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Handling a Securities Case 2014: From Investigation to Trial and Everything in Between


Speaker(s): Adam S. Hakki, Brad S. Karp, Claudius O. Sokenu, David A. Rosenfeld, David Daniels, Elaine M. Divelbliss, Felipe J. Arroyo, James H.R. Windels, James Mangan, Jessica Valenzuela Santamaria, John E Davis, John Rizio-Hamilton, Jonathan Gardner, Jonathan K. Youngwood, Jonathan R. Tuttle, Jordan Eth, Kenneth Kramer, Lyle Roberts, Marc De Leeuw, Martha S. Samuelson, Maureen Chakraborty, Paul C. Gluckow, Sandra J. Rampersaud, Sara Ricciardi, Stanley M. Grossman, Thomas McCormack, William C. Fredericks, William F. Johnson
Recorded on: Apr. 24, 2014
PLI Program #: 51393

David Daniels is a partner in the Washington office of Richards Kibbe & Orbe LLP. Mr. Daniels practices in the Litigation Group, where he focuses on disputes involving securities, derivatives and structured finance issues. Mr. Daniels has particular expertise in solving litigation problems faced by investment advisers and the funds they manage. He also represents clients in securities enforcement matters and in internal investigations. 

Mr. Daniels received his law degree in 1994 from the University of Chicago Law School and his undergraduate degree in 1989 from Princeton University.


Jordan Eth is co-chair of the firm’s Securities Litigation, Enforcement, and White-Collar Defense Group. He is one of the nation’s leading securities litigators, representing public companies and their officers and directors in securities class actions, SEC investigations, derivative suits, mergers and acquisitions litigation, and internal investigations. In 2008, Mr. Eth received a California Lawyer Attorney of the Year   Award for co-leading the successful defense of JDS Uniphase Corp. and its former executives in a securities class action jury trial seeking $20 billion in damages.

Mr. Eth has more than 30 years of experience handling complex and high- stakes litigation. He has represented dozens of companies and individuals in a broad range of industries, including financial services, computer software and hardware, life sciences, and consumer products.

Mr. Eth is recommended by multiple publications including Chambers USA: America’s Leading Lawyers for Business; Legal 500 US; The Best Lawyers in America and Benchmark Litigation. In 2010, he was selected by his peers as one of Law360’s 10 Most Admired Securities Attorneys. Clients have described him as “deeply knowledgeable and experienced and a natural leader without ego issues; he thinks strategically and is extremely responsive, realistic, and clear in his assessments of situations.” “Jordan understands the CEO mentality with respect to securities actions and navigates the corporate politics of these matters with the same expertise with which he handles the legal case; Jordan is true to his pitch that he will handle the case in a cost-efficient manner.”

Mr. Eth received his B.A. in Economics from Swarthmore College, with highest honors and Phi Beta Kappa, and his J.D. from Stanford University, Order of the Coif. At Stanford, he was Co-President of the Moot Court Board.

Mr. Eth served as a law clerk to the Honorable Chief Judge Robert F. Peckham, U.S. District Court for the Northern District of California, from August 1985 through August 1986. From 1980 through 1982, he worked as an economist in Washington, D.C., first for the United States Department of Energy and then for the Budget Committee of the United States House of Representatives.

EDUCATION

Swarthmore College (B.A., 1980)

Stanford Law School (J.D., 1985)

RANKINGS

Chambers USA 2007–2015
Recognized as a Leading Securities Litigation Lawyer

The Legal 500 US 2008–2015

Recognized in the area of Securities: Shareholder Litigation

The Best Lawyers in America 2008–2016
Recognized for Bet-the-Company Litigation, Commercial Litigation and Securities Litigation


Lyle Roberts is a partner in the Securities Litigation practice group and a member of the Litigation department. He joined the Firm in 2012 and is a resident of the Washington, DC office.

Mr. Roberts' practice focuses in the areas of securities litigation and regulation. He defends public corporations and individuals in class actions, derivative cases, mergers and acquisitions litigation, and Securities and Exchange Commission ("SEC") enforcement actions. He also conducts corporate internal investigations and counsels clients with respect to securities regulatory issues.

Mr. Roberts' recent representations include the successful defense of Mark Cuban (owner of the Dallas Mavericks) in an SEC insider trading case. In a widely publicized trial victory, Mr. Cuban was found not liable on all claims. Mr. Roberts also represents a number of prominent companies – including CenturyLink, Lumber Liquidators, and Lender Processing Services – in the defense of private securities litigation. His notable past representations include appellate victories in the PEC Solutions, Cree, and Frontier Insurance securities class actions, leading to the complete dismissal of the claims in those cases.

Mr. Roberts is a writer and lecturer on securities litigation topics and is often quoted in the media. He is the author of The 10b-5 Daily, a blog devoted to news and analysis related to securities class actions. Mr. Roberts also is co-chairman of the annual Practicing Law Institute securities litigation program. He frequently submits amicus briefs in securities litigation cases on behalf of clients, including recent briefs in the U.S. Supreme Court on behalf of the Washington Legal Foundation in the Halliburton case and SIMFA and the Chamber of Commerce of the United States of America in the Matrixx case. Mr. Roberts has been named a Washington, DC Super Lawyer for 2013 and 2014.

Prior to joining Cooley, Mr. Roberts was a partner at Dewey & LeBoeuf. He also led the East Coast securities litigation practice of Wilson Sonsini Goodrich & Rosati during his tenure with that firm.

Mr. Roberts received his JD from the University of Chicago Law School, where he was on the Law Review. Following law school, he was a judicial clerk for Judge Donald S. Russell, U.S. Court of Appeals for the Fourth Circuit.

