William L. Stern is a partner in Morrison & Foerster’s Litigation Department and is resident in the firm’s San Francisco office. Mr. Stern, a member of the Financial Services group, is co-chair of the firm’s Consumer and Class Action practice.

Mr. Stern is a litigator specializing in the defense of consumer class actions with a focus on the defense of financial institutions. He also has extensive trial and appellate court experience defending commercial clients in cases arising from privacy and data breach, trade secrets, first-party insurance bad faith, franchise, intellectual property, lender liability, and prejudgment remedies.

Mr. Stern is the recognized authority on California’s Unfair Competition Law, Business & Professions Code section 17200 et seq., having authored The Rutter Group’s treatise and numerous articles on the subject. He argued one of the seminal UCL cases, Kraus v. Trinity Management Services, Inc., to the California Supreme Court. He is also the principal author of the recently passed amendment to section 17200, known as Proposition 64.

Mr. Stern was listed as one of Northern California’s “Super Lawyers” in 2004-2007 by Super Lawyer Magazine. In 2006, the American Tort Reform Association honored Mr. Stern by naming him as a Legal Reform Champion. He is a fellow of the American College of Consumer Financial Services Lawyers.

Mr. Stern’s experience includes:

Business & Professions Code §17200

Principal author of Proposition 64, approved by California voters on November 2, 2004. Representation of hundreds of clients in both litigation and counseling regarding all aspects of California’s unfair competition and false advertising statutes, including both private and law enforcement actions. Author of a treatise in California on the statute. Presented oral argument before the California Supreme Court in Kraus v. Trinity Management Services, Inc., 23 Cal.4th 116 (2000).

Unfair Business Practices/False Advertising

Litigation and trial of hundreds of suits brought by legal enforcement officials and “private Attorneys General” for unfair business practices and false advertising claims against banks, manufacturers, insurers, finance companies, pharmaceutical companies, cable television operators, telemarketing companies, mortgage lenders, public utilities, film producers, advertisers, high-tech companies, nursing home operators, publishers, literary agents, retailers, franchisors, equipment lessors, and others.

Appellate

Presented oral argument in Kraus v. Trinity Management Services, Inc., 23 Cal.4th 116 (2000) (Bus. & Prof. Code § 17200).

Other appellate cases: Byars v. SCME Mortgage Bankers, Inc., 109 Cal.App.4th 1134 (2003) (“Yield Spread Premium” class action against mortgage lender, Hirsch v. Bank of America, 107 Cal.App.4th 708 (2003) (class action against bank for alleged violations of Reg. Q), Gallimore v. State Farm Fire & Cas. Ins. Co., 102 Cal.App.4th 1388 (2002) (anti-SLAPP suit), Community Assisting Recovery, Inc. v. Aegis Security Ins. Co., 92 Cal.App.4th 886 (2001) (private Attorney General suit under Section 17200 against hundreds of prop/casualty insurers, Wise v. Pacific Gas & Elec. Co., 77 Cal.App.4th 287 (1999) (private Attorney General suit under Section 17200 against electric utility, and Californians for Population Stabilization v. Hewlett Packard Co., 58 Cal.App.4th 273 (1997) (Section 17200 claims arising from labor/employment issues in a suit involving resident alien software programmers). Numerous amicus briefs.

Business Litigation

Represented multi-level marketing company in nationwide racketeering and unfair competition class action. Nationwide counsel to subprime secondary mortgage lender sued in serial class actions around the country. Representation of large commercial book publisher in commercial authorship dispute. Suit against several layers of co-reinsurers for non-payment following property losses sustained by the “Rodney King” riots. Represented purchaser of assets in claim of fraud/conversion by trustee in bankruptcy.

Privacy

Defended a half dozen banks in class actions alleging violations of California’s constitutional right of privacy arising from third-party marketing arrangements. Represented bank “Acquirer” and card issuer in data breach involving mass data compromise at “Tier 1” merchant. Defended retailer in “Fear of identity theft” class actions following the theft of laptops containing unencrypted personal identifying information of consumers.

