Our practice in this area includes the defense of claims under the federal securities laws as well as state Blue Sky laws and common-law theories of liability. These claims often involve allegations of unsuitability, churning, failure to supervise, unauthorized trading, fraud, misrepresentations, selling away, best execution, insider trading, negligent hiring and violations of industry rules and regulations. At every turn, we have taken a leading role in representing industry clients with regard to the cutting-edge issues of the day, from life settlements to variable annuities to after-hours trading.
Securities Litigation and Arbitration
Recent developments in the securities industry and the economy as a whole have led to an explosion of claims involving registered representatives, investment advisors, and their firms.
Our Securities Litigation and Arbitration Practice Group has decades of experience representing broker-dealers, registered representatives and other investment professionals in a wide-array of securities industry claims before numerous state and federal courts as well as in arbitrations before the Financial Industry Regulatory Authority (“FINRA”). Because of our experience, we have not only a deep understanding of the complex subject matters that often arise in this specialized area of the law, but also an in-depth knowledge base concerning the individual judges and arbitrators who decide these claims, and the experts who often testify in such matters.
While our attorneys have decades of experience representing industry clients in litigation matters, handling claims effectively and efficiently under today’s trying conditions requires more than just a lawyer who understands how to litigate. It is also critical to understand the business of the securities industry and the underlying financial products and services at issue. With an office just a stone’s-throw away from Wall Street, our attorneys make every effort to stay one step ahead of emerging trends and developments in the securities industry in order to provide timely and well-informed guidance to our clients.
Our diverse client base includes wirehouse firms, independent broker-dealers, discount brokers and full-service firms, as well as the registered representatives, compliance and supervisory personnel and the principals / owners associated therewith. We have an in-depth understanding and appreciation of the different issues that often arise with respect to each of these business models.
Our Securities Litigation and Arbitration Department handles cases that fall within two broad categories:
As a result of the tumultuous developments in the securities industry, there has been a surge in the number of industry disputes, including litigation arising out of movement of professionals from one firm to another. This type of litigation is particularly demanding, given the high stakes and the need for effective and immediate action. Our experience litigating in this area, combined with our in-depth knowledge of the substantive aspects of our clients’ business, means that we do not have to waste valuable time coming up to speed while a temporary restraining order dispute is pending.
Our attorneys have litigated numerous cases involving inter-industry disputes, including claims of “raiding,” violations of non-compete/non-solicitation agreements, unfair competition, tortious interference, defamation and disparagement, and misappropriation of trade secrets. These cases are litigated in FINRA arbitration as well as in federal and state courts, and may involve breach of contract claims as well as claims premised upon common-law theories even where no contract is present. Depending on the circumstances of each individual case, we employ a combination of litigation and negotiation strategies in an effort to obtain timely and cost-effective results for our clients.