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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May 3, 2018

WilmerHale Lawyers and Practices Recognized in 2018 Edition of Chambers USA

Chambers and Partners announced its rankings for the 2018 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 95 WilmerHale lawyers as leaders in their respective fields.

May 1, 2018

Contemplating an ICO? It’s All Fun and Excitement Until the SEC Comes to Call

In the case of initial coin offerings (ICOs), the law is laid down by the US Securities and Exchange Commission. Over the past few months, this agency has been ramping up its warnings about ICOs that fail to comply with US securities laws. Read this article published by Bloomberg Law's Securities Regulation & Law Report, written by Jennifer Zepralka and Glenn Luinenburg.

April 2, 2018

FINRA Requests Comment on Proposed New Outside Business Activities Rule

FINRA is seeking comment on a proposed new rule, FINRA Rule 3290 (the “Proposed Rule”), which governs the outside business activities and private securities transactions of registered persons. The Proposed Rule would replace both current FINRA Rule 3270 (Outside Business Activities of Registered Persons) and current FINRA Rule 3280 (Private Securities Transactions of Associated Persons), and is intended to reduce unnecessary burdens and focus compliance resources on activities most likely to pose a risk to investors.

March 8, 2018

The #MeToo Movement: The Critical Role of the Board in Preparing for, Responding to and Avoiding Sexual Misconduct Allegations

As the #MeToo movement gains momentum, companies in nearly every major industry are dealing with allegations of gender discrimination, sexual harassment or even sexual assault—including allegations of widespread misconduct and inappropriate behavior within the upper echelons of the corporate structure.

February 23, 2018

Supreme Court Articulates Dodd-Frank Whistleblower Definition in Digital Realty Trust, Inc. v. Somers

On February 21, 2018, the Supreme Court held in Digital Realty Trust, Inc. v. Somers that the anti-retaliation whistleblower protections under the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) apply only to those who have reported allegations to the Securities and Exchange Commission (“SEC”) as of the time of the allegedly retaliatory conduct.

January 12, 2018

Global Anti-Bribery Year-in-Review: 2017 Developments and Predictions for 2018

This past year, which marked the 40th anniversary of the U.S. Foreign Corrupt Practices Act (“FCPA"), demonstrated that the FCPA continues to be a powerful tool in combating corruption abroad and encouraging compliance at global companies.

December 21, 2017

Law360 Names Matthew Martens a Securities Law MVP

Law360 has recognized Partner Matthew Martens as a leading securities lawyer and honored him as a 2017 MVP. The annual contest recognizes lawyers across various practices that “have distinguished themselves from their peers.”

December 20, 2017

WilmerHale Makes American Lawyer's 2017 Finalist List as a Top Litigation Firm

Recognizing the enormous talent and major recent victories of WilmerHale lawyers, The American Lawyer placed the firm's Litigation/Controversy Department in the small group of finalists for the legal publication's 2017 Litigation Department of the Year contest.

November 29, 2017

DOJ Announces New FCPA Corporate Enforcement Policy

Today, “[d]ue to the unique issues presented in FCPA matters,” Deputy Attorney General Rod Rosenstein announced a new FCPA corporate enforcement policy published in a revision to the United States Attorneys' Manual.

October 27, 2017

WilmerHale Ranks No. 1 on Global Investigations Review's List of Top Investigations Practices

WilmerHale has climbed to the top of Global Investigations Review's list of the world's 30 leading investigations and compliance practices.