With ‘top tier legal talent’ throughout its New York and Washington DC offices in particular, including former US government prosecutors and regulators, A&O Shearman is well-positioned to defend corporates, boards of directors, special committees, and individuals in their most pressing private class actions as well as in government-initiated investigations/enforcements. The financial services sector remains a particularly fecund source of work, including as it relates to market manipulation and rate-fixing cases, as well as in the defense of banks for alleged securities-related infractions in their role as underwriters on public company offerings. Adam Hakki remains central to much of this, leveraging deeply engrained relationships with many of Wall Street’s finest to good effect. In addition, Hakki maintains a thriving public company practice, both in the context of Securities Act cases, as well as on shareholder derivatives and M&A litigation. Daniel Lewis and Agnès Dunogué are also very well-versed at handling securities cases for large financial institutions, while Washington DC-based partner Lyle Roberts excels at handling securities-related investigations and enforcement actions before the SEC. In San Francisco, the ‘responsive, focused, strategic and experienced’ Daniel LaGuardia is well-regarded by clients from across a range of industries, including technology, for his skill at handling securities litigation matters, and his prowess at advising on corporate governance-related matters as well as for his overarching commercial litigation smarts. All named practitioners are based out of New York, unless otherwise indicated.

Drawing upon a ‘profound depth of knowledge and exceptional capability’, Cleary Gottlieb Steen & Hamilton provides ‘strategically sound and practically implementable’ advice to a myriad of large corporates, directors and executives and financial institutions facing big-ticket securities litigation. Informed by a trial-ready approach, the New York-based team, which is led by the ‘practical and insightful’ Roger Cooper, regularly achieves early dismissal of cases, as well as subsequently successfully defending those wins in the appeal process. Cooper has been front and center of several of the group’s most noteworthy successes, including its bench trial victory (and on appeal) for Assured Guaranty in relation to a case brought by Lehman Brothers International Europe regarding the alleged improper calculation of credit default swaps, and a summary judgment victory for Allergan at trial level and appeal, quashing a securities class action brought by investors following alleged misstatements and omissions concerning the health risks associated with certain breast implant products. Jared Gerber was also key to the success on behalf of Allergan, and as part of his impressive level of skill in the securities litigation field has, over the years, secured multiple decisions from the Supreme Court on statute of limitation issues. Other key members of the practice include former prosecutor Victor Hou and Mark McDonald, who is skilled at handling securities/shareholder litigation in both the federal court and before the Delaware Court of Chancery.

Combining exceptional tactical/procedural nous with in-depth knowledge of the substantive law concerning securities litigation, New York-based “white-shoe” firm Cravath, Swaine & Moore LLP excels in defending corporates and individual officers spanning a range of industries in high-profile class and individual actions at both trial and appellate level. The ‘tremendously creative’ team is adept at handling traditional Rule 10-b 5, as well as Section 11 and 12 cases, in the process at times developing new law. This was recently exemplified by Wes Earnhardt‘s victory at trial and appellate level for Root, securing the dismissal of a putative class action for alleged false/misleading statements following the company’s IPO, and in the process of the successful appellate defense creating new circuit law on the pleading standard for negligence claims under the federal securities laws. The team also stands out for its ability to try cases should the need arise, with the firm being able to call upon the expertise of several high-profile trial lawyers, including the vastly experienced Daniel Slifkin. As one of only a handful of lawyers who have tried a securities litigation matter to a verdict before a jury, Slifkin is highly sought after in the field, with clients including Tesla regularly seeking out his counsel for their highest-profile matters. Co-head of the firm’s overarching litigation offering, Kevin Orsini also stands out for his trial skills, including his recent work as lead trial counsel for Robinhood as defendant in the sprawling “meme-stock” litigation. The vastly experienced Antony Ryan also had a key role in the Robinhood litigation, and as well as being very skilled in handling private litigation is also adept at handling SEC, DOJ and other governmental investigations and enforcement matters, which often accompany such disputes. Other core members of the team include Lauren Moskowitz, who has developed a particularly strong reputation for financial institutions; Lauren Rosenberg, whose work covers the full spectrum of complex securities matters, including alleged disclosure deficiencies, fraud allegations and corporate governance disputes; and Karin DeMasi, whose varied securities litigation practice, includes representing clients in derivative actions, post-IPO and M&A litigation, and ERISA class actions.

Drawing upon a vast reservoir of institutional knowledge and litigation smarts, developed over many years’ experience defending claims relating to, inter alia, accounting irregularities, M&A and IPO-related issues, and allegedly false or misleading statements, Davis Polk & Wardwell LLP is a popular choice among financial institutions and blue-chip corporates to represent them in high-stakes securities litigation. As part of his wide-ranging commercial litigation offering, James Rouhandeh regularly handles high-profile securities class actions and individual cases, often being engaged by Fortune 500 companies in litigation following a precipitous drop in stock price. Rouhandeh also has excellent traction among banking clients, including Morgan Stanley, which he has represented in myriad RMBS cases since the financial crisis of 2007/8. Edmund Polubinksi also has an impressive list of successes at trial and appellate level for major corporates from a range of sectors, including fintech, as exemplified by his high-profile recent victory for bitcoin mining company Iris. The work for Iris is also an example of the firm’s skill in helping China-based companies navigate securities litigation after going public. As well as handling a considerable volume of work for corporate issuers, Charles Duggan is also adept at representing financial institutions as underwriters in cases relating to securities offerings. California-based Neal Potischman is also skilled at advising underwriters, as well as having developed niche expertise for Chinese issuers in securities litigation in the aftermath of IPOs. Dana Seshens and Paul Spagnoletti co-head the overarching civil litigation practice alongside Rouhandeh, with Seshens noted for her skill at handling disputes involving IPOs, M&As and trade secrets. All named practitioners are based in New York, unless otherwise indicated.

With experts spread throughout the country, including particularly robust offerings in New York, Washington DC and California, Gibson, Dunn & Crutcher LLP is well-placed to defend public companies, from a range of industries, in federal and state court-related securities litigation, irrespective of geographical location. The scope of this work is eclectic, running the gamut from class actions, derivative suits, M&A litigation and corporate control contests, also frequently involving parallel SEC/DOJ probes (where the firm can tap into the expertise of numerous former agency insiders). Leveraging the firm’s broader market-leading Appellate and Constitutional law practice, the team is also well-placed to represent clients in the Circuit Courts, as well as on occasion before the Supreme Court, in turn shaping the securities litigation landscape for companies, officers, and directors at large. San Francisco-based Brian Lutz is often at the forefront of the highest-profile and consequential cases handled by the firm, including class actions and shareholder derivative actions, as well as work at a board level with regard to corporate governance issues. Monica Loseman and Craig Varnen co-head the team alongside Lutz, with Denver-based Loseman guiding corporates through SEC and DOJ probes and private litigation matters, and Los Angeles-based Varnen skilled at handling securities fraud litigation as well as derivative actions.

The ‘highly strategic, commercial, and efficient’ team at Kirkland & Ellis LLP provides formidable representation of corporates, private equity firms and individual officers across the panoply of securities class actions, shareholder derivative matters and M&A disputes. As well as handling its fair share of traditional 10-b 5 stock drop and IPO-related class actions, the team, which has a particularly pervasive presence on the East coast and Midwest of the country, has been at the vanguard of recent trends informing actions brought by the plaintiff bar, including with regard to ESG and SPACs. New York-based attorney Sandra Goldstein combines superb substantive legal knowledge with courtroom expertise and regularly prevails on behalf of defendant companies at both the trial and appellate court levels concerning dispositive motions, motions for preliminary injunctions and expedited discovery. Drawing upon vast expertise in private practice and as a high-ranking justice department official, Chicago-based Mark Filip is very skilled at guiding companies through DOJ probes, including with regard to potential securities fraud, and is skilled at handling parallel governmental investigations and private class action litigation. In New York, Stefan Atkinson has a broad-based securities litigation practice that includes a considerable amount of recent work arising in the aftermath of de-SPAC mergers.

