A&O Shearman‘s securities litigation practice has a strong record in acting for the world’s largest underwriting banks, and has further broadened its client base to include big-name public companies, notably in the technology sector. The work of San Francisco-based partner Daniel LaGuardia for Uber Technologies in a securities class action arising from its 2019 IPO is a prime example. The practice is led from New York but standout litigator Adam Hakki and global litigation practice group Richard Schwed . Hakki is widely acknowledged as a leading practitioner in this area, and his victory for Paramount Global in a securities class action litigation arising from the historic collapse of Archegos Capital Management is a standout case from the past year. Also in New York, Daniel Lewis and up-and-coming partner Agnès Dunogué are highly visible in the market, as is regulatory enforcement and securities litigation specialist Lyle Roberts  in Washington DC. Houston-based Mallory Brennan and Samuel Cooper, and former federal prosecutor Patrick Hein in San Francisco also plays a key role in securities fraud cases. Patrick Robbins left the firm in 2023 to join the DOJ.

New York-based Cravath, Swaine & Moore LLP is led by co-head of the litigation department Kevin Orsini, whose track record of involvement in market-leading cases continues. He won a complete summary judgment victory for generic drug manufacturer Viatris Inc. concerning the marketing, pricing and classification of EpiPen, as well as alleged conduct concerning generic drug price fixing and market allocation. He is also working with well-regarded securities litigators Daniel Slifkin and Antony Ryan to defend Robinhood Markets, Inc. in the sprawling ‘meme stock’ litigation, which concerns the company’s decision to temporarily place limits on trading in GameStop and other securities in the face of unprecedented market volatility in 2021. They have, so far, secured the dismissal of two of the three tranches of litigation against the company. Karin DeMasi worked closely with emerging partner talent Lauren Rosenberg to secure back-to-back dismissals of class actions against First Solar, Inc. Among the firm’s other up-and-coming partners are Wes Earnhardt, who is involved in a notable matter concerning the Disney+ streaming service, and Lauren Moskowitz, who is widely recognised as a tenacious litigator.

The securities litigation and SEC enforcement teams at Gibson, Dunn & Crutcher LLP are highly regarded by both peers and clients, having built up an enviable track record of success in securities class actions, shareholder derivative litigation, and parallel SEC and DOJ investigations and enforcement actions. The firm handles high-profile cases for large corporate issuers in state and federal courts across the country including recent matters in California, Delaware, New York, Texas, and its partner group spans the country from East to West Coast. Brian Lutz in San Francisco co-chairs the practice with Monica Loseman in Denver and Craig Varnen in Los Angeles. Lutz continues to act for Meta Platforms, formerly Facebook, in securities class action and shareholder derivative litigation arising from the misuse of user data by Cambridge Analytica, and Facebook’s $5bn resolution of allegations by the Federal Trade Commission that the company violated a consent decree.

Kirkland & Ellis LLP is known for its ‘tough and aggressive' approach to litigation, and clients note the firm’s ‘deep subject matter expertise'. The firm is particularly active for clients in the private equity and alternative asset management sector, but its work also reflects companies from a broad range of industries, including retail, aviation and aeronautics, pharmaceuticals, energy, hospitality, and technology. Sandra Goldstein in New York and Mark Filip in Chicago are standout partners. Goldstein acted for 3G in class and derivative actions concerning Kraft Heinz and its $15.4bn writedown of assets, as well the disclosure of an SEC investigation. The main hub of the practice is In New York, where up-and-coming partner Stefan Atkinson, who has played key role in the firm’s work on SPAC-related cases, and Matthew Solum stand out. Atkinson led the defense of a class action against Instructure. Joshua Rabinovitz and James Gillespie are the principal practitioners in Washington DC.

The securities litigation and professional liability group at Latham & Watkins LLP spans the country and maintains a high profile in high-stakes matters in many state and federal courts. Since 2022, the firm has represented clients as defendants in more federal securities class actions than any other US law firm, across 24 district courts. Andrew Clubok in Washington DC, New York-based Blair Connelly, and Colleen Smith in San Diego lead the practice. Clubok is the  most active in securities litigation, and his recent work includes securing the dismissal of claims against Meta Platforms in the largest securities class actions ever filed, which involved a stock drop of nearly a quarter trillion dollars. Matthew Rawlinson in Silicon Valley is one of a few attorneys in California to have litigated a securities claim to a final jury verdict, while Michele Johnson in Orange County excels in both securities litigation and merger-related cases. She recently worked with Clubok to defend Twitter in a high-value case. In New York, Jeff Hammel and emerging talent Jason Hegt are standout partners.

