A&O Shearman

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.

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Key clients

Paramount Global
Sea Limited
Domo, Inc.
electroCore, Inc.
DraftKings
PayPal
Silicon Valley Bank (SVB)
Uber
Pattern Energy
Waitr
Twitter
Bank of America
SAP
Hawaiian Electric
Intercontinental Exchange Inc. (ICE)
Opendoor Technologies
Taro Pharmaceutical
Morgan Stanley (VRDO)
Underwriters in Bumble Inc. secondary public offering
Dingdong
Coupang
Lumen Technologies, Inc
Officers and Directors of BlockFi Inc.
Altice USA, its Board of Directors, and Altice Europe
Liberty Oilfield Services Inc., its Officers and Directors, and Funds Affiliated with Riverstone Holdings
Baker Hughes Inc. Directors and Officers

Work highlights

Won a significant and complete victory for Paramount Global (formerly named ViacomCBS) in a high- profile and closely-watched securities class action litigation arising from the historic collapse of Archegos Capital Management. ViacomCBS was one of the companies whose share prices were swept up in the March 2021 liquidation of Archegos, a family office run by billionaire investor Bill Hwang, who later was indicted for his conduct.
Achieved a significant victory on behalf of Sea Limited in a Securities Act case before Justice Borrok in the New York State Supreme Court. Sea Limited is a Singaporean consumer-internet technology company, that has three distinct business segments: Garena (digital entertainment), Shopee (e-commerce), and SeaMoney (financial services). This case relates to Garena, and specifically its mobile gaming app Free Fire, which is a first-person battle royale game, and was at times over the last several years the most popular game globally.
Obtained an important and precedent- setting litigation victory on behalf of underwriters Morgan Stanley & Co., LLC, Credit Suisse Securities (USA) LLC, Allen & Co., LLC, William Blair & Company LLC, UBS Securities LLC, Cowen and Company LLC, and JMP Securities LLC in the Utah Court of Appeals in which the court affirmed a 2021 trial court decision dismissing a putative securities class action related to the 2018 IPO of Domo, Inc.

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