Latham & Watkins LLP has the strength-in-depth to handle a range and volume of large-scale securities litigation class actions and shareholder derivative actions for companies, individual officers, underwriters and issuers. Many of these cases arise in the aftermath of IPOs, with the firm very skilled at representing issuers, in particular, in the context of strict liability Section 11 cases and Rule 10-b 5 cases. Splitting his time between New York and Washington DC, Andrew Clubok is a trial expert with extensive experience defending securities class actions and shareholder derivative lawsuits for many of the world’s biggest brands. As well as handling a considerable volume of issuer work (including on matters involving parallel SEC probes), New York-based Jason Hegt also regularly acts for accounting firms in securities class actions, as well as for financial institutions, often in cases involving complex and structured investment products. San Diego-based Colleen Smith also has vast experience in the field, and is one of only a handful of litigators in the country to have successfully defended a securities case at trial. Smith is also one of a raft of capable lawyers on the West Coast, others including Michele Johnson in Orange County and Silicon Valley-based Daniel Gherardi, that are skilled at defending hi-tech, life sciences and healthcare companies in securities litigation in the aftermath of an IPO. New York-based Blair Connelly co-heads the team alongside Smith and Clubok that also includes vastly experienced litigator Jeff Hammel.

Primarily based out of its New York headquarters, Paul, Weiss, Rifkind, Wharton & Garrison LLP's pre-eminent securities litigation offering combines subject matter mastery with strategic procedural and advocacy smarts to good effect for many household public companies and financial services entities caught in the cross-hairs of the plaintiff’s class action bar and in relation to parallel government enforcement actions. It draws upon a trial-ready approach which leverages the expertise of highly skilled advocates, including the vastly experienced Brad Karp and Daniel Kramer. Susanna M. Buergel has developed a particularly strong relationship among financial services clients, including for Citigroup – where she previously served as deputy general counsel – acting for the bank in litigation relating to its own trading activity, as well as often in disputes where they acted as underwriters on securities offerings. ‘Able to put his finger on just the right argument on behalf of his clients’, Andrew J. Ehrlich has exceptional trial skills which he utilizes to good effect across a range of securities litigation matters for public companies, as well as for private equity sponsors on securities and derivative litigation concerning their portfolio company investments. Audra Soloway co-heads the team alongside Ehrlich and Buergel, recently securing a notable high-profile victory before the SDNY for a gold mining company when the court denied class certification applying the legal standard for rebutting price impact in securities class actions articulated in the Supreme Court decision she helped secure for Goldman Sachs several years prior.

Leveraging a deep bench of trial and appellate lawyers, Simpson Thacher & Bartlett LLP is well-equipped to represent a myriad financial services entities and blue-chip corporates in big-ticket securities litigation/derivative shareholder matters, in many cases often also involving complex parallel government investigations/enforcements. The scope of the work is broad, including 10b-5 and section 11 cases, as well as M&A litigation and more general corporate governance-related disputes. Vastly experienced team head Jonathan Youngwood is as comfortable acting for large public companies (including within the media and entertainment field) facing down potentially financially ruinous securities fraud class action allegations and on ERISA stock drop litigation, as he is for underwriter banks in the aftermath of IPOs. As well as a vibrant securities litigation and derivative shareholder practice for corporates from a range of industry sectors, Craig Waldman also has tangential expertise regarding litigation arising from strategic and financial sponsor-led transactions. Lynn Neuner, who co-heads the overarching litigation group alongside Youngwood, is also a skilled trial lawyer, with many of her cases falling in the securities litigation ambit. Palo Alto-based Stephen Blake is also a highly proficient securities class action litigator (in relation to conventional public IPOs as well as with regard to SPACs), whose expertise not only covers private litigation but also overlapping SEC regulatory enforcement/investigations. All named practitioners are based in New York unless otherwise indicated.

Skadden, Arps, Slate, Meagher & Flom LLP provides an ‘outstanding’ service to an issuer-focused client base facing securities class actions. Team head Jay Kasner leads from the front, utilizing his vast experience in trial and appellate courts at federal and state level to good effect to secure victories for clients from a myriad of industry sectors. Alongside Susan Saltzstein, Kasner recently had a key role in persuading the court to dismiss a putative class action filed by investors against Hawaiian Electric Industries for stock losses suffered as a result of the recent devastating wildfires in Hawaii, a decision that underscores the significant challenges in bringing event-driven securities lawsuits. Palo Alto-based partner Mark Foster led the argument on the aforementioned matter, and since rejoining the firm in 2023 has been a key practitioner defending investor lawsuits brought in the Northern District of California. The firm is also noted for its cross-border capabilities, often working alongside US-qualified litigators in key global jurisdictions. In this regard, Scott Musoff and Robert Fumerton worked closely with the firm’s Hong Kong office to secure a string of recent successes for China-based securities issuers accused of violations of US securities laws. All named practitioners are based in New York unless otherwise indicated.

With a significant core securities capability, as well as being able to leverage the expertise of complementary strength in other key areas, including white-collar, employment law, life sciences regulatory and funds-related transactional work, Arnold & Porter provides a one-stop-shop service to clients across a myriad private securities litigation class actions, as well as accompanying regulatory probes, including in tightly regulated industry sectors. As well as handling core securities fraud matters (including 10-b 5 issues), often involving SEC agency involvement, the team, under the guidance of Veronica Callahan, has niche strength in relation to accountancy liability, most notably in the context of the heightened scrutiny placed on accounting firms in relation to public company auditing by the Public Company Accounting Oversight Board (PCAOB). Kathleen Reilly is also pivotal to the accountancy-related work, regularly assisting Callahan in PCAOB-initiated lawsuits, as well as excelling in enforcement actions brought by the SEC, DOJ and State Attorneys General. Callahan, Reilly and recently promoted Chicago-based partner Stephanna Szotkowski have also been very engaged on thought leadership and advising clients in relation to the recent consequential Supreme Court decisions handed down in Loper Bright and Jarkesy, with Loper Bright, in particular, going to the core of the previously longstanding presumption of agency precedence particularly where statutory authority appears ambiguous and in turn causing somewhat of a faultline to develop in the judicial landscape as federal courts have begun scrutinizing agency actions with increased rigor. Aaron Miner is also a key member of the team who regularly handles securities fraud class actions impacting life sciences and hi-tech companies, while out of Washington DC Christian Schultz and Daniel Hawke, both former SEC lawyers, are the key contacts. All named practitioners are located in New York unless otherwise indicated.

Displaying a ‘very collaborative approach’ among its core securities litigation lawyers at both an associate and partner level, as well as being able to leverage expertise across pivotal complementary areas of expertise, most notably with regard to white-collar and government investigations, Baker McKenzie LLP is able to provide a holistic service to defendants facing high-stakes securities class action and enforcement actions. Praised for his ‘exceptional understanding of the law, relevant legal theory and strategy development’, Los Angeles-based team head Perrie Weiner is pivotal to much of the most notable work it handles, including in niche areas relating to SPACs and cryptocurrency, and for individuals in SEC enforcement cases regarding alleged insider trading infractions. Also based out of Los Angeles, Aaron Goodman is ‘exceptional at explaining complex legal matters’, often working with Weiner on securities fraud cases involving alleged misstatements/omissions related to life sciences and technology companies. In Chicago, Peter Chan and Peter Tomczak are also key members of the team, with the former providing insight to clients facing SEC enforcement action by dint of his previous role at the regulator.

