Securities & Complex Commercial Litigation

Daniel S. Alter attorney profile image

New York, NY

C: (347) 880-6140
T: (212) 880-3636
Lionel André attorney profile image

Washington, DC

T: (202) 661-7039
F: (202) 661-7059

New York, NY

T: (212) 880-3583
F: (212) 880-3998
Christian R. Bartholomew attorney profile image

Washington, DC

C: (202) 669-3038
T: (202) 220-1940
F: (202) 661-7059
Eric A. Bensky attorney profile image

Washington, DC

C: (202) 819-4883
T: (202) 220-1937
Michelle N. Bradford attorney profile image

Washington, DC

C: (202) 339-7249
T: (202) 220-1935
F: (202) 661-7059
Daniel T. Brown attorney profile image

Washington, DC

T: (202) 661-7020
F: (202) 661-7059
Katherine Cooper attorney profile image

New York, NY

T: (212) 880-3630
F: (212) 825-9828
Elizabeth M. Del Cid attorney profile image

New York, NY

C: (646) 891-7905
T: (212) 880-3982
F: (212) 825-9828
James Dombach attorney profile image

Washington, DC

C: (202) 834-2080
T: (202) 661-7019
F: (202) 661-7059
Barry S. Gold attorney profile image

New York, NY

C: (347) 949-2054
T: (212) 880-3978
F: (212) 880-3998
James K. Goldfarb attorney profile image

New York, NY

C: (917) 697-7715
T: (212) 880-3961
F: (212) 880-3998
Christina M. Hill attorney profile image

Washington, DC

C: (202) 480-5278
T: (202) 661-7017
F: (202) 661-7059
Robert P. Howard, Jr. attorney profile image

Washington, DC

C: (202) 480-7326
T: (202) 661-7015
F: (202) 661-7059
Theodore A. Krebsbach attorney profile image

New York, NY

C: (347) 758-2295
T: (212) 880-3975
F: (212) 880-3998
Victor A. Machcinski, Jr. attorney profile image

New York, NY

C: (347) 899-0524
T: (212) 880-3977
F: (212) 825-9828
Alexandra J. Marinzel attorney profile image

Washington, DC

C: (202) 680-4902
T: (202) 661-7033
F: (202) 661-7059
Cameron S. Matheson attorney profile image

Richmond, VA

C: (804) 350-1771
T: (804) 762-5332
F: (804) 762-5361
Katherine M. McGrail attorney profile image

Richmond, VA

C: (347) 899-0434
T: (804) 762-5370
F: (804) 762-5366

New York, NY

Andrew J. Melnick attorney profile image

New York, NY

C: (203) 984-8256
T: (212) 880-3580
F: (212) 880-3998
Heather B. Middleton attorney profile image

New York, NY

C: (347) 899-0544
T: (212) 880-3980
F: (212) 825-9828
Sharon A. O'Shaughnessy attorney profile image

New York, NY

C: (917) 538-9223
T: (212) 880-3990
F: (212) 880-3998
Daniel M. Payne attorney profile image

Richmond, VA

C: (804) 350-1748
T: (804) 762-5335
F: (804) 762-5358
Timothy Peterson attorney profile image

Washington, DC

C: (571) 228-4592
T: (202) 661-7027
F: (202) 661-7059
Michael V. Rella attorney profile image

New York, NY

C: (914) 525-1916
T: (212) 880-3973
F: (212) 880-3998
Edward F. Sullivan attorney profile image

Richmond, VA

C: (804) 350-1808
T: (804) 762-5334
F: (804) 762-5357
Gaurav K. Talwar attorney profile image

New York, NY

C: (646) 522-2340
T: (212) 880-3992
For more information visit Our Team page.

Looking Forward

Scheme liability, class certification, concurrent jurisdiction, and loss causation are issues to watch in 2019. In Lorenzo, the Supreme Court could clarify who can be liable for making misstatements under Rule 10b-5(b), what conduct triggers scheme liability under Rules 10b-5(a) and (c), and where to draw the line between primary and secondary liability. In In re Goldman Sachs Group, the Second Circuit could refine recent rulings that have eased the way for plaintiffs to establish market efficiency to invoke the fraud on the market presumption of reliance at the class certification stage. After Cyan — in which the Supreme Court ruled that SLUSA did not end concurrent jurisdiction over Securities Act class actions — state courts have seen a spike in Securities Act filings (see table), a trend that might persist unless state court judges signal that they will honor the Reform Act’s procedural protections. Finally, the Supreme Court could take up First Solar, in which the Ninth Circuit held that loss causation is established if a stock-price drop is caused by misstatements or omissions of fact, even if the market is unaware of the fraud.