Stephen Teti's practice focuses on securities class action litigation, shareholder derivative lawsuits and corporate governance, and complex consumer litigation. While at Scott+Scott, Mr. Teti has worked on several cases that have achieved notable results, including Rubenstein v. Oilsands Quest Inc., No. 11-cv-288 (S.D.N.Y.) (securities settlement of $10.235 million), Westmoreland County Employee Ret. Sys. v. Parkinson, No. 10-cv-6514 (N.D. Ill.) (corporate governance reform), and Plymouth County Contributory Ret. Sys. v. Hassan, No. 08-cv-1022 (D.N.J.) (corporate governance reform). Mr. Teti also practices in Scott+Scott's appellate group, achieving victories in Cottrell v. Duke, 737 F.3d 1238 (8th Cir. 2013), Westmoreland County Employee Retirement System v. Parkinson, 737 F.3d 719 (7th Cir. 2013), and Chavez v. Nestlé USA, Inc., 511 Fed. Appx. 606 (9th Cir. 2013).
Recently, Mr. Teti helped defeat a motion to dismiss a securities fraud action in which he serves as co-lead counsel, in Gross v. GFI Group, Inc., 2016 WL 719434 (S.D.N.Y. Feb. 9, 2016). Mr. Teti represents a class of shareholders who sold their stock in reliance on GFI's assurances that it had obtained the best possible price for its shareholders in a merger acquisition, despite knowing that this was false. After a bidding war ensued, GFI received significantly more than it had previously assured investors was the top price it could get for the company.
Mr. Teti obtained a significant decision for consumers in Friedman v. Maspeth Fed. Loan & Savings Ass'n, 30 F. Supp. 3d 183 (E.D.N.Y. 2014). In a case before the Honorable Jack B. Weinstein, raising "issues of first impression on the reach of the Real Estate Settlement Procedures Act," Mr. Teti defeated a motion to dismiss, and later obtained a settlement that reimbursed consumers for 100% of their losses in the case which involved wrongful imposition of late charges on timely received mortgage payments.
Mr. Teti has also achieved several favorable decisions regarding the improper removal of class actions under the Securities Act of 1933, including Niitsoo v. Alpha Natural Resources, Inc., 902 F. Supp. 2d 797 (S.D. W. Va. 2012), Rosenberg v. Cliffs Natural Resources, Inc., 2015 WL 1534033 (N.D. Ohio Mar. 25, 2015), and Rajasekaran v. CytRx Corp., 2014 WL 4330787 (C.D. Cal. Aug. 21, 2014).
Mr. Teti also litigates complex consumer cases, including in the emerging field of data breach litigation. He represents banks and other financial institutions in In re: Home Depot Inc. Customer Data Security Breach Litig., 14-md-2583 (N.D. Ga.), where he serves on the Plaintiffs' Coordination & Discovery Committee, as well as in In re: Target Corp. Customer Data Security Breach Litig., 14-md-2522 (D. Minn), and Greater Chautauqua Federal Credit Union v. Kmart Corp., No. 15-cv-2228 (N.D. Ill.).
Mr. Teti graduated from Fairfield University (B.A., cum laude, 2007) and the Quinnipiac University School of Law (J.D., magna cum laude, 2010). He is a member of the Connecticut Bar. During law school, Mr. Teti served as Publications Editor on the Quinnipiac Law Review. Further, he worked as an intern in the State of Connecticut Office of the Attorney General, a judicial extern to the Honorable Stefan R. Underhill in the United States District Court for the District of Connecticut, and a legislative extern to the Judiciary Committee of the Connecticut General Assembly. Prior to joining Scott+Scott, Mr. Teti clerked for the judges of the Connecticut Superior Court.
Mr. Teti is a regular contributor to and editor of Scott+Scott's monthly newsletter, Market+Litigation, and he volunteers on his local Youth Services Advisory Board.