Steven Smith has 30 years of experience in complex commercial litigation matters at trial and appellate levels. His practice focuses on business and commercial disputes in state and federal courts across the country, including class action cases and consolidated multidistrict proceedings.

Concentration: Complex Commercial Litigation, Class Action Litigation, Financial Institution Litigation, Securities Litigation, Accountants Liability, Insurance Coverage Litigation

Representative Experience

• Financial Institutions – Mr. Smith is Co-Leader of the firm’s Consumer Financial Services Litigation Team and has represented major financial institutions in a variety of cases, including investigations by regulatory authorities and litigation involving RESPA, TILA, HOEPA, state consumer protection statutes and common law predatory lending claims.
• Securities Litigation – Mr. Smith’s securities’ practice has involved defense of corporations and corporate directors and officers in securities fraud class actions (including cases before the Judicial Panel on Multidistrict Litigation) and shareholder derivative cases.
• Accountants’ Liability – Mr. Smith has significant experience in representing accounting firms, including Big 4 and other national firms, in securities fraud, malpractice and RICO.
• Insurance – Mr. Smith’s insurance practice includes a special emphasis on professional indemnity and coverage provided to directors and officers and accountants. He has litigated several coverage cases on behalf of large corporations and individual directors and officers.
• Art Law – Mr. Smith has represented collectors in a variety of litigation matters often involving recovery of stolen pieces of art.

Publications

Mr. Smith writes and speaks nationally on business litigation topics and has been quoted in such publications as The New York Times, The Wall Street Journal, The Financial Times, The Washington Post, The Los Angeles Times, USA Today, Business Insurance, The Atlanta Journal-Constitution, Corporate Legal Times, The Sydney Morning Herald, The Irish Times and Insurance Day.

• "What Are Insureds’ D&O Recision Rights?; Recent Cases Address Attempts to Rescind Coverage For Directors and Officers," Business Insurance, Feb. 21, 2005
• "The Sarbanes-Oxley Act: How will It Affect D&O Insurance Coverage?," published in Illinois Bar Journal, Vol. 91, March 2003
• "The Sarbanes-Oxley Act and the Changing Landscape of D&O Insurance Coverage," Ross & Hardies Corporate Governance Legal Update, October 2002

Speaking Engagements

• "Evaluating Current D&O Exposure to Subprime Risk," 14th Annual Director and Officer Liability Conference, May 13 & 14, 2008
• "Securities Class Action Damages After The Dura Pharmaceutical Decision," 12th Annual Director and Officer Liability Conference, May 23-24, 2006
• "I Want a Divorce! Current Battles Involving D&O Severability Issues," ABA 2006 Insurance Coverage Litigation Committee Meeting, Mar. 2-4, 2006
• "Shareholder Rights in Illinois," Illinois CPA Foundation, Litigation Support Conference, Nov. 2, 2004
• "How to Avoid Rescission of the Director & Officer Insurance Policy," American Conference Institute’s 9th Annual Director & Officer Liability Conference, Dec. 9, 2004
• "Director and Officer Insurance Following the Sarbanes-Oxley Act of 2002," Insurance Committee of the Chicago Bar Association, Dec. 4, 2002
• "Emerging Issues in Corporate Governance," Illinois Venture Capital Association, Oct. 8, 2002
• Corporate Governance, The Sarbanes-Oxley Act: 8 Months Later, Mar. 12, 2003
• Corporate Governance Following the Sarbanes-Oxley Act of 2002, Oct. 24, 2002

Professional Affiliations

• American Bar Association – Section on Litigation; Section on Business Law

• Professional Liability Underwriters Society (PLUS)

Civic Involvement and Distinctions

• University of Santa Clara – Editor, Law Review