Securities Litigation LITIGATION/CONTROVERSY

We defend federal and state securities claims against entities and individuals, and derivative and other claims against corporations and their officers and directors. These claims address areas such as prospectus and other disclosure obligations, restatements, mutual fund trading and marketing, broker-dealer duties to clients and counter-parties, fiduciary duties and insider trading. Many of the over 300 securities class actions that we have defended have been for technology companies (including high-tech, biotech and pharmaceutical companies). We also have substantial experience in representing investment banks, broker-dealers and other securities industry participants, investment advisory and mutual fund companies, life insurance and other financial services firms, REITs, and retailers. In recent matters, our lawyers have:

  • Defended mutual fund advisers in the consolidated Market Timing multidistrict litigation (MDL) proceedings, class and institutional investor claims regarding investment advisor fees, and class actions concerning mutual fund marketing practices
  • Taken a leadership role in the defense of over 300 consolidated securities class actions—the IPO Laddering Litigation—and separately obtained the dismissal of class actions against an underwriter challenging IPO allocations and alleged IPO flipping
  • Represented an investment bank in its successful appeal to the Second Circuit of a $164.5 million jury verdict for losses sustained in a nondiscretionary currency trading account

For more on our securities practice, please see our Securities Department pages.

Contacts

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Weiss, Harry J.

Harry J. Weiss

Chair, Securities Litigation and Enforcement Practice Group

+1 202 663 6993 (t)

harry.weiss@wilmerhale.com

Batter III, John F.

John F. Batter, III

Partner

+1 617 526 6754 (t)

john.batter@wilmerhale.com

Berman, Bruce M.

Bruce M. Berman

Partner

+1 202 663 6173 (t)

bruce.berman@wilmerhale.com

Cahn_Mark

Mark D. Cahn

Partner

+1 202 663 6349 (t)

mark.cahn@wilmerhale.com

Curtis, Douglas

Douglas Curtis

Partner

+1 212 230 8802 (t)

douglas.curtis@wilmerhale.com

Eckert, Paul R.

Paul R. Eckert

Partner

+1 202 663 6537 (t)

paul.eckert@wilmerhale.com

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Gail Ennis

Partner

+1 202 663 6014 (t)

gail.ennis@wilmerhale.com

Johnson, Mary Jo

Mary Jo Johnson

Partner

+1 617 526 6750 (t)

maryjo.johnson@wilmerhale.com

Publications & News

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August 4, 2014

Unnoticed Supreme Court Decision Could Narrow Securities Fraud Law

An article by Matt Martens and Mark Cahn, published in the August 4, 2014 edition of Bloomberg BNA's Securities Regulation & Law Report, Vol. 46, No. 1510.

July 2, 2014

DC Circuit Issues Major Ruling Affirming Broad Applicability of Attorney-Client Privilege to Corporate Internal Investigations

On June 27, 2014, the US Court of Appeals for the DC Circuit issued a major decision clarifying the scope of the attorney-client privilege as applied to corporate internal investigations.

June 25, 2014

US Supreme Court Decides Closely Watched Case on ERISA "Stock Drop" Class Actions

In Fifth Third Bancorp v. Dudenhoeffer, a decision written by Justice Breyer, the US Supreme Court unanimously held that plan fiduciaries are not entitled to any special “presumption of prudence” under the Employee Retirement Income Security Act of 1974 (ERISA) when they decide to buy or hold employer stock in an employee stock ownership plan (ESOP).

June 25, 2014

US Supreme Court Updates Basic Inc. v. Levinson Presumption of Reliance for Class Certification Motions in Halliburton Co. v. Erica P. John Fund, Inc.

In Halliburton Co. v. Erica P. John Fund, Inc., a decision authored by Chief Justice Roberts, the US Supreme Court on Monday reversed the Fifth Circuit's decision certifying a class in a securities fraud class action brought under section 10(b) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule 10b-5.

June 24, 2014

US Supreme Court Decides Closely Watched Case on Class Certification in Securities Fraud Matters

In a decision authored by Chief Justice Roberts, the US Supreme Court yesterday reversed the Fifth Circuit’s decision certifying a class in a securities fraud class action brought under section 10(b) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule 10b–5.

June 16, 2014

UK Banking Regulation Addressed in Mansion House Speech

The UK’s Chancellor of the Exchequer, George Osborne, delivered a speech on the state of the British economy, as is customary at the Lord Mayor of London’s annual dinner. In the wake of a number of high-profile investigations into the fixed income, commodity and currency markets, Mr. Osborne announced a number of proposals to strengthen UK banking regulation.

June 9, 2014

US Supreme Court Resolves Executive Benefits on Narrow Grounds, Leaving Unresolved Many Important Questions About Bankruptcy Court Authority

The US Supreme Court earlier today issued its much anticipated decision in Executive Benefits Insurance Agency v. Arkison, No. 12-1200 (June 9, 2014), a follow-on case to the Court's landmark decision in Stern v. Marshall, 131 S. Ct. 2594 (2011), regarding the scope of bankruptcy courts' authority under Article III of the Constitution.

May 23, 2014

Chambers USA Ranks Top WilmerHale Lawyers and Practices in 2014 Edition

We are pleased to announce the names of the individuals and practice areas that are ranked in the 2014 edition of Chambers USA: America's Leading Lawyers for Business.

May 22, 2014

Eleventh Circuit Adopts Broad Definition of Government "Instrumentality" Under FCPA

On May 16, 2014, the Eleventh Circuit, in the first appellate decision on the issue, affirmed a broad definition of “instrumentality” of a foreign government within the meaning of the FCPA, providing important guidance in determining who should be considered a "foreign official" under the statute.

April 25, 2014

WilmerHale Attorneys Recognized in Annual Washington DC Super Lawyers Listing

The annual edition of the Washington DC Super Lawyers magazine, published by The Washington Post Magazine, released its 2014 listing which includes 37 WilmerHale attorneys.