Five C&G attorneys are recognized by their peers as “Best Lawyers” in their respective practice areas:

• Mark S. Cohen – Criminal Defense: White-Collar
• Lawrence T. Gresser – Commercial Litigation
• Jonathan S. Abernethy – Criminal Defense: White-Collar and Litigation - Regulatory Enforcement
• Jason A. Brown – Criminal Defense: White-Collar
• Mark Spatz – Product Liability Litigation - Defendants

Seven C&G attorneys are recognized as “Best Lawyers: Ones to Watch” in their respective practice areas:

• Luke Appling – Commercial Litigation and Litigation - Securities
• Sharon L. Barbour – Commercial Litigation and Criminal Defense: White-Collar
• William E. Kalema – Criminal Defense: White-Collar
• Phoebe King – Criminal Defense: White-Collar
• Barbara K. Luse – Commercial Litigation and Corporate Law
• Alexandra K. Theobald – Commercial Litigation and Corporate Law
• Benjamin Zhu – Criminal Defense: White-Collar

The firm’s White Collar Defense & Regulation practice is once again ranked in the guide, maintaining its position as one of the “Elite” firms in the Litigation: White-Collar Crime & Government Investigations category. Chambers recognized the firm’s “strong regulatory investigations and enforcement practice,” specifically highlighting its “expert financial services practice which offers particular strengths in FINRA and SEC proceedings.” Client feedback praises the team for its “strong expertise with the DOJ and with prosecutors.”

The Commercial Litigation practice is also ranked in the Litigation: General Commercial: Highly Regarded category, receiving high praise from clients for having a “strong understanding of the client’s needs” and for being “smart, creative and willing to try difficult strategies and aggressive approaches.”

The firm’s Antitrust & Competition practice is ranked in the Antitrust category, with Chambers noting that “Cohen & Gresser houses a strong practice across a range of antitrust disputes [including] sophisticated litigation.” Client feedback praises the team for being “creative and responsive” and having “strong knowledge of antitrust class actions.”

Partners throughout Cohen & Gresser’s US practices also earned individual rankings in the following categories:

Antitrust: Litigation Specialists (DC)                                  

Melissa H Maxman

John Roberti

Litigation: General Commercial (NY)

Lawrence T Gresser

Litigation: Securities (NY)

Mark S Cohen

Litigation: White-Collar Crime & Government Investigations (NY)

Jonathan S Abernethy

Jason Brown

Mark S Cohen

Christian R Everdell

Chambers is the world’s leading legal data and analytics provider, highlighting the top lawyers and law firms across the USA based on in-depth research that includes reference feedback, client satisfaction, reputation in the market, peer knowledge, and other discreet independent market sources.

The firm’s rankings are:

National Tier 2: Criminal Defense: White-Collar

National Tier 3: Litigation - Securities

Metropolitan (New York City) Tier 1: Criminal Defense: White-Collar; Product Liability Litigation - Defendants

Metropolitan (New York City) Tier 2: Litigation - Securities

Since 2010, Best Law Firms has conducted in-depth research analyzing feedback from clients and professional references, information submitted by firms, lawyer evaluations collected in conjunction with Best Lawyers, and interviews with industry leaders to rank and recognize firms for excellence in various practice areas.

Super Lawyers named C&G co­founder Mark S. Cohen one of the Top 10 lawyers in the New York metropolitan area. Partners Jonathan S. Abernethy and Karen H. Bromberg have also been named to the Super Lawyers list of the Top 100 lawyers in the New York metropolitan area. Additionally, Karen has been recognized as one of the Top 50 women lawyers within the same region.

Super Lawyers and Rising Stars are annual lists of outstanding lawyers who have attained a high degree of peer recognition and professional achievement. Only 5 percent of the lawyers in each state are selected as Super Lawyers, and only 2.5 percent are selected as Rising Stars.