Paul, Weiss, Rifkind, Wharton & Garrison LLP has a deep bench of securities litigators in New York that is ‘without peer‘. Susanna Buergel, Andrew Ehrlich and Audra Soloway are the practice co-chairs. Ehrlich’s highlights include a landmark victory for The Blackstone Group and Blackstone Alternative Asset Management in a $50bn derivative action. Firm chair Brad Karp, who also played a key role in that matter, is one of several standout partners having built a track record of success for prominent clients, among them JPMorgan Chase and Nikola Corporation. Highly regarded Daniel Kramer has a ‘well-established reputation for both ethical and intellectual integrity‘. He recently worked with Soloway to defend Amazon in a class action filed by shareholders. Geoffrey Chepiga is sought after for both securities litigation and M&A-related cases, and Gregory Laufer is a key advisor to Goldman Sachs.

Simpson Thacher & Bartlett LLP‘s litigators have ‘deep experience in all aspects of securities and shareholder litigation.‘ The firm’s stellar corporate and financial institution client base puts it very much at the epicentre of high-stakes securities cases. New York partners Jonathan Youngwood and Lynn Neuner lead the group. Youngwood recently defended ProAssurance in a securities class action arising from alleged misrepresentations and omissions concerning the company’s loss reserves for physician-staffing company TeamHealth. Senior counsel Janet Gochman also had a major role in that case. Bryan Jin in Palo Alto is a key adviser to Chinese companies. He worked with Blake and Youngwood to defend Alibaba Group in a notable securities class action. Up-and-coming partners Stephen Blake in Palo Alto and Craig Waldman in New York play increasingly prominent roles in the group’s key matters. New York-based Peter Kazanoff is also highly regarded by peers and clients.

New York powerhouse Skadden, Arps, Slate, Meagher & Flom LLP retains a suceessful record, able to handle the full range of work, including internal investigations, derivative actions and investigations by regulatory agencies, the firm handles high-stakes matters in a diverse range of industries from energy to automotive. Standout partners Jay Kasner and co-deputy heads Scott Musoff and Susan Saltzstein are all acknowledged by peers to be leading lights in the securities litigation market. Kasner and Saltzstein are currently acting for Hawaiian Electric Industries, Inc. in a class action arising from the wildfires in Lahaina in Maui County, Hawaii, in 2023. Kasner was involved in a high-profile matter in the cryptocurrency sector, having secured the dismissal of a huge claim against Coinbase Inc. The firm also has a deep bench of securities litigators outside New York, with Noelle Reed in Houston and Virginia Milstead in Los Angeles among the key names.

WilmerHale has a proven track record in both SEC and DOJ enforcement matters, as well as securities fraud class actions, and it continues to uphold its streak of successes. Stephanie Avakian in Washington DC is chair of the securities and financial services department, while the lead partners for securities litigation and enforcement are Michael Bongiorno in New York and DC-based Matthew Martens. Bongiorno secured a motion to dismiss for North America’s largest producer of advanced biofuels, Renewable Energy Group, Inc., in a case concerning its 2021 multiyear restatement. Susan Muck in San Francisco also played a pivotal role in that matter. The ‘smart and client service-oriented‘ Kevin Muck, also in San Francisco is frequently called up on to defend issuers, officers and directors in securities class actions, particularly in the technology sector. Up-and-coming partner Timothy Perla in Boston increasingly takes the lead role in high-stakes matters.

Cooley LLP is active in the defense of shareholder and securities litigation, particularly for clients in the technology and life sciences sectors. Palo Alto-based practice head Patrick Gibbs is a ‘very effective strategist‘, and his representation of leading AI computing company NVIDIA in a long-running class action arising from a $25bn loss in its market capitalization is typical of the firm’s high-profile work. John Dwyer, also based in Palo Alto, also played a key role in that matter, as did New York-based Sarah Lightdale, who is praised for her ‘practical, efficient and thoughtful approach’. A standout practitioner is Koji Fukumura in San Diego, who successfully represented Silverback Therapeutics in a class action alleging the company misled investors about the efficacy of a cancer drug candidate. Luke Cadigan in Boston, Aric Wu in New York and LA-based Michael Tu also play pivotal roles in the practice.

Clients praise Debevoise & Plimpton LLP in New York for ‘willing to go the extra mile'. Acting for major corporations in high-stakes securities litigation in federal and state courts around the country, the firm frequently handles stock-drop class actions, derivative actions alleging breaches of fiduciary duty, and related federal and state regulatory investigations. The practice is led by experienced partners Maeve O’Connor in New York and Jonathan Tuttle in Washington DC, who is also involved in cutting-edge areas of litigation, notably cases concerning cryptocurrency assets. Mary Jo White and Andrew Ceresney are acting for Ripple Labs in a putative class action concerning the marketing and sale of the virtual currency XRP. O’Connor and  emerging partner talent Elliot Greenfield are currently acting for cloud infrastructure and digital workspace technology company VMWare in a class action and a derivative action, which faces allegations of breaching fiduciary duties, insider trading, and unjust enrichment. Another up-and-coming partner is Susan Reagan Gittes, who frequently acts for insurance companies.