Drawing upon an ‘extremely deep bench of talented attorneys’ who have a ‘strong understanding’ of the technology and life sciences sectors, in particular, Cooley LLP is a very popular choice for companies in those domains facing securities class action cases. The team continues to regularly secure victories in pre-trial motions often before discovery, including for a global biotech company when the appellate court recently affirmed a prior lower court decision to dismiss a case on the basis that the plaintiffs failed to adequately plead a false or misleading statement. Palo Alto-based team head Patrick Gibbs was pivotal to this success and is regularly at the forefront of the highest-profile matters handled by the practice, including its ongoing representation of core firmwide client NVIDIA, which recently saw an important ruling handed down by the Supreme Court regarding the pleading standard for scienter. New York-based Sarah Lightdale was also involved in the aforementioned matter and is a key member of the team that includes San Diego-based Koji Fukumura, who is highly skilled at representing life sciences companies, in particular, accused of securities fraud.

Drawing upon the expertise of some ‘extremely talented litigators’, the ‘highly experienced’ New York-based team at Debevoise & Plimpton LLP has a strong reputation defending corporates, and officers and directors,  before federal and state courts, against allegations of securities fraud, including in relatively untested areas involving cryptocurrencies. In this context, the team is effective at handling multipronged, high-stakes matters including simultaneous stock-drop class actions, shareholder derivative litigation and regulatory investigations. Recognized as ‘a relentless advocate and powerhouse’, Maeve O’Connor has a strong reputation in the field, including on behalf of special committees with regard to derivative shareholder litigation. Elliot Greenfield excels at handling matters at the intersection of securities law and fintech, and has been pivotal to the firm’s increased visibility with regard to cryptocurrency matters. Susan Reagan Gittes is ‘coming into her own’, including in relation to work cutting across insurance and securities litigation, and on derivative shareholder matters. Washington DC-based practitioner Jonathan Tuttle co-heads the team alongside O’Connor. All named practitioners are based in New York, unless otherwise stated.

With a strong presence on both coasts, Dechert LLP has the strength-in-depth to handle a significant range and volume of complex private securities class actions and derivative shareholder actions. Team head Joni Jacobsen is often at the forefront of the most significant securities disputes for publicly-traded companies from a myriad sectors, frequently successfully guiding them through multipronged private litigation class actions, and associated regulatory investigations/enforcement actions. Angela Liu is a skilled practitioner in securities fraud litigation class actions for US and China-based companies, work which she also combines with a broader skill set which encompasses corporate governance and M&A litigation. Drawing upon the firm’s broader institutional knowledge of the asset management industry, many in the team are well-versed at defending private equity (and their portfolio companies), hedge funds and investment advisers against securities fraud allegations. In this regard, David Kotler recently defended an investment adviser against allegations of breaching their fiduciary duties following a decline in the price of a mutual fund it was managing. Corporate governance litigation partner Richard Horvath and securities/antitrust partner Josh Hess are the key contacts in San Francisco. All practitioners are located in New York unless otherwise indicated. David Kistenbroker recently retired.

The ‘very talented’ team at Freshfields is ‘excellent at resolving cases’ at the pleadings stage for clients before the state and federal courts, often disposing of matters through a motion to dismiss or defeating class certification. Consequently, the team has gained a justifiably very strong reputation among many large corporates seeking representation on big-ticket class actions, including those involving issues of first impression. Noted for her ability to ‘quickly absorb and synthesize highly technical concepts’, New York-based Meredith Kotler often defends life sciences companies on investor class actions brought in the aftermath of alleged mis-statements/omissions regarding new patents and clinical trials. In addition, she is very skilled at defending boards of directors in derivative shareholder suits brought before the Delaware Court of Chancery. Located in New York, Mary Eaton co-heads the team alongside Kotler, and has a broad practice that sees her representing issuers and corporate boards on class actions and derivative claims, including on SPAC and COVID-related matters. In Silicon Valley, the vastly experienced Boris Feldman is ‘a strategic thinker’ noted, in particular, for his high-profile defense of major TMT clients, including Alphabet, facing securities class actions and derivative lawsuits.

Leveraging ‘good team chemistry’ across its New York and Washington DC offices, Fried, Frank, Harris, Shriver & Jacobson LLP defends companies and financial institutions in litigation relating to corporate disclosures/omissions, as well as shareholder class actions emanating from disputed merger transactions.  Drawing upon ‘deep experience and good judgment’ as a result of many years’ experience in the market, New York-based Scott Luftglass has gained the trust of many public company clients, advising them both from a risk management/ corporate governance perspective, and in any subsequent litigation which may ensue – often before the Delaware Court of Chancery. New York-based Peter Simmons, who co-heads the team alongside Luftglass, is skilled at representing private equity firms and public companies, as well as banks, including in their role as underwriters of subsequently scrutinized IPOs and M&A transactions.

Drawing upon deep industry knowledge in core firmwide areas of sector strength, Goodwin is very effective at representing life sciences, tech, real estate and financial services clients in securities litigation and derivative actions in state and federal cases throughout the country. Boston-based Deborah Birnbach has significant expertise handling both private litigation and regulatory investigations, regularly advising companies, as well as their directors and officers, in securities and shareholder litigation and corporate governance matters. In New York, Daniel Roeser has vast experience for an eclectic client base that includes public companies, executives and banks, in the defense of often cutting-edge securities litigation matters, including as it relates to SPACs, cryptocurrency and high frequency trading. Other key members of the team include New York based Douglas Flaum, who regularly handles complex securities litigation in the real estate sector, including for REITs; San Francisco-based Jonathan Shapiro, who is skilled at guiding tech-focused companies (including fintech entities) respond to securities class actions and government investigations and is a key member of the firm’s growing litigation presence in California; and in Boston, Caroline Bullerjahn, who is adept at defending biotech/life sciences companies in securities fraud litigation in courts throughout the country.

Led from New York by Henry Klehm and with vast geographical resources throughout the length and breadth of the country, Jones Day is well-placed to clients on big-ticket securities class actions, irrespective of geographical location. The ‘incredibly responsive’ team is also well-equipped to advise on standalone or parallel agency investigations/enforcement actions, with access to numerous former agency officials adding further credibility and insight to work in the space. Former senior SEC attorney, Dallas-based David Peavler is one such practitioner, with his arrival at the beginning of 2023 bolstering the practice, including in relation to work for energy companies subject to SEC regulatory scrutiny. Praised for his willingness to ‘think outside the box’, Cleveland-based Geoffrey Ritts is key to the firm’s success at helping companies and their officers and directors defend against claims of securities fraud and derivative shareholder actions, regularly achieving an early dismissal of cases under the heightened pleading standards laid out by the Private Securities Litigation Reform Act (PSLRA). Other key practitioners include ‘phenomenal’ San Francisco-based attorney John Tang, who has niche expertise defending Chinese companies against alleged US securities law violations; ‘capable and hardworking’ Atlanta-based attorney Mike McConnell; New York-based Nina Yadeva; and Marjorie Duffy, who excels at handling derivative actions before the Delaware Court of Chancery from her office in Columbus.

Led from Atlanta by the ‘tenacious, fact driven, intense and knowledgeable’ Jessica Corley and able to draw upon vast resources throughout the length and breadth of the country, the ‘top-notch’ business litigation team at King & Spalding LLP has ‘deep expertise and a strong track record’. New York-based trial lawyer Mark Kirsch has a significant history of courtroom successes over the years, including with regard to securities disputes. The ‘tenacious, aggressive and passionate’ Atlanta-based attorney Warren Pope is very focused on securities and derivative shareholder litigation cases for companies and directors and officers, including with regard to 10b-5 matters and stock drop cases. In Austin, Paul Bessette provides ‘accurate, concise and clear legal advice’ to companies and individuals facing securities and shareholder litigation, as well as in SEC investigations and enforcement actions.