The C&G lawyers recognized on the New York Metro Super Lawyers list are:

• Jonathan S. Abernethy, Criminal Defense: White Collar
• Kwaku Andoh, Mergers & Acquisitions
• Luke Appling, Civil Litigation: Defense
• Elizabeth Bernhardt, Business Litigation
• Colin C. Bridge, Criminal Defense: White Collar
• Karen H. Bromberg, Intellectual Property
• Jason Brown, Criminal Defense: White Collar
• Joanna K. Chan, Securities Litigation
• Mark S. Cohen, Business Litigation
• S. Gale Dick, Business Litigation
• Christian R. Everdell, Criminal Defense: White Collar
• Robert J. Gavigan, Mergers & Acquisitions
• Lawrence T. Gresser, Business Litigation
• Oliver S. Haker, Business Litigation
• Johannes Jonas, Mergers & Acquisitions
• Nicholas J. Kaiser, Real Estate
• Jeffrey I. Lang, Civil Litigation: Defense
• David F. Lisner, Business Litigation
• Ellen Paltiel, General Litigation
• Douglas J. Pepe, Business Litigation
• Matthew V. Povolny, Business Litigation
• Nathaniel P. T. Read, Business Litigation
• Bonnie J. Roe, Securities & Corporate Finance
• Stephen M. Sinaiko, Business Litigation
• Mark Spatz, Civil Litigation: Defense
• C. Evan Stewart, Securities Litigation
• Daniel H. Tabak, Business Litigation
• Scott D. Thomson, Business Litigation
• Alexandra Wald, Business Litigation

The C&G lawyers recognized on the New York Metro Rising Stars list are:

• Sharon L. Barbour, Criminal Defense: White Collar
• Randall W. Bryer, Business Litigation
• Shannon A. Daugherty, Business Litigation
• Drew S. Dean, General Litigation
• Jesse Greenwald, Criminal Defense: White Collar
• Christine M. Jordan, General Litigation
• William Kalema, Business Litigation
• Sri Kuehnlenz, Civil Litigation: Defense
• Marvin J. Lowenthal, Criminal Defense: White Collar
• Barbara K. Luse, Criminal Defense: White Collar
• Benjamin Zhu, General Litigation

Six C&G attorneys are recognized by their peers as “Best Lawyers” in their practice areas:

• Mark S. Cohen – Criminal Defense: White-Collar
• Lawrence T. Gresser – Commercial Litigation
• Jonathan S. Abernethy – Criminal Defense: White-Collar
• Colin Bridge – Criminal Defense: White-Collar
• Jason A. Brown – Criminal Defense: White-Collar
• Mark Spatz – Product Liability Litigation - Defendants

Eight attorneys are recognized as “Best Lawyers: Ones to Watch” in their practice areas:

• Luke Appling – Commercial Litigation and Litigation - Securities
• Sharon L. Barbour – Commercial Litigation and Criminal Defense: White-Collar
• William E. Kalema – Criminal Defense: White-Collar
• Phoebe King – Criminal Defense: White-Collar
• Barbara K. Luse – Commercial Litigation and Corporate Law
• Alexandra K. Theobald – Commercial Litigation and Corporate Law
• Eszter Vincze – Commercial Litigation and Criminal Defense: White-Collar
• Benjamin Zhu – Criminal Defense: White-Collar

Six C&G attorneys have been recognized by their peers as a “Best Lawyer” in their practice areas:

• Jonathan S. Abernethy – Criminal Defense: White-Collar
• Thomas E. Bezanson – Commercial Litigation and Product Liability Litigation – Defendants
• Jason A. Brown – Criminal Defense: White-Collar
• Mark S. Cohen – Criminal Defense: White-Collar
• Mark Spatz – Product Liability Litigation – Defendants
• C. Evan Stewart – Litigation – Securities

• Luke Appling – Commercial Litigation and Litigation – Securities
• Sharon L. Barbour – Criminal Defense: White-Collar
• William E. Kalema – Criminal Defense: White-Collar
• Alexandra K. Theobald – Commercial Litigation

The guide highlights C&G’s “elite group of practitioners” and use of advanced machine learning techniques and notes that the firm “handle[s] cases that are every bit as complex and challenging as big, national law firms.” Commentators noted that the firm “punches way above its weight” in litigation and investigation matters.

C&G Co-Founder Mark S Cohen is one of only two lawyers in the United States to be recognized as a “Leading Lawyer” in both Securities Litigation: Defense and Corporate Investigations and White-Collar Criminal Defense. Commentary from The Legal 500 recognizes Mark as a “top-tier advocate” who is “at the top of the profession” and “can litigate with the best of them.”