Banking

Defense of “wrongful verb” class actions challenging under Reg. E the disclosures placed on ATM machines warning of a fee charged to non-account holders. (See Brown v. Bank of America, 457 F. Supp. 2d 82 (D. Mass. 2006).) Defense of class actions involving Reg. Q and interest-calculation methods. Defense of claims involving letters of credit, operations issues. Co-counsel to plaintiff in Wells Fargo Bank v. Boutris, 265 F.Supp.2d 1162 (E.D. Cal. 2003) (preemption of state mortgage laws under National Bank Act).

Insurance

Representation of both insurers and policyholders in coverage matters involving comprehensive general liability, property/casualty, professional errors and omissions, and bond coverages. Defense and coverage of “first-party bad faith” cases. Representation of reinsurers in regulatory matters and reinsurance litigation. Defended auto insurer before Department of Insurance administrative proceeding seeking over $20 million in rollbacks under California’s “Proposition 103.” Represented prop/casualty insurers and underwritten title companies in regulatory matters before the California Department of Insurance.

Consumer Finance

Advising financial institutions in non-litigation matters in the consumer area, including drafting and reviewing consumer contracts and forms, “compliance” audits and opinions, and regulatory matters involving California licensing and regulatory officials. Conducted “fair lending” audit of nationwide mortgage lender.

Franchise Litigation

Extensive experience defending franchisors in wrongful termination and nationwide franchise termination cases. Successfully brought unlawful detainer and defended wrongful termination claims in arbitration. Obtained $1 million-plus punitive damage award in arbitration against franchisees for under-reporting of sales.

Professional Activities

• Organizer and panelist of The Rutter Group’s annual program on California’s Unfair Business Practices and False Advertising statues, 1989-present
• Panelist, “Vigorously Challenging and Defeating Class Certification: Strategies for Showing that Plaintiffs Have Not Met Their Burden,” ACI’s 2nd Annual Defense Counsel Summit, October 27, 2008
• Co-host and panelist on U.S. Chamber of Commerce program “Litigation in California – It’s Everybody’s Business,” October 2007
• Panelist, PLPs 13th Annual Consumer Financial Services Litigation Institute, 2008
• Panelist, California Bankers Association Bank Counsel Seminar (1990, 1992, 1994, 1997, 1999, 2000, 2002, and 2004-2008)
• Delivered keynote luncheon address, “The Politics of Premption,” at the April 2003 California Bankers Association, Annual Bank Counsel Seminar
• Panelist, California Mortgage Bankers Association, Annual Legislative and Regulatory Update, 2005, 2007
• Testified before the California Legislature on reform of unfair competition statute, May 1999
• Panelist and author of program materials, USC Law Center, Corporate Counsel Seminar, 1991
• Contributing editor to Consumer Financial Services Law Report (LRP Press), 1998-present
• Member, Legal Affairs Committee of the California Bankers Association
• Member, Executive Committee, California State Bar, Section on Antitrust and Unfair Competition, 2007-2010
• Member, California State Bar, Business Law Section, Financial institutions Committee (2006-2009)
• Lectured on California’s Unfair Business Practices and False Advertising statutes
• Panelist, California Judges Association, 1998 and 2005

Publications

• W. Stern, “The Reliance Element in State Consumer-Fraud Class Actions,” 23 Rev. Bank. & Fin. Serv. 1 (2007).
• William L. Stern, Business & Professions Code § 17200 Practice (West. Pub. 2008)
• William L. Stern, “Cramdown Settlements in Securities Class Actions,” 21 Sec. Reg. Law Journal 79 (1993).
• William L. Stern, “Federal Securities Laws: The Dangers for Financial Institutions,” 108 Banking Law Journal 443 (1991).
• Author of dozens of articles published in the California Civil Litigation Law Reporter and Consumer Financial Services Law Report.

Before joining Morrison & Foerster, Mr. Stern was a partner at Severson & Werson. Mr. Stern earned his J.D. from Cornell Law School in 1980 and his B.A. degree from the University of Minnesota, 1977 magna cum laude.