WilmerHale has represented professional services clients in sensitive and often confidential matters around the globe.
Big 4 Representations
We have been involved in most of the prominent financial and professional standards cases involving auditors over the past two decades, including, for example, litigation and investigations relating to the failure of the mortgage-backed securities market; advice and investigations concerning cyber-intrusions; criminal and civil investigations and private litigation relating to insurance and financial services markets following the 2007-2008 financial crisis; US Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) inquiries concerning auditor independence; litigation and investigations concerning alleged misvaluation of illiquid assets; and criminal, civil and private actions in connection with supposed market distortions caused by “channel stuffing.”
Many of our cases on behalf of accounting firms involve parties and/or proceedings outside the United States. For example, we have advised Big 4 networks and member firms in connection with US and Indian investigations and litigation arising from the then-largest financial fraud in Indian history; anti-corruption investigations involving entities based in Afghanistan, Australia, India, Israel, Monaco, the Netherlands, Peru and Sweden; collateral consequences arising from the release of the Panama Papers; US and non-US proceedings arising from the failure of Yukos in Russia; investigations and regulatory implications of the Luxembourg Leaks matter arising from the release of confidential tax rulings; investigations and litigation arising from potential code of conduct violations in Canada, Central and South America, Central Europe, Western Europe, and the Southern Caribbean; and criminal and civil litigation arising from the largest corporate failure in Caribbean history.
We have represented auditors successfully in litigation in federal and state courts throughout the United States, including in securities class actions, opt outs, derivative actions and negligence suits. In addition, we regularly appear for Big 4 clients before Congress, federal regulatory agencies, and standards-setting bodies in inquiries, standard setting proceedings and testimony. We also regularly advise auditors, corporate clients and individuals about legal and regulatory standards applicable to accounting and auditing.
Law Firm Representations
WilmerHale has represented law firms, alternative legal service providers and individual attorneys in a range of contexts. In particular, we advise clients with complex questions in areas including professional responsibility, practice-of-law questions, cybersecurity and bankruptcy matters. Our representations have spanned advice on the regulatory, ethical and professional standards, internal investigations, defense in government investigations, and litigation.