Leonard Barrack is the senior and founding partner of Barrack, Rodos &
Bacine, a firm which litigates securities and antitrust class actions and
complex commercial litigation across the country.
Since the enactment of the Private Securities Litigation Reform Act in late
1995, Barrack has been appointed lead or co-lead counsel in dozens of securities
cases throughout the U.S., including three of the largest case settlements in
securities class action history: In re WorldCom, Inc. Securities Litigation,
before Hon. Denise L. Cote in the Southern District of New York, one of the
largest securities class action lawsuits in the country with a recovery of more
than $6.13 billion for the class; In re Cendant Corporation Litigation, before
Hon. William H. Walls in the District of New Jersey, in which Barrack recovered
more than $3.18 billion for the class; and In re McKesson HBOC, Inc. Securities
Litigation, before Hon. Ronald M. Whyte in the Northern District of California,
which settled for $1.0425 billion.
Barrack was also the first to represent an institutional investor, the
Pennsylvania Public School Employees' Retirement System, as lead plaintiff in
two major securities class actions initiated in early 1996. A leader in
Philadelphia's civic and political circles, Barrack is also the former national
finance chairman of the Democratic National Committee and is currently the
president of the Jewish Federation of Greater Philadelphia. His philanthropic
efforts have included major gifts to Temple Law, including support for a
significant expansion of the law school and the establishment of the Barrack
Public Interest Fellowship Program.
"My commitment to Temple goes way back and is founded on common values," says
Barrack, a Philadelphia native who attended Temple University as an
undergraduate before entering the law school. "My parents immigrated to the U.S.
in 1923, and they placed profound value in education as a means to achieving the
American dream. I hope my contribution in some small way makes that dream
available to present and future generations." Since 1994, when the Barrack
Public Interest Fellowship Program was established, 145 students have benefited
from loan repayment totaling more than $700,000, removing the financial
obstacles that so often discourage beginning lawyers from entering public
interest jobs after graduation. “Len's vision in creating this program has
allowed hundreds of law graduates to pursue work in some of the most compelling
public advocacy agencies," says Dean JoAnne A. Epps. "It has allowed our
graduates to pursue fulfilling careers, and at the same time has insured legal
services to thousands of individuals who otherwise might have been denied. It is
a model of philanthropy that is indicative of Len Barrack's generosity in so
many areas."
In 2010, the Student Public Interest Network (SPIN) acknowledged Leonard
Barrack's generosity by honoring him with the Robert J. Reinstein Public
Interest Award, which was presented by Professor Reinstein at the annual SPIN
auction. "Mr. Barrack's commitment to helping students enter public interest
work is especially crucial in the current economic climate," say SPIN auction
chair Aditi Aggarwal '11. "We applaud his many philanthropic efforts, and
especially his leadership in establishing a loan forgiveness program that has
made so much difference for so many Temple graduates."
Leonard Barrack's commitment and generosity also made possible a significant
law school expansion when in 2002, the historic College Hall was renovated and
renamed the Morris and Sylvia Barrack Hall. Barrack Hall is located just a block
from the law school's main building, Klein Hall, and adjacent to the Shusterman
Hall conference center. It houses lecture halls, seminar rooms, student lounges
and organization offices, as well as the offices for Student Affairs,
Admissions, and Career Planning. In that same year, Barrack was appointed by
then chairman of the board Howard Gittis and then president David Adamany to
chair Temple’s capital campaign—the university’s very first effort at a
comprehensive capital campaign. With and ambitious goal of $350 million, the
campaign recently closed at $380 million.
Today, Barrack is a member of the board of trustees of Temple University and
for many years chaired the board's academic affairs committee. The magnitude of
Barrack's overall contribution to the university was recognized at the 2010
University Founder’s Day, where he received the Alumni Distinguished Service
Award.