Securities and Financial Services Litigation


The Firm’s Financial Services and Securities practice group has extensive experience representing broker-dealers, hedge funds, advisors and their principals and associated persons as both claimants and respondents in arbitrations and other forms of alternative dispute resolution. Whether under the auspices of FINRA, the American Arbitration Association, JAMS or the International Chamber of Commerce, our attorneys have successfully handled all manner of industry and customer disputes, including trade secret and DTSA matters, raiding and restrictive covenants, breach of contract, misrepresentation, breach of fiduciary duty, compensation and other disputes, including those relating to crypto investments and crypto-collateral.

Securities Litigation

In the courtroom, LPGM regularly defends public companies, advisors, distributors, brokers, hedge funds, lenders, investment companies, mutual funds, and their officers and directors in class, derivative and other federal and state court litigation. Arising under the Securities Act of 1933, Securities Exchange Act of 1934, Investment Company Act of 1940, Investment Advisers Act of 1940, the Martin Act, and common law, these cases address valuations, investment objectives and strategy, risk management, insider trading, financial reporting, liquidity, performance and distributions, among other issues. We have successfully resolved complex matters involving equities and bonds, options, inverse floaters, mortgage- and other asset-backed securities, swaps, open-end and closed-end funds, among many other financial instruments.

Representative class and derivative matters include:

  • Defending a mutual fund advisor, investment company and others in a putative class action brought in state court, arising out of a $1.8 billion pandemic-driven decline in a fund’s net asset value.
  • Successfully dismissing a federal class action complaint against a publicly traded semiconductor company alleging misrepresentations regarding export control regulations and the company’s financial performance.
  • Winning an early-stage motion to dismiss a $700 million securities class action involving options on S&P 500 futures contracts (this matter also involved parallel regulatory investigations and derivative litigation).
  • Obtaining early, mediated resolution of a putative class action against a microelectronics corporation pertaining to DRAM technology.

Regulatory Investigations

Our securities litigators represent registered advisors, brokers, associated persons, issuers and others in regulatory investigations conducted by the U.S. Securities Exchange Commission, the Commodity Futures Trading Commission, and the Department of Justice. There is often substantial interplay between these government investigations and complex civil litigation, and our attorneys are accomplished at developing strategies to successfully address them.

Advising Financial Services Businesses

Apart from arbitration and litigation, LPGM’s securities attorneys routinely advise hedge funds, domestic and foreign money managers, investment advisors, institutional advisors, private equity managers, and commodity pool operators in matters involving registration, compensation, disclosure, soft dollars, marketing rules and other compliance requirements. We also draft and negotiate partnership, service and compensation agreements, and counsel hedge funds and other clients on multi-jurisdictional data protection and privacy issues.

Internal investigations

Our securities litigators are frequently retained by corporations, boards of directors and board committees to conduct internal investigations and reviews on their behalf. These sensitive investigations cover any number of topics, including alleged fraud, accounting issues, risk management, corporate policies and procedures and regulatory compliance.