For the first time, C&G’s Antitrust practice has been recognized in Antitrust: Civil Litigation/Class Actions: Defense for its handling of class action cases concerning allegations of cartel behavior, monopolization, and other exclusionary conducts. The Legal 500 cites the leadership of Melissa H Maxman and the addition of “heavyweight” lawyer John Roberti as key reasons for the practice’s recognition.

C&G is again recognized in the Advice to Individuals and Advice to Corporates categories of the Corporate Investigations and White-Collar Criminal Defense section. The Legal 500 commentary notes that the practice is led by “partners with deep experience who obtain excellent results for clients” and is “well placed to handle transatlantic cases” with offices in New York, Paris, and London, and has “particular expertise in financial crime, antitrust enforcement, public corruption, and tax issues.”

The guide has also recognized C&G once again in the General Commercial Disputes category, praising the practice for showing the “discipline and focus necessary to win a case.” Testimonials from the guide highlight the team’s ability to “handle large and complex matters” with “experienced people, good judgment,” and “better use of technology.”

For the 10th consecutive year, C&G has been recognized in the Securities Litigation: Defense category for the firm’s “expertise in the financial services sector” and “recognized trial expertise” in cross-border and domestic securities litigation and enforcement proceedings. The Legal 500 emphasizes the team’s “strong practitioners” and “attentiveness to clients” in the 2022 guide.

Recognized Practices:

• Antitrust: Civil Litigation/Class Actions: Defense
• Corporate Investigations and White-Collar Criminal Defense: Advice to Individuals
• Corporate Investigations and White-Collar Criminal Defense: Advice to Corporates
• General Commercial Disputes
• Securities Litigation: Defense

Antitrust: Civil Litigation/Class Actions: Defense

• Melissa H Maxman
• John Roberti
• Ronald F Wick

• Jonathan S Abernethy
• Jason Brown
• Mark S Cohen
• S Gale Dick
• Jeffrey I Lang
• Melissa H Maxman
• Reggie Schafer

• Mark S Cohen
• S Gale Dick
• Lawrence T Gresser
• Melissa H Maxman
• Daniel H Tabak

• Jonathan S Abernethy
• Mark S Cohen
• S Gale Dick
• Lawrence T Gresser

The Legal 500 analyzes the capabilities of law firms across the world. Its rankings “highlight the practice area teams who are providing the most cutting edge and innovative advice to corporate counsel.”

C&G’s Commercial Litigation practice is once again ranked in Litigation: General Commercial: Highly Regarded. The practice is recognized for being “regularly sought after by individuals and corporates for representation in securities class actions and derivative matters, as well as various shareholder and product litigation.” Clients note that the team is comprised of “litigators that you don’t want to mess with” and is one that “you can rely on.”

C&G’s White Collar Defense & Regulation practice is ranked in Chambers USA for the ninth consecutive year. The practice maintains its position as one of the “Elite” firms in Litigation: White-Collar Crime & Government Investigations. Chambers highlights the practice’s “talented pool of litigators with a wealth of government experience” and its “international presence” as key reasons for its continued ranking. Commentary from the guide notes that the practice is “a substantial player in the New York white-collar world” that has “burst onto the scene with strong former prosecutors” and “good results for their clients.”

Ranked Departments:

• Litigation: General Commercial: Highly Regarded
• Litigation: White-Collar Crime & Government Investigations: The Elite

District of Columbia

Antitrust: Litigation Specialists

• Melissa H Maxman
• John Roberti

New York

Litigation: General Commercial

• Lawrence T Gresser

• Mark S Cohen

• Jonathan S Abernethy
• Mark S Cohen
• Christian R Everdell

Super Lawyers ranks outstanding lawyers who have attained a high degree of peer recognition and professional achievement. Only five percent of the lawyers in each state are selected as Super Lawyers, and only 2.5 percent are selected as Rising Stars.