Representative Matters:

  • City of St. Clair Shores General Employees' Retirement System v. Lender Processing Services, Inc., 2012 WL 1080953 (M.D.Fla. March 30, 2012). District court dismissed securities class action complaint against the nation's leading supplier of mortgage processing services.
  • Securities and Exchange Commission v. Mark Cuban, 634 F.Supp.2d 713 (N.D. Tex. 2009). In a landmark ruling, district court invalidated an SEC rule and dismissed the insider trading claims against Mr. Cuban.
  • Winn v. Schafer, 499 F.Supp.2d 390 (S.D.N.Y. 2007). District court dismissed derivative complaint filed against Scottish Re and its directors based on application of U.K./Cayman Islands law.
  • In re Cree, Inc. Sec. Litig., 2005 WL 1847004 (M.D.N.C Aug. 2, 2005), aff'd 477 F.3d 162 (4th Cir. 2007). Appellate court affirmed dismissal of securities class action complaint against Cree and certain of its officers, with important rulings on the issues of corporate fraudulent intent and loss causation.
  • In re PEC Solutions Sec. Litig., 2004 WL 1854202 (E.D. Va. May 25, 2004), aff'd 418 F.3d 379 (4th Cir. 2005). Appellate court affirmed dismissal of securities class action complaint against PEC Solutions and certain of its officers and established new law on the pleading of fraudulent intent.
  • Kahler v. Tularik, No. CIV 438544 (Cal. Sup. Ct. Aug. 19, 2004). State court dismissed merger litigation.
  • Ezra Charitable Trust v. Frontier Ins. Group, Inc., 2002 WL 87723 (S.D.N.Y. January 23, 2002), aff'd 318 F.3d 148 (2nd Cir. 2003). Appellate court affirmed dismissal of securities class action complaint against Frontier and certain of its officers based on statute of limitations.
  • Graff v. Prime Retail, Inc., 172 F. Supp. 2d 721 (D. Md. 2001), aff'd 46 Fed. Appx. 140 (4th Cir. 2002). Appellate court affirmed dismissal of securities action complaint against Prime Retail and certain of its officers.

Selected Activities

  • Co-Chairman, Handling a Securities Case: From Investigation to Trial and Everything In Between, Practicing Law Institute, New York (2009 to present)
  • Moderator, "Supreme Court's Morrison v. National Bank and ‘Foreign Cubed' Securities Fraud Actions," Practicing Law Institute (July 2010)
  • Moderator, "Stoneridge: Is there 'Scheme' Liability or Not?" Practicing Law Institute (January 2008)
  • Moderator, "Tellabs v. Makor: Pleading Scienter in Securities Fraud Cases," Practicing Law Institute (July 2007)
  • Moderator, "Dabit and the Application of the Securities Litigation Uniform Standards Act," Practicing Law Institute (April 2006)
  • Moderator, "Pleading Scienter in Securities Fraud Cases: What Investors, Companies, and Their Counsel Need to Know," Practicing Law Institute (January 2005)
  • Moderator, "Pleading Loss Causation in Securities Fraud Cases: What Investors, Companies, and Their Counsel Need to Know," Practicing Law Institute (June 2004)
  • Advisory Board, Securities Reform Act Litigation Reporter
  • Adjunct Professor, George Mason University School of Law (2003-2005)
  • Judicial Clerk, The Honorable Donald S. Russell, Circuit Judge, U.S. Court of Appeals for the Fourth Circuit (1996-1997)

Publications

  • "Behind the SEC's Pursuit of Mark Cuban," Wall Street Journal (November 18, 2013)
  • "Understanding the New SEC Whistleblower Program," PLI's Handling a Securities Case 2013: From Investigation to Trial and Everything in Between, Course Handbook No. B- 2021 (April 2013)
  • "When is a Fraud 'In Connection With' a Securities Transaction under SLUSA?" PLI's Handling a Securities Case 2013: From Investigation to Trial and Everything in Between, Course Handbook No. B-2021 (April 2013)
  • "The Mutual Fund 'Loophole:' Why Fund Investors Are Having a Difficult Time Maintaining Securities Class Actions," PLI's Securities Litigation & Enforcement Institute 2011, Course Handbook No. B-1904 (September-October 2011)
  • "Pleading in the Dark: The Use (And Potential Abuse) of Confidential Witness Statements in Federal Securities Fraud Complaints," PLI's Securities Litigation & Enforcement Institute 2009, Course Handbook No. B-1762 (September-October 2009)
  • "Is the PSLRA's Safe Harbor Becoming a Safe Puddle?," PLI's Securities Litigation & Enforcement Institute 2008, Course Handbook No. B-1692 (September-October 2008) (co-author)
  • "The Selection of Lead Plaintiff and Lead Counsel in Securities Class Actions," Class Action Watch (October 2008)
  • "The Officer and the Janitor: 'Collective Scienter' in Securities Fraud Cases," The New York Law Journal (Feb. 8, 2008) (co-author)
  • "End the Dual Approach," National Law Journal, Vol. 27 (October 24, 2005)
  • "Lower Courts Will Determine Impact of Supreme Court's Securities Fraud Suit Ruling," Legal Backgrounder, Vol. 20, No. 22, Washington Legal Foundation (May 20, 2005) (co- author)
  • "Pleading Loss Causation in Securities Fraud Cases: What Investors, Companies, and Their Counsel Need to Know," PLI's Securities Litigation & Enforcement Institute 2004, Course Handbook No. B-1442 (September-October 2004) (co-author)
  • "Individual Trading Plans Can Help Defend Securities Fraud Claims," Compliance Week (July 7, 2004) (co-author)

Speeches and Programs

  • Speaker, "The SEC and Securities Class Action Suits: Defining the Relationship Between the Commission and the Plaintiffs' Bar," WLF Web Seminar Series (July 29, 2008)
  • Panelist, "What You Need To Know for 2008: Securities Litigation," Audio Webcast, Riskmetrics Group (January 2008)

Education

  • University of Chicago Law School JD, 1996
  • Johns Hopkins University
    MA • Paul H. Nitze School of Advanced International Studies (SAIS), 1993
  • Johns Hopkins University BA, 1993

Court Admissions

  • Supreme Court of the United States
  • U.S. Court of Appeals, District of Columbia Circuit
  • U.S. Court of Appeals, Eighth Circuit
  • U.S. Court of Appeals, Fifth Circuit
  • U.S. Court of Appeals, Fourth Circuit
  • U.S. District Court, District of Colorado
  • U.S. District Court, District of Columbia
  • U.S. District Court, District of Maryland
  • U.S. District Court, Eastern District of Virginia
  • U.S. District Court, Western District of Virginia

Bar Admissions

  • District of Columbia
  • Maryland
  • Virginia


Marc De Leeuw joined Sullivan & Cromwell LLP in 1994 and has been a partner since 2001. His litigation practice includes representing clients in a variety of areas, including on securities, intellectual property, antitrust, real estate, contract, insurance and many other commercial matters.

Marc has represented clients before arbitration tribunals, New York and New Jersey state trial and appellate courts, numerous federal district courts and Courts of Appeals and the U.S. Supreme Court. He has participated in trials and arbitration hearings in a variety of cases.

Among the securities matters he has handled include:
 

  • Represents BP in multiple securities, shareholder derivative and ERISA actions arising out of the Gulf of Mexico oil spill, including in obtaining dismissal of the federal shareholder derivative action on the ground of forum non conveniens.
  • Represents Barclays in nationwide Enron litigation, including a securities class action and related proceedings and obtaining reversal of the district court's decision to certify a class of Enron shareholders to pursue securities claims against Barclays and others seeking $40 billion in damages.
  • Represents various mutual funds and their directors in investigations and civil actions concerning board decisions and fund practices.
  • Represented Cablevision in shareholder derivative and class actions concerning options "backdating" and "going private" offers.

