Bryan Cave’s securities litigation, enforcement and compliance group handles all types of matters arising under the federal securities laws, including investigations by the Securities and Exchange Commission (“SEC”) and other regulatory agencies, class actions and other private civil lawsuits.  We also advise broker-dealers, public companies, investment funds and individuals on compliance matters.   We have experience as well in acting as special or independent counsel, representing Audit or Special Committees or as independent monitor.

The group includes lawyers who have held senior positions at the SEC, United States Attorneys’ Offices, and other government agencies, as well as other lawyers with years of experience advising on and litigating securities matters.  Our clients include corporations, officers and directors, broker-dealers, investment advisers, hedge funds, mutual funds, audit firms, registered persons and others involved in the capital markets.  Our team is located throughout the United States.

The group regularly represents clients in the following areas:

  • Investigations, enforcement proceedings and disciplinary actions by the SEC, U.S. Attorneys’ Offices, Financial Industry Regulatory Authority (“FINRA”) and state securities commissions.   We handle matters such as insider trading, revenue recognition, capitalizing vs. expensing, valuation of assets including derivatives and swaps, related party disclosures and violations of generally accepted accounting principles (“GAAP”).  Our matters also involve diverse aspects of broker-dealer regulation, including complex trading, valuation, manipulation, gifts and gratuities, suitability and supervision.  Our white collar lawyers join with us to handle securities related grand jury investigations and matters with potential criminal consequences.
  • Private securities litigation, including class and derivative actions, private equity and hedge fund litigation, institutional and high-net-worth customer arbitrations, and litigation over derivatives and structured financial products, mergers and acquisitions and corporate governance.  These cases include class actions under section 10(b) of the Securities Exchange Act of 1934 arising out of claims of public company financial misstatements, shareholder actions alleging breach of duty in connection with acquisitions of public companies, disputes between public companies against hedge funds, and disputes among financial firms as investors in subprime-related derivatives.
  • Compliance, including advice on regulatory audits, company policies and codes of ethics.  In all engagements, we bring to bear the experience gained in litigating and defending investigations to help our clients avoid regulatory problems.
  • Internal and independent investigations, directed by in-house counsel, audit committees, or other groups of independent directors, or by independent monitors or trustees, receivers or examiners.  For example, one of our partners was named as the independent monitor to examine financial transactions by AIG under an agreement resolving investigations by the SEC and Department of Justice.

Representative Matters

  • Represent municipal bond underwriter and broker in multiple class actions presently consolidated in MDL proceedings, alleging bid-rigging in the municipal derivatives markets.  (S.D.N.Y.) 
  • Represented broker-dealer in class action litigation alleging violations of federal and state securities laws resulting from the collapse of the ARS market. Compensatory damage claim in excess of $225 million.  Obtained dismissal.  (E.D. Mo.)
  • Represented broker-dealer in class action litigation claiming violations of federal and state securities laws resulting from the collapse of the ARS market; case dismissed.  (S.D.Ill.)
  • Represented broker-dealer in software license dispute involving compensatory damage claim of over $15 million.  Jury verdict of $4.1 million vacated on appeal; new trial scheduled.  (Jackson County, Mo. Cir. Ct., Mo. App., W.D. and Mo.)
  • Represented IRA trustees in AAA arbitration involving a $10 million claim to recover losses incurred by a self-directed IRA invested with Bernard Madoff.  Obtained summary judgment; pursuing recovery of fees and costs under the indemnification provisions of the IRA contract.
  • Represent financial services company, serving as IRA trustee, in a class action brought on behalf of IRA account holders who invested in an alleged $55 million Ponzi scheme operated by fraudulent fund manager.  (S.D.N.Y.)
  • Represent financial services company and various other entities in claims brought as a class action arising out of the multi-billion dollar Ponzi scheme operated by Bernard Madoff.  (D. Col.)
  • Defend brokerage firm against suitability and misrepresentation claims by five Wisconsin school districts related to alleged fraud in connection with $200 million investment in synthetic CDOs.  (Milwaukee County, Wis. Cir. Ct.)
  • Representing three officers and directors of a major retailer in a lawsuit challenging the company’s decision to acquire a privately-held company owned by Chairman.  (Delaware Ct. Ch.) 
  • Defended company and directors in class action challenging $575 million acquisition of public company by a private equity firm.  (Delaware Ct. Ch.)