Super Lawyers

Jonathan S Abernethy: Criminal Defense: White Collar

Kwaku Andoh: Mergers & Acquisitions

Elizabeth Bernhardt: Business Litigation

Thomas E Bezanson: Personal Injury – Products: Defense

Colin C Bridge: Criminal Defense: White Collar

Karen H Bromberg: Intellectual Property

Jason Brown: Criminal Defense: White Collar

Joanna K Chan: Securities Litigation

Mark S Cohen: Business Litigation

S Gale Dick: Business Litigation

Christian R Everdell: Criminal Defense: White Collar

Lawrence T Gresser: Business Litigation

Oliver S Haker: Business Litigation

Johannes Jonas: Mergers & Acquisitions

Nicholas J Kaiser: Real Estate

Jeffrey I. Lang: Business Litigation

Melissa H Maxman: Antitrust Litigation

Ellen Paltiel: General Litigation

Nathaniel P T Read: Business Litigation

Bonnie J Roe: Securities & Corporate Finance

Stephen M Sinaiko: Business Litigation

C Evan Stewart: Securities Litigation

Daniel H Tabak: Business Litigation

Scott D Thomson: Business Litigation

Alexandra Wald: Business Litigation

Ronald F Wick: Antitrust Litigation

Rising Stars

Luke Appling: Civil Litigation

Sharon L Barbour: Criminal Defense: White Collar

Drew S Dean: General Litigation

William Kalema: Business Litigation

Sri Kuehnlenz: Civil Litigation

Winnifred A Lewis: Securities Litigation

Marvin J Lowenthal: Criminal Defense: White Collar

Barbara K Luse: Criminal Defense: White Collar

Matthew V Povolny: Business Litigation

Benjamin Zhu: Criminal Defense: White Collar

• Jonathan S. Abernethy – Criminal Defense: White-Collar
• Thomas E. Bezanson – Commercial Litigation and Product Liability Litigation: Defense
• Jason A. Brown – Criminal Defense: White-Collar
• Mark S. Cohen – Criminal Defense: White-Collar
• Evan Stewart – Litigation – Securities

• Sharon L. Barbour – Criminal Defense: White-Collar
• Winnifred A. Lewis – Commercial Litigation
• Alexandra K. Theobald – Commercial Litigation

• Corporate Investigations and White-Collar Criminal Defense: Advice to Individuals
• Corporate Investigations and White-Collar Criminal Defense: Advice to Corporates
• General Commercial Disputes
• Securities Litigation: Defense

• Jonathan S Abernethy
• Jason Brown
• Mark S Cohen
• S Gale Dick
• Miriam González Durántez
• Melissa H Maxman

• Mark S Cohen
• S Gale Dick
• Lawrence T Gresser

• Mark S Cohen
• S Gale Dick
• Lawrence T Gresser
• Nathaniel P T Read

• Litigation: General Commercial: Highly Regarded
• White-Collar Crime & Government Investigations: The Elite

• Karen H Bromberg

• Lawrence T Gresser

• Mark S Cohen

• Jonathan S Abernethy
• Mark S Cohen
• Christian R Everdell

Mark S Cohen, Jonathan S Abernethy, Jason Brown, C Evan Stewart, and Thomas E Bezanson were recognized in The Best Lawyers in America‘s 2021 New York listings. Mark, Jonathan, and Jason were recognized for white collar criminal defense; Evan for securities litigation; and Tom for commercial litigation and product liability litigation defense. Additionally, Sharon L Barbour, Winnifred A Lewis, and Nicole Dhir were recognized in the New York list of The Best Lawyers in America: Ones to Watch. Sharon was recognized for white collar criminal defense; Winnifred for commercial litigation; and Nicole for commercial litigation and securities litigation.

• Corporate Investigations and White Collar Criminal Defense: Advice to Individuals
• Corporate Investigations and White Collar Criminal Defense: Advice to Corporates
• General Commercial Disputes
• Securities Litigation: Defense

Chambers has recognized Cohen & Gresser in its 2020 USA guide for its achievements in General Commercial Litigation and White Collar Crime & Government Investigations. Chambers commentary highlights the firm's "thoroughness, quality, responsiveness, client care and availability,” noting that "the level of service is stellar, the work product is uniformly superb,” and that C&G is "a great firm with high quality across the board."

Chambers also recognized the following individuals: Jonathan S Abernethy for White Collar Crime & Government Investigations; Karen H Bromberg for Intellectual Property: Patent; Mark S Cohen for Securities Litigation and White Collar Crime & Government Investigations; and Lawrence T Gresser for Commercial Litigation.

• Corporate Investigations/White Collar
• Corporate Investigations/White Collar – Advice to Individuals
• General Commercial Disputes
• Securities Litigation Defense

Chambers has again recognized C&G for its excellence in General Commercial Litigation, Securities Litigation, and White Collar Crime & Government Investigations. Chambers notes C&G’s “strong commitment to client service” and “top-quality advice,” labeling the firm as “outstanding.”

