Cases
Experience: Selected Private Practice Representations: Representation of several major financial institutions
issuers in connection with the SEC's Municipalities Continuing Disclosure Cooperation ( MCDC ) Initiative.
Representation of former CEO
CFO of public company in connection with SEC enforcement action involving financial fraud allegations.
Representation of individual in connection with SEC enforcement action involving market manipulation allegations.
Representation of major underwriter
broker-dealer in FINRA matter.
Representation of major financial institution in connection with SEC enforcement action involving compliance policies
procedures.
Representation of major financial institution in connection with SEC investigation into the offer
sale of municipal bonds.
Representation of major financial institution in connection with SEC investigation into practices involving municipal securities.
Representation of major financial institution in connection with SEC investigation into possible conflicts of interest
pay-to-play activities.
Representation of major financial institution in connection with SEC investigation involving municipal bond offerings.
Representation of registered municipal advisory firm in connection with SEC investigation.
Representation of registered municipal advisory firms in connection with various regulatory compliance issues.
Representation of Big Four accounting firm in connection with various regulatory compliance issues.
Representation of major financial institution in connection with various regulatory compliance issues, policies
procedures,
underwriter due diligence training.
Representation of underwriter in connection with SEC examination of practices involving municipal securities.
Representation of mutual fund director in SEC investigation.
Representation of options platform provider in SEC investigation.
Representation of broker-dealer
associated person in connection with FINRA matter.
Representation of major underwriter in connection with FINRA examination of practices involving municipal securities.
Representation of private company
officer in connection with SEC investigation involving EB-5 offerings.
Representation of public companies
their officers in connection with various SEC investigations.
Representation of issuers of municipal securities in connection with various SEC investigations.
Representation of private companies in connection with various SEC matters alleging violations of the registration provisions of the Municipal Advisor Rule.
Representation as underwriters' counsel for two major financial institutions in connection with complex municipal securities transaction.
Selected SEC Representations-Municipal Securities
Public Pensions: In the Matter of The City of Harrisburg, Exchange Act Rel. No. 69515 (2013). First-ever SEC enforcement action charging a municipality with fraud for misleading statements made outside of its securities disclosure documents.
In the Matter of State of Illinois, Securities Act Rel. No. 9389 (2013). Second-ever enforcement action brought by SEC against a State, charging it with misleading investors about its pension funding obligations.
In the Matter of State of New Jersey, Securities Act Rel. No. 9135 (2010). First-ever enforcement action brought by SEC against a State, charging it with fraudulent misrepresentations
omissions regarding its underfunding of its pension plans.
In the Matter of Banc of America Securities, Exchange Act Rel. No. 63451 (December 7, 2010)
SEC v. UBS Financial Services Inc., Lit. Rel. No. 21956 (May 4, 2011)
SEC v. J.P. Morgan Securities LLC, Lit. Rel. No 22031 (July 7, 2011)
SEC v. Wachovia Bank, N.A., Lit. Rel. No. 22183 (Dec. 8, 2011)
SEC v. GE Funding Capital Market Services, Inc., Lit. Rel. No. 22210 (2011). Unprecedented settled enforcement actions against five major financial institutions for their roles in a series of complex, wide-ranging bid-rigging schemes.
In the Matter of Goldman, Sachs & Co., Exchange Act Rel. No. 67934 (2012). First-ever pay-to-play enforcement action involving undisclosed in-kind non-cash campaign contributions.
In the Matter of Wells Fargo Brokerage Services, LLC, et al., Securities Act Rel. No. 9349 (2012). Enforcement action involving improper sale of complex products to municipalities.
SEC v. Kwame M. Kilpatrick, et al., Lit. Rel. No. 22362 (2012). Enforcement action against former mayor of Detroit
others for pay-to-play scheme involving public pension funds investment process.
SEC v. Stifel, Nicolaus & Co., Inc., et al., Lit. Rel. No. 22064 (Aug. 10, 2011). Enforcement action involving sale of unsuitably risky investments to school districts.
In the Matter of RBC Capital Markets, LLC, Securities Act Rel. No. 9262 (2011). Action against firm for its role in sale of unsuitable investments to school districts.
Selected SEC Representations-Corporate Issuer Disclosure, Financial
Accounting Fraud: SEC v. BP p.l.c., Lit. Rel. No. 22531 (2012). Seminal enforcement action against global oil
gas company, charging it with fraudulently misleading investors.
SEC v. Timothy S. Durham, James F. Cochran,
Rick D. Snow, Lit. Rel. No. 21888 (2011). Action charging former CEO, Chairman,
CFO of Akron, Ohio-based Fair Finance Company, with orchestrating a $230 million scheme that defrauded 5,200 investors.
SEC v. Joseph M. Braas
Michael J. Schlager, Lit. Rel. No. 21797 (2011). Financial fraud action against two senior officers of commercial lending company.
SEC v. Richard E. McDonald, et al., Lit. Rel. No. 21350 (2009). Financial fraud case against CEO, president, controller
outside securities counsel.
