- Audit, Accounting & Financial Reporting
- FinTech & Blockchain
- Private Funds Advisory & Enforcement Defense
- Securities & Complex Commercial Litigation
- J.D. and LL.M., International and Comparative Law, Duke University School of Law, 1999
- M.Sc., International Relations, London School of Economics, 1997
- A.B., History, magna cum laude, Phi Beta Kappa, Washington University, 1992
- New York
- U.S. Court of Appeals, Second Circuit
- U.S. District Court, Eastern District of New York
- U.S. District Court, Southern District of New York
- U.S. Supreme Court
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.
Awards and Recognition
Law360 Securities Editorial Advisory Board
Law 360 | (02/25/2016)
California Client Alert: The Pandemic - Legal Defenses to Contractual Nonperformance Under California Law
The Post-Cyan Spike in State Securities Act Filings
Law 360 | (03/19/2019)
Tenth Circuit Extends SEC’s Geographic Reach. Just How Far Is Uncertain.
Absent New York-Connection, Court Lacks Personal Jurisdiction, Sinks ICO Consultancy Contract Claim
Blockchain Law Center | (01/02/2019)
Another Pre-Discovery Decision Declining to Hold that Tokens Are Not Securities
Blockchain Law Center | (12/28/2018)
How to Avoid Liability for Halo Statements
Securities Law360 | (07/20/2018)
Can The SEC Enforce Securities Laws Abroad?
Law 360 | (03/19/2018)
Revisiting Affiliated Ute: Will It Supersize Leidos?
Law 360 | (05/18/2017)
Will the Supreme Court Expand Silence as a Basis for Securities Fraud?
The CLS Blue Sky Blog | (04/04/2017)
SEC Settlements Spotlight Auditors Gone Wild
Law 360 | (10/07/2016)
Legal Antiperspirant for Audit Committee Members
New York Law Journal (Subscription Required) | (04/18/2016)
Campbell-Ewald And 'Prepaid Offers' In Securities Suits
Law 360 | (03/25/2016)
Some Insight Into SEC’s Focus On Accounting Misconduct
Law 360 | (03/15/2016)
The Reliance Element in U.S. and Canadian Securities Class Actions
American Bar Association | (09/09/2015)
Settling After Class Denial - If Only It Were That Easy
Law 360 | (09/17/2014)
The 'Affiliated Ute' Presumption of Reliance Is No Panacea
New York Law Journal (Subscription Required) | (05/30/2014)
Report on the Possible Impact of Halliburton II on Securities Class Action Litigation
New York City Bar | (05/28/2014)
FIRREA Threatens to Add to Government's Financial Crisis Arsenal
American Bar Association | (01/03/2014)
Clear Path to Pursuing Common Law Securities Claims Not 'Assured'
New York Law Journal (Subscription Required) | (01/13/2012)
Morrison’s Far-Reaching Consequences
Securities Litigation Journal | (December, 2011)
Commercial real estate CDO litigation: the credit crisis' next wave?
Jones Day | (April, 2009)
An Emerging Standard for 'Secondary Actor' Liability Under Federal Securities Laws
West, a Thomson business | (10/04/2006)
Ruling on a Trio of Securities Fraud Cases
The National Law Journal | (05/16/2005)
Circuit Court Forecloses Retroactive Application of SOXA’s New Statute of Limitations for Federal Securities Fraud Claims
Bloomberg BNA (Subscription Required) | (02/07/2005)
Seminars and Presentations
How To Defend Against New Wave of Cryptocurrency Class Actions
Murphy & McGonigle 2020 CLE Webinar: How to Defend Against New Wave of Cryptocurrency Class Actions
04/23/2020 | (04/20/2020)
Murphy & McGonigle 2019 CLE Breakfast Series: Private Securities Litigation & Securities Enforcement Actions
01/30/2019 | (01/15/2019)
FinTech Junction 2018
06/24/2018 | (06/24/2018)
Hot Topics in Securities Litigation & Enforcement – Omnicare, Halliburton III, Home Courts, and the Financial Reporting and Audit Task Force
04/06/2016 | (04/06/2016)
"Mortgage-Related Products," Understanding Financial Products 2016
01/28/2016 | (01/28/2016)
James Goldfarb spoke at 2nd Annual Western Regional CLE Program on Class Actions and Mass Torts
06/19/2015 | (06/19/2015)
Expert Testimony at Class Certification a Year After Halliburton
06/09/2015 | (06/09/2015)
What Hath It Wrought: Did the Financial Crisis Alter the Litigation & Enforcement Landscape
10/28/2014 | (10/28/2014)
Halliburton: Argument, Policy, and What Might Happen Next?
04/30/2014 | (04/30/2014)
Mortgage-Backed Securities Litigation: New Theories, New Defendants
01/07/2014 | (01/07/2014)
"RMBS Litigation," PLI's New Developments in Securitizations 2012
11/29/2012 - 11/30/2012 | (11/29/2012)
Mortgage-Backed Securities Litigation: Latest Developments: Pursuing and Defending Investors, Issuers, Underwriters and Other Stakeholders in MBS Claims
11/15/2012 | (11/15/2012)
Mortgage-Backed Securities Litigation: Latest Developments: Pursuing and Defending Investors, Issuers, Underwriters and Other Stakeholders in MBS Claims, January 5, 2012
01/05/2012 | (01/05/2012)
RMBS Litigation and Regulatory Enforcement: Defending against Emerging Investor and Shareholder Claims and Ensuring Compliance with a Changing Regulatory Scheme
04/08/2011 | (04/08/2011)
Mortgage-Backed Securities Litigation: Leveraging Latest Developments
CDO Litigation Reaching a Crucial Stage
06/10/2009 | (06/10/2009)
Scheme Liability under Federal Securities Law
11/16/2006 | (11/16/2006)
In the News
Justices’ Securities Docket Could Reflect Class-Action Focus
Securities Law Daily, Bloomberg BNA | (07/19/2017)
Securities Litigator James K. Goldfarb Joins Murphy & McGonigle in New York