Securities Enforcement and Regulatory Defense
Represented two former employees of a major Wall Street investment bank in connection with an investigation by the NY Attorney General’s Office into Residential Mortgage Backed Securities (RMBS).
Represented a municipal authority in connection with a municipal bond tender offer investigation by the SEC Enforcement Division.
Represented an investment banker in connection with a market manipulation investigation by the SEC Enforcement Division.
Represented a registered broker-dealer firm in connection with an examination by the SEC Broker-Dealer exam staff.
Represented a registered investment advisory firm in connection with an examination by the SEC Investment Adviser/Investment Company exam staff.
Represented a Big Four accounting firm and, after Wells submission, convinced the Commission to reject staff recommendation to initiate enforcement proceedings.
Represented and obtained a favorable settlement for a bank director in an alleged insider trading investigation by the SEC.
Broker-Dealer Securities Arbitrations
Represented a broker-dealer firm in a FINRA arbitration against claims for unsuitability, breach of fiduciary duty and misrepresentation involving sale of variable deferred annuity invested in hedge fund subaccounts.
Represented broker-dealer firm and registered representative in an NASD arbitration against claims for unsuitability, unauthorized trading, churning and research conflicts of interest. Caraway v. Merrill Lynch, NASD-DR (2001)
Represented broker-dealer firm and registered representative in an NASD arbitration against claims for unsuitability, unauthorized trading and churning. Hagy v. Merrill Lynch, NASD-DR (2001)
Represented broker-dealer firm and registered representative in an NYSE arbitration against claims for unsuitability, unauthorized trading and churning. Zaykowski v. Merrill Lynch, NYSE (2002)
Represented broker-dealer firm and registered representative in an NASD arbitration against claims for unsuitability, unauthorized trading and breach of fiduciary duty. Esterly v. Merrill Lynch, NASD (2002)
Represented broker-dealer firm and registered representative in an NASD arbitration against claims for unauthorized trading. Moravek v. Merrill Lynch, NASD (2000)
Class Action Securities Fraud
Represented accounting firm in consolidated class action against publicly traded food brokering corporation, its officers, directors, investment bankers and accounting firm alleging claims under Section 10(b) of the Securities Exchange Act of 1934 and Section 11 of the Securities Act of 1933. In re: Suprema Specialties, Inc. Securities Litigation, U.S. District Court, DNJ (2003); Special Situations Fund, III, L.P. v. BDO Seidman, U.S. District Court, DNJ (2003)
Represented Big Four accounting firm in several 10b-5 class actions over the past 25 years, including the first 10b-5 class action ever to go to a jury trial. (Case settled after one week of trial.)
Shareholder Actions
Represented officers and directors of public company in shareholder derivative action involving claims of breach of fiduciary duty and self-dealing following officers and directors’ conversion of class B shares of stock upon sale of company. Roger Copland v. Fischer & Porter Co., Pa. Ct. Comm. Pleas (1993)
Represented public company in breach of contract action by former officer concerning provisions of shareholder agreement and underwriting lock-up restrictions for sale of stock obtained during company’s IPO. Lawrence Husick v. Infonautics Inc., Pa. Ct. Comm. Pleas (1998)
Represented privately held Delaware corporation in a Section 220 books and records action. G. William Carlson et al. v. CR Services Corp., Del. Ct. of Chancery (2002)
Represented publicly traded Delaware corporation and several officers and directors in shareholder derivative action involving breach of fiduciary duty claims. Infinity Investors Limited v. Visual Edge Systems, Inc., Del. Ct. of Chancery (1999)