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.
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.
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.
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.
Represented Securities-Licensed Representatives in Multi-State Investigation
Represented four securities-licensed representatives of a securities issuer in a multi-state investigation concerning registration and licensing issues. Secured agreement from involved states to not charge or seek action against the clients.
Obtained Dismissal in Shareholder Derivative Suit for Major Fund Complex
Represented a major fund complex in connection with a shareholder derivative suit involving auction rate securities. Successfully obtained dismissal of the case.
Successfully Resolved FINRA Matter for Regional Broker-Dealer
Defended regional broker-dealer firm in FINRA sweep related to sale of L-share variable annuities. Resolved matter with no-action and non-disclosable, non-reportable closure letter.
Defended Representatives in Multi-State Investigation of Sales Practices
Defended multiple registered representatives in multi-state investigation of sales practices through a marketing organization. Secured no-action resolution for all represented agents in all states involved on a non-reportable, non-disclosable basis.
Favorable Settlement Agreement for Broker-Dealer in SEC Action
Negotiated favorable settlement agreement on behalf broker-dealer client with U.S. Securities and Exchange Commission, including securing a waiver of disqualification from the SEC Division of Corporate Finance.
Obtained Securities Registration Exemption in Construction of New Mill
Assisted client with obtaining securities registration exemption for Missouri new generation processing entities for purpose of construction of new mill. Worked with Missouri Agricultural and Small Business Development Authority and the Missouri Securities Division to secure the exemption paving the way for capital formation necessary for construction of a new facility.