Securities Litigation

High-stakes securities litigation demands the attention of sophisticated counsel experienced with civil and criminal proceedings, internal investigations, and SEC and other federal and state regulatory actions. The outcomes of these cases can be vital to you and your company’s future.

Our team has an extraordinary record of success representing clients in securities class actions, derivative suits, litigation, and SEC or other regulatory investigations and enforcement proceedings. As a firm that has tried and won securities cases, we will not hesitate to take a case to trial when it is necessary and in your best interest. We believe that our reputation as excellent trial attorneys helps to force settlements on terms that are very favorable to our clients. 

As our track record demonstrates, we take an aggressive and cost-effective approach to defending securities suits by seeking dismissal as early as possible to avoid expensive and time-consuming discovery. In a number of cases, we succeeded in persuading plaintiffs to withdraw their claims even before the court issued a decision.

Quick Facts

  • Significant trial experience
  • National reputation as lead defense counsel in handling securities class actions, government investigations relating to allegations of financial misconduct, and regulatory enforcement proceedings
  • Successful track record resolving complex claims in parallel proceedings
  • Deep experience representing companies, directors and officers, special committees, investment advisors, funds, and broker-dealers with securities-related concerns
  • $5+ billion recovered for clients through our unique Institutional Investor Class Action Recovery Practice

Areas of Focus

  • Broker-dealer issues
  • Class actions
  • Complex derivatives issues
  • Contested mergers and acquisitions
  • Corporate compliance
  • Corporate control disputes
  • Financial fraud
  • Gifts and gratuities

Rankings & Recognitions

  • Attorneys recognized by Chambers USA, Best Law Firms (Securities Regulation), Benchmark Litigation, Best Lawyers, Super Lawyers, and Ethisphere Institute's Attorneys Who Matter
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Representative Experience

  • Represented a former employee of a pre-eminent financial services industry firm charged with violations of the securities laws in connection with the firm's sale of funds invested in subprime securities. Prevailed in a three week trial before the SEC’s Chief Administrative Law Judge, and again before the First Circuit Court of Appeals.
  • Represented global investment bank and a group of underwriters in connection with claims arising from the IPO and subsequent earnings restatement of the public company. We obtained an expeditious resolution of the matter that resulted in a full release of our client with no admission of liability and no payment.
  • Retained as trial counsel to defend former CFO of a two-and-a-half billion-dollar NYSE-listed company based in China, in a securities class action trial relating to the company's 2011 financial collapse. Having obtained an $880 million default judgment against China-based corporate defendants, Plaintiffs alleged that the CFO had acted recklessly and made misstatements about the company's financial health. Secured a favorable trial verdict and resulting settlement that required no monetary payment from the CFO.
  • Represented a senior, long time investment bank executive who was at the center of the bank’s conduct during the subprime crisis. We led the executive’s interactions with Congress, the SEC, the DOJ, the FCIC, and in private lawsuits -- all of which received widespread media coverage.
  • Represented a real estate fund manager in an SEC and DOJ investigation into the amount of fees paid by the fund to the manager.
  • Represented a high level executive at a major New York hedge fund that was under investigation for the way it handled investments in small public companies that arose through reverse mergers.
  • Defended leading franchiser of consumer brands against shareholder litigation arising out of business reversal following a leveraged acquisition. This included hedge fund litigation in California state court and shareholder class and derivative actions in New York. Settled very favorably on the eve of oral argument on dispositive motions.
  • Won national class action for a leading mutual fund company (assets: $200 billion), accused of manipulating commodities and securities markets when the U.S. Treasury Department cancelled the 30-Year Treasury Bond. After five years of litigation, the Court denied class certification and entered summary judgment for our client on the merits.
  • Represented leading independent financial services firm ($120+ billion variable contracts in force), in multiple FINRA regulatory investigations concerning a variety of broker/dealer securities issues. Persuaded FINRA Enforcement Director to drop multi-year investigation into allegedly fraudulent pricing practices.
  • Represented underwriters in a class action securities litigation. The complaint alleged that the defendants made material misrepresentations and omissions concerning the company’s real estate lending operations and the financial condition of those operations. After significant motion practice concerning, among other things, the claims under the '33 Act and certain aspects of the class status of the case, the matter was settled with our clients making no payments.
  • Defended public pharmaceutical company and its officers against 10b claims and Section 11 claims arising out of a secondary public offering and successfully obtained a motion to dismiss these claims on behalf of our client.
  • Represented the CEO of a global media company in shareholder litigation, consolidated in the Delaware Court of Chancery, pertaining to a "going private" transaction. We achieved settlement on very favorable terms for the client.
  • Represented the former officers and directors of a public company in a shareholder class action alleging violation of Section 11 of the '33 Act brought by former shareholders of a company previously acquired by our client. We prevailed at the motion to dismiss stage, advancing a novel legal argument demonstrating the lack of legally cognizable damages. We secured an affirmance of the dismissal on appeal.
  • Served as lead trial counsel for a technology company in Chancery Court merger litigation against acquisition target for breach of stock purchase agreement. Negotiated favorable settlement on third day of trial whereby client achieved objective of closing acquisition at a lower price, and through an immediately accretive cash tender. Successfully defended separate shareholder class action challenging proxy disclosure and deal economics in California Superior Court; case dismissed with prejudice.
  • Represented technology company and its officers and the inside directors in a case where the plaintiff class alleged a variety of securities violations. Plaintiffs claimed that the company misrepresented its financial condition by failing to take a reserve for obsolescent inventory. After successfully obtaining dismissal of certain claims, we negotiated a favorable settlement.
  • Represented the former directors of a US media company in a matter commenced by a litigation trustee. The trustee asserted claims that the former directors breached their fiduciary duties by failing to file for bankruptcy sooner to preserve assets for the benefit of the creditors. The case settled on favorable terms, requiring no monetary payments by our clients and no admission of liability.
  • Defended a leading mutual life insurer ($65 billion policies in-force), in a federal court jury trial concerning the marketing and performance of 46 thousand Equity Indexed Universal Life Insurance policies. In 2009 and 2010, obtained dismissal of initial complaints in their entirety, and obtained decertification of most class claims in 2013. Prevailed on remaining jury claims following a jury trial in 2014, and prevailed on all non-jury claims in April 2015, for a total defense victory. We are currently defending Ninth Circuit appeal.
  • Led investigation for the Audit Committee of a leading medical device company into financial reporting, regulatory compliance issues and allegedly corrupt practices in business units on four continents. Supervised accounting restatement of distributor transactions and reserves over several reporting years. Represent client in ongoing SEC enforcement inquiry.
  • Won a jury verdict defending a global public biotechnology company in a $68 million securities fraud class action suit. In the pretrial phase, Mintz Levin obtained dismissal of the majority of the plaintiffs’ claims. After an eight-day trial, the jury needed just three hours to reach a verdict completely absolving both the company and its chairman of any wrongdoing. The National Law Journal featured the victory as one of the top defense verdicts in the country.

Clients We Serve

  • Publicly traded companies
  • Companies looking to publicly list
  • Corporate officers and directors
  • Issuers, auditors, and underwriters
  • Investment banks, mutual funds, broker-dealers, hedge funds
  • Investment advisors
  • Special committees