Subsumed within the firm’s broad-based litigation and arbitration practice group, which is headed from New York by Alexander Lees, Milbank‘s securities litigation offering is very well-placed to represent issuers, underwriters, individuals and an increasing number of accountants to advise on core rule 10-b 5 and section 11 fraud-related claims. Much of the work also regularly involves parallel regulatory scrutiny, which the firm is well-placed to handle by virtue of having a number of former agency officials in its ranks, including New York-based Gurbir Grewal, whose arrival in January 2025 from the SEC follows on the heels of his former colleague at the agency Olivia Choe, who joined the Washington DC office in October 2024. The team is also adept at handling work on the outskirts of core securities litigation, including 40 Act matters and ERISA-related class actions regarding fiduciary breaches, both areas that the well-respected New York-based litigator Sean Murphy handles as part of his broad-based securities/shareholder defense practice. New York-based attorney Scott Edelman combines his duties as chairman of the firm with a strong litigation practice that sees him regularly handle securities litigation matters and derivative actions. Also located in New York, Jed Schwartz continues to develop a very strong securities practice, including for underwriters on statements made in offering documents accompanying IPOs and secondary offerings.

Able to leverage significant trial expertise and subject matter knowledge on both coasts, O'Melveny has a strong track record representing companies, and their officers and directors, in securities litigation class actions, as well as on derivative and fiduciary claims. The team is active for clients across a broad swathe of industry sectors, and has developed particular skill representing tech and media companies not just in alleged securities fraud and M&A-related litigation, but also from a risk management perspective – where it works closely with corporate, governance and securities lawyers in particular. Newport Beach-located partner Matthew Close is skilled at defending companies in securities class action suits, as well as helping clients extricate themselves from potentially highly reputationally damaging governmental/regulatory investigations. Out of Silicon Valley, Amy Park has been pivotal to the firm’s growing presence in Northern California since joining the firm in 2020, regularly advising both tech and life sciences clients in securities fraud matters. New York-based attorney Jonathan Rosenberg also handles issuer work, although he is best-known for his prowess at defending underwriters in Section 11 claims in the aftermath of IPOs; where he is able to leverage vast private practice experience as well as expertise gleaned through his time as Assistant US Attorney in the Southern District of New York. Meaghan VerGow from Washington DC co-heads the team alongside Close.

Able to deploy strong teams utilizing a ‘deep bench of attorneys at every level’, Vinson & Elkins LLP has ‘broad experience in litigating corporate governance, corporate law, and federal securities issues, as well as high-stakes M&A and commercial disputes’ for a mix of corporates, underwriters, private equity sponsors, and directors and officers. In Dallas, Michael Holmes handles many 10-b 5 and section 11 securities cases before the Texas courts, as well as being highly skilled in handling M&A-related breach of fiduciary cases in Delaware. Also based in Dallas, Craig Zieminski is also highly proficient at handling Delaware Chancery Court derivative matters and is noted for being an ‘excellent litigator with great courtroom presence’. The firm also has a lot of emerging talent based in Texas, including Jeffrey Crough, who has a ‘brilliant legal mind’; recently promoted partner Robert Ritchie, who is ‘a great mind for corporate governance and expedited litigation’; and ‘thoughtful and clear thinker’ Meredith Lyons. The arrival in September 2024 of both Jason Halper and Sara Brauerman from Cadwalader, Wickersham & Taft LLP was a major boon for the practice, substantially enhancing its New York securities litigation offering. ‘Smart and creative’ San Francisco-based attorney Michael Charlson co-heads the team alongside Zieminski.

Wachtell, Lipton, Rosen & Katz is extremely visible in relation to derivative shareholder litigation and has a long history in the practice area. William Savitt is at the forefront of many of the highest-profile mandates handled by the team, achieving a myriad successes for clients in high-stakes M&A and shareholder derivative litigation, including before the Delaware Court of Chancery. Savitt’s work also touches on securities litigation matters, including those with consequential and potentially precedent-setting implications. Ryan McLeod is very adept at handling M&A litigation, while Jonathan Moses, who co-heads the overarching litigation team alongside Savitt, has a broad-based offering that includes a significant amount of M&A and securities litigation.

Often closely integrated with the firm’s market-leading corporate transactional team, Weil, Gotshal & Manges LLP‘s East Coast-focused practice is perhaps best-known for its work handling securities litigation and corporate governance matters arising out of high-profile M&A matters. In this context, the firm is highly skilled at providing effective risk management strategies, as well as regularly achieving victories at a pleading stage, including its recent high-profile victory for Warner Brothers when it persuaded the lower court and subsequently the Circuit Court to dismiss a massive putative Section 11 securities class action litigation following the $43bn merger between Warner Media and Discovery Inc. Caroline Zalka led on this matter, also spearheading a notable ongoing case for a venture capital company focused on the digital currency market in a bellwether case determining whether crypto assets should be classified as securities and therefore subject to SEC oversight. John Neuwirth, who co-heads the team alongside Zalka, is ‘incredibly meticulous in his preparation’, ensuring that he achieves favorable results for clients, including his recent work alongside Joshua Amsel, who has a ‘gifted courtroom presence’, for long-time client AMC Entertainment in fast-tracked stockholder litigation in Delaware Chancery Court arising from its planned overhaul of its capital structure. In Washington DC, Robert Stern is also a valuable resource to clients in light of his private securities litigation capabilities as well as his ability to guide clients in government regulatory investigations/enforcement actions. The arrival at the beginning of 2025 of former high-ranking SEC lawyers Sanjay Wadhwa and Andrew Dean is a major boost for the practice, particularly in the context of agency-led enforcement actions. All named practitioners are based in New York unless otherwise indicated.

Washington DC-based litigation powerhouse Williams & Connolly LLP provides a robust defense to public companies, and directors and officers against allegations of securities fraud, as well as in derivative shareholder actions. Notably, the firm recently successfully secured a motion to dismiss for private equity sponsor Silver Lake, one of the defendants in a high-profile putative securities class action relating to alleged insider knowledge prior to sales of stock it had in a former portfolio company Intelsat. Steven Farina and Amanda MacDonald were key to this success, with Farina also recently securing a series of important victories before the Delaware Court of Chancery and the Delaware Supreme Court for nCino, in a derivative lawsuit challenging the company’s acquisition of mortgage loan platform SimpleNexus. Leveraging ‘tremendous litigation experience’, John Williams displays ‘superb judgment’ for energy and healthcare clients, in particular, in securities litigation matters. Highly accomplished trial lawyer Robert Van Kirk, who co-heads the team alongside Farina and MacDonald, also maintains a vibrant securities litigation practice and is active in federal and state trial and appellate courts throughout the country.

‘Relentless strategists, creative problem-solvers, and fierce advocates’, Willkie Farr & Gallagher LLP has achieved a strong reputation among clients for its ‘mastery of the art of winning’ in securities litigation and derivative shareholder actions in trial, state and appellate courts throughout the country. Lauded by one client as ‘one of the greatest legal minds and securities litigators of his generation’, litigation chair Tariq Mundiya has an ‘ability to balance legal strategy with business practicality’, ensuring he is a very popular choice to represent clients when faced with high-stakes matters. Todd Cosenza is central to much of the team’s success on behalf of both corporates and banks when faced with securities class actions in the aftermath of stock drop prices following IPOs, and co-heads the securities litigation offering alongside Antonio Yanez. Chicago-based Craig Martin is also recommended. All named practitioners are located in New York, unless otherwise indicated.

In addition to covering conventional securities defense and shareholder derivative actions for public companies and their directors and officers, Akin is perhaps best known for its work on behalf of funds and investment advisers. In this context, investment fund litigation head Douglas Rappaport regularly advises hedge funds seeking to effect change through shareholder activism, as well as often defending them in securities-related cases, including with regard to short-swing trading litigation and insider trading. Stephen Baldini has strong connections among private equity sponsors and hedge funds, regularly defending them in securities fraud disputes as part of his broad business litigation offering  Dallas-based Scott Barnard is focused on issuer-side securities fraud matters, including those involving parallel SEC enforcement actions; he has developed particular skill advising distressed companies in ancillary securities proceedings and counseling public energy companies and energy master limited partnerships in securities suits in Delaware and Texas. Contentious restructuring lawyer Joseph Sorkin co-heads the team alongside Barnard and Rappaport. All named practitioners are based in New York unless otherwise noted.

