Independent Directors – Internal Investigation
Represented the independent directors of a public corporation in conducting an internal investigation into shareholder derivative claims.
Financial Services Firm – FINRA Arbitration
Representation of a major financial services firm and one of its brokers in an arbitration brought by three customers seeking over $20 million in damages. Following 16 days of hearings before a FINRA panel, the customers received an award (less amounts awarded on our client’s counterclaim) of $28,430. The panel granted the broker’s request for an expungement of the matter from his CRD record.
Hedge Fund Collapse – SEC Investigation
Representation of the chief operating officer of a $1 billion hedge fund in connection with an SEC investigation into the fund's collapse and liquidation.
Retail Brokerage – NYSE Investigation
Representation of a national retail brokerage firm in claims brought by the Enforcement Division of the New York Stock Exchange relating to proxy procedures used on an industry-wide basis. The case was favorably resolved after discovery.
First Allied Securities – NASD Arbitration
Representation of First Allied Securities in an NASD arbitration in Seattle, Washington involving claims against a competitor for raiding an entire division of the company, including multiple brokers in multiple offices.
Boards of Directors – Internal and SEC Insider Trading Investigations
Conducted an insider trading investigation on behalf of the boards of directors of two affiliated publicly owned computer software companies, and represented them in a related SEC investigation.
Securities Brokers – State Insurance Department Investigation
Representation of more than 275 securities brokers of a number of national retail brokerage firms in proceedings before the NY State insurance department on issues concerning annuity exchanges (regulation 60 violations). We were successful in convincing the department to drop approximately 90% of the cases with no formal action and received favorable settlements in the case of the other 10% of the other advisors.
Pharmaceutical Company – Insider Trading Investigation
Represented the senior management of a pharmaceutical company in an SEC insider trading investigation of a PIPE offering.
Commodities Broker – Civil Litigation
A leading futures and options broker in a civil litigation stemming from a $200 million fraud perpetrated by a hedge fund manager.
Retail Brokerage – Federal Investigation
Representation of a national retail brokerage firm in a joint U.S. Attorney/SEC investigation of illegal "frontrunning" trading activity.
Retail Brokerage Branch Manager – NASD Charges
Successful defense of a branch manager of a national retail brokerage firm. Following a hearing, the hearing panel dismissed all of the NASD's charges, including allegations of supervisory failures. The dismissal was upheld on appeal by the NASD to the NASD's National Adjudicatory Council.
Individuals – Insider Trading
Representation of two foreign citizens in connection with an SEC lawsuit alleging insider trading of Dow Jones' stock.
OTC Hedging Service – Market Formation
Representation of a hedging service for over-the-counter commodities in forming a unique credit-enhanced automated trading market in a joint venture with an affiliate of Bechtel Corporation.
Wealth Management Division – Closure of FINRA Sales Practice Investigation and Dismissal of Related Customer Arbitration
Successfully represented the wealth management division of a major international bank, obtaining the closure, with no further action, of a FINRA investigation into alleged sales practice violations and the dismissal of a related customer arbitration alleging unsuitable investments in structured products.
Accounting Firm – SEC Investigation into Accounting Irregularities
Represented a regional accounting firm as a witness in an SEC investigation into accounting irregularities at a publicly traded internet consumer products company.
Witnesses – SEC and Department of Justice Investigation into Alleged Securities Fraud Scheme
Successful representation of two former principals of a dissolved hedge fund in an investigation by the US Attorney’s Office and the SEC into a high-profile "pump-and-dump" scheme involving shares in a Bermuda-based reinsurance company and nearly $20 million in alleged illegal profits. The investigation, which led to the criminal indictment of 7 individuals for securities fraud, resulted in no charges against our clients.
Ireland-based Company – Dismissal for Lack of Jurisdiction
Successful defense of an Ireland-based entity in litigation asserting fraud and breach of warranty claims arising from alleged misstatements and omissions of material facts made in the shareholder’s agreement of a venture formed to lay an undersea telecommunications cable between Ireland and Wales. Secured the client’s dismissal from the action based on lack of personal jurisdiction.
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