Marc serves on the Board of Directors of MFY Legal Services, has represented a host of pro bono clients, and has been a speaker at conferences involving securities, investment company and patent litigation.


Adam Hakki is a partner of the law firm Shearman & Sterling LLP and is Global Head of the Firm’s Litigation Group.  Adam is also global co-head of the Securities Litigation and Enforcement Practice.  He acts as lead counsel on complex litigation and government investigations, with particular emphasis on class actions, shareholder derivative suits and civil and criminal investigations relating to securities, antitrust, derivatives, commodities and corporative governance issues in courts throughout the US and before the DOJ, SEC, CFTC, FINRA and State AGs.

Adam’s practice focuses on major financial institutions and investment management firms in many of the most significant and high-profile securities litigation and government and regulatory enforcement matters affecting those industries in recent years. Adam is also a frequent counselor to companies and boards of directors on corporate crises, governance and ethics.

Adam has been recognized for many years by Chambers USA , Legal 500 and Benchmark Litigation as one of the leading securities litigators in the United States.

Adam authored the chapter on damages in Litigating Securities Class Actions (Eisenberg, J., editor, LEXIS/NEXIS publisher), a comprehensive treatise on defending securities class actions whose contributing authors are recognized leaders in the field of securities litigation. He has also co-authored numerous publications on securities regulation, enforcement and litigation, including the lead chapter on handling parallel regulatory investigations and securities litigations             for the Practising Law Institute’s book “Handling a Securities Case: From Investigation to Trial and Everything in Between.” Adam is also a frequent lecturer and panel participant on insider trading, SEC and government investigations, and litigation and compliance matters, for SIFMA, PLI, ALI and other leading groups.

Adam received his J.D. from St. John’s School of Law, magna cum laude, where he was Executive Articles Editor of the Law Review.


Brad S. Karp is Chairman of Paul, Weiss, Rifkind, Wharton & Garrison LLP, and has served in that role since 2008. Brad is one of the country’s leading litigators and corporate advisers, with extensive experience successfully defending financial institutions and other companies in “bet the company” litigations and regulatory matters. Prior to being named chair of Paul, Weiss, Brad chaired the firm’s Litigation Department.

Brad has been profiled as one of the leading lawyers in the United States by The Wall Street Journal, The New York Times, The Financial Times, The American Lawyer, Chambers, The Lawyer (U.K.), Crain’s, The National Law Journal, The New York Law Journal, Lawdragon, Best Lawyers in America, The Legal 500, Euromoney Institutional Investors, Best of the Best USA, Law360, and Benchmark/Institutional Investor.

For the past several years, Brad has been named one of the Most Influential People in the Boardroom by the National Association of Corporate Directors and in 2014 Crain’s named Brad one of the Most Influential New Yorkers. In 2011, Lawdragon named Brad its “Lawyer of the Year.” For the past several years, Chambers has selected Brad as the only “Star” in its Nationwide Securities Litigation category. Best Lawyers named Brad its 2014 “Banking and Finance Litigator of the Year,” and its 2012 “Securities Litigator of the Year.” In 2012, The Financial Times selected Brad as one of the 10 most innovative lawyers in the United States. In 2013, Benchmark Litigation/Euromoney selected Brad its “Litigator of the Year.” In 2013, the New York Law Journal awarded Brad its first-ever Impact Award, in recognition of Brad’s “significant and lasting impact on the legal community in New York.”

Brad has lectured on business litigation, securities litigation and corporate governance at Harvard Law School, Columbia Law School and NYU Law School. Brad is active in the community, serving as a director/trustee of the Legal Action Center, the Riverdale Country School, Mount Sinai Hospital, The Partnership for New York City, the Harvard Law School Leadership Council, the Executive Committee of the New York City Bar Association, the American Constitution Society, Practicing Attorneys for Law Students Program, Inc., the Leadership Council on Legal Diversity, American Friends of Hebrew University, the New York Bar Foundation, the Program Advisory Board of the Brennan Center for Justice, the Best Lawyers Advisory Board, the Economic Club of New York, the Federal Bar Council Second Circuit Inn of Court, the Union College President’s Council, and the United States Supreme Court Historical Society. Brad also is a founding member of the PriceWaterhouse Leaders Council examining financial services industry regulatory reform, and a member of The New York City Bar Association Task Force on New Lawyers in a Changing Profession.

Brad graduated with honors from Harvard Law School in 1984, and has spent his entire professional career at Paul, Weiss.


David A. Rosenfeld is a partner at Robbins Geller Rudman & Dowd LLP in the firm’s Melville, NY and Manhattan offices. Mr. Rosenfeld has focused his practice of law for more than a decade in the areas of securities litigation and corporate takeover litigation. He has been appointed as lead counsel in dozens of securities fraud lawsuits and has successfully recovered hundreds of millions of dollars for defrauded shareholders.

Mr. Rosenfeld, serving as lead counsel, recently secured a settlement of $70 million in the securities class action on behalf of investors in Credit Suisse Group and was also appointed as lead counsel in the securities fraud lawsuit against First BanCorp, which provided shareholders with a $74.25 million recovery. He served as lead counsel in In re Aramark Corporation Shareholders Litigation, which resulted in a $222 million increase in consideration paid to shareholders of Aramark and a dramatic reduction to management’s voting power in connection with shareholder approval of the going-private transaction (reduced from 37% to 3.5%).

Since 2011, Mr. Rosenfeld has been named by Super Lawyers Magazine as a “Rising Star” in Securities Litigation.

Mr. Rosenfeld is actively prosecuting many cases involving widespread financial fraud, including lawsuits on behalf of victims of Bernard L. Madoff, as well as litigation concerning collateralized debt obligations and credit default swaps.

Mr. Rosenfeld often advises and lectures the Firm’s institutional investor clients on securities litigation and has been responsible for numerous significant rulings in their appointment as lead plaintiffs.

Mr. Rosenfeld regularly practices in federal and state courts throughout the United States and is admitted to practice in the state of New York, the Southern, Eastern and Western Districts of New York, the District of Colorado, the Eastern and Western Districts of Arkansas, the Eastern District of Wisconsin, and the First, Second and Third  Circuit Courts of Appeal.