SEC v. Black Box Corporation, et al., Lit Rel. No. 21323 (2009). Settled action against public company, its former CEO
former CFO in connection with stock-options backdating scheme.
SEC v. Steven R. Garfinkel
Michael O'Hanlon, Lit. Rel. No. 21106 (2009). Financial fraud case against former CFO
former CEO.
SEC v. Tasty Fries, Inc., et al., Lit. Rel. No. 20194 (2007). Financial fraud case against public company, its CEO,
its counsel.
In the Matter of Allegheny Health, Education
Research Foundation, Exchange Act Rel.No. 42992 (2000)
In the Matter of Albert Adamczak, Exchange Act Rel. No. 42743 (2000)
In the Matter of Stephen H. Spargo, Exchange Act Rel. No. 42742 (2000)
SEC v. David W. McConnell
Charles P. Morrison, Lit. Rel. No. 16534 (2000). Financial fraud action against largest Pennsylvania nonprofit health care organization
four of its officers.
Selected SEC Representations-Insider Trading: SEC v. John Lazorchak, et al., Lit. Rel. No. 22535 (2012). Enforcement action against three health care company employees
four others in an insider trading ring.
SEC v. Timothy J. McGee, et al., Lit. Rel. No. 22288 (2012). Insider trading action involving novel application of the misappropriation theory in context of Alcoholics Anonymous relationship.
SEC v. Douglas V. DeCinces, Joseph J. Donohue, Fred Scott Jackson
Roger A. Wittenbach, Lit. Rel. No. 22062 (2011)
SEC v. James V. Mazzo, David L. Parker
Eddie C. Murray, Lit. Rel. No. 22451 (2012). Insider trading actions charging former Major League Baseball players
others.
SEC v. Matthew H. Kluger
Garrett D. Bauer, Lit. Rel. No. 21917 (2011)
SEC v. Kenneth T. Robinson, Lit. Rel. No. 22345 (2012). Actions charging a corporate attorney, a Wall Street trader,
their middleman, with one of the longest-running insider trading schemes ever. Parallel criminal action by U.S. Attorney's Office for District of New Jersey resulted in precedent-setting prison sentence of 12 years for Kluger, which was the longest sentence in U.S. history for insider trading.
SEC v. Nicos Achilleas Stephanou, et al., Lit. Rel. No. 20884 (2009). Insider trading action against Wall Street professionals.
SEC v. Jennifer Xujia Wang
Ruben Chen, Lit. Rel. No. 20112 (2007). Emergency insider trading case against two securities professionals.
SEC v. Friedman, Billings, Ramsey & Co, Inc., Emanuel J. Friedman et al., Lit. Rel. No. 19950 (2006). Precedent-setting case against registered broker-dealer, its CEO, Chief Compliance Officer,
Head Trader for insider trading, registration,
Exchange Act Section 15(f) policies
procedures violations in connection with short selling securities.
Selected SEC Representations-Mutual Fund Sales Practices: In the Matter of Morgan Stanley DW, Inc., Securities Act Rel. No. 8339 (2003). First-ever SEC action charging a broker-dealer with antifraud violations arising from undisclosed conflicts of interest in connection with revenue sharing or shelf space arrangements.
In the Matter of Massachusetts Financial Services Company, Investment Advisers Act Rel. No. 2224 (2004). First-ever SEC action charging an investment adviser to a mutual fund complex with antifraud violations arising from undisclosed conflicts of interest in connection with revenue sharing or shelf space arrangements with broker-dealers.
In the Matter of PA Fund Management LLC, PEA Capital LLC,
PA Distributors LLC, Investment Advisers Act Rel. No. 2295 (2004). First ever SEC revenue sharing case in which investment adviser, subadviser
distributor for the PIMCO mutual funds were charged with violations of Investment Company Act.
In the Matter of Citigroup Global Markets, Inc., Securities Act Rel. No. 8557 (2005). First-ever SEC case involving broker-dealer's fraudulent sale of Class B mutual fund shares to set the threshold for the violative conduct at US$50,000 in aggregate purchases by customer rather than single purchases of US$100,000
also charged with revenue sharing violations.
In the Matter of Putnam Investment Management, LLC, Investment Advisers Act Rel. No. 2370 (2005) . Settled action charging fraud in connection with revenue sharing arrangements.
Selected SEC Representations-Best Execution Violations: In the Matter of Scottrade, Inc., Exchange Act Rel. No. 58012 (2008). Precedent-setting best execution case charging broker-dealer with fraud in connection with its failure to conduct a regular
rigorous review of its customers' Nasdaq pre-open orders.
In the Matter of Morgan Stanley & Co. Incorporated, Exchange Act Rel. No. 55726 (2007). Settled action charging fraud for best execution failures.
In the Matter of Folger Nolan Fleming Douglas Capital Management, Inc., et al., Advisers Act Rel. No. 2639 (2007). Action charging investment adviser for best execution violations.
Selected SEC Representations-Broker-Dealer Practices: SEC v. Marek Leszczynski, et al., 12-CIV-7488 USDC SDNY (2012). Action charging brokers with fraudulent markups
markdowns.
