Loeb & Loeb's securities litigators represent financial institutions, broker-dealers, corporations and their officers and directors in complex securities litigation, arbitrations and regulatory proceedings. As the regulatory climate becomes more strict and continues to put greater pressure on the industry, our national Securities Litigation, Arbitration and Regulatory Enforcement Group partners work with our clients to help to ensure aggressive, quality, focused representation.
Our lawyers have vast experience litigating securities class actions and derivative actions throughout the country, from pleadings through trials and appeals, as well as regulatory investigations and enforcement proceedings. We have handled hundreds of securities arbitrations before the Financial Industry Regulatory Authority, the National Association of Securities Dealers, the New York Stock Exchange and other self-regulatory organizations. We have also represented several of the major accounting firms in securities-related professional responsibility lawsuits.
We also handle employment litigation and arbitration matters for the securities industry. Our areas of concentration include civil litigation before state and federal courts in cases involving ERISA matters; bonus compensation and contract disputes; class action wage and hour issues; discrimination, harassment and wrongful termination; unfair competition, corporate raiding, trade secret misappropriation and enforcement of restrictive covenants.
Our collective experience comes not only from trying and arbitrating hundreds of cases, but also from the prior experience of our team members, including former assistant U.S. attorneys, assistant district attorneys, general counsels, and managers in the securities industry. With this inside perspective, we are able to assess cases early, pursue mediation avenues, and provide robust counsel to our clients. Our approach has resulted in an excellent track record of trial and arbitration victories, as well as extremely favorable settlements for our clients.
Recent successes include:
- Defeated an $13 million claim against a major financial services firm following a five-day arbitration hearing in which the claimant alleged misrepresentations relating to the sale of complex structured products known as variable prepaid forward contracts.
- Obtained favorable resolution of putative class action on behalf of a Chinese issuer and its officers and directors, following dismissal on motion of portion of case on materiality grounds.
- Obtained dismissal of numerous claims, including a Section 10(b) claim, brought against a trust company in a multiparty securities fraud litigation arising out of a stock purchase agreement.
- Obtained dismissal of all claims against a publicly traded gemstone company and several of its officers and directors in a securities class action.
- Obtained dismissal of all claims against a former president and CEO of a publicly-traded entertainment company in a putative securities class action.
- Defended several underwriters in IPO allocation litigation.
- Obtained dismissal of federal actions in going private litigations.
- Successful management of a total of 12 separate cases filed in five different courts in connection with a going private litigation, resulting in consolidation of all of the cases before a single court in defendants’ preferred forum.
- Obtained favorable result for clearing corporation client in litigation involving alleged improper liquidation of margin accounts following dismissal of portion of case on motion.
- Obtained summary judgment in favor of large financial services firm in ERISA-related litigation involving investments.
- Represented off-shore affiliate of broker-dealer and several current and former employees in connection with various Madoff-related matters.
- Currently representing broker-dealer in scores of federal and state court litigations involving the firm’s pension consulting services business.
- Obtained numerous awards in clients’ favor following FINRA arbitration hearings, including dismissal of $20 million unauthorized trading claim, denial of $20 million improper margin liquidation claim, and recent denial of $13 million claim involving prepaid forward contracts.
- Defended a major broker-dealer in industry arbitrations and a putative class action arising from alleged sales practice violations relating to collateralized mortgage obligations.
- Successfully defended several registered representatives before FINRA’s Department of Enforcement.
- Recently tried case against FINRA’s Department of Enforcement on behalf of registered representative (awaiting decision).
- Filed successful Wells submission for China-based company accused of filing a false 8-K.
- Represented a major accounting firm in connection with multiple investigations by the US Securities and Exchange Commission and an investigation by the Public Company Accounting Oversight Board.
Clients and Industries
We represent a wide range of corporations and individuals in the financial services industry, including:
- Wedbush Morgan Securities
- Merrill Lynch, Pierce, Fenner & Smith Incorporated
Leadership in Law
Members of the Securities Litigation, Arbitration and Regulatory Enforcement Group routinely conduct continuing legal education (CLE) programs for the firm's clients in the areas of securities law, expert testimony, document retention, and electronic discovery. Loeb & Loeb is an active sponsor of the Securities Industry and Financial Markets Association Compliance & Legal Division's annual conference and the firm also sponsors several other securities industry events.