Security Litigation

One of the firm’s largest practice areas is securities litigation.  Unlike most corporate law firms, which traditionally represent only defendants, we frequently represent plaintiffs as well.  For decades, the firm has represented both plaintiffs and defendants in many of the highest-profile securities cases in the United States.  More recently, our global presence has allowed us to advise and represent clients in a broad range of complex securities disputes in major financial markets overseas, including Australia, the U.K., Europe, and Asia.  Many of our representations have involved dozens of related shareholder-derivative and class action claims.  Over the past eight years, we have achieved verdicts and settlements totaling over $47 billion for our clients in the wave of litigation that arose in the aftermath of the U.S. financial crisis.

We have litigated every type of securities case, including:

  • Claims under the Securities Act of 1933 and the Securities Exchange Act of 1934
  • Fraud and non-disclosure cases under state blue-sky laws
  • Market manipulation cases
  • Takeovers and proxy disputes
  • All holders/best-price rule tender offer litigation
  • Insider trading
  • Option disputes
  • Valuations

In securities cases, we have represented:

  • Fortune 500 companies
  • Investment banks
  • Directors and officers
  • Special committees
  • Audit committees
  • Institutional investors
  • Hedge funds
  • Financial advisors
  • Broker-dealers

We try more complex business cases than any other U.S. firm (The Lawyer 2017).  We believe this gives us a distinct advantage in the courtroom, and gives our clients an advantage during settlement negotiations, where the credible threat of an actual trial can hasten a favorable settlement.  Many securities cases involve long, complex hearings on pleading motions or requests for injunctions and other preliminary relief, where our courtroom skills are often vital to success.

Not all of our securities work involves litigation.  Clients often call upon us for general advice, including designing and conducting internal investigations into areas such as options backdating and insider trading.  Our experience and skill in interacting and negotiating with prosecutors and regulators, including those at the DOJ, the SEC, the CFTC, the FTC, and the CFPB, means we are well positioned to handle such tasks.