Broker Dealers: Broker-Dealers & Investment Advisers Regulatory Compliance & Defense

Litigation/Arbitration

The pressures and challenges confronted by companies conducting business in these times of heightened public awareness and increased SEC scrutiny require the counsel of experienced securities litigation attorneys. McGuireWoods has significant experience in national securities litigation that extends to numerous representations of broker-dealers, investment advisers, banks and issuers.

Clients have trusted our ability to represent them in matters before federal and state courts, the Center for Multi-district Litigation, FINRA and AAA arbitrations and mediations. Our experience encompasses all aspects of the expanding services offered by financial institutions, including recent cases involving securities fraud, sales practice violations, ERISA investment standards, failed asset securitizations and defaulted syndicated loans.

Representative Matters

• Represented Fortune 50 financial institution in consolidated securities fraud litigation in Oklahoma state court arising from the bankruptcy of the nation’s largest servicer of defaulted credit card receivables until its financial collapse.
• Representation of broker-dealers in ex parte proceedings in federal and state courts to obtain orders allowing mirror imaging of competitors’ computers to determine the presence of misappropriated confidential and trade secret information.
• Representation of two investment banking firms in obtaining dismissal of multimillion-dollar claims alleging fraud, breach of contract, negligence and breach of fiduciary duty in connection with an IPO.
• Representation of a national securities firm in connection with an NYSE investigation and civil action seeking damages arising from alleged embezzlement from the customer’s brokerage account.
• Representation of a broker-dealer in connection with claims against former employees and new employer for misappropriation of trade secrets, breach of fiduciary duty, breach of contract and tortious interference.
• Representation of broker-dealer in a FINRA arbitration involving claims of breach of fiduciary duty, breach of contract, negligence and common law fraud.
• Representation of broker-dealer in various FINRA arbitrations and mediations by multiple claimants alleging they were placed in unsuitable and highly risky variable annuities.
• Representation of registered representative in a FINRA arbitration involving retail trading and brokerage firm sales practices.
• Representation of a major financial institution in AAA arbitration over the transfer of retirement plans to a successor provider.
• Representation of national securities brokerage firms in multiple cases involving defections of brokers in violation of covenants not to compete.