Securities & Complex Commercial Litigation

  • Represented one of the world’s largest independent market makers in a putative class action alleging defendant market makers violated the Securities Act and state laws by selling unregistered securities. Our client successfully moved to dismiss 29 of plaintiffs’ 30 claims, and then we led the remaining defendants in successfully moving for summary judgment dismissing the remaining claim in Ohio federal court.
  • Representing leading national securities exchanges in consolidated putative class actions filed in New York federal District Court following the release of Michael Lewis’ Flash Boys. The plaintiff alleged contractual breaches arising out of the exchanges’ method of data dissemination. Our clients obtained a full dismissal of all claims by the District Court.
  • Representing leading national securities exchanges in putative class action filed in New York federal court alleging claims of securities fraud relating to high-frequency trading. The District Court dismissed all claims.
  • Representing the Special Litigation Committee of the Board of Directors of a NYSE-listed company in investigating shareholder derivative claims concerning the fairness of a proposed multi-billion dollar merger transaction.
  • Representing several mortgage originators in multiple civil actions in state court, federal court and bankruptcy court alleging billions of dollars in damages arising out of alleged breaches of representations and warranties with respect to mortgage loans.

Looking Forward

This year was a period of tremendous growth and opportunity, characterized by innovative and aggressive strategies for growth and capital raising, in particular in the crypto space, and via the use of Special Purpose Acquisition Companies (SPACs). We anticipate increased litigation impacting both of these areas as certain investments fail to generate hoped-for results and investors seek to recoup losses. Moreover, as the country continues to recover from the various impacts of the COVID-19 public health crisis and access to the courts becomes less burdensome, we anticipate an increase in litigation activity generally in all forums.