Chambers also recognized the following individuals: Jonathan S Abernethy for White Collar Crime & Government Investigations; Karen H Bromberg for Intellectual Property: Patent; and Mark S Cohen for General Commercial Litigation, Securities Litigation, and White Collar Crime & Government Investigations.

Partner C Evan Stewart is quoted in The New York Times regarding the SEC’s decision to rehear cases as a result of a Supreme Court decision. 

• Corporate Investigations/White Collar – Advice to Corporates
• Corporate Investigations/White Collar – Advice to Individuals
• General Commercial Disputes
• Securities Litigation Defense

Chambers has recognized Cohen & Gresser in its 2018 USA guide. The firm is recognized for its excellence in General Commercial Litigation, Securities Litigation, and White-Collar Crime & Government Investigations.

Chambers notes that C&G is "a very high-quality firm" with "very smart, very capable people who are very dedicated to their clients," and that C&G attorneys "have great judgment and are excellent lawyers."

Chambers also recognized the following individuals:

Jonathan S Abernethy for White-Collar Crime & Government Investigations, Karen H Bromberg for Intellectual Property: Patent, and Mark S Cohen for Securities Litigation and for White-Collar Crime & Government Investigations.

We are pleased to announce that the firm and four of its partners are recognized in the 2016 Chambers USA legal directory. This year's directory recognizes the firm in White Collar Crime & Government Investigations, Securities Litigation, and Patents. Read more

Cohen & Gresser is pleased to announce the expansion of the firm's litigation and arbitration and white collar defense practice groups with the addition of partner Stephen Sinaiko to our New York office.

Goldman Escapes MBS Class Action Over Lack Of Evidence.

The Legal 500 United States ranked Cohen & Gresser for its achievements in securities litigation in its recently released 2015 guide.  The guide notes Cohen & Gresser’s “extraordinary team of attorneys, who present cases in the best and most efficient manner practicable.”  Partners Mark S. Cohen, Lawrence T Gresser, S Gale Dick, C Evan Stewart, and Daniel H Tabak were also noted as “impressive” attorneys in this field.  The Legal 500 offers nationwide rankings by reviewing the strengths and strategies of law firms across the country.  Founded in 1987, Legalease, publisher of the Legal 500 directories, is a leader in the provision of legal market information, offering authoritative and in-depth analysis and commentary across a broad portfolio of publications, spanning directories, magazines, journals, textbooks, and online. The Legal 500 U.S. 2015 Guide offers nationwide rankings by reviewing the strengths and strategies of law firms across the country. 

On Wednesday January 21st, 2014, the U.S. Securities and Exchange Commission slapped Standard & Poor’s with a one-year suspension from rating certain mortgage-backed securities as part of a $77 million settlement over alleged fraudulent misconduct in past ratings. Here, C&G Partner C Evan Stewart weighs in on why the settlement is significant.

Cohen & Gresser has been ranked as a "Recommended" New York law firm in the 2015 edition of Benchmark Litigation.   In addition to the firm’s ranking, partners Mark S Cohen, Lawrence T Gresser, C Evan Stewart, and Karen H Bromberg were all individually recognized by the publication.  Benchmark Litigation is a leading guide to top litigation firms and attorneys in the United States and bases its rankings on extensive face-to-face interviews around the country over a six-month period with the nation's leading private practice attorneys and in-house counsel. 

The Legal 500 United States ranked Cohen & Gresser for its achievements in securities litigation in its recently released 2014 guide. Legal 500 noted that the firm is "young and nimble," naming Mark S Cohen as the leader of a team of "experienced lawyers who work at a more palatable price than competing firms."  Lawrence T Gresser and Daniel H Tabak are also recommended in light of their successful dismissal of a short swing profits case for Goldman Sachs, and C Evan Stewart was highlighted in the report as an "incredible trial lawyer with big case experience."

C&G's managing partner Lawrence T Gresser and other top Manhattan attorneys, weigh in on why the decision in Halliburton Co. et al. v. Erica P. John Fund is significant.

A recent ruling in favor of Cohen & Gresser client Peter Black marked the end of one of the longest SEC's trials in history.  AmLaw's Litigation Daily recognized this victory by naming Mark S Cohen as a "Litigator of the Week". 