Dechert LLP's trial, investigations and securities practice has a large group of experienced partners across the US, whose work encompasses securities class actions, shareholder derivative suits, mutual fund litigation, broker-dealer disputes, internal investigations and regulatory proceedings. Joni Jacobsen leads the practice and works out of both the Chicago and New York offices, as does key partner David Kistenbroker. Their work together includes acting for Exelon Corporation to negotiate a $40m settlement in a case alleging bribery, breach of fiduciary duty, and other misconduct. They also secured the dismissal of a class action against Antares Pharma. Michael Doluisio in Philadelphia is highly recommended as an adviser to the mutual fund sector. Angela Liu in Chicago frequently works alongside Jacobsen and Kistebroker, while New York-based Andrew Levander is a key contact for regulatory investigations. Corporate governance litigation partner Richard Horvath and securities and antitrust partner Josh Hess are the key names in San Francisco. Linda Goldstein left to become senior counsel for US litigation at the Center for Reproductive Rights.

The New York office of Freshfields Bruckhaus Deringer LLP continues to make big strides in the securities litigation arena, having built a high-calibre practice around highly regarded practice heads Meredith Kotler and Mary Eaton. They work in tandem with Boris Feldman, who also leads the firm’s global TMT practice, and up-and-coming partner Doru Gavril, both based in Silicon Valley. The practice, which continues to expand at associate level, now acts for known numerous global companies in high-stakes securities and shareholder matters, as well as regulatory investigations. A prime example is the work Feldman and Gavril are doing for Google’s parent company, Alphabet, in multiple matters including its first securities class action. Kotler’s work for 3M is equally impressive- she obtained a string of victories in cases arising from the company’s alleged failure to adequately reserve for and disclose billions of dollars of potential liability for environmental, mass tort, and other claims.

Goodwin has a prominent role in high-stakes cases in key industry sectors such as life sciences and biotechnology, though it also handles significant matters involving REITS and large technology companies. The firm is also increasingly involved in representing financial institutions and fintech companies. Boston-based Deborah Birnbach leads the securities litigation and SEC enforcement department within the complex litigation practice along with Daniel Roeser and Douglas Flaum in New York, Caroline Bullerjahn in Boston, and San Francisco-based Jonathan Shapiro. Bullerjahn is currently representing Chardan Capital Markets LLC, which served as underwriter for SPAC Trident Acquisition Corp in matters arising from its de-SPAC transaction with Autolotto. Roeser, whose track record includes high-profile mortgage-backed securities cases and some of the largest securities class actions in history, is currently acting for residential mortgage REIT Two Harbors Investment Corp. in a case seeking hundreds of millions of dollars in damages. Clients praise ‘the firm’s commitment to go the extra mile‘.

The securities litigation and SEC enforcement practice at Jones Day is ‘extremely knowledgeable'. From offices across the US, the firm defends clients in securities and shareholder litigation, and in SEC enforcement matters. Henry Klehm in New York leads the group, and he is involved in a high-profile 10b5 case for the former CEO of mining company Rio Tinto. ‘Phenomenal attorney and litigator‘ John Tang in San Francisco comes highly recommended. He recently worked with Mike McConnell in Atlanta to assist former members of the Audit Committee of View, Inc. with a securities class action. Walter Davis is another key contact in Atlanta, and he brings to hear his three years’ experience as the first judge of Georgia’s state-wide Business Court. Cleveland-based Geoffrey Ritts, whose track record includes numerous cases concerning mortgage-backed securities and a multi-district litigation arising from the Bernie Madoff scandal, continues to play a prominent role in high-stakes cases.

King & Spalding LLP has a broad securities and shareholder litigation practice, with experienced practitioners across the US, though it is particularly dominant in the Southeast and Southwest. Atlanta-based Jessica Corley leads the firm’s trial and global disputes practice. Int the same office, Warren Pope and Michael Smith are the key securities litigators. Mark Kirsch, who is highly regarded for his successes in SEC-related matters and cases involving mortgage-backed securities, is a key name in New York, as are skilled trial lawyers Randy Mastro and Richard Marooney. Kirsch recently affirmed the dismissal of a class action against Rio Tinto, which was accused of defrauding investors following the $4bn impairment of a coal mining project in Mozambique. Paul Bessette in Austin is notable, while the firm also has a strong team in Miami, where Brian Miller is the main contact. New York-based Christopher Duffy joined the firm from Vinson & Elkins LLP in June 2024.

Milbank‘s New York office is home to some of the most experienced securities litigators in the market, including the vastly experienced Sean Murphy, a specialist in private securities cases. Global head of litigation and arbitration George Canellos and practice group leader Alexander Lees oversee the securities litigation group, which has been involved in key areas of the market, notably SPAC-related cases. One example is the work of firm chair Scott Edelman and emerging partner talent Jed Schwartz for virtual behavioral healthcare company Talkspace in a case concerning its de-SPAC transaction. David Gelfand and Robert Hora also play key roles in the practice, and they continue to act for Rabobank in class action litigation. Edelman and key partner Grant Mainland are handling a high-profile case for former Goldman Sachs president Gary Cohn in a complex matter concerning the issuance of bonds by Malaysian sovereign wealth fund 1MDB.