Mr. Rosenfeld earned his Bachelor of Science degree in Accounting from Yeshiva University’s Sy Syms School of Business and his Juris Doctor degree from the Benjamin N. Cardozo School of Law.


Education: J.D., Harvard Law School; M.S., management, MIT Sloan School of Management; B.A., English, Yale University

Summary of Experience:

Ms. Samuelson is an expert in antitrust, finance, and valuation, combining more than 25 years of applying economic and financial analysis to complex legal disputes with five years of experience as a practicing trial attorney. A key aspect of Ms. Samuelson’s work is the direction of economic analyses for large-scale litigations. She has managed economic analyses related to antitrust issues in numerous government, competitor, and consumer matters on behalf of MasterCard and a major semiconductor manufacturer, and in several Microsoft competitor and indirect purchaser cases. Additionally, she has provided analysis on issues of class certification, antitrust liability, and antitrust damages in a broad set of technology- and financial services–related cases, and has worked with experts in market research and surveys to understand purchase behavior and determine apportionment of damages. Ms. Samuelson also has overseen economic analyses in major litigations related to the financial crisis, focusing on valuation and the issue of foreseeability pertaining to insolvency, to housing price declines, and to the performance of securitized mortgage assets, working with experts in securities and derivative instruments, valuation, statistical and econometric analysis, financial modeling, and damages assessments. In addition, she has sponsored successful testimony on a range of economic topics in both bench and jury trials, and has served as an expert in many phases of litigation, including development of economic and financial models; preparation of testimony; development, presentation, and review of pretrial discovery; and critique of economic and financial analyses of opposing experts.

A frequent speaker on topics in antitrust and competition, the role of economics in litigation, and leadership, Ms. Samuelson has presented at the American Bar Association’s Antitrust Section Annual Spring Meeting and New York State Bar Association programs, and at leading academic institutions including the Yale School of Management, the University of Chicago Law School, and the MIT Sloan School of Management, as well as participating in multiple legal and economic conferences and seminars. Ms. Samuelson has moderated a panel at the Federal Trade Commission and Department of Justice joint public workshop on most-favored nation clauses, and coauthored an article on the program, "From Economic Theory to Real-World Transactions: Highlights from the FTC/DOJ’s Recent Workshop on Most-Favored-Nation Clauses," published in the ABA Antitrust Section Joint Conduct Committee’s newsletter. She is an adjunct member of the New York State Bar Association Antitrust and Trade Regulation Committee and is included in the International Who’s Who of Competition Lawyers and Economists and Euromoney’s Guide to the World’s Leading Competition and Antitrust Lawyers/Economists. Ms. Samuelson currently sits on the board of directors for Boston Medical Center.


Felipe J. Arroyo is a partner at Robbins Arroyo LLP and concentrates his practice on shareholder rights litigation. He has over twenty years of experience litigating complex actions on behalf of clients. Mr. Arroyo has helped secure results for shareholders and companies in high-profile shareholder derivative suits and securities class actions. Mr. Arroyo has represented shareholders in a variety of industries, including insurance, finance, banking, technology, and pharmaceuticals. He has successfully litigated derivative cases against top executives of publicly traded companies who participated in a range of misconduct, including stock option backdating, the global subprime meltdown, misappropriation, insider trading, and various types of false or misleading statements. Litigation teams led by Mr. Arroyo have recovered hundreds of millions of dollars for companies and shareholders, including some of the largest monetary recoveries in the history of shareholder derivative litigation.

Prior to joining Robbins Arroyo LLP in 2006, Mr. Arroyo practiced complex commercial litigation for over a decade with a top tier international law firm headquartered in Los Angeles, where he represented a diverse client base of Fortune 500 companies. He also served as general counsel to a fitness company for two years, successfully prosecuting a global patent infringement litigation campaign, and litigated complex commercial and securities fraud cases as an associate at the Washington DC office of a global New York-based law firm.

A leader in the securities litigation community, Mr. Arroyo is Co-Chair of the Class Actions & Derivatives Suits Subcommittee for the American Bar Association's Section of Litigation and previously served as a member of the Board of Governors at the Association of Business Trial Lawyers in San Diego (2012-2014). He frequently speaks on shareholder litigation and corporate governance topics to investor and legal communities. Mr. Arroyo was named a Super Lawyer and recognized on their Top 50 listing in 2017 for attaining a high-degree of peer recognition and professional achievement.

Mr. Arroyo earned his Juris Doctor from Yale Law School in 1992 and his Bachelor’s in Economics from the University of California, Los Angeles. He is licensed to practice law in California and the District of Columbia.


James H.R. Windels is a member of Davis Polk & Wardwell’s Litigation Department.  He has experience in a wide variety of federal and state court commercial litigation matters, regulatory enforcement proceedings and internal investigations.

Mr. Windels’ matters include securities cases relating to public offerings and underwritings, sales and trading, asset management, mutual funds, private equity transactions and accounting matters.  He has represented companies and accounting firms in internal investigations, bidders and targets in mergers and acquisitions litigation, and financial institutions and manufacturers in federal and state antitrust actions.  He has also represented financial institutions and accounting firms in investigations and proceedings before the Securities and Exchange Commission, the Federal Reserve Bank, the Commodity Futures Trading Commission, the New York Stock Exchange, federal and state criminal authorities, and local regulators in Europe and Asia.

Mr. Windels joined Davis Polk in 1990 and became partner in 1997.  He clerked for the Honorable Peter K. Leisure, U.S. District Court, Southern District of New York, from 1989 to 1990.  He is Chair of the Board of Directors of Brooklyn Legal Services Corporation A and President of the Board of Directors of Volunteers of Legal Services.  In the past he served as Chair of the Committee on Pro Bono and Legal Services and Chair of the Legal Services Awards Committee of the Association of the Bar of the City of New York, and as co-chair of Davis Polk’s Pro Bono Committee.


Jonathan Gardner's practice focuses on prosecuting complex securities fraud cases on behalf of institutional investors. An experienced litigator, he has played an integral role in securing some of the largest class action recoveries against corporate offenders since the onset of the global financial crisis.

Jonathan has led the Firm's representation of investors in many recent high-profile cases including Rubin v. MF Global Ltd., et al., which involved allegations of material misstatements and omissions in a Registration Statement and Prospectus issued in connection with MF Global's IPO in 2007. In November 2011, the case resulted in a recovery of $90 million for investors. Jonathan also represented lead plaintiff City of Edinburgh Council as Administering Authority of the Lothian Pension Fund in In re Lehman Brothers Equity/Debt Securities Litigation, which resulted in settlements exceeding $600 million against Lehman Brothers' former officers and directors, Lehman's former public accounting firm as well the banks that underwrote Lehman Brothers' offerings. In representing lead plaintiff Massachusetts Bricklayers and Masons Trust Funds in an action against Deutsche Bank, Jonathan secured a $32.5 million recovery for a class of investors injured by the Bank's conduct in connection with certain residential mortgage-backed securities.

