James K. Goldfarb
C: (917) 697-7715
1185 Avenue of the Americas
New York, NY 10036
T: (212) 880-3961
F: (212) 880-3998
James Goldfarb defends corporations, financial institutions, accounting firms, and their executives in securities fraud and related litigation in state and federal court. His practice concentrates on claims brought under the 1933 and 1934 Acts, state blue sky laws, and the common law. In recent years, he has represented financial institutions in cases involving complex financial products, including CDOs, RMBS, and other asset-backed securities, as well as derivatives. Mr. Goldfarb also litigates complex business and bankruptcy matters, including lender liability, fiduciary duty and commercial contract disputes.
Before practicing law, Mr. Goldfarb worked for the federal government and Arthur Andersen.
1933 and 1934 Act Actions
- Defended the former CFO of a government-sponsored entity (GSE) in three putative class actions alleging violations of the 1934 Act in connection with the GSE’s financial disclosures. Obtained complete dismissals in two of the actions. Obtained a partial dismissal of the third action, then successfully opposed the plaintiff's motion for class certification. The action was settled for a fraction of the alleged damages.
- Defended an investment bank in multiple actions alleging violations of the 1934 Act, the blue sky law of a dozen states, and the common law in connection with the issuance of asset-backed securities. Obtained a partial dismissal of the blue sky law claims.
- Defended four investment banks in a putative class action alleging violations of the 1933 Act and 1934 Act in connection with underwriting of a pharmaceutical company's securities. Obtained the complete dismissal of the Rule 10b-5 claims and the voluntarily withdrawal of the 1933 Act claims.
- Defended a “final four” accounting firm in an action alleging violations of the 1934 Act in connection with a tax strategy that the firm had recommended to the plaintiff. Obtained the complete dismissal of the case.
- Defended a Fortune 10 energy company and its chief executive in a putative class action alleging violations of the 1934 Act in connection with disclosures about an impending merger.
- Defended an issuer of asset-backed securities in multiple actions alleging violations of the 1934 Act and common law. Obtained partial dismissal of the Rule 10b-5 and common law claims.
- Defended a pharmaceutical company in a putative class action alleging violations of the 1934 Act. After the company’s carrier entered receivership, presented the action to an arbitrator. The action was resolved at a fraction of the alleged damages.
Asset-Backed Securities Litigation
- Defending a mortgage originator in several “put-back” actions brought by monoline insurers and an RMBS trustee.
- Defended a collateral manager in a case brought by a CDO investor alleging common law and statutory (consumer protection) claims in connection with its CDO investment. Obtained dismissal of several common law claims and the consumer protection claims.
- Represented an investment bank in an interpleader action concerning the proper distribution of CDO proceeds
- Represented debtor-financial institution in adversary actions, mediations, and negotiations in connection with commodities, credit default, interest rate, and total return swaps.
Complex Commercial Litigation
- Defended a monoline insurer against fiduciary duty and lender-liability claims in connection with the bankruptcy of an entity that issued bonds that the monoline insurer had wrapped.
- Defended a “final four” accounting firm in cases alleging common law fraud, negligent misrepresentation, and professional malpractice in connection with tax strategies that the firm had recommended to the plaintiffs. Obtained partial dismissal of the common law claims.
- Defended a Fortune 100 telecommunications company in a breach of contract action in connection with an alleged guarantee, by the company, of its subsidiary’s obligations under a leasing arrangement. Obtained a complete dismissal.
- Editorial Board Member, 2016, Law360 Securities Editorial Advisory Board