Morgan, Lewis & Bockius LLP has a strong group of securities litigators who work closely together with the firm’s enforcement and regulatory partners to handle high-stakes matters for clients in key industries, including technology and life sciences. The firm is also a key adviser to many of the world’s major broker-dealers, investment managers, and registered and unregistered funds. The practice is led by Timothy Burke in Boston, while Philadelphia-based partners Jeff Boujoukos and Kelly Gibson are of note, as is Charlene Shimada in San Francisco, Michael Kichline in Philadelphia, and Jordan Hershman in Boston. Shimada led the defense of an underwriting syndicate including J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC in a case arising from Bloom Energy’s $270m IPO in 2018. Kichline’s work for underwriters includes In re Zymergen Inc. Securities Litigation, which concerns alleged misstatements and omissions in the $500m IPO of Zymergen Inc.

Wachtell, Lipton, Rosen & Katz in New York has a strong client roster that includes some of the largest US and international corporations, with a key example being the firm’s work for Amazon in a derivative suit alleging fiduciary breaches in connection with alleged antitrust violations. William Savitt, who is co-chair of the litigation practice and is focused predominantly on M&A and corporate governance disputes, as well as securities cases, led that case along with key partner Anitha Reddy. Savitt co-leads the practice with Jonathan Moses, who is known for his expertise in complex commercial, securities and antitrust litigation. Notably, the scope of the practice’s work is international, as shown by the work of Carrie Reilly and Cynthia Fernandez-Lumermann for Arcnonic Group in a case relating to the fire at Grenfell Tower in London.

The securities litigators at Weil, Gotshal & Manges LLP in New York ‘anticipate problems and produce excellent work‘, handling ecurities, derivative, breach of fiduciary duty and M&A litigation, as well as internal investigations and regulatory enforcement actions for some of the largest corporations in the US. John Neuwirth and Caroline Zalka lead the practice and are ‘dependable, expert, and a pleasure to work with‘. Neuwirth and up-and-coming partner Joshua Amsel are key counsel to AMC Entertainment in a high-value matter. Jonathan Polkes, who is a key adviser to Morgan Stanley,  Stacy Nettleton, who has forged a strong reputation in matters concerning the Covid pandemic and the #MeToo movement, and emerging talent Evert Christensen also play pivotal roles in the practice. Regulatory enforcement specialist Robert Stern in Washington DC is ‘insightful, tenacious and a great advocate’. He is currently acting for RBC Capital Markets in a case seeking to recoup underwriter fees paid to investment banks that underwrote Puerto Rico’s general obligation debt.

Based in Washington DC, Williams & Connolly LLP provides ‘experience-based advice and detailed analysis‘. The firm draws heavily on its lawyers’ reputations as trial and appellate advocates to represent major US corporates in high-stakes securities cases. Steven Farina, Amanda MacDonald and Robert Van Kirk lead the practice. MacDonald and Farina are currently representing Medtronic in a notable securities litigation class action. Veteran partner Van Kirk is currently acting for The Carlyle Group in a high-profile matter. Emerging partner talent John Williams played a pivotal role in that case. He is highly regarded and clients praise his ‘exceptional communication skills and practice‘. Michael Mestitz, who worked with MacDonald on a class action claim against pharmaceutical giant Pfizer, is another name to note.

Willkie Farr & Gallagher LLP has a strong track record in securities litigation, having achieved notable victories in both securities fraud class actions and derivative litigation, as well as having a strong regulatory enforcement practice. The firm is particularly strong in busted IPO cases, though it handles a broad spectrum of work for both major financial institutions and large corporates. Litigation chair Tariq Mundiya and co-chairs of securities litigation Todd Cosenza  and Antonio Yanez in New York are the principal practitioners. Cosenza recently succeeded in resolving a high-stakes securities class action against CBS, which was accused of making false or misleading statements related to sexual misconduct by its former CEO. The firm’s IPO work includes the on-going representation of underwriters to Uber’s $1bn listing. Litigation partners Charles Dean Cording in New York and Laura Leigh Geist in San Francisco also feature in high-profile cases.

Akin frequently acts for private investment funds, broker dealers, and public accounting firms in private litigation under federal securities and commodities laws. It is well versed in both securities litigation and regulatory enforcement actions, often handling both in parallel for the same client. Stephen M. Baldini and Douglas Rappaport lead the practice from New York. Baldini and key partner Neal Marder in Los Angeles both played important roles in the defense of Eastman Kodak Company in multiple derivative and securities class actions. Scott Barnard, who recently handled a high-stakes matter for AB Energy Opportunity Fund, and Michelle Reed are the key partners in Dallas. New York-based Uri Itkin is a seasoned trial lawyer with substantial experience in cases involving structured finance and investment funds.