Most recently, Jonathan was the lead attorney in several matters that resulted in significant recoveries for injured class members, including: In re Hewlett-Packard Company Securities Litigation, resulting in a $57 million recovery; In re Carter's Inc. Securities Litigation, resulting in a $23.3 million recovery against Carter's and certain of its officers as well as PricewaterhouseCoopers, its auditing firm; In re Lender Processing Services Inc., involving claims of fraudulent mortgage processing which resulted in a $13.1 million recovery; In re Aeropostale Inc. Securities Litigation, resulting in a $15 million recovery; and In re K-12, Inc. Securities Litigation, resulting in a $6.75 million recovery.

Jonathan has also been responsible for prosecuting several of the Firm's options backdating cases, including In re Monster Worldwide, Inc. Securities Litigation ($47.5 million settlement); In re SafeNet, Inc. Securities Litigation ($25 million settlement); In re Semtech Securities Litigation ($20 million settlement); and In re MRV Communications, Inc. Securities Litigation ($10 million settlement). He also was instrumental in In re Mercury Interactive Corp. Securities Litigation, which settled for $117.5 million, one of the largest settlements or judgments in a securities fraud litigation based on options backdating. Jonathan also represented the Successor Liquidating Trustee of Lipper Convertibles, a convertible bond hedge fund, in actions against the fund's former independent auditor and a member of the fund's general partner as well as numerous former limited partners who received excess distributions. He successfully recovered over $5.2 million for the Successor Liquidating Trustee from the limited partners and $29.9 million from the former auditor.

Practice Areas

Securities Litigation

Corporate Governance & Shareholder Rights Litigation

Derivative Litigation

Education

St. John's University Law School J.D., 1990

American University B.S., B.A., 1987
Order of Omega

Admissions

1991, New York

U.S. Court of Appeals
2010, Second Circuit
2011, Third Circuit
2008, Ninth Circuit
2012, Eleventh Circuit

U.S. District Court
1991, Southern District of New York
1991, Eastern District of New York
2009, Eastern District of Wisconsin
2011, Northern District of Florida


Maureen M. Chakraborty
Managing Principal

Education

Ph.D., economics, University of Notre Dame; B.A., economics, Colby College

Summary of Experience

Dr. Chakraborty is an economist with an extensive background in finance, accounting, and valuation. She has been retained as both an expert witness and a consultant in a number of matters involving structured finance transactions, securities litigation, and solvency. She recently managed all aspects of financial and economic analysis supporting experts on the solvency and portfolio strategy of a failed hedge fund. Dr. Chakraborty has also applied her expertise to a number of issues related to structured finance, accounting fraud, and solvency in various Enron-related litigations. She has consulted on matters involving the reinstatement of debt, the evaluation of the likelihood of default, merger and acquisitions, and claims of successor liability brought by creditors of a failed entity. Her work has involved the valuation of fixed income assets, structured finance products, and companies in the financial services, telecommunication, energy, transportation, and pharmaceutical industries. She has performed consulting work in matters before the Department of Justice, and has testified both in state court and before FINRA arbitration panels in matters involving damages and corporate raiding.


Paul Gluckow is a Partner in Simpson Thacher’s Litigation Department. His practice focuses on securities litigation—including class and derivative actions, disputes in connection with mergers and acquisitions, and government and internal investigations—as well as antitrust litigation, defense of law firms in legal malpractice and related matters, and other complex commercial litigation matters.  He is recognized by The Legal 500 in Securities: Shareholder Litigation, Financial Services Litigation, Commercial Litigation, and M&A Litigation, where clients have described him as “very responsive and client-friendly.” He is also recognized by Euromoney’s Benchmark Litigation.

Paul regularly represents financial institutions, corporations, and individuals in high-profile securities and shareholder litigations, and other related matters, including government and internal investigations. He also has substantial experience in litigation arising out of corporate acquisitions and other transactions. Paul is active in antitrust and competition matters, litigating on behalf of both plaintiffs and defendants, including cases alleging monopolization, price-fixing, and other restraints of trade.

Paul is an editor of the Firm’s Securities Law Alert, a monthly newsletter that reports on developments in securities litigation and related areas.

Paul is very active in pro bono. Among other things, since 2007 he has supervised the Firm’s work with co-counsel The Legal Aid Society in the Immigration Removal Defense Project, through which the Firm and Legal Aid have represented numerous clients in removal/deportation cases in Immigration Court.

Paul joined Simpson Thacher in 1996. He received his J.D. summa cum laude from Seton Hall University School of Law in 1994, where he was also Editor-in-Chief of the Seton Hall Law Review. He received his M. Phil. with highest distinction in 1992 from the University of Glasgow and his B.A., magna cum laude, from the University of Notre Dame in 1988. In 1994–95, Paul served as a law clerk to the Hon. William G. Bassler of the U.S. District Court for the District of New Jersey, and in 1995–1996 he clerked for the Hon. Samuel A. Alito, Jr., of the U.S. Court of Appeals for the Third Circuit.


Sandra Rampersaud is an attorney in Cravath’s Litigation Department, with expertise all aspects of e-discovery, digital investigations and evidence, and data privacy, including cross-border e-discovery and disclosure, and European Union data protection.  Her practice focuses on monitoring the rapidly developing legal standards for conducting e-discovery and ensuring that the Firm delivers the most cost-effective and legally defensible methods of handling such discovery, both domestically and globally, for its clients.  Ms. Rampersaud’s practice also requires her to understand advances in information technology and the legal implications of its use.  She works closely with our clients and case teams in matters involving complex records preservation and collection issues, and devising cost-effective and defensible review strategies.  Ms. Rampersaud has spoken on e-discovery issues at a number of presentations.

Ms. Rampersaud was born in London, United Kingdom.  She received a B.A. summa cum laude from the University of Massachusetts in 1992 and a J.D. magna cum laude from Brooklyn Law School in 2003, where she was a Notes and Comments Editor of the Law Review and a member of the Moot Court Honor Society.  Ms. Rampersaud joined Cravath in 2011.  Prior to joining Cravath, Ms. Rampersaud was associated with a law firm in New York, where her practice focused on antitrust, commodities, securities and energy litigation.  In 2003, Ms. Rampersaud served a one-year clerkship with Hon. Joan M. Azrack of the U.S. District Court for the Eastern District of New York.  She is admitted to practice before the state courts of New York and Connecticut and, on the Federal level, before the U.S. Court of Appeals for the Second Circuit, the U.S. Court of Appeals for the Third Circuit, the U.S. District Court for the Eastern District of New York, the U.S. District Court for the Southern District of New York and the U.S. District Court for the Northern District of New York. 

