Securities - Litigation
Market-Leading Securities Experience. Our securities litigators are seasoned problem solvers and trusted advisors to clients in all manners of securities cases from pre-litigation strategies through motion practice, trials, and appeals. Our securities litigators routinely defend public companies and their officers and directors in securities litigation, shareholder derivative actions, and SEC enforcement actions and investigations. Leveraging our market-leading experience, our securities litigators often obtain early dismissal on behalf of our clients.
Our Core Values. Clients bring their high-stakes securities litigations to Taft because they know that our business mindset, depth of experience, collaborative mentality, and practicality will yield winning results. At the heart of everything we do is a set of values that has served us well for more than a century: our passion for the law, and our commitment to impeccable client service. These concepts continue to influence every aspect of our professional lives and are, we believe, among the reasons for our firm’s success and longevity. Most significantly, it is why business clients of all sizes and industries choose Taft for their securities litigation needs.
A Unique, Cross-Disciplinary Approach. Beyond our experience in securities litigation, our securities litigators routinely partner with our transactional attorneys to ensure an integrated approach to advising public and private company boards, executive leadership, and in-house legal counsel on strategic business, corporate governance, and securities matters. We believe that this knowledge and experience, coupled with our holistic, cross-disciplinary approach to our representation of clients, drive unique efficiencies and synergies in our defense of securities litigations. As securities litigators, we continually meld the wisdom of experience with the energy of innovation to defend cases. And we do it efficiently, both with a distinctively tailored team and with our client’s business goals top-of-mind. Where appropriate, we resolve disputes promptly and successfully for our clients at the negotiating table and through the creative use of alternative dispute resolution procedures. We leave nothing to chance. In every case we litigate, we acquire a complete and thorough understanding of the issues and how they relate to the specific business needs and long-term objectives of our client. We quickly develop and execute on a plan to achieve our client’s goals and position cases for maximum trial advantage. In the end, we outperform and outwork our adversary to achieve winning results.
National Reach with Local Market Focus. While our securities litigators have successfully tried and defended cases across the country, we have also dedicated our practice to serving each of our local markets. Over our more than 135-year history, Taft has become part of the foundation and fabric of our local bench and bar. Our lawyers have held clerkships at every level of our country’s judicial system, from the U.S. District Courts to the U.S. Supreme Court, and have served as attorneys for the Securities and Exchange Commission and as Assistant United States Attorneys for the Department of Justice. Our litigators also write, lecture, and teach practice skills, both on law school campuses and through bar organizations. Our securities litigators bring skill and experience beyond their many years of successfully trying and defending cases. As a testament to their success, our litigators have been recognized as industry leaders by, among other organizations and publications: the American College of Trial Lawyers; the American Board of Trial Advocates; Litigation Counsel of America; Chambers USA: America’s Leading Lawyers for Business; The Best Lawyers in America; Super Lawyers; Benchmark Litigation; and the Wall Street Journal.
Taft regularly represents clients who find themselves in situations involving alleged misstatements or disclosure omissions, violations or fraud in the offer and sale of securities, the registration of securities, merger and acquisition litigation, regulatory investigations, customer disputes, breach of contract, suitability and fairness, unauthorized trading, shareholder and partnership disputes, and more. As a result of the long list of clients we represent and the knowledge our securities attorneys bring to each case, they are able to hit the ground running with each new case and swiftly work towards a successful outcome. A small sampling of our recent and representative work includes:
On behalf of a multi-billion dollar, NASDAQ Global Select-listed company:
- Obtained the dismissal of several individual officer defendants and several alleged misrepresentations in a $1.2 billion dollar securities fraud class action lawsuit and secured a favorable settlement of all remaining claims.
- Successfully achieved, on a motion to dismiss, the dismissal of all shareholder-derivative claims asserted against current and former officers and directors.
- Successfully obtained dismissal of shareholder claims brought under Section 10(b) and Section 20(a) of the Exchange Act based on alleged material omissions.
- Successfully obtained dismissal of class action securities and ERISA stock-drop action brought against corporate officers and directors.
- Successfully obtained dismissal of shareholder claims brought under Section 16(b) of the Exchange Act based on alleged “short-swing profits.”
On behalf of an American coffee company:
- Complete trial victory in defense of $11 million securities fraud and unfair share valuation proceeding through a five-day trial.
- Served as lead trial counsel in securities litigation in Minnesota state court.
On behalf of a global medical device maker:
- Successfully obtained dismissal of shareholder suit based on alleged nondisclosure of illegal activity on behalf of client and its board of directors in the U.S. District Court for the District of Minnesota. In addition, successfully defended appeal of District Court’s decision to the Eighth Circuit, which affirmed the decision.
- Successfully obtained dismissal of securities class action as co-defense counsel to client.
- Successfully obtained dismissal of derivative action brought against corporate officers and directors.
- Successfully obtained dismissal of ERISA class action; motion to dismiss granted.
- Defense counsel of stock drop securities class action; motion to dismiss granted.
- Defense counsel of shareholder derivative action; motion to dismiss granted.
- Defense counsel of ERISA stock drop class action; motion to dismiss granted on standing grounds.
On behalf of a global beverage distribution company:
- Lead counsel for company in merger challenge litigation involving a $6 billion merger; successfully defended 12 actions in Delaware, New York, and Minnesota.
- Lead defense counsel on $33 million breach of trust agreement claims; argued motion to dismiss, which was granted.