Arnold & Porter's 11-partner securities enforcement and litigation practice frequently handles high-stakes federal and state class action securities and derivative actions, as well as SEC, DOJ, CFTC and FINRA investigations. Many of its cases concern allegations of market manipulation and insider trading. Veronica Callahan in New York leads the group. She led one of the most highly publicized securities fraud cases brought in recent years when she defended the founder of Infinity Q Capital Management. Key partner Kathleen Reilly was also involved in that case. Aaron Miner recently acted for Yelp Inc. in a class action alleging misrepresentations and omissions relating to retention levels for local advertisers. In Washington DC, up-and-coming partner Jane Norberg, former Chief of the Office of the Whistleblower for the SEC, and Daniel Hawke, former head of the SEC’s Market Abuse Unit, are the key contacts.

Baker Botts L.L.P. is a big name in the energy sector, acting for major clients including ConocoPhillips and Apache Corporation. Additionally, it is increasingly involved in high-stakes matters in the telecoms, real estate, and professional services sectors. Houston-based managing partner Danny David oversees the firm’s securities litigation work along with global litigation co-chair Bridget Moore in Washington DC., as well as co-chairs of the securities litigation practice Jessica Pulliam in Dallas and Houston-based Amy Hefley. Pulliam is handling two 10b5 cases for AT&T concerning the use of lead-clad cables in the telecom industry. Former head of litigation David Sterling recently worked with Hefley and up-and-coming New York partner Brian Kerr to defend Chicago Bridge & Iron Company in a notable class action case.

The New York office of Cadwalader, Wickersham & Taft LLP is highly focused on securities cases arising from the financial services sector, frequently advising leading corporates and major financial institutions. The firm continues to be involved in significant cases involving the manipulation of industry benchmark Libor rates. Experienced commercial litigator Nicholas Gravante leads the practice together with the chair of the global litigation group Jason Halper, who is a key adviser on litigation risks arising from the transition from Libor to new financial benchmarks. Halper also advises major financial institutions on cases arising from the impact of complex financial instruments. Ellen Holloman‘s broad practice sees her acting for financial institutions and corporations in civil litigation and regulatory enforcement proceedings. She recently assisted Nikola Motors with matters arising from its acquisition in a SPAC transaction. White-collar defense and investigations specialist Kenneth Breen and seasoned trial lawyer Phara Guberman also play key roles in the practice.

The New York office of Clifford Chance has a small but active group of securities litigators led by the head of the US litigation practice Robert Houck. Experienced in complex cross-border securities and commercial litigation, including class actions and investigations, Houck frequently acts for large companies, underwriters, corporate officers, and outside directors in class actions. His recent work includes the successful defense of ICBC Standard Bank in a class action alleging manipulation of platinum and palladium benchmarks in London. All claims were dismissed. On that matter, Houck worked closely with John Friel, who focuses on securities, derivatives, and antitrust matters, and senior counsel David Yeres. Partner Anthony Candido is also active in federal and state courts at the trial and appellate level, and he recently worked with Houck to advise a major US financial institution on SEC and DOJ investigations, which also involved key team members in the firm’s Washington DC office.

New York-based firm Cohen & Gresser LLP is known for its expertise in litigation concerning complex financial products, which sees it frequently act as counsel to broker-dealers, investment advisors, hedge funds, and private equity funds. Its understanding of financial markets also see it involved in emerging areas of law, including cryptocurrency litigation. Practice head Mark Cohen, along with Lawrence Gresser, is currently representing Samuel Bankman-Fried, founder and former CEO of international cryptocurrency exchange FTX, in parallel DOJ, SEC and CFTC matters. Key partner Gale Dick, whose broad practice encompasses commercial disputes and criminal enforcement issues, played a pivotal role in defending former directors and officers of CBD company Sentia Wellness in securities fraud litigation. White-collar defense specialist David Lisner also took lead role in that matter.

The securities litigation practice at Dentons is ‘very thorough and successful', who praise New York-based practice head Sandra Hauser, global co-head of financial services Douglas Henkin and co-chair of the global compliance and investigations practice David Kornblau. The firm is adept in navigating high-profile litigation and SEC disputes, a prime example being its work for Terraform Labs and its co-founder Do Kwon, which comprised the defense of an SEC action, and the defeat of a proposed class action concerning the stablecoin TerraUSD (UST), the cryptocurrency Luna, and its decentralized finance (DeFi) platforms Mirror Protocol and Anchor Protocol. Kornblau and Henkin took the lead in those matters. Chicago-based Stephen Senderowitz is another standout practitioner. Working with Hauser, he is currently representing CIBC in a securities fraud and market manipulation suit. Securities class action specialist Kenneth Pfaehler in Washington DC is also highly recommended.

Clients praise DLA Piper LLP (US) for its ‘excellent subject matter expertise’. The firm is best known for its work on behalf of companies in the life sciences, financial services, insurance and technology sectors. The co-chairs of the practice, John Clarke in New York and Melanie Walker in Los Angeles, are highly respected for complex litigation and internal investigations involving securities and financial instruments. Experienced LA-based partner Richard Zelichov is ‘extremely diligent and very creative’. He recently assisted former officers of Workhorse with the resolution of a securities class and nine derivative suits concerning statements about  its participation in the proposal process for a next generation delivery vehicle for the USPS. Seasoned trial and appellate lawyer John Hillebrecht in New York and former SEC attorney Jason Lewis in Dallas are also key members of the practice.