Ms. Rampersaud is a member of the Sedona Conference Working Group Series on Electronic Document Retention and Production and actively participates on drafting subcommittees for its publications.  She recently spoke at the Sedona Conference “All Voices” meeting where she discussed the recently published Sedona Conference Principles of Information Governance and on a panel entitled “Evolving Nature of Defense of Process” at the Georgetown Law Advanced eDiscovery Institute.  Ms. Rampersaud is a member of the committee and Education subcommittee for the Seventh Circuit Electronic Discovery Pilot Program and is a member of the Executive Committee of the New York State Bar Association Commercial and Federal Litigation Section, where she serves as Co-Chair of its Committee on Electronic Discovery.  Ms. Rampersaud also served as a member of the Antitrust and Trade Regulation Committee of the New York City Bar Association from 2008 to 2010, and as a member of the New York County Lawyers’ Association, Denis McInerney American Inns of Court from 2004 to 2012 where she was a team leader from 2006 to 2010.

Ms. Rampersaud may be reached by phone at 212-474-3772 or by email at sjrampersaud@cravath.com.


Sara Ricciardi is counsel in the firm’s Litigation Group. She has represented financial institutions, corporate officers and directors, and other clients in a wide range of high-profile, complex commercial litigation matters, with a focus on securities class actions, shareholder derivative litigation and corporate control disputes, as well as investigations by the Department of Justice, the Securities and Exchange Commission, and the Financial Industry Regulatory Authority.

Experience

  • Representation of entities and individuals associated with largest "feeder fund" into Bernard L. Madoff Investment Securities in federal and state court proceedings arising out of the Madoff Ponzi scheme.
  • Representation of credit rating agency in multiple international arbitrations and foreign litigations.
  • Representation of numerous private equity firms in shareholder derivative lawsuits, class actions, and regulatory inquiries in connection with corporate transactions, including the acquisitions of HCA and Laureate Education, Inc.
  • Representation of major homebuilding company and its senior officers in securities litigation arising out of the collapse of the U.S. real estate market.
  • Representation of underwriters of a global offering of Royal Ahold N.V. shares in a lawsuit involving a restatement of earnings totaling $24.8 billion.
  • Representation of Italian and Spanish power companies in litigation arising out of $30+ billion tender offers for Endesa, S.A.
  • Representation of broker-dealers in connection with SEC and FINRA investigations.
  • Representation of the Board of Directors of major retailer in shareholder derivative lawsuits.
  • Representation of former officer and director of French corporation in connection with U.S. regulatory inquiries and French criminal trial.
  • Representation of senior executive of domestic transportation company in DOJ antitrust investigation.
  • Representation of New York City in multi-million dollar personal injury action.

Education

New York University School of Law, J.D., 2002
Moot Court Board

Yale University, B.A., 1999, magna cum laude, Phi Beta Kappa

Bar Admissions/Qualifications

New York

Courts

United States District Court for the Southern District of New York
United States District Court for the Eastern District of New York

Languages

Spanish, Italian, French

Professional Affiliations and Business Activities

  • American Bar Association
  • The Association of the Bar of the City of New York


Stanley M. Grossman is Senior Counsel to Pomerantz Haudek Grossman & Gross LLP. He has been with the Firm since February 1969, and was a partner from January 1, 1975 to December 31, 2008.

He is widely considered a dean of the plaintiffs’ securities bar and was featured in the New York Law Journal "Top Litigators in Securities Field -- A Who's Who of City's Leading Courtroom Combatants" and has repeatedly been named by the New York Times as one of the New York Super Lawyers and by Law Dragon Magazine as a Leading Plaintiff Lawyer in America.

Mr. Grossman has argued groundbreaking cases throughout his career. He appeared before the United States Supreme Court to argue that scheme liability is actionable under Section 10(b) of the Securities Exchange Act of 1934. See StoneRidge Investment Partners v. Scientific-Atlanta, 552 U.S. 148 (2008). In EBCI v. Goldman Sachs & Co., 5 N.Y.3d 11 (2005), he obtained a decision from the New York State Court of Appeals, holding for the first time that underwriters may have a fiduciary duty to issuing companies in an IPO.

In addition to his appellate work, Mr. Grossman has tried important securities cases upholding shareholder rights. Gartenberg v. Merrill Lynch Asset Management was the first case ever to be tried involving Section 36(b) of the Investment Company Act of 1940: In Rauch v. Bilzerian (Super. Ct., NJ), he pursued claims versus directors for a breach of duty to preferred shareholders. In Grumman, etc., he headed a six week trial involving ERISA and securities law claims and in Lewis v. Rockwell, he tried one of the few derivative stockholder cases to go to trial.

He has lectured to the profession on various occasions under the auspices of the Southern Federal Securities Institute, Columbia University School of Law, Duke University Law School, University of Arizona Law School, Brooklyn Law School, Willamette School of Law, ALI-ABA, the New York State Bar Association, and the Association of the Bar of the City of New York.

Mr. Grossman is a nationally respected authority on the subject of corporate governance. He served on former New York State Comptroller Carl McCall’s Advisory Committee for the NYSE Task Force on corporate governance. He is a regular advisor to Congress on legislation to protect investors and is a former president of NASCAT. During his tenure at NASCAT, he represented the organization in meeting with the Chairman of the Securities and Exchange Commission and before members of Congress and of the Executive Branch concerning legislation that became the PSLRA.

Mr. Grossman served for three years on the New York City Bar Association’s Committee on Ethics, as well as on the Association’s Judiciary Committee. He is also actively involved in civic affairs. He headed a task force on behalf of the Association, which after a wide-ranging investigation, made recommendations for the future of the City University of New York. He currently serves on the New York Advisory Council of the Appleseed Foundation, a national public advocate group.


Claudius Sokenu, a former federal regulator with the Securities and Exchange Commission, is a partner in the firm’s Litigation Group where his practice focuses on representing financial institutions, public and private companies, accounting firms, and their Boards of Directors, Audit Committees, directors, officers, and employees in securities  enforcement actions and litigations, white collar criminal defense, derivative actions, internal investigations and crisis management, congressional investigations, and complex commercial litigations in state and federal courts. Claudius has extensive experience in handling delicate high-profile matters that require concurrent representation in the civil,  criminal,  and political spheres.

