Corporate and Securities Litigation

Armstrong Teasdale LLP has extensive experience in virtually all aspects of securities and commodities litigation. It has represented plaintiffs and defendants in connection with cases under Section 11, 12 and 17(a) of the Securities Act of 1933; Rule 10(b)-5, Sections 13(b) and 14(d) of the Securities Exchange Act of 1934; and comparable provisions of the Commodity Exchange Act. In addition, we have participated in litigation under the Investment Advisors Act and the Trust Indenture Act of 1939. In addition to disputes involving publicly held companies, we have been involved in numerous minority oppression and of intra-shareholder disputes for closely held companies. These matters have been litigated in both federal and state court.

The Firm also has an extensive securities arbitration practice before the NASD, NYSE, and AAA securities panels. The Firm’s securities litigators have represented a variety of national, regional, and local brokerage firm’s in customer disputes, as well as in technical interdealer disputes.

In takeover litigation matters, we have represented both bidders, targets and/or their boards of directors and litigation committees in litigation arising out of potential or actual takeover efforts, including tender offers and proxy contests.

Corporate and Securities litigators have also conducted significant internal investigation engagements for audit committees and boards, ranging from accounting to insider trading matters. In the wake of Sarbanes-Oxley, we are well versed in all corporate responsibility reforms and requirements.

We pride ourselves on results. Armstrong Teasdale has prevailed in some of the most significant securities cases decided in the United States Court of Appeals for the Eighth Circuit, including the first case to enforce a customer arbitration agreement prior to the Supreme Court’s recognition of the enforceability of such agreements. Recently, our securities litigators obtained a defendants’ jury verdict in a major “churning” case against a brokerage firm and its employee broker in a state court action alleging securities fraud and breach of fiduciary duty.

Practice Highlights

• Representing Merrill Lynch in a putative class action involving Enron pending in the Southern District of Illinois.
• Representing Merrill Lynch in the Marion Merrill Dow shareholder litigation pending in the Western District of Missouri and elsewhere.
• Representing Union Electric Company in a major class action bondholder dispute;
• Representing The Life Insurance Company of Virginia in a class action securities case in the Eastern District of Missouri;
• Representing Rawlings Sporting Goods in a punitive class action as a result of a sudden drop in its stock price, we were able to obtain a dismissal of most class claims, which led to a favorable settlement for the client;
• We obtained a defendant’s verdict on behalf of a national brokerage firm in connection with fraud, churning, excessive fees, and mismanagement allegations against the managers and advisors to the Police Retirement System of St. Louis. In the Police Retirement System of St. Louis v. Midwest Investment Advisory Services, Inc., et al. litigation, the allegations against our client, a major national brokerage firm, related to excessive commissions and improper soft-dollar transactions. This verdict was affirmed by the Eighth Circuit.
• Our firm has handled hundreds of securities arbitrations, trying the vast majority of them to successful conclusions. These cases have given us vast experience in every facet of potential customer disputes.

Representative Matters

• Merrill Lynch, Pierce, Fenner & Smith, Inc. (Regional representation on a continuing basis for customer litigation and arbitrations, employment matters, and opinions on Missouri Law);
• A. G. Edwards and Son’s Co., Inc. (Representation in a variety of public offerings, mergers and acquisitions);
• Stifel Nicolaus & Co., Inc. (Representation in a variety of NASD arbitration matters)
• Edward D. Jones & Co., Inc. (Representation as underwriter’s counsel on major public offerings);
• Thomas James Associates, Inc. (Representation in NASD customer arbitrations);
• First DFW Securities, Inc. (Representation of clearing broker in bond trading claim);
• Scottsdale Securities, Inc. (Representation of broker-dealer, including customer and employee arbitration);
• Bridge Trading Company (General representation on litigation matters)
• American International Group (AIG) (Representation of AIG insured broker-dealers throughout Missouri, Kansas, Nebraska and Illinois.

Members of the Corporate and Securities Litigation Practice Group

Cauwels, Teresa	King, Melanie
Francis, Byron	Tucker, Larry
Galt, Scott	Valentino, Jonathan
Jermann, David	Wood, Lisa