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Karl S. Stern
Karl S. Stern
Experience | Education | Recognition | Activities | Publications
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Biography
For nearly 30 years, Karl has tried cases to juries, courts, and arbitrators in state and federal courts throughout the U.S. and before domestic and international arbitral tribunals. Many of his cases involve complex transactions in the energy industry, including international energy investments, joint ventures, gas and power trading and marketing, and the development, acquisition, sale, and ownership of oil, gas, renewable energy, and power assets. Karl’s cases also involve corporate, LLC, and partnership governance, mergers and acquisitions, finance, and shareholder rights. Karl also litigates antitrust claims. He has been recognized in the areas of business litigation, alternative dispute resolution, and antitrust in The Best Lawyers in America®.
Karl is Head of the firm’s global Litigation Department and serves on the firm’s Management Committee.
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Representative Experience
Financial, M&A, Governance, and Securities
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- Representing the publicly traded general partner of a master limited partnership (“MLP”) and certain of its directors in Delaware litigation challenging the $9 billion transaction in which the MLP acquired the general partner
- Represented three private equity firms in Texas shareholder litigation over the terms of a management buyout of Kinder Morgan, Inc
- Representing a publicly traded MLP in litigation in Delaware and Missouri challenging the MLP’s acquisition of its general partner
Energy Industry/International Disputes
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- Obtained take-nothing award in the defense of an ICDR arbitration of a $1.3 billion claim against our client arising out of the ownership and operation of an international gas and power trading and marketing company
- Defended a master limited partnership, its general partner, and the directors of the general partner in a state court fraud action arising out of $1.5 billion acquisition of oil and gas properties
- Obtained a liability finding in favor of the claimant in the Canadian arbitration of a claim against a major oil producer for wrongful termination of a gas supply contract, which settled as the parties awaited a “baseball” style decision on damages of either $30 million or $90 million
Antitrust
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- Represented a building products distributor in an AAA arbitration in New York in connection with a price-fixing claim against the manufacturer
- Defended a manufacturer of explosives in civil antitrust litigation
- Defended a major airline in civil antitrust litigation
Other Commercial
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- Defended company in state court and related arbitration over claim in excess of $200 million arising out of a tax sharing agreement in effect while client was a subsidiary of the defendant
- Prevailed in trial of a $70 million dispute over the value of water rights on the Lower Colorado River
- Defended Canadian energy company in federal court in Missouri in case in which plaintiff alleges breach of contract in connection with client’s acquisition of pipeline partnerships from a third party
Pro Bono
- Represented the class of all past, present, and future inmates in the Texas Department of Corrections in suit challenging mail rules
Prior results do not guarantee a similar outcome.
Education and Professional Background
- The University of Texas School of Law, J.D., 1982
- Southern Methodist University, B.A./B.S., 1979
- Admitted to practice: Texas, 1982; United States Supreme Court; U.S. Court of Appeals for the Fifth Circuit; U.S. District Court for the Northern, Southern, and Western Districts of Texas
Professional Recognition
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- "Leading lawyer" in energy litigation, Legal 500 U.S., 2008 - 2011
- The Best Lawyers in America® in commercial litigation, 2005 - 2011; alternative dispute resolution, 2006 - 2011; antitrust law, 2006 - 2011
- Named by Euromoney's 2011 and 2012 Benchmark Litigation as a “Local Litigation Star” in commercial litigation, international dispute resolution, oil and gas, and securities litigation
Activities and Affiliations
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- Member: International Bar Association; Antitrust and Litigation Sections, American Bar Association; Antitrust and Business Litigation Section (Chair, 1999 - 2000), State Bar of Texas; Federal Bar Association; The James A. Baker III Institute for Public Policy Roundtable
- Executive Committee: International Institute for Conflict Prevention and Resolution
- Fellow: Texas Bar Foundation
Publications and Presentations
- Speaker for professional seminars on securities, antitrust, and trial/arbitration skills topics
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Full Biography
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First City Tower
1001 Fannin Street
Suite 2500
Houston, TX 77002-6760
Tel +1.713.758.3828
Fax +1.713.615.5603
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