Earlier in his career, Claudius served in the Washington, DC office of the SEC’s Enforcement Division, on the Honors Program, first as a Staff Attorney and later as Senior Counsel, where he was responsible for handling a  broad range of domestic and international enforcement matters, including investigations involving accounting fraud, insider trading, initial public offerings, illicit payments under the FCPA, investment companies and investment advisers, market manipulation, and broker-dealer misconduct. He was also a member of the Enforcement Division’s  FCPA Working Group, which is now known as the FCPA Unit.

Consistently ranked by Chambers USA and Chambers Global for his investigative, regulatory, and securities enforcement practice, named a Litigation Star by Benchmark Litigation (2015), named a rising star by Ethisphere in its national annual rankings of “Attorneys Who Matter” (2012), named a “Top Lawyer” by The Network Journal (2011), recognized by Securities Law 360 as one of its 10 under 40 (2007), and named by Main Justice as one of the Best FCPA Lawyers Outside the Beltway (2011), Claudius has represented major companies and/or their officers and directors, including Allianz SE, Bank of New York, CIBC World Markets, GlaxoSmithKline, Bank of America, Ernst & Young Global, Avon Products, CVS Caremark, Arthur Andersen LLP, Amgen, Walmart, Bristol-Myers Squibb, Kraft Foods, Embraer, Cardinal Health, and TV Azteca before prosecutors and regulators in the United States and abroad and in federal and state courts on bet- the-farm matters.

Claudius Sokenu, a former federal regulator with the Securities and Exchange Commission, is a partner in the firm’s Litigation Group where his practice focuses on representing financial institutions, public and private companies, accounting firms, and their Boards of Directors, Audit Committees, directors, officers, and employees in securities  enforcement actions and litigations, white collar criminal defense, derivative actions, internal investigations and crisis management, congressional investigations, and complex commercial litigations in state and federal courts. Claudius has extensive experience in handling delicate high-profile matters that require concurrent representation in the civil,  criminal,  and political spheres.

Earlier in his career, Claudius served in the Washington, DC office of the SEC’s Enforcement Division, on the Honors Program, first as a Staff Attorney and later as Senior Counsel, where he was responsible for handling a  broad range of domestic and international enforcement matters, including investigations involving accounting fraud, insider trading, initial public offerings, illicit payments under the FCPA, investment companies and investment advisers, market manipulation, and broker-dealer misconduct. He was also a member of the Enforcement Division’s  FCPA Working Group, which is now known as the FCPA Unit.

Consistently ranked by Chambers USA and Chambers Global for his investigative, regulatory, and securities enforcement practice, named a Litigation Star by Benchmark Litigation (2015), named a rising star by Ethisphere in its national annual rankings of “Attorneys Who Matter” (2012), named a “Top Lawyer” by The Network Journal (2011), recognized by Securities Law 360 as one of its 10 under 40 (2007), and named by Main Justice as one of the Best FCPA Lawyers Outside the Beltway (2011), Claudius has represented major companies and/or their officers and directors, including Allianz SE, Bank of New York, CIBC World Markets, GlaxoSmithKline, Bank of America, Ernst & Young Global, Avon Products, CVS Caremark, Arthur Andersen LLP, Amgen, Walmart, Bristol-Myers Squibb, Kraft Foods, Embraer, Cardinal Health, and TV Azteca before prosecutors and regulators in the United States and abroad and in federal and state courts on bet- the-farm matters.

Bar Admissions

New York

District  of Columbia

Education

Georgetown University Law Center, LLM in Securities  and Financial Regulation

London School of Economics  and King’s College London, University of London, LLM in Commercial  and Corporate Law

South Bank University, London, LLB, Upper Class  Honors


ELAINE M. DIVELBLISS is Director and Senior Counsel for Sprint Nextel Corporation and works out of offices in Warren, NJ and New York City. As a member of the Government Affairs department, Ms. Divelbliss provides advice on a broad range of state and federal regulatory matters. Her responsibilities include providing legal counsel and regulatory advice to the Assurance Wireless brand, through which Sprint affiliate Virgin Mobile USA provides Lifeline service. Ms. Divelbliss joined Sprint in November 2009, in connection with the merger of Sprint and Virgin Mobile. Prior to joining Virgin Mobile in September 2008, Ms. Divelbliss practiced in the Litigation department of Simpson Thacher & Bartlett LLP in New York City. Ms. Divelbliss received both her undergraduate degree and juris doctorate from the University of Pennsylvania.


Jessica Valenzuela Santamaria is a partner at Cooley LLP and is resident in the Firm's Palo Alto office. Ms. Valenzuela Santamaria's practice focuses on securities, corporate governance and other complex business litigation, including the defense of securities class actions, derivative suits and M&A-related class actions. In addition to representing clients in state and federal courts, Ms. Valenzuela Santamaria also represents companies, boards and special committees in government and internal investigations and counsels public and private companies and their directors and officers about a wide range of issues relating to corporate governance, insider trading, disclosure obligations and litigation risk and strategy. Ms. Valenzuela Santamaria has also litigated commercial disputes in international and domestic arbitrations. Ms. Valenzuela Santamaria's clients have included companies and individuals in the hardware, software, semiconductor, biotechnology, pharmaceutical, finance, internet and digital-media industries. Ms. Valenzuela Santamaria also serves on the Firm's Diversity and Hiring Committees.


Jonathan Tuttle is a partner in Debevoise & Plimpton LLP’s Washington, D.C. office and a member of the firm’s Litigation Department.  He regularly represents public companies, boards of directors, audit and special committees of boards and individual directors, officers and employees in enforcement investigations and proceedings brought by the Securities and Exchange Commission, the Department of Justice, FINRA, and the PCAOB as well as in securities class actions, shareholder derivative suits, internal corporate investigations, and a variety of other securities and finance related litigation and regulatory matters.  Mr. Tuttle has significant experience investigating accounting issues and advising companies, boards and audit committees with respect to the many complicated issues that can arise in such investigations, including disclosure and reporting of accounting restatements, responding to whistleblower complaints, and interactions with independent auditors.  He received his J.D. cum laude from Harvard Law School in 1992.  Mr. Tuttle is admitted to practice in Washington, D.C., Virginia and the United States District Courts for the District of Columbia and the Eastern District of Virginia.


Jonathan Youngwood is Co-Chair of the Firm’s Litigation Department and a member of the Executive Committee. He is also Co-Administrative Partner of the Firm. For more than 20 years, Jon has represented financial institutions, corporations, executives and boards of directors in a wide  range of high-profile litigations, arbitrations and regulatory investigations. His practice focuses on  matters involving securities, antitrust and ERISA law as well as M&A litigation.

