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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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.

February 6, 2017

SEC Dismisses Claims Against WilmerHale Clients

On February 3, the US Securities and Exchange Commission dismissed with prejudice the remaining claims against two former mortgage-lending officials in a financial crisis-related lawsuit on the eve of a retrial.

February 1, 2017

Bloomberg BNA Interviews Meredith Cross on the SEC's Future

The in-depth interview covered a range of topics, including the SEC's likely regulatory outlook over the next four years, the future of Dodd-Frank Act policies implemented by the agency, and the Division of Corporation Finance's priorities this year.

January 9, 2017

Former US Attorney John Walsh Joins WilmerHale

Former US Attorney for the District of Colorado John Walsh has joined the firm as a partner in its Denver office. Walsh will lead the office's litigation practice, including its government investigations, crisis management, securities litigation and white-collar criminal litigation work.

January 4, 2017

Trump, Congress Should Break Up SEC's In-House Courts

In an op-ed piece in The Hill, Partner Matthew T. Martens calls on the incoming Trump Administration and Congress to rein in the use of in-house courts by the Securities and Exchange Commission.

January 3, 2017

SEC Settles Two More Whistleblower Protection Cases

Continuing its efforts to bring enforcement actions for violations of whistleblower protections, the Securities and Exchange Commission recently settled two more cases. Both cases involved severance agreements that contained provisions that, the SEC asserted, expressly prohibited former employees from communicating with the government about possible violations of law. This WilmerHale Client Alert was republished by Law360.

December 2, 2016

Change and Continuity in Securities Regulation

Given the fluidity of the regulatory environment, making accurate predictions regarding what to expect from the SEC under a new Administration and a new Chair is difficult. Nevertheless, in this Client Alert we explore possible key areas of securities regulation that may be affected under the new Administration. This Client Alert was republished by the Harvard Law School Forum on Corporate Governance and Financial Regulation.

November 22, 2016

United States: Handling Internal Investigations

Stephen Jonas and Daniel Schubert published this chapter for The Investigations Review of the Americas 2017 in partnership with Global Investigations Review, which provides a brief primer on how to conduct an effective internal investigation in the United States.