Primarily centered from its Texas heartland, the ‘hardworking and very experienced’ team at Baker Botts L.L.P. has a strong reputation defending corporates, and directors and officers, facing a wide range of securities fraud and shareholder derivative cases. While the team regularly secures success at a motion to dismiss stage, leveraging the expertise of a number of first-rate trial advocates it is also willing and able to try cases, of particular benefit given the overall uptick in opt-out cases in state courts. Although by no means limited to work in the sector, the firm’s overarching prowess in the energy space accounts for a significant proportion of the mandates, including for the ‘very impressive’ David Sterling, who is leading on a number of 10b-5 class actions brought against the likes of Apache and Concho Resources. Amy Hefley is also very active within the energy sector, and alongside Sterling and Dallas-based John Lawrence, recently secured a notable class certification win for Apache against allegations that it made misleading statements about the company’s large oil and gas resource in the Permian Basin. Danny David, who co-heads the team alongside Hefley and Washington DC-based Bridget Moore, is also a key member of the team, combining his duties as managing partner with a vibrant fee-earning practice. All named practitioners are based in Houston unless otherwise indicated.

Cadwalader, Wickersham & Taft LLP‘s New York-based team is well-versed at handling securities class action matters and shareholder derivative litigation for public companies, and their directors and officers, in courts throughout the country. In this context, the team is also able to advise on parallel regulatory investigations, as well as being adept at providing risk management advice. Another strength is its ability to work closely with other practice groups, most notably capital markets, derivatives and financial services regulatory, of particular benefit to clients engaged in securities matters involving complex financial products. Ellen Holloman is pivotal to many of the highest-profile cases the team handles, including for Nikola Motors on securities litigation following a de-SPAC procedure. Jonathan Watkins, who splits his time between New York and Charlotte, co-heads the team alongside Holloman and excels in representing public and private businesses and financial institutions in complex litigation and regulatory and white-collar investigations. White-collar defense and investigations specialist Kenneth Breen and seasoned trial lawyer Phara Guberman are also pivotal to the team’s success, as is Philip Khinda, who heads up the firm’s SEC enforcement and crisis management practices.

Led from New York by Sandra Hauser and also aided by a strong cadre of litigators in key locations, including Washington DC and Chicago, Dentons is well-placed to defend companies accused of a myriad of securities fraud activity relating to misstatements/omissions as well as in the context of market manipulation allegations. Douglas Henkin is very skilled at defending banks as underwriters in securities fraud matters, as well as handling work for cryptocurrency and fintech companies, and for market infrastructure institutions in market manipulation cases – including his past success for the NYSE as one of the defendants in a high-profile high-frequency trading lawsuit. Leveraging the insight and experience of a number of former federal prosecutors, including Tony Pellegrino who joined the firm in August 2023 following a long stint as Assistant US attorney at the SDNY, the team also excels in guiding clients through regulatory enforcement actions, including those brought by the SEC. Vastly experienced Washington DC-based partner Kenneth Pfaehler is highly skilled at defending clients in securities fraud and disclosure litigation, derivative and other stockholder claims and corporate control and governance disputes. In Chicago, Stephen Senderowitz is also a vital member of the team in light of his work for financial services clients in regulatory probes and private litigation with regard to a myriad alleged fraudulent behavior including spoofing, insider trading. Senderowitz was also a key member of the team that prevailed for the NYSE in relation to the high-frequency trading class action.

Co-headed from New York and Los Angeles by John Clarke and Melanie Walker, respectively, DLA Piper LLP (US)‘ securities litigation offering acts on its own as well as frequently alongside lawyers from complementary firmwide practice areas, including corporate, regulatory, and white-collar, to provide a holistic service to corporates and their directors and officers, defending against private securities class actions, derivative shareholder actions and parallel agency investigations. Although the team has a fairly broad sector offering, it is particular active representing life sciences, financial services and tech clients, with Clarke recently securing a number of notable victories for global life sciences company, Bristol-Myers Squibb, in litigation concerning a series of publicly traded contingent value rights which became worthless upon failing to receive FDA approval for a milestone drug in time. Walker’s broad-ranging litigation practice includes accountant’s liability cases, while on the core securities litigation front she has recently handled a number of high-profile de-SPAC cases. Seasoned trial and appellate lawyer John Hillebrecht in New York and Dallas-based former SEC attorney Jason Lewis are also key contacts.

Katten is a popular choice among financial institutions, asset managers, public companies and their executives, in the defense of a wide range of securities class actions, stockholder derivatives cases, M&A litigation, proxy disclosure suits and SEC investigations and enforcement actions. The life sciences sector remains a fertile source of work, with New York-based Bruce Vanyo regularly defending high-profile sector specific issuers, including with regard to cases brought following alleged misstatements (including with regard to clinical trials) and subsequent stock price drops. Chicago-based Michael Diver co-chairs the team alongside Vanyo and leverages his previous experience at the SEC to good effect to clients facing enforcement actions from the regulator, including with regard to financial fraud, market manipulation and insider trading. The arrival in March 2024 of New York-based Kevin Broughel from Paul Hastings LLP strengthens the team in light of his deep understanding of the financial markets, products and regulations, and for matters involving cross-border issues.

The ‘very responsive’ team at Mayer Brown International LLP provides ‘high-quality’ advice to companies and executives in relation to private securities class and derivative shareholder disputes. It is also very skilled at representing clients in high-stakes government facing matters, including its ongoing work for former executives of Silicon Valley Bank following its collapse. New York-based attorney Joseph De Simone is leading on this matter. In Los Angeles, Glenn Vanzura, who co-heads the team alongside De Simone, is noted for his ability ‘to explain and convey complex legal concepts in a digestible manner’, ensuring that he is highly skilled at handling securities class actions and regulatory investigations/enforcements in often very technical industry sectors. Houston based Jackie Vallette has a strong grounding in securities matters, advising clients in private litigation and regulatory investigations, as well as from a risk management perspective. As part of a broad skill set, Vallette has developed niche expertise counselling public companies on their potential litigation risk (and mitigation thereof) with regard to ESG disclosures.

With a strong presence on the East Coast presence and from its Chicago headquarters, McDermott Will & Schulte is seen with increased regularity defending companies, financial institutions, as well as directors and officers, on some big-ticket securities fraud class actions, derivative shareholder cases, and regulatory enforcements/investigations. Joel Haims has a wide-ranging practice, which as well as issuer work and M&A litigation, also sees him involved in accountancy-related matters, including for BDO which he is defending in an ongoing 10b-5 class action arising out of a de-SPAC transaction. David Momborquette is skilled at handling a mix of private and government-initiated regulatory securities matters, including work on behalf of hedge and private equity funds. In Chicago, Steven Scholes, who formerly served as an attorney in the SEC, has vast experience in securities class and derivative actions, including cases alleging accounting irregularities, illegal trading, and breaches of fiduciary duty. Timothy Hoeffner co-heads the team alongside Scholes and Momborquette. All named practitioners are based in New York unless otherwise indicated.

Morgan, Lewis & Bockius LLP has a strong reputation defending corporates, banks and officers/directors in securities class actions, where as well as frequently achieving notable successes at a pleadings stage, is also well regarded for taking cases to trial. Splitting his time between Hartford and Boston, Michael Blanchard‘s corporate governance litigation practice includes counselling in the boardroom and advocacy in the courtroom, with a focus on all facets of stockholder litigation: books and records demands, derivative litigation, public and private mergers & acquisitions. San Francisco-based attorney Chuck Shimada regularly advises underwriter banks as defendants on securities class action litigation for alleged mis-statements/omissions in offering documents with regard to IPOs. Philadelphia-based Michael Kichline has a strong reputation among D&O insurance providers. Splitting his time between Philadelphia and Washington DC, Jeffrey Boujoukos heads up the securities enforcement and litigation.