Katten has built a strong reputation in regulatory investigations, securities class and derivative cases, whether for high-growth businesses to Fortune 500 companies. Working from both Los Angeles and New York, seasoned litigator and chair or the securities litigation group Bruce Vanyo remains a key adviser to some of the firm’s largest corporate clients. The firm also has strong practitioners in Chicago, where Michael Diver, a former Enforcement Branch Chief of the SEC’s Chicago office, and Michael Lohnes are the key contacts. Christina Costley is a notable member of the LA team, and she worked closely with Vanyo on the defense of Natera, Inc, which faced allegations of making misleading statements in its public disclosures concerning the accuracy of its testing technology and its growth projections.

The securities litigation team at Mayer Brown is described by clients as ‘top-notch’ in complex litigation. Joe De Simone in New York and ‘calm and positive‘ Glenn Vanzura in Los Angeles co-lead the securities litigation and enforcement practice, which continues to act in high-profile SEC and DOJ investigations as well as in securities class actions. Both De Simone and Vanzura are acting for Generac in class and derivative actions concerning alleged misrepresentations and omissions in SEC documents. Up-and-coming partner Jacqueline Vallette, who works from the Houston and Los Angeles offices, is increasingly visible in the market, and her work with Vanzura in a class action arising from the IPO of GoHealth, Inc. is a prime example. New York-based Matthew Ingber also plays a central role in the firm’s key matters.

Morrison Foerster has ‘a breadth of knowledge and experience' regarding complex securities litigation defense cases. Whether it is securities class actions, derivative cases, or SEC investigations, the firm is able to call on experienced litigators across the US to handle high-profile conflicts. Jordan Eth in San Francisco, ‘spectacular attorney‘ Haimavathi Marlier in New York, and James Koukios in Washington DC are co-chairs of the securities litigation, enforcement and white-collar defense practice. Notably, Marlier and New York-based Jamie Levitt, defended venture fund LaunchCapital LLC and Woody Benson, a director of co-defendant Atonomi, in a securities class action. The case was successfully settled. Anna Erickson White is the key contact in San Francisco. She worked with Ryan Keats to assist enterprise data platform company Cloudera, Inc. with a class action alleging it made misleading statements about its cloud-native products.

The national securities litigation practice at Paul Hastings LLP are ‘top-notch attorneys who are responsive and knowledgeable‘. Practice heads Kevin Broughel, who is ‘a real expert on the judiciary in New York‘, and Jennifer Conn in New York lead the practice, though global chair of litigation Barry Sher also has a pivotal role. Broughel is spearheading the firm’s work in the niche area of cryptocurrency, having acted for Riot Blockchain, Inc. in a securities class action. The ‘exceptional’ Edward Han in Palo Alto and Christopher McGrath in Orange County are also key to the firm’s high-stakes cases. Han recently acted for underwriters including Credit Suisse in a $500m case concerning securities issued by The RealReal, Inc. The firm continues to bulk up its regulatory enforcement practice with the arrival of Bradley Bondi in Washington DC from Cahill Gordon & Reindel LLP and Adam Fee in LA from Milbank.

Vinson & Elkins LLP has ‘deep industry knowledge‘ in its complex commercial litigation practice, many of whom handle high-stakes securities cases. Chris Popov in Houston leads that practice, with Dallas-based Craig Zieminski and Michael Charlson in San Francisco taking the reins of the shareholder litigation and enforcement group. The firm is particularly well known for its work for clients in the energy sector, though it is increasingly involved in a broader spectrum of securities matters. Charlson is currently acting for Genius Brands International, which distributes and licenses children’s cartoon entertainment and related consumer products, in a notable securities class action. Michael Holmes in Dallas is a key figure in the group, and his recent work for EnCap Investments L.P.  in derivative claims. in New York, Lawrence Elbaum in New York also plays a key role in the practice.

Winston & Strawn LLP has an ‘extremely collaborative‘ securities litigation that operates from key centers across the US. James Smith in New York, John Schreiber in Los Angeles, and William O’Neil in Chicago jointly oversee the national securities litigation practice. Schreiber and up-and-coming partner Kerry Donovan in New York are ‘very adept litigators and outstanding communicators’. They acted for Macquarie Infrastructure Corporation in a federal securities class action stemming from a $2bn stock drop in 2018, which is currently on appeal. Key partner Matthew DiRisio‘s on-going work with Smith to defend Becton, Dickinson and Company in a complex case is a major highlight of the firm’s work. The firm is also involved in key matters in the cryptocurrency space, including the defense of private equity firm Vahill Capital in Securities and Exchange Commission v. Ripple Labs, Inc. et al.