Chambers and Partners consistently recognizes Jon as a leading securities litigator, describing him as a “very well-respected lawyer with a tremendous reputation, and is very good in the courtroom”; “the best lawyer on his feet - he is incredibly comfortable before judges and panels”; a “smart, focused and creative lawyer who brings the required intensity to the job.” Chambers also recognizes him as “a detail-oriented litigator with the ability to get to the nub of an issue” who “has extensive securities knowledge” and “flair for written work and oral advocacy.” He is recognized as a “Leading Lawyer” by The Legal 500, where market commentators describe him as “very talented”; who has a “client-oriented approach”; “technically superb, bright and articulate”; an “outstanding securities litigator”; and “smart, hardworking and extremely professional.” He is also recognized by Euromoney’s Benchmark Litigation, where sources have described him as “one of the smartest lawyers I know. He not only is hardworking, but he has the ability to be both a big-picture thinker and also pay incredible attention to detail.”

He edits the Securities Law Alert, a monthly newsletter published by the Firm, is the Co-Chair of PLI’s annual program entitled “Handling a Securities Case: From Investigation to Trial and Everything in Between,” and received the Burton Award for Achievement in Legal Writing.

Among a number of significant pro bono achievements, Jon served on the Simpson Thacher team that achieved a finding (after a seven-month trial) that the New York City public schools fail to provide a constitutionally adequate education.

Jon received his B.A. with honors from Brown University in 1990. He received his J.D. in 1994 with honors from the University of Chicago, where he served as Comments Editor of The University of Chicago Law Review. He also holds a Master of Public Policy from The University of Chicago (1992). Jon joined Simpson Thacher in 1995 following a one-year clerkship with Hon. Dennis G. Jacobs of United States Court of Appeals for the Second Circuit. He became a partner in 2003.


Tom McCormack currently is the Domestic & Canadian Head of D&O Claims for AIG Claims, Inc., including National and Commercial/Middle Market Accounts as well as Private and Non-Profit Accounts. Tom has had two stints at AIG/Chartis and has been with the company for a total of 15 years. Before becoming The Domestic Head of D&O Claims, he was Vice President for Commercial/Middle Market and Private/Non-Profit Accounts for Central U.S. Tom was also previously a Complex Claims Director in the Accident Group, D&O National Group and the Financial Institutions Group. Prior to arriving at AIG, Tom spent 10 years at Home Insurance Company, most recently as the Manager of the E&O Large Claims Group as well as all claims reported to the Company’s Reinsurers. Tom was responsible for handling large exposure Legal, Accounting, Real Estate and Insurance Agents malpractice claims as well as Police Department claims throughout the United States. Tom has also spent time as a litigator at a NY Defense Firm responsible for handling defense of both Legal and Accounting Malpractice lawsuits against those professionals. Tom received a JD from St. John’s University in 1985. Prior to entering Law School, Tom spent five years as an accountant at Texaco, Inc., most recently as the Assistant Chief Accountant for the Budget and Statistical Group for all of Texaco’s worldwide enterprises. Tom graduated with a B.S. in Accounting from St. John’s University in 1978.


WILLIAM C. FREDERICKS is a partner in the New York office of Scott + Scott LLP. He began his legal career as a law clerk for the Hon. Robert S. Gawthrop III of the U.S. District Court for the Eastern District of Pennsylvania, and then spent seven years practicing securities and complex commercial litigation as an associate at Simpson Thacher & Bartlett and Willkie Farr & Gallagher before moving to the plaintiffs’ side of the bar in 1997 where he was a partner at Milberg LLP and then at Bernstein Litowitz Berger & Grossmann LLP. Mr. Fredericks has represented investors as a lead or co-lead counsel in dozens of securities class actions, including In re Wachovia Preferred Securities and Bond/Notes Litig. (S.D.N.Y.) (total settlements of $627 million, reflecting the largest recovery ever in a pure Securities Act case that did not involve any parallel government fraud claims); In re Rite Aid Securities Litig. (E.D. Pa.) (total settlements of $323 million, including the then-second largest securities fraud settlement ever against a Big Four accounting firm); In re Sears Roebuck & Co. Securities Litig. (N.D. Ill.) ($215 million settlement, reflecting the largest section 10(b) recovery in history in an action not involving either a financial restatement or parallel government fraud claims ); In re State Street ERISA Litig. ($89 million settlement, one of the largest ERISA class action settlements to date) and Irvine v. Imclone Systems, Inc. (S.D.N.Y.) ($75 million settlement). He has also obtained significant recoveries on behalf of creditor interests, including recoveries against News Corp. on behalf of the receiver in bankruptcy of Australis Holdings Pty. Limited, and recoveries on behalf of the Friedman’s Creditor’s Trust against certain former outside attorneys, auditors and financial advisers of Friedman’s, Inc. Mr. Fredericks also played a lead role on the appellate team that obtained a rare 9-0 decision for plaintiffs (and remand to the district court) in a securities fraud case from the United States Supreme Court in Merck & Co., Inc. v. Reynolds, 130 S.Ct. 1784 (2010). Mr. Fredericks also has extensive experience litigating various MBS-related actions against MBS issuers, sponsors, underwriters and trustees, including the ongoing litigation in Retirement Board v. Bank of New York Mellon, No. 1:11-cv-05459 (S.D.N.Y.) against the trustee of various Countrywide-sponsored MBS trusts based on the trustee’s alleged failure to take timely and appropriate actions to enforce the trusts’ repurchase rights).

Mr. Fredericks graduated from Columbia University School of Law in 1988, where he was awarded the Toppan Prize in Advanced Constitutional Law, the Beck Prize in Property Law, the Greenbaum Prize for Legal Writing, and the Gov. Thomas E. Dewey Prize for best oral argument in the final round of Columbia’s 1988 Harlan Fiske Stone Moot Court Honor Competition. He earned his B.S., with High Honors, from Swarthmore College, and also holds an M. Litt. degree in international relations from Oxford University.

Mr. Fredericks has been a panelist on numerous programs sponsored by various organizations, including the Practising Law Institute (PLI) and the American Law Institute/American Bar Association (ALI/ABA). He is a member of the Association of the Bar of the City of New York (former chairman, Committee on Military Affairs and Justice), The American Bar Association, and The Federal Bar Council. He is admitted to the bar of the State of New York and to the bars of the United States Supreme Court, the U.S. Courts of Appeal for the Second, Third, Sixth and Tenth Circuits, and the U.S. District Courts for the Southern and Eastern Districts of New York.