Securities & Complex Commercial Litigation

  • Represented one of the world’s largest independent market makers in a putative class action alleging defendant market makers violated the Securities Act and state laws by selling unregistered securities. Our client successfully moved to dismiss 29 of plaintiffs’ 30 claims, and then we led the remaining defendants in successfully moving for summary judgment dismissing the remaining claim in Ohio federal court.
  • Representing leading national securities exchanges in consolidated putative class actions filed in New York federal District Court following the release of Michael Lewis’ Flash Boys. The plaintiff alleged contractual breaches arising out of the exchanges’ method of data dissemination. Our clients obtained a full dismissal of all claims by the District Court.
  • Representing leading national securities exchanges in putative class action filed in New York federal court alleging claims of securities fraud relating to high-frequency trading. The District Court dismissed all claims.
  • Representing the Special Litigation Committee of the Board of Directors of a NYSE-listed company in investigating shareholder derivative claims concerning the fairness of a proposed multi-billion dollar merger transaction.
  • Representing several mortgage originators in multiple civil actions in state court, federal court and bankruptcy court alleging billions of dollars in damages arising out of alleged breaches of representations and warranties with respect to mortgage loans.

Looking Forward

The COVID-19 pandemic will have a significant impact on litigation in the nxt year, including disputes stemming from failed business combinations, closed businesses, and breached commercial contracts. Commercial real estate delinquencies might produce a wave of commercial mortgage-backed securities litigation, reminiscent of the residential mortgage-backed securities litigation following the financial crisis. And business interruptions could
lead to increased litigation concerning force majeure and similar contractual provisions.