The securities and governance litigation group at BakerHostetler in New York continues to build on its growing reputation in both regulatory enforcement matters and securities litigation. Lead partner Douglas Greene has led since joining in 2018. Working with Genevieve York-Erwin, based in both Seattle and New York, he successfully defended Eagle Bancorp and former officers in a notable securities class action. Cleveland-based Douglas Shively is a securities class action specialist whose recent work encompasses matters in New York, Delaware, Ohio, Texas, and Nevada. One of his key highlights saw him defend electric vehicle start-up Lordstown Motors Corp. in a SPAC-related case, which resulted in a class action and shareholder derivative matters in Delaware concerning a $1bn drop in the company’s market capitalisation.

Handling class actions, shareholder derivative litigation, investigations, criminal prosecutions, and administrative proceedings, clients praise Hughes Hubbard & Reed LLP as ‘an excellent team with true subject matter expertise‘. The firm has particularly deep knowledge of the accounting sector. The practice is led from Washington DC by Kevin Abikoff and from New York by Shahzeb Lari and ‘superb trial attorney‘ Marc Weinstein. Abikoff and Lari are currently representing oilfield services company ProPetro Holding Corp. in a class action. New York-based William Maguire, chairs the professional liability practice, is frequently involved in high-profile auditor liability matters. Terence Healy, who works from both DC and New York, is ‘super savvy’.

New York-based Kaplan Hecker & Fink LLP is ‘a boutique firm that punches like a large firm‘. It continues to act for some of the country’s leading financial institutions and commercial businesses in SEC and DOJ enforcement proceedings, as well as complex litigation. Highly regarded white-collar lawyer Sean Hecker leads the practice. He and key partner Jenna Dabbs both represented former Iconix Brand Group CEO Neil Cole in a case alleging that he inflated Iconix’s revenue to hit financial targets. Dabbs and Mike Ferrara, who both served as members of the Securities and Commodities Fraud Task Force, are among several former federal prosecutors who play key roles in both regulatory enforcement matters and securities litigation. Up-and-coming partner Shawn Crowley is frequently involved in the firm’s standout matters.

McDermott Will & Emery LLP has ‘a very capable securities litigation and regulatory practice‘. Increasingly visible in complex securities disputes at both trial and appellate levels in federal and state courts nationwide, the firm handles class actions, derivative cases, and SEC enforcement matters. ‘Savvy and practical‘ global head of litigation Steven Scholes is based in Chicago. He leads a ‘smart, hardworking talented team‘ alongside Timothy Hoeffner in New York, who frequently acts for accounting firms, major banks and underwriters, and large insurers. New York’s Joel Haims and David Momborquette, Boston-based former SEC enforcement attorney Caitlyn Campbell, and up-and-coming partner Paul Helms, in Washington DC are all central figures in the practice.

Morvillo Abramowitz Grand Iason & Anello P.C. is a New York-based litigation boutique with a long history in white-collar defense, regulatory enforcement, business and securities litigation, and it continues to have a prominent role in class actions, derivative suits and civil securities fraud cases. Practice head Edward Spiro and Robert Anello are the standout partners, particularly in white-collar matters, though they both have broad practices that encompass complex securities cases. Key partner Elkan Abramowitz is also highly regarded for white-collar criminal defense, as is emerging partner talent and former federal prosecutor Christopher Harwood. The firm recently acted for the former CFO of oil logistics company Aegean Marine in a class action concerning a $200 million write-off. In that case, Brian Jacobs secured a favourable settlement for the client.

Proskauer Rose LLP‘s litigation group is ‘a delight to work with‘. The firm handles the full range of litigation and regulatory enforcement matters, including SEC investigations and shareholder class actions. Boston-based practice head Timothy Mungovan is recognized as a skill trial attorney, and he recently secured the dismissal of claims of breach of fiduciary duty, aiding and abetting, and unjust enrichment against asset management firm Shamrock Capital Advisors. Key partner Jonathan Richman and asset management and securities litigation specialist Joshua Newville, both based in New York, stand out for their defense of a securities class action against Obra Capital arising from a write-down of the fund’s assets. The arrival of Stephen Hibbard in Los Angeles from Jones Day and Washington DC-based regulatory enforcement specialist Robert Pommer, ‘a superstar in respect of SEC matters‘ from Kirkland & Ellis LLP bolster the firm’s capacity to handle high-stakes matters.

Schulte Roth & Zabel LLP‘s experience in the courtroom is at the heart of its offering in securities and M&A-related cases. For instance, lead partner Michael Swartz secured a major victory for Politan Capital Management LP in a case that could have effectively eliminated shareholder activism as an asset class. The firm is well-regarded for its work in large securities class actions, related derivative litigations and ERISA actions, and has notable expertise in niches such as investment funds litigation, short-swing cases, structured products and SPAC-related matters. William Gussman, who frequently acts for hedge funds, private equity firms, corporations, investment banks, prime brokers, and lenders, and Julia Beskin, who joined from Quinn Emanuel Urquhart & Sullivan, LLP, are also key members of the securities litigation group.