Top New York litigators weigh in on the Second Circuit's SEC - Citigroup ruling. C&G partner C Evan Stewart was among those quoted. 

Law360 speaks to C&G partner Evan Stewart about the Second Circuit's reversal of Judge Rakoff's rejection of the SEC's settlement with Citigroup Inc. 

On Friday, May 30, 2014, a Cohen & Gresser trial team led by Mark S Cohen and Jonathan S Abernethy won a major trial victory on behalf of its client, Wynnefield Capital Inc. analyst Peter Black, in an insider trading case brought by the SEC. 

Chambers USA ranked Cohen & Gresser's White Collar Defense group and listed its Securities Litigation group as a Recognized Practice. In its analysis, Chambers USA commented that the firm is "[n]oted for its litigation capabilities across the full spectrum of industry sectors" and has a "[r]espected white-collar crime and government investigations practice." 

Mark S. Cohen is ranked in the White-Collar Crime & Government Investigations category, has been described as being an "effective advocate and very effective at counseling a client through a very difficult investigative process."  Jonathan S Abernethy, also ranked in the White-Collar Crime & Government Investigations category, received praise for his "excellent knowledge of the law."

Cohen & Gresser is defending an individual accused of participating in an insider trading scam in a long-standing case brought by the SEC.  Law360 covered the beginning of the trial and Partner Mark S. Cohen’s opening statement.

Former portfolio manager Mathew Martoma of SAC Capital Advisors was recently found guilty of engaging in what's been dubbed as 'the most lucrative insider trading scheme in U.S. history'.  C. Evan Stewart weighs in on how Martoma's eventual cooperation with authorities came way too late in the game.

Law360's coverage of the recent Second Circuit ruling which affirmed Wednesday that Goldman Sachs Group Inc. won't have to disgorge nearly $2 million in short-swing trade profits of Leap Wireless International Inc. derivatives, finding Goldman wasn't a statutory Leap insider when it purchased the options in question.

C&G Further Expands Financial Litigation Practice with Addition of Top Securities Litigator C Evan Stewart.

C Evan Stewart's partnership at Cohen & Gresser has been covered in the following publications:

New York Law Journal, January 7, 2014.

The Deal, January 7th, 2014.

This C&G Client Alert examines the proposed Insider Trading Prohibition Act recently unanimously approved by the Financial Services Committee of the U.S. House of Representatives. If the bill becomes law, it would simplify an inherently complex legal area, but might also lead to regulators and prosecutors bringing more insider trading cases.

Partner C Evan Stewart examines Lorenzo v. S.E.C. in his latest article for the New York Law Journal.

In his latest article for the NY Business Law Journal, C Evan Stewart explores the attorney work product doctrine as it relates to investigations by the Securities and Exchange Commission and other government agencies.

This article appeared in NY Business Law Journal, Summer 2018, Vol. 22, No. 1, published by the New York State Bar Association, One Elk Street, Albany, New York 12207.

Christian R Everdell analyzes the potential implications of the regulation of cryptocurrency as a result of Ryan Coffey v. Ripple Labs, Inc. in his latest article for Law360. 

Even start-ups are being disrupted! In this article, C&G counsel Christian Everdell examines the SEC’s role in regulating Initial Coin Offerings.

C Evan Stewart examines the judicial development that affected the conflicting dictates between state law and the rules and regulations promulgated by the Securities and Exchange Commission after the Sarbanes-Oxley Act of 2002 went into effect.

Newly revised Regulation A, dubbed Regulation A+, is designed to help smaller companies raise funds in public markets.  This articles explores some opportunities offered by this regulatory innovation.

Lawyers who represent public companies are faced with a problem about which most are clueless. In a number of states (including New York), lawyers’ confidentiality obligations are at odds with the requirements mandated by the U.S. Securities and Exchange Commission. Is there a way out of this conundrum? Mr. Stewart attempts to get to the bottom of this matter in his latest article in the New York Law Journal.

After clearing a last minute hurdle, Regulation A+ became effective on June 19, 2015.  The new SEC regulation is designed to facilitate a mini-IPO market for U.S. and Canadian companies that are not yet ready to do a full registered offering.  On June 16, 2015, the SEC refused to stay the implementation of the regulation during the pendency of litigation in the U.S. Court of Appeals for the D.C. Circuit, where the Montana state auditor and commissioner of Securities and Insurance, together with the Massachusetts Secretary of the Commonwealth, seek to challenge the new rule’s preemption of state securities laws for certain offerings.