 

Drawing upon the firm’s ‘culture of excellence and teamwork’, Morrison Foerster‘s bi-coastal team provides a very unified approach to corporates and executives (bringing in complementary areas of expertise if necessary), from a range of industry sectors facing down high-stakes securities law class actions and derivative actions. The team is also highly skilled at helping clients navigate their way through government investigations/enforcement actions, where it is able to call upon the expertise of numerous former high-ranking SEC officials, including Michael Birnbaum and Haimavathi Marlier in New York. For private litigation, San Francisco-based Jordan Eth has an impressive track record defending public companies, and their officers and directors, including those within the tech and life sciences sectors. Also based out of the firm’s San Francisco headquarters, Anna Erickson White is, along with up-and-coming partner and team co-head Ryan Keats, appreciated for her ability to ‘cut to the chase’ and ‘deliver results’, both in a litigation setting, as well as for a risk management perspective for boards and management. Washington DC-based James Koukios adds credibility on matters with a white-collar component by virtue of his former high-ranking position at the DOJ. Jamie Levitt co-heads the team alongside Keats.

Based primarily in California, with broader commercial litigation resources in New York, Orrick, Herrington & Sutcliffe is seen as a destination practice for clients seeking a strong defense in securities class actions and derivative shareholder litigation in courts throughout the country. The technology sector remains a fertile source of work, as exemplified by its ongoing securities class action and parallel shareholder derivative action litigation for Apple in a case stemming from claims that the tech giant misled investors about weakening demand for iPhones in China in 2019. San Francisco-based litigators James Kramer and Alex Talarides are leading on this matter, with the duo also frequently pairing up on other major matters within the tech sector, as well as in relation to Section 11 claims against banks. Los Angeles-based team head Paul Rugani, who is adept at handling both private securities litigation and government enforcement/investigations, is noted, in particular, for his work in the financial services sector, including his ongoing representation for Credit Suisse in the remaining litigation relating to its legacy RMBS business.

With strong nationwide coverage, particularly on the East and West Coasts, and also regularly leveraging other key complementary practice groups, including white-collar, complex litigation and corporate, Paul Hastings LLP is well-positioned to provide a comprehensive service to clients across a wide range of securities fraud class actions and associated regulatory probes. As well as handling its fair share of work for public companies on the issuer side, the team, which is led from New York by Jennifer Conn, has strong traction among many banks, including Goldman Sachs, JP Morgan and Credit Suisse, regularly acting for them in fraud allegations in the context of their role as underwriters on securities issuances and M&A transactions. New York-based Barry Sher is also very well-liked by defendant banks, handling a myriad of general commercial litigation, antitrust, and securities litigation. Leveraging experience both in private practice and in-house for the SEC, Washington DC-based attorney Brad Bondi has vast experience across a myriad securities fraud issues, including as it relates to insider trading and short selling. Scott Carlton in Los Angeles, who has a strong grounding in securities law matters, including those relating to relatively novel areas including crypto and ESG; Palo Alto-based Edward Han, who is skilled at handling private and government-initiated securities cases; and San Francisco-based former SEC enforcement attorney Kenneth Herzinger are all key contacts of the firm’s strong West Coast offering.

Drawing upon a deep bench of seasoned trial lawyers and ex-SEC lawyers throughout the firm’s nationwide patchwork of offices, Sidley Austin LLP is well-positioned to represent an issuer-focused client base in securities class actions and regulatory investigations/enforcements in state and federal courts throughout the country. The firm’s expertise also extends to M&A disputes and corporate governance matters litigated in the Delaware Court of Chancery, work which also includes a considerable amount of shareholder activism matters. New York-based partner Alex Kaplan is as comfortable handling complex securities disputes for broker-dealers and funds as for public companies in 10b-5 securities fraud and corporate governance shareholder derivative disputes. The team is active for clients across a range of industry sectors, and has particular strength in the life sciences space. The ‘very talented’ Chicago-based partners Jim Ducayet and Hille Sheppard are noted for their expertise at handling both securities-related private litigation and regulatory investigations (as well as derivative shareholder matters, including Sheppard’s particular skill in relation to dealing with special committee investigations). They both co-head the national team alongside Yolanda Garcia in Dallas, Sara Brody from San Francisco, and Andrew Stern from New York.

With securities litigation forming a key part of the firm’s nationwide commercial litigation group – which spans the length and breadth of the country – and also able to leverage skilled resources from the firm’s accomplished white-collar team, led from New York by the ‘exceptionally strategic’ Joel Cohen, White & Case LLP is well-positioned to provide a comprehensive defense to an issuer-focused client base in private securities fraud matters and government-led investigations/enforcements. A considerable number of these cases are for foreign companies, an area in which Washington DC-based Christopher Curran is particularly skilled, with recent work for two major Japanese companies in separate class actions brought by purchasers of ADS/ADR securities. In New York Kim Havlin also acts on behalf of foreign clients subject to alleged US securities law violations, including acting for the Public Investment Fund of the Kingdom of Saudi Arabia in relation to securities class actions, and shareholder derivative litigation related to Uber’s IPO. New York-based Glenn Kurtz is another key name for cross-border securities litigation, and co-heads the overarching commercial litigation team alongside Dave Hille and Jim Robinson. The team was also strengthened in March 2025 by the arrival of seasoned litigator Jonathan Polkes from Weil, Gotshal & Manges LLP.

The team at Winston & Strawn LLP provides a credible threat to a well-resourced Plaintiff Bar, regularly securing early victories at a pleadings stage, as well as achieving favorable settlements, including on the eve of trials. The team, which is led from New York by James Smith, also stands out for its collaborative approach, frequently drawing upon key resources from complementary areas, including M&A, capital markets and white-collar, to best serve a client base that includes some high-profile public companies, financial institutions, and asset managers. Los Angeles-based attorney John Schreiber has experience in matters relating to securities fraud, including in the federal courts and the Delaware Court of Chancery. As part of his broad-ranging aptitude at handling business disputes, Chicago-based trial lawyer William O’Neil regularly advises public companies and private equity sponsors on securities matters, most frequently in the context of M&A disputes. In Los Angeles, Jeffrey Steinfeld is particularly skilled at handling work at the intersection of securities and fintech, including his representation for interested parties as amicus curiae in an important case relating to whether or not digital assets are considered to be securities.

With a core group of New York-based securities litigators as well as being able to draw upon the expertise of practitioners with broader commercial litigation and government enforcement experience, BakerHostetler has the resources and skill to robustly defend public companies, and their directors and officers, across a wide range of class action fraud cases, M&A disputes and breach of fiduciary matters. Under the guidance of the very experienced Douglas Greene, the team, which also has deep relationships with D&O insurance providers, has developed a strong reputation for working up cases, providing judges with the full context of, for example, the alleged mis-statement made by a public company in its offering documents. Greene is one of a number at the firm with skill at handling cases in state and federal courts throughout the country, as is Genevieve York-Erwin, who is particularly adept at representing clinical-stage biotech companies in securities matters. Recently promoted partner Zach Taylor and Cleveland-based Douglas Shively are also key members of the team, particularly in the context of derivative shareholder and corporate governance-related litigation. All named practitioners are based in New York, unless otherwise indicated.

