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

Paine, William H.

William H. Paine

Partner

+1 617 526 6134 (t)

william.paine@wilmerhale.com

Publications & News

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August 9, 2017

Cybersecurity Failures May Bring SEC Enforcement Actions, Dan Schubert Tells Wolters Kluwer

WilmerHale Partner Dan Schubert in a Wolters Kluwer interview discusses how cybersecurity issues can lead to SEC enforcement actions.

August 4, 2017

SEC Confirms Certain ICOs Are Securities Offerings; Regulators Renew Focus on Cryptocurrencies

Participants and observers in cryptocurrency markets have long expected input from the SEC on the question of whether offerings of cryptocurrencies would be subject to the federal securities laws. On July 25, the SEC issued a Report of Investigation pursuant to Section 21(a) of the Securities Exchange Act of 1934 of its investigation of an offering of digital tokens by “The DAO,” an unincorporated virtual organization.

June 19, 2017

Implications of the Supreme Court's Kokesh Decision

Earlier this month, the Supreme Court ruled unanimously in Kokesh v. SEC that a claim for disgorgement arising from the violation of federal securities law constitutes a “penalty” for purposes of the general statute of limitations provision in 28 U.S.C. § 2462.

June 13, 2017

One Year After Ambac: Sharing Information Among Deal Parties

In this Law360 article, Daniel Halston, Alexandra Boudreau and Jeffrey Schomig explain that the common interest doctrine remains a thorny issue one year after the major Ambac Assurance Corp. v. Countrywide Home Loans Inc. decision.

June 9, 2017

The Legal 500 United States 2017 Recognizes 125 WilmerHale Lawyers Across 28 Practice Areas

The Legal 500 United States has released its 2017 rankings, recommending 125 WilmerHale lawyers—including 12 who are named to its elite “Leading Lawyers” list and two on its “Next Generation Lawyers” list—and 28 practice areas in its 11th edition.

May 30, 2017

The National Law Journal Names WilmerHale Washington DC Litigation Department of the Year

The National Law Journal has named WilmerHale the 2017 Washington DC Litigation Department of the Year in the General Litigation category.

May 26, 2017

WilmerHale Lawyers and Practices Recognized in 2017 Edition of Chambers USA

Chambers and Partners announced its rankings for the 2017 edition of Chambers USA: America's Leading Lawyers for Business, with WilmerHale listed among the nation's best in 50 practice area categories. Chambers also ranked 86 WilmerHale lawyers as leaders in their respective fields.

March 21, 2017

Judge Dismisses Securities Fraud Claims Against Texas Attorney General

The Wall Street Journal reported the dismissal as a “wholesale defeat” of the Securities and Exchange Commission, which had brought the claims in a civil suit.

March 2, 2017

SEC Enforcement—2016 in Review and Looking Ahead to 2017

The article describes some of the key issues arising from the nearly 870 SEC enforcement actions and more than $4 billion in disgorgement and penalties imposed in 2016. This article was republished by the Harvard Law School Forum on Corporate Governance and Financial Regulation.

February 7, 2017

Global Anti-Bribery Year-in-Review: 2016 Developments and Predictions for 2017

The past year was consequential for FCPA enforcement in numerous respects, including blockbuster penalties, new policy initiatives, and the SEC's first DPA with an individual for FCPA violations.