Philip R. Stein

Partner
305-350-7220
Area of Focus: Litigation
GET TO KNOW Philip
Phil is the litigator trusted by financial institutions, homebuilders and other businesses attempting to navigate uncharted territory. Phil is valued for, among other things, his experience representing loan originators in mortgage-backed securities and indemnification litigation. In the wake of the financial crisis, Phil has litigated approximately 100 such cases in jurisdictions around the country, while securing pre-suit resolutions or settlements in dozens more. 

Phil also has extensive experience guiding clients in addressing and mitigating liability related to data security and privacy. Corporate governance is another area of focus for Phil, and he regularly handles high-stakes cases involving disputes between officers and directors, as well as shareholder litigation. 
Q & A
Why should a client hire you as opposed to another litigator?
I have experience litigating high-stakes matters that stem from new, unprecedented circumstances. An example is my work handling mortgage-backed securities and indemnification suits. Rather than focusing on how novel these claims were, I made sure traditional concepts such as materiality and causation loomed large in our defense strategy. I kept the required elements of proof, and the larger story of what had happened to my clients, front-of-mind for everyone, especially the courts, so the cases were not colored by an overly narrow reading of certain contractual terms in isolation. I helped impose order and a clear way of thinking about these cases that might have otherwise gotten lost in the sensationalism that surrounded them. This is an approach I try to take with every case, regardless of the circumstances.
What is keeping your clients up at night and how are you helping address those concerns?
I think all clients, regardless of their industry, are increasingly concerned about privacy and data security issues. Today, you have to assume people are trying to gain access to your private information -- and that includes sensitive data about employees, trade secrets, and customers. The legal risks are also becoming much more apparent, both in terms of civil litigation, and exposure to regulatory enforcement. I am helping clients both identify and mitigate their particular risks. For some, such as banks and other financial institutions, I am guiding them in thinking about ways of recouping their own losses. For example, when a retailer suffers a data breach, banks face significant expenses from canceling and re-issuing credit and debit cards, and taking other steps to ensure their customers are protected. Litigation is one way they might recoup some of those losses. 
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Philip's PRACTICES
EXPERIENCE
EXPERIENCE
Representation of international bank as lead trial counsel in multi-week trial, obtaining confidential favorable resolution for client.
EXPERIENCE

Defense of mortgage loan originators against claims brought throughout the country asserting over $500 million in cumulative damages. The cases were initiated by major financial institutions seeking repurchase of or indemnification for large volumes of residential mortgage loans sold before the 2008 financial crisis. We won eight summary judgments and motions to dismiss in federal and state courts in cases of this type from 2013 through 2015. Six of the victories, the only ones appealed, were affirmed on appeal in January 2016 by the United States Court of Appeals for the Tenth Circuit.

EXPERIENCE
Obtained over $60 million in settlement payments for client as co-lead counsel in bankruptcy adversary proceedings.
EXPERIENCE

Defense of eight loan originators and sellers in the RFC and ResCap Liquidating Trust Litigation. The six dozen suits comprising the consolidated action were brought by the successor to one of the largest private purchasers of mortgage loans, seeking repurchase and indemnification arising out of the sale of billions of dollars' worth of mortgage loans which were pooled by the plaintiff into mortgage-backed securities.


EXPERIENCE
Served as co-lead counsel for government contractor, obtaining judgment of $20 million against government.
EXPERIENCE
Successful representation as lead counsel for major internet service provider. Obtained judgment and affirmance of judgment in federal appeals court.
INSIGHTS

Phil is editor of Bilzin Sumberg's Mortgage Crisis & Financial Services Watch blog, providing insight into loan repurchases, mortgage-backed securities, and mortgage insurance.

CREDENTIALS
  • Duke University, J.D., School of Law, 1993
    University of North Carolina, B.A., 1989
  • American Bar Association
    Litigation Pretrial Practice & Discovery Section
    Co-Chair of the Recent Court Decisions Subcommittee
    American Friends of Magen David Adom
    Director
    Dade County Bar Association
    Legal Achievement Awards, Committee Member
    The Florida Bar
    Business Law Section
    Committee Member
    United Way of Miami-Dade
    Impact Leadership Council, Member
  • Florida
    Georgia
    Illinois
    Maryland
    Pennsylvania
  • U.S. District Court, Middle District of Florida
    U.S. District Court, Northern District of Florida
    U.S. District Court, Southern District of Florida
    U.S. District Court, Northern District of Georgia
    U.S. District Court, Northern District of Illinois
    U.S. District Court, District of Maryland
    U.S. Court of Appeals, Fourth Circuit
    U.S. Court of Appeals, Tenth Circuit
    U.S. Court of Federal Claims
    U.S. District Court, District of Colorado
    U.S. District Court, Western District of Texas
    U.S. Court of Appeals, District of Columbia Circuit
  • Florida Super Lawyers, 2015 - present

    Benchmark Litigation, Local Litigation Star, 2016 - present

    Daily Business Review, Most Effective Lawyers - Bankruptcy, Finalist, 2013

    Daily Business Review, Most Effective Lawyers - Distressed Real Estate, Finalist, 2013

    Lawdragon 500 Leading Lawyers, Finalist, 2007 - 2013

    AV Preeminent Peer Review Rated, Martindale-Hubbell

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