New York-based boutique Cohen & Gresser LLP has a strong reputation advising companies, including those within the financial services sector, facing down private securities fraud allegations, as well as in the parallel regulatory probes. Much of the work is at the intersection of securities litigation and white-collar criminal law, with the team very well suited to handling high-stakes cases for executives, in particular. Leveraging skills gleaned in private practice and during his time as a federal prosecutor, Mark Cohen is recognized as a formidable adversary in the courtroom who has, over his many years’ in practice, tried many cases to verdict, including on behalf of a former hedge fund analyst in an insider trading case. He recently also gained considerable media attention for his high-profile work for Samuel Bankman-Fried, the founder and former CEO of international cryptocurrency exchange FTX. David Lisner continues to represent the co-founder and former CEO of Talkspace, in high-stakes securities class action and shareholder derivative litigation stemming from disclosures surrounding Talkspace’s de-SPAC business combination and its 2021 public listing. Lawrence Gresser co-heads the team alongside Cohen and regularly handles securities class actions, including those involving 10-b 5 and insider trading allegations.

With its roots in Silicon Valley and across California, Fenwick & West LLP is most visible representing companies and directors and officers in the tech and life sciences sectors in relation to securities class actions and derivative cases. In San Francisco, Dean Kristy is skilled at defending tech companies in federal and state courts throughout the country, including the Delaware Court of Chancery, where Kristy frequently appears in relation to derivative shareholder and corporate governance disputes. Catherine Kevane is also very adept at defending hi-tech companies, including those involving challenging parallel civil and regulatory actions relating to inter alia bribery and corruption, insider trading and scientific fraud. Silicon Valley-based litigators Jay Pomerantz and Michael Dicke are also pivotal to the team’s success, with Dickie particularly noted for his aptitude at handling SEC enforcement matters. Felix Lee co-heads the team alongside Kristy.

With excellent coverage throughout the country, including a particularly strong concentration of lawyers in Florida, California, and New York, Greenberg Traurig‘s ‘highly responsive team works seamlessly together’ to provide ‘very pragmatic’ advice to clients in the defense of securities class actions, derivative lawsuits, SEC investigations and enforcement actions, irrespective of geographical location. The team also frequently works closely with lawyers in the White-Collar Defense and Investigations practice to better serve clients, including on matters which involve a parallel civil litigation and regulatory enforcement/investigation component. New York-based Robert Horowitz has a strong reputation in the market with a versatile practice that services the securities defense needs of issuers, officers and directors, underwriters and investment advisers, whether subject to private litigation or SEC probes. The team also has niche expertise handling broker-dealer-related securities litigation matters, an area that New York-based partner William Briendel is particularly skilled. Florida-based Brad Kaufman and Tracy Gerber and California’s Daniel Tyukody co-head the team alongside Horowitz and Briendel.

Although it does handle some work for smaller corporates/financial institutions, New York-based litigation boutique Hecker Fink LLP has forged a particularly strong reputation defending individuals against high-stakes alleged white-collar infractions and on regulatory investigations. In this context the team, under the expert leadership of Sean Hecker, is recognized for its advocacy skills, and although it also handles cases from their inception, the team is often frequently parachuted in on the eve of a trial. Clients also benefit from access to numerous former federal prosecutors, including Jenna Dabbs and Michael Ferrara, who both add critical insights to enforcement actions/investigations initiated by regulatory authorities.

Based out of its New York office, Hughes Hubbard & Reed LLP is adept at defending public and private companies, and their directors and officers, across a wide array of securities fraud matters, from both a civil and criminal perspective. Shahzeb Lari is well-versed in handling securities class action litigation, including for financial services clients, as well as also excelling in M&A litigation before the Chancery Court of Delaware. Marc Weinstein co-heads the team alongside Lari, leveraging the insight he gained as a federal prosecutor to good effect, including to clients engaged in parallel DOJ and SEC criminal and civil proceedings. Other key members of the team include William Maguire, who specializes in auditor liability cases and former SEC enforcement alumnus Terence Healy.

With a strong offering on East and West coasts, including many experienced trial lawyers and former federal prosecutors, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. is well-positioned to provide a robust defense to an issuer-focused client base across a wide range of securities fraud and shareholder derivative actions, as well as in accompanying regulatory investigations/enforcement actions. Leveraging the skills gleaned through private practice and during his tenure in-house at the SEC, San Francisco-based partner Sean Prosser provides a very adaptable service to companies both in relation to private litigation, as well as standalone and accompanying regulatory probes. Prosser also regularly acts for executives accused of securities law fraud, including Section 16 short-swing violations, as well as for directors and officers in shareholder derivative litigation before the Delaware Court of Chancery. Boston-based Jack Sylvia has a particularly strong reputation representing life sciences/biotech companies facing down securities fraud class actions and co-heads the team alongside seasoned first-chair New York-based litigator Douglas Baumstein.

Although it handles some work for entities, New York-based litigation boutique Morvillo Abramowitz Grand Iason & Anello P.C. is best-known for its strength in providing a robust defense to individuals subject to criminal and civil charges brought by regulatory agencies. Many of these defendants work within the financial services sector, and as well as the firm’s trial-ready approach, it is its lawyers’ deep knowledge of complex financial laws and transactions which are standout features. Drawing upon a wealth of experience in private practice and during his tenure as a federal prosecutor, the ‘outstanding’ Christopher Harwood is very skilled at helping defendants extricate themselves from potentially reputationally ruinous financial/securities fraud cases often including criminal exposure. ‘Master strategist’ Karen King is also recommended, as are vastly experienced litigators Elkan Abramowitz; Robert Anello and Edward Spiro.

Primarily centered out of its Texas offices, Norton Rose Fulbright defends companies in courts throughout the country against allegations of securities fraud, as well as regularly providing corporate governance risk management advice to boards of directors and handling securities law-related internal investigations work. Many of the mandates occur within firmwide areas of sector expertise, including energy, life sciences, and financial services, with experienced Austin-based litigator Peter Stokes regularly engaged in 10-b 5 defense work in those industry sectors. In Austin, Mark Oakes is also highly skilled at handling private securities litigation as well as SEC-initiated investigations/enforcements. Oakes co-heads the team alongside New York-based Sandeep Savla, who brings both significant private practice and in-house expertise (through his time spent at an investment bank) to bear on civil and white-collar matters relating to securities and other financial products.

Led on the enforcement front by ‘outstanding’ New York-based partner Joshua Newville and for private litigation by Timothy Mungovan in Boston, Proskauer Rose LLP is well-equipped to represent clients across a myriad securities fraud cases, including class actions and civil and criminal governmental probes. Newville, who is particularly skilled at representing private fund clients in SEC enforcement investigations and other regulatory matters, is one of several ex-regulatory officials within the team, another being Washington DC-based Robert Pommer, who is noted for his ‘thorough yet practical advice’. In Los Angeles, Stephen Hibbard has ‘excellent judgment and deep substantive legal knowledge’, which he deploys to good effect for companies, financial institutions and individuals in the defense of securities class actions and derivative shareholder litigation. Kevin Abikoff, who joined the Washington DC office from Hughes Hubbard & Reed LLP in June 2024, strengthens the team’s offering in light of his wide-ranging securities, white-collar criminal litigation and enforcement skills.

Litigation heavyweight Quinn Emanuel Urquhart & Sullivan, LLP is well-placed to provide excellent insight to defendant companies in securities class actions. The team integrates trial and appellate specialists at an early stage of the litigation life-cycle, ensuring that it is well-equipped for both trial or appeals, should they arise. This approach notably helped secure a high-profile victory in a rare securities jury trial (subsequently affirmed on appeal) on behalf of Tesla and Elon Musk. New York-based practitioners Andrew Rossman and the ‘incredibly smart’ Jesse Bernstein had a pivotal involvement in the aforementioned case, with Rossman also noted for his broader M&A litigation expertise. The firm’s Los Angeles headquarters also houses numerous high-profile securities litigators, including team head Harry Olivar and the ‘exceptional’ Brian Timmons, who is particularly skilled at handling cases involving private investment funds. Michael Swartz joined the team in March 2025 from McDermott Will & Schulte.

