Marc Dworsky was born in Cape Town, South Africa. He received his B.A. from York University (1983) and his LL.B. from Osgoode Hall Law School (1986), where he was the Gold Medalist and received the Viscount Bennett Fellowship awarded annually to the most outstanding law student in Canada. In 1986, he served as law clerk to the Hon. Mr. Justice G.V. La Forest of the Supreme Court of Canada, and in 1987, received his LL.M. from Harvard Law School, where he specialized in comparative constitutional law. Mr. Dworsky has been a partner of Munger, Tolles & Olson since 1995.
Mr. Dworsky is recognized by Chambers USA as a “leader lawyer,” and in 2011, he was named to the Daily Journal’s annual list of “Top 100” lawyers in California in 2011 and to Lawdragon's list of 500 Leading Lawyers in America. He frequently has been named a Southern California Super Lawyer, and in 2006 was one of 134 lawyers nation-wide named to the Client Services All-Star Team compiled by BTI Consulting Group based on its survey of general counsels at more than 200 Fortune 1000 companies. Mr. Dworsky is admitted to practice in California, New York, and British Columbia, Canada.
Mr. Dworsky’s practice primarily involves counseling, crisis management, and complex and high-stakes litigation in federal and state courts nationwide, with particular but not exclusive emphasis in the financial sector.
Mr. Dworsky’s crisis management experience ranges from his role in the 1990s as one of the lead lawyers heading up the defense of Merrill Lynch in the multi-billion dollar litigation brought against it by Orange County and other California municipalities in the wake of Orange County’s bankruptcy, to serving as lead national counsel for Wells Fargo and Bank of America in managing their mortgage-based exposure throughout the credit crisis.
A significant portion of Mr. Dworsky’s work occurs outside of the litigation process and beyond the public eye, but representations in the public record include the following:
For Wells Fargo, Mr. Dworsky’s multidisciplinary team masterminded the defense of all class and individual litigation nationwide by institutional investors in Wells Fargo-sponsored residential mortgage backed securities (RMBS). In July 2011, in the first of this generation of RMBS class actions to settle, Wells Fargo reached a $125 million settlement of claims that the bank made misrepresentations in connection with the sale of more than $35 billion in mortgage-backed securities certificates. In the same period, Mr. Dworsky also defended Wells Fargo in a series of class, mass and individual actions by investors in a medical factoring enterprise for which Wells Fargo served as indenture trustee.
Mr. Dworsky's teams also have spearheaded the defense of BofA in several other multibillion dollar cases – including the landmark $10 billion MBS lawsuit brought by AIG, which settled for $650 million while BofA’s summary judgment motions were pending; the shareholder class action litigation alleging that BofA should have disclosed a threat by AIG to sue the bank over AIG’s mortgage-backed securities losses, which was dismissed with prejudice and upheld on appeal to the U.S. Court of Appeals for the Second Circuit; a score of similar MBS securities and repurchase suits by other institutional investors; and in lawsuits by BNP Paribas and Deutsche Bank in New York and Florida seeking $1.7 billion in losses plaintiffs sustained as noteholders in Ocala Funding, an SPE that funded mortgages originated by the nation’s largest (and now defunct) nondepositary residential mortgage lender, Taylor, Bean & Whitaker (TBW), which settled for $315 million in 2015, also under the threat of multiple summary judgment motions that had been filed by BofA.
More broadly, Mr. Dworsky’s expertise includes representing corporate, director and officer defendants, including Bank of America (and Merrill Lynch), Wells Fargo (and Wachovia), Northrop Grumman, The Coca-Cola Company, Citi (and Salomon), Brown Brothers Harriman & Co, General Electric’s WMC Mortgage Company, and UBS, in a variety of high-profile class, individual, mass and derivative lawsuits, representing investment banks and asset management firms in matters ranging from institutional client disputes to regulatory investigations and challenges, to other, broader challenges affecting their business practices.
By way of example, in recent years Mr. Dworsky has represented Merrill Lynch in litigation throughout the country concerning its HOLDRs products; its marketing and sales of Class B mutual fund shares; numerous class action lawsuits involving debt or equity underwritings by the company; litigation involving Stan Lee Enterprises, regarding that company’s demise; and litigation brought by Scott Blum, the founder of Buy.com, regarding that company’s IPO. He has represented Merrill Lynch in a variety of post-trial and appellate matters, and has consulted and acted as shadow counsel in other matters of significance to the company. Other representations include UBS in class action lawsuits challenging their sales of callable CDs and their sales of municipal bonds, respectively, litigation by several hedge funds in connection with a private placement, and a series of class and individual actions in Nevada and California pertaining to the failure of a 1031 exchange entity that had a brokerage relationship with UBS; Wachovia, in connection with litigation stemming from the recent failure of Le-Natures’, Inc., and disputes with institutional and governmental entities in the securities lending arena; the Securities Industry Association, in matters where it has appeared as an amicus; Western Asset Management and Legg Mason, Inc., in a wide range of regulatory, litigation, and business matters; E*TRADE in a complex series of affirmative and defensive lawsuits in the wake of the largest failure ever of a SIPC-insured institution, Minnesota-based MJK Inc.; and The Coca-Cola Company and its board in shareholder class action and derivative litigation in Georgia alleging improper earnings management and impairment write-offs.