Experience
Counsel for Dual Registrants in Investigations
Represented several dual registrants (B-D/IA) in investigations by the SEC, FINRA and various state regulators concerning alternative investments, complex products, illiquid investments, trading/clearing issues and the duties owed under different regulatory regimes.
Represented Condo Builder in Lawsuit Seeking Rescission of Purchase and Investment Contracts
Represented a condominium builder in connection with class action litigation seeking rescission of purchase and investment contracts for hotel condominium units on the basis that the builder had failed to register the units as securities in violation of Section 12(a) of the Securities Act.
Represented Mortgage Lender in Class Action and SEC Suit Asserting Securities Law Violations
Represented a mortgage lender in connection with shareholder class action litigation asserting securities law violations for alleged material misrepresentations in registration statements whereby the company allegedly portrayed itself as a conservative mortgage lender but had actually made high-risk loans that were comparable to subprime loans. Also represented the mortgage lender’s CEO in connection with a lawsuit by the SEC asserting securities law violations for alleged material misrepresentations concerning the company’s reserves, liquidity issues and loan characteristics.
Advised Investors, Businesses on Potential Securities Regulations
Provided advice to various investors and businesses on potential securities regulations.
Successful Representation in State Securities Matter
Represented individual accused of various state securities violations. Successfully negotiated resolution with no admissions of fault or liability and with no fines or restitution.
Represented Broker-Dealer in FINRA Investigation
Represented a broker-dealer in a FINRA investigation regarding research analyst rules.
Counsel to Portfolio Manager in SEC Investigation
Represented a mutual fund portfolio manager in an SEC investigation regarding cross-trades and odd-lot purchases of fixed-income securities.
Secured Motion to Dismiss in Securities Class Action
Represented a public company in a securities class action in which the court granted our motion to dismiss the complaint.
Counsel for Russian Bank in CFTC Investigation
Represented a Russian bank and its U.K. subsidiary in a CFTC investigation of currency futures trading.
Represented U.K. Bank Trader in DOJ Investigation
Represented the head trader of a U.K.-based bank in a DOJ investigation into possible antitrust violations arising from foreign exchange trading.
Represented PE Firm in Connection with Class Action Litigation
Represented a private equity firm in connection with shareholder class action litigation alleging a conspiracy to fix prices in club leveraged buyout deals in violation of the Sherman Act.
Counsel to Broker-Dealer in FINRA Investigation
Represented the head trader of a broker-dealer in a FINRA investigation regarding Regulation SHO.
SEC, FINRA Investigations of Branch Managers
Represented several branch managers in SEC and FINRA investigations regarding possible failure to supervise.
Counsel in SEC Insider Trading Investigations
Represented several officers, directors and employees of public companies in SEC investigations into possible insider trading in company stock.
Represented Hedge Fund in Federal Trial
Represented a hedge fund and its president in litigation against the SEC in a case alleging late trading and market timing of mutual funds, culminating in a 17-day federal court trial in New York.
Investigations into Potential Securities Law Violations
Conducted internal investigations of public companies and broker-dealers regarding potential securities law violations.
Counsel to Mutual Fund Advisers
Advised several mutual fund advisers on SEC investigations.
Counsel in SEC Investigations, Securities Class Actions
Represented several public companies, mutual funds, and their officers and directors in SEC investigations and securities class actions.
Counsel in FINRA, AAA Arbitrations
Represented broker-dealers and their associated individuals in several FINRA and AAA arbitrations.
Represented Chief Compliance Officer of Nation’s Largest Clearing Firm
Served as lead counsel in an administrative proceeding by the Securities and Exchange Commission (SEC) against chief compliance officer of broker-dealer and clearing firm in allegation of failing to supervise related to failure to deliver securities.
Favorably Resolved Two State Securities Enforcement Matters in 8-Week Period
In the first part of 2020 represented two different clients in separate state enforcement actions, favorably resolving a formal action by securing a dismissal of a cease and desist order, and an investigation with a non-reportable letter of caution.
Won Dismissal of Class Action Securities Litigation Alleging Market Manipulation for Brokerage Firm
Represented a brokerage firm in class action securities litigation alleging manipulation of options market. Won motion to dismiss. Affirmed on appeal by the Third Circuit.
Representation of Investment Advisory Firm in SEC Action, Criminal Investigation Alleging Market Manipulation
Represented an investment advisory firm in parallel SEC enforcement action and criminal investigation regarding allegations of market manipulation.
Outside General Counsel for Large Independent Broker-Dealer Investment Adviser Firm
Served as outside general counsel for large independent broker-dealer investment adviser firm based in the Midwest. Assisted in-house counsel on registration, licensing, product approval, compliance policies, employment matters and state, federal and FINRA regulatory issues.
Represented Broker-Dealers and Registered Representatives in FINRA Arbitration Matters
Represented broker-dealers and their registered representatives in numerous FINRA arbitration matters. Multiple matters tried to award in FINRA arbitration and others resolved via mediation and settlement during course of pre-hearing litigation.
Favorable Settlement with SEC for Offshore Investment Company in Insider Trading Action
Represented an offshore investment company and its trustees in an insider trading action. Reached favorable settlement with the SEC.
Resolved Investigations into Investment Adviser Firm Following SEC, FINRA Actions
Obtained no-action, non-disclosable results in three states on behalf of an investment adviser firm. One East Coast and two Midwest states launched investigations into the firm and its individual representatives following a U.S. Securities and Exchange Commission and FINRA actions, but Armstrong Teasdale secured closure of the investigations without further disclosures on the firm's or the individuals' records.
Resolved State Securities Investigation on Behalf of International Broker-Dealer, Banking Clients
Obtained non-disclosable Letter of Caution in state securities investigation on behalf of an international broker-dealer and banking client. The state securities regulator was pursuing a possible failure to supervise and fraud action against the client, but Armstrong Teasdale was successful in resolving the matter with a non-reportable letter of caution.
Representation of Financial Institution in Securities Class Action Following Acquisition
Represented a major financial institution in class action securities litigation arising from its acquisition of another major bank.
Defense of Officers, Directors in Securities Investigations
Participated in the defense of former officers and directors of publicly held government support manufacturer in securities investigations by federal and state authorities.
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