The New York-based team at McDermott Will & Schulte has some niche areas of focus in the market, including shareholder activism for its hedge fund client base. An area of focus for up-and-coming partner Randall Adams relates to the defense of Section 16(b) actions seeking disgorgement of alleged short-swing trading profits from investment advisers and the funds they manage. Julie Beskin is also a key member of the team and has particular expertise handling litigation in the Delaware Court of Chancery. Michael Swartz departed the team in March 2025.

Led by William Prickett, Seyfarth Shaw LLP‘s growing New York-based practice regularly defends corporates, directors and officers, and financial services entities facing private class actions and regulatory enforcement actions, as well as in derivative shareholder litigation. Vincent Sama, a securities-focused litigator, has deep experience handling state and federal cases in courts throughout the country, and is equally as comfortable handling private litigation aspects as regulatory investigations. Senior counsel Gregory Markel has excellent relationships with D&O insurers. Markel's considerable securities law knowledge translates to work on class actions, involvement on corporate governance/fiduciary duty-related mandates, and from time to time his involvement as an expert witness in securities litigation.

Led from its Philadelphia headquarters by David Axelrod and with a team in Wilmington focused on handling matters before the Delaware Chancery Court, Ballard Spahr LLP is well-placed to represent companies and their officers and directors on every type of securities and corporate governance claim – from derivative actions and regulatory or internal investigations to special committee representations and significant shareholder class actions. Benefiting from a strong track record in private practice as well as during his time at the SEC and before that as a federal prosecutor, Axelrod has a rounded practice that sees him regularly engaged in both securities private class actions as well as in the context of government-initiated enforcement actions. As part of Norman Goldberger‘s multi-faceted offering, he regularly handles securities-related matters, including defending issuers in relation to rule 10-b 5 and Section 11 claims. Wilmington-based David Margules is also a key member of the team, particularly in the context of handling Delaware-related business disputes, including corporate governance and fiduciary duty matters.

Strengthened by the arrival in January 2024 of Renee Zaytsev from Thompson Hine LLP, New York-based litigation boutique Boies Schiller Flexner LLP is increasingly visible handling securities defense matters for companies, work which it handles alongside a relatively strong plaintiff presence. This versatility on both sides of the “v” also enables the firm to effectively react and to foresee tactics used by the other side, ensuring that it is well-equipped to provide a very robust defense to both companies and individuals in private actions and government-initiated actions. On the defense front, ‘brilliant strategist and litigator’ Matthew Schwartz is very effective at representing individuals in civil and criminal investigations into securities law malfeasance, fee-earning work which he combines alongside his managerial duties as newly appointed firm chairman. Zaytsev co-heads the team alongside former federal prosecutor John Zach.

Centered from its Texas-based offices, Bracewell LLP is particularly skilled at defending energy companies, as well as their officers and directors, in securities class actions, derivative shareholder actions and regulatory investigations. Here the team, which is headed from Houston by Tony Visage, works in a very synergistic manner alongside transactional lawyers (who add extra insight into underlying securities matters), as well as white-collar/investigations lawyers – particularly as it relates to regulatory enforcement aspects. In Austin, Stephen Benesh is National Banking Association’s “go-to” national counsel for securities cases relating to the bank’s oil and gas royalty trust business.

Leveraging the expertise of lawyers with exposure to both defendant and plaintiff-side work, New York-based litigation-focused firm Kasowitz LLP has excellent insight into effective winning strategies, including in the defense of big-ticket issuer-side class action securities litigation. Sheron Korpus has a strong reputation in the field and continues to represent Teva Pharmaceuticals. Stephen Tountas, who has experience at defending public companies and senior officers, including in relation to accounting-related securities fraud, co-heads the team alongside Korpus. Michael Hanin has departed the firm.

Under the guidance of New York-based partner Michael Dell, Herbert Smith Freehills Kramer‘s primary focus within the securities field relates to accountants and auditors defense matters. In this space, Dell has excellent traction among the “Big four” accounting firms, regularly representing them in regulatory probes, including by the PCAOB and the SEC, with regard to alleged fraudulent activity in connection with public company audits. Leveraging the firm’s strong government investigations practice group that includes numerous former senior federal prosecutors, the team is also adept at handling white-collar civil, criminal and regulatory investigations and litigation, including as it relates to insider trading and market manipulation.

Single office New York-based litigation boutique Levine Lee LLP has, since it was founded in 2011, continued to gain market traction among companies and individuals facing down securities fraud allegations as a result of its trial-ready approach, strategic nous and substantive law knowledge. Kenneth Lee is highly experienced advising special committees in the context of shareholder derivative litigation. Seth Levine, who co-heads the team alongside Lee, has a stronger focus on individual representations (including for clients within the financial services industry) and is highly skilled assisting clients facing both civil and criminal liability, including with regard to SEC and DOJ probes into securities fraud and insider trading.

Based primarily from its Washington DC office, Linklaters LLP‘s main focus in the securities litigation field is defending senior executives at public companies across a range of alleged securities fraud violations. Many of these are government initiated civil and/or criminal investigations/enforcement actions, where the firm is particularly well-placed to advise, in part due to the preponderance of former government agency officials among its ranks. Formerly at the DOJ, team head Adam Lurie is particularly skilled at advising on white-collar-related securities matters, including defending senior executives against insider trading charges. Ex-SEC lawyer Doug Davison is also a key member of the team, regularly working alongside Lurie when there is an SEC-initiated component.

Drawing upon strong institutional financial services knowledge, as well as being able to leverage the expertise of many lawyers with significant prior governmental regulatory experience, the New York-focused team at Seward & Kissel LLP provides ‘smart, strategic and responsive’ advice to public companies, banks, and investment managers subject to regulatory scrutiny and in the context of private securities litigation. Jack Yoskowitz is a key member of the team, both on securities regulatory matters and private litigation, as well as in relation to shareholder derivative actions in the Delaware Chancery Court. Philip Moustakis has significant regulatory insight having previously served as senior counsel at the SECs enforcement division (including within its asset management division), and is consequently well-positioned to represent funds, in particular, with regard to securities-related investigations/enforcements. Russell Johnston, who previously worked as senior counsel at FINRA’s enforcement department, co-leads the team alongside Michael Watling.  Bruce Paulsen remains a key senior figure.

Primarily based out of its Newport Beach headquarters, Stradling Yocca Carlson & Rauth ‘provides a high level of client service’ to public and private companies, and their officers and directors, in connection with shareholder class actions, derivative cases, and direct cases. Leveraging the experience of many ex-governmental regulators, including Alfred Tierney – who joined in October 2024 from a fintech company having previously worked for many years at the enforcement division of the SEC – the firm is adept at helping companies navigate SEC investigations. The firm’s skill in this arena is exemplified by Kathleen Marcus, who is another former lawyer of the agency. Marc Schneider and Jason De Bretteville co-head the team alongside Marcus and ‘are both excellent courtroom lawyers and counselors’.

With a strong presence from its Chicago headquarters, as well as in other key nationwide offices in Texas, California and New York, Vedder Price is well-equipped to defend companies, financial institutions and individuals accused of violating securities laws in state and federal courts throughout the country. The presence of many former agency regulatory officials in its ranks is a strong selling point to clients, most pertinently in relation to SEC-initiated investigations and enforcement actions. As part of his broad-based complex commercial litigation offering, Chicago-based team head Thomas Cimino regularly handles securities class actions and derivative shareholder litigation, including for financial services entities and individuals. Also based in Chicago, Junaid Zubairi chairs the firm’s government investigations and white-collar offering, using the insight gained from his previous role at the SEC’s division of enforcement to good effect for financial services clients, including broker-dealers, investment advisers and funds, when subject to regulatory scrutiny.