Seyfarth Shaw LLP has a deep bench of regulatory enforcement and securities litigation partners across its New York and Boston offices, and its work encompasses the defense of individuals, companies, board committees, and financial institutions in courts across the US. The firm is particularly adept in advising companies in the technology and healthcare sectors on regulatory investigations, securities class actions, and derivative claims. William Prickett in Boston and New York partners Gregory Markel and Vincent Sama are the co-chairs of the securities and fiduciary duty litigation practice. Markel’s work includes the defense of directors of a bankrupt tech company in Silicon Valley in two 10b5 cases concerning alleged misrepresentations and omissions concerning its prospects. Co-chair of the firm’s national whistleblower team Christopher Robertson is also called up on in high-stakes matters.

White & Case LLP has litigators and regulatory lawyers across the US, but its New York office is the hub of its securities litigation capability. Led by global commercial litigation chair Glenn Kurtz, who is a highly regarded trial lawyer, the practice is active in key areas of the market including SPAC-related cases, regulatory enforcement actions, and securities fraud class actions. Kurtz played a lead role in the defense of Centene Corporation executives in a notable derivative suit. Key partner Kim Havlin handed a notable SPAC case for executives of Netfin Acquisition Corp., which faced allegations of misrepresentations in its business combination with Triterras Fintech Pte. Ltd. She settled the case on favourable terms for the defendant.

The securities litigation practice in Ballard Spahr LLP‘s Philadelphia office ‘delivers practical and concise advice’. Highly-respected trial lawyer David Axelrod leads the practice and Norman Goldberger co-leads the firm’s municipal securities regulation and enforcement team, while the ‘practical, commercially-focused’ Timothy Katsiff frequently handles securities class actions and derivative actions for companies, also stand out. Axelrod’s recent highlights include acting for pharmaceutical company Teva in a case alleging the company engaged in price fixing, and the team also recently negotiated a deferred prosecution that allowed the company to continue as a going concern in the US. John Grugan left the team in March 2024.

Based in Texas, Bracewell LLP is best known for its expertise in the energy industry, which frequently sees it involved in regulatory enforcement proceedings and securities litigation on behalf of oil and gas companies and underwriters. ‘Outstanding' Houston-based lead partner Tony Visage handled the defense of a $180m claim against Stephen J. Shaper of Think Finance in a class action concerning unjust enrichment claims. Stephen Benesh in Austin has extensive experience representing oil and gas royalty trusts and their trustees in class action securities and derivative litigation. Bradley Benoit and Bryan Dumesnil, both based in Houston, also play key roles in the firm’s high-profile matters.

The ‘aggressive and tactical litigation team‘ at Kasowitz Benson Torres LLP in New York acts for both plaintiffs and defendants in securities litigation. Its defense work is frequently for large and public national and international companies. The firm recently negotiated a $430m cash settlement for Teva Pharmaceuticals in one of the largest securities class actions in recent years. Sheron Korpus, Michael Hanin and Stephen Tountas lead the ‘incredibly responsive and technical‘ practice, in which emerging partner talent Andrew Schwartz plays an increasingly prominent role.

Norton Rose Fulbright has a growing role in securities class actions and shareholder derivative suits on behalf of large US corporates. The firm, which also handles internal and government investigations, including matters concerning alleged false statements to the SEC, insider trading, and misleading financial statements, is primarily active for clients in the energy, life sciences and healthcare, and financial services industries. Kevin Harnisch in Washington DC and Sandeep Savla in New York jointly lead the regulation, investigations, securities and compliance practice, which operates from offices across the US. Experienced litigator Peter Stokes in Austin is currently acting for MoneyGram International in a 10b5 class action and a shareholder derivative action conceding a $125m settlement with the Department of Justice and Federal Trade Commission over alleged lapses in the company’s fraud detection controls.

Based in New York, Seward & Kissel LLP frequently acts for public shipping companies, investment managers, broker-dealers and banks in class actions, 10b5 matters, insider trading claims and market manipulation cases. The lead partners are Russell Johnston and Bruce G Paulsen, who are ‘particularly knowledgeable and experienced‘, though head of both the litigation department and the government enforcement and internal investigations group Michael G Considine and complex litigation specialist Jack Yoskowitz are the standout attorneys in the practice. The ‘smart, responsive‘ Michael Watling also plays a key role in the firm’s most complex matters.

Vedder Price’s Chicago office is a prominent player in SEC and DOJ investigations and enforcement actions, as well as securities litigation, and client remark that the key partners are  'very practical in their approach to resolutions'.  Thomas Cimino leads the financial services litigation practice, as well as serving as overall head of litigation, and he is a key figure in securities fraud class actions, shareholder disputes, patent infringement, and bankruptcy litigation. Along with regulatory enforcement specialist Junaid Zubairi, he secured the dismissal of a claim against a former accounting director of publicly traded Roadrunner Transportation Systems, Inc. concerning an alleged an alleged $245m securities and accounting fraud scheme. Randall Lending is recommended for his extensive experience in jury trials, bench trials, arbitration and class actions.