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Winget Spadafora & Schwartzberg LLP’s New York Office Secures Dismissal Of A $7 Million Lawsuit Arising From An Alleged Illegal Stock Issuance By A SPAC
Partners Harris B. Katz and Alexander A. Truitt successfully obtained dismissal of all claims against their client in a complex securities litigation pending before the New York Supreme Court, Commercial Division. The lawsuit alleged that a special purpose acquisition corporation (the “SPAC”), its CEO, and outside counsel engaged in ultra vires conduct by purportedly issuing […] More
DOJ Indictment of Former GWG CEO May Trigger New Wave of Customer Claims Filings
On November 4, 2025, the Department of Justice filed an indictment against Bradley Heppner, former CEO and Chairman of GWG Holdings, alleging securities fraud and the diversion of $150 million from GWG L Bond proceeds. This marks a significant development in the ongoing GWG litigation landscape. While the criminal proceeding targets a former executive and […] More
New Massachusetts Regulations on “Junk Fees” Expected to Increase Class Action Filings
The Massachusetts Office of the Attorney General (“AGO”) issued regulations regarding “junk fees” which took effect on September 2, 2025. Attorney General Andrea J. Campbell defined junk fees as “hidden, surprise, or unnecessary costs that increase the total price of a product beyond the advertised price.” The regulation, promulgated as 940 CMR 38.00, will have […] More
WSSLLP Boston office obtains complete dismissal for clients in suit brought by high-profile property developer on Martha’s Vineyard who alleged violation of his Constitutional rights
In Xerxes Aghassipour, et al. v. Cormie, et al. (Dukes County Superior Court Case No. 2574CV00002), Plaintiff alleged that officials of the Town of Tisbury and the Martha’s Vineyard Commission were individually liable for violations of his substantive and procedural due process rights asserted under § 1983. Plaintiff’s claims were based on a development project […] More
SEC Removes 15% Cap on Private Fund Investments by Retail Closed-End Funds—Litigation and Enforcement Risk Implications
The SEC has just announced a significant policy shift regarding registered closed-end funds offered to retail investors – they are no longer subject to the longstanding staff-imposed 15% cap on investments in private funds of the Investment Company Act. This policy change will provide greater access for non-accredited retail investors to invest in private equity […] More
WSS’s Philadelphia Office Prevails on Motion to Dismiss in Civil RICO Case Seeking Hundreds of Millions of Dollars
On May 20, 2025, Joel Wertman and Doug Fogle of Winget, Spadafora & Schwartzberg LLP’s Philadelphia, Pennsylvania office successfully prevailed on a motion to dismiss on behalf of its client, a financial services and advisory firm, in a civil Racketeer Influenced and Corrupt Organizations (“RICO”) case pending before the United States District Court for the […] More