Recent developments in insider trading cases have shown the limitations on prosecutions and Securities and Exchange Commission (SEC) enforcement actions, particulalry those involving chains of tippers and tippees charged with receiving and trading on material, non-public information. This article addresses how recent trial and appellate outcomes highlight limitations for insider trading cases and will suggest some resulting practice implications. 

The SEC has recently undertaken a review of its principal regulations for periodic reporting by publicly traded companies, in response to claims that the reporting process has become overly burdensome and that investors are blinded by “disclosure overload” that makes it difficult to discern the important facts within a mass of detail.  If the regulations were re-written today, they would undoubtedly focus on some different issues.  But the key to more effective disclosure lies in better presentation.  Companies can (and sometimes do) present information in easy-to-understand formats, and they should be encouraged to do so.  In addition, the SEC has a chance to make its website more user-friendly for investors, and it should seize this opportunity to do so.

In a further analysis of Judge Rakoff’s multi-year attempts to discourage the SEC from seeking federal courts to put their imprimatur on regulatory settlements, Mr. Stewart questions whether the Second Circuit’s opinion was truly a “loss” for Judge Rakoff; indeed, it would appear that the Judge may well achieve what he wanted in the first place.

Judge Jed Rakoff’s skirmishes with the SEC over the approval of settlements reached a head earlier this year when the Second Circuit vacated one of the Judge’s orders rejecting a Citigroup/SEC settlement. The Judge on August 5, 2014 reluctantly complied with the higher court’s ruling. C. Evan Stewart discusses the dynamics of these judicial decisions and what was really at issue.

In this article, Stewart reviews the rules and regulations promulgated by the U.S. Securities and Exchange Commission to govern attorney conduct in response to congress’s passing the Sarbanes-Oxley legislation in 2002, and juxtaposes those rules and regulations with conflicting ethical standards enacted by the states. He then, based upon a recent decision of the Second Circuit Court of Appeals, predicts the likely outcome of preemption litigation that will one day ensue as a result of the conflict. 

Because of the whistleblower provisions of federal statutes such as Dodd-Frank, recent case law, and various articles written on this subject, there has been a fair amount of disinformation as to whether lawyers are free to rat on their clients and then also profit thereby. This article explores related concepts with intentions of determining what is right.

Regardless of which side ultimately benefits, the Supreme Court's message for antitrust litigants is clear: Class action is an exception to the usual rule.

Will proposed Regulation A+ result in a vibrant public market for smaller company stocks, or will it remain unused like current Regulation A? The proposed regulation would exempt offerings of up to $50 million of securities annually from the registration requirements of the Securities Act, an increase from the current limit of $5 million within a 12-month period.  

Dell’s board of directors played a starring role in helping Michael Dell defeat the legal challenge of taking Dell Inc. private in a $25 billion dollar buyout. The committee’s role in protecting the transaction is a text book lesson on navigating complex transactions.

When a sovereign nation defaults, investors in its debt securities are often left without recourse. NML Capital, Ltd. v. Republic of Argentina is reimagining, and may even protect, the rights of U.S. corporations holding foreign sovereign debt.

A series of recent decisions suggest that courts are actively considering the practicality of the fraud-on-the-market doctrine, which has historically been one basis for argument by plaintiffs in securities class actions.

Corporations of all sizes, public and private, are susceptible to shareholder derivative suits. Fortunately, recent decisions from the Delaware courts suggest at least two mechanisms counsel can employ to limit exposure to derivative litigation in multiple forums and to minimize the burden of those cases.

With interest rates at historic lows and the economy slowly strengthening, leveraged buyouts (“LBOs”) remain a popular means of corporate recapitalization.  But a spate of recent litigation has signaled that the predictable LBO benefits traditionally available to tendering shareholders may be in jeopardy.  This article explores the recent decision in In re Tribune Fraudulent Conveyance Litigation, which provided the most comprehensive examination of various LBO issues, to date.

Mr. Stewart talks about how the SEC has suffered serious blows when it was forced to be an advocate in the federal courts.

A discussion of the amendment to Section 12(g) of the Securities Exchange Act and its impact on investment in non-reporting entities.