EDUCATIONSouthern Illinois University School of Law
Business Editor, Law Journal
U.S. Supreme Court (2003)
U.S. Courts of Appeals:
- Ninth Circuit (2001)
- Third Circuit (2017)
U.S. District Courts:
- N.D. Cal. (2001)
- C.D. Cal. (2001)
- N.D. Ill. (2009)
- D. Colo. (2003)
- E.D. Wis. (2003)
- W.D. Wis. (2003)
- Selected as "Super Lawyer"
by Thomson Reuters
- Recommended in Securities
Litigation by Legal 500
Peter Borkon is a partner and Co-Director of Institutional Investor Relations at BFA.Over his more than twenty-year career, Peter has prosecuted complex civil cases including large-scale securities fraud class actions on behalf of institutional and individual investors. In addition to his litigation successes, he maintains a counseling practice on issues of financial fraud and fiduciary law.
Peter played a pivotal role in bringing corporate governance claims against McKesson Corporation related to its participation in the opioid crisis that is gripping the nation. He co-drafted the complaint that in May of 2018 Northern District of California Judge Claudia Wilken upheld as demonstrating that any demand the board take action to rectify the alleged wrongdoing would be futile. Peter’s other high-profile corporate governance cases include serving as a lead team member in the In re Pacific Gas & Electric (San Bruno Explosion) case which resulted in a significant payment to the corporation and cutting edge corporate governance reforms for the board of directors and operations at the gas operating company.
Peter’s career as an advocate also includes litigating securities class action cases like In re Homestore.com Securities Litigation on behalf of the California State Teachers Retirement System and Homestore.com investors, in connection with the company’s 2001 financial fraud. After multiple rounds of motions to dismiss and summary judgment Judge Pechman, sitting by designation in the Central District of California, approved settlements totaling over $100 million, to resolve claims against Homestore.com and its auditor PWC.
Peter also had a key role in prosecuting In re Charles Schwab YieldPlus Fund Securities Litigation, on behalf of fund investors. The case alleged that Charles Schwab Corporation and the fund's underwriters deceived investors about the underlying risk in the fund, which was sold as a cash alternative, but in fact was deeply invested in highly speculative and risky mortgage-related structured debt, according to the complaint. After three years of intense litigation, including dozens of depositions, motions for summary judgment and contentious negotiations during which Schwab changed counsel, the parties announced a $235 million settlement. Peter was also the lead lawyer in Nallagonda v. Osiris Therapeutics, Inc., spearheading an investigation and prosecution that resulted in a 2018 settlement that is valued between 36% and 86% recovery of losses for defrauded investors.
Peter also has decades of experience serving institutional investors as an advisor. He developed his prior firm’s Portfolio Monitoring and Case Evaluation practice. He regularly provides institutional investor clients with educational programs and brings his years of teaching experience to every advisory engagement. Peter regularly speaks on issues of importance to institutional investors like corporate governance, fiduciary duty, open records acts, Environmental Social and Governance (ESG) investment and the intersection of those principles with federal and state securities laws.
Peter’s broad involvement in public service through volunteer enterprises includes his current service on the San Francisco AIDS Foundation’s Board of Directors where he is a member of that Board’s Audit Committee. He is a past Co-Chair of the AIDS Legal Referral Panel’s Board of Directors and a past Co-Chair of the Bay Area Lawyers for Individual Freedom’s Judicial Nominations and Endorsements Committee. He also is a member and frequently speaks at conferences of the National Association of Public Pension Attorneys (NAPPA) and the National Conference on Public Employee Retirement Systems (NCPERS).
Peter is also a Director at the Northern District of California’s Federal Practice Program Board, an At-Large Member of the Ninth Circuit’s Circuit Executive Committee and a past Co-Chair of the Lawyer Representatives of the Northern District of California to the Ninth Circuit Judicial Conference (2017).
Peter holds degrees from DePauw University, the Southern Illinois University School of Law and a Certification in Corporate Governance from the Institute for Executive Education at New York University School of Law.