In the Matter of Janney Montgomery Scott, Exchange Act Rel. No. 64855 (2011). Settled action against broker-dealer for violations of Section 15(g) (formerly 15(f)) of the Exchange Act.
In re Bearcat, Inc., et al., Exchange Act Rel. No. 56630 (2007). Action involving unauthorized trading scheme.
SEC v. Welco Securities, Inc., et al., Lit. Rel. No. 16253 (1999). Action involving sale of US$60 million of unsuitable investments to customers.
Selected SEC Representations-Auction Rate Securities: SEC v. Deutsche Bank Securities Inc., Lit. Rel. No. 21066 (2009). Settled action against broker-dealer that misled investors about the liquidity risks associated with auction rate securities.
Selected SEC Representations-Short Selling/Regulation SHO: In the Matter of Goldman Sachs Execution & Clearing, L.P., Exchange Act Rel. No. 62025 (2010). Settled action involving violations of emergency Rule 204T of Regulation SHO.
Selected SEC Representations-Investment Adviser Practices: In the Matter of Foxhall Capital Management, Inc., et al., Investment Advisers Act Rel. No. 3590 (2013). Settled action against investment adviser
its CEO for failing to adopt
implement written compliance policies
procedures.
SEC v. Sam Otto Folin, Benchmark Asset Managers LLC,
Harvest Managers LLC, Lit. Rel. No. 22036 (2011). Settled action against investment adviser, its CCO
others for fraud.
SEC v. Donald Anthony Walker Young, et al., Lit. Rel. No. 21006 (2009). Emergency action against investment adviser to stop ongoing fraud.
SEC v. Mark D. Lay
MDL Capital Management, Inc., Lit. Rel. No. 20713 (2008). Action against investment adviser for defrauding Ohio Bureau of Workers Compensation.
In the Matter of Yanni Partners, Inc.
Theresa Scotti, Investment Advisers Act Rel. No. 2642 (2007). Settled conflict of interest action against investment adviser
pension consultant
its president, whose institutional clients had more than US$21 billion in assets.
Selected SEC Representations-Proxy Voting: In the Matter of INTECH Investment Management LLC
David F. Hurley, Investment Advisers Act Rel. No. 2872 (2009). First-ever enforcement action against investment adviser
its COO for violations of the proxy voting rule 206(4)-6 under the Advisers Act.
Selected SEC Representations-Market Manipulation: SEC v. Gregg M.S. Berger, et al., Lit. Rel. No. 21833 (2011). Action against 11 individuals
entities for international pump-
-dump scheme involving eight stocks.
SEC v. George Georgiou, Lit. Rel. No. 20899 (2009). Action involving market manipulation of four stocks.
SEC v. National Lampoon, Inc., et al.
SEC v. Advatech Corporation, et al.
SEC v. Alex Kanakaris, et al., Lit. Rel. No. 20828 (2008). Cases against seven individuals
two corporations for market manipulation schemes.
Selected SEC Representations-Foreign Corrupt Practices Act (FCPA): SEC v. Westinghouse Air Brake Technologies Corporation, Lit. Rel. No. 20457 (2008)
In the Matter of Westinghouse Air Brake Technologies Corporation, Securities Act Rel. No. 57333 (2008). Settled action charging public company with violating the anti-bribery, books
records,
internal controls provisions of the FCPA.
Selected SEC Representations-Offering Frauds
Ponzi Schemes: SEC v. Robert Stinson, Jr., et al., Lit. Rel. No. 21584 (2010). Emergency action to stop ongoing $17 million Ponzi scheme by securities law recidivist.
SEC v. Joseph Forte, et al., Lit. Rel. No. 20847 (2009). Emergency action to stop ongoing $75 million Ponzi scheme.
SEC v. Ralph Gregory Gibbs, Lit. Rel. No. 20503 (2008). Nationwide $21 million offering fraud
Ponzi scheme.
SEC v. CBT-Ohio, Ltd., Andrew P. Bodnar, et al., Lit. Rel. No. 16109 (1999). Offering fraud involving Prime bank scheme.
SEC v. The Infinity Group Company, et al., Lit. Rel. No. 15462 (1997). Emergency action against promoters of massive Prime Bank scheme where almost $30 million was raised from more than 10,000 investors nationwide in less than a year
able to recover $9 million from offshore accounts.
Selected SEC Representations-Account Intrusions: SEC v Petr Murmylyuk, Lit. Rel. No. 22333 (2012). Fraudulent account intrusion scheme involving unauthorized options trading.
SEC v. Anatoly Russ, Lit. Rel. No. 20430 (2008). Novel account intrusion case against Russian citizen who engaged in fraudulent scheme to control the prices at which he purchased
sold options on a bond Exchange Traded Fund (ETF).
Selected SEC Representations-Transfer Agent: SEC v. Wilmington Trust Company, Lit. Rel. No. 18759 (2004)
In the Matter of Wilmington Trust Company, Exchange Act Rel. No. 49904 (2004). Action against bank transfer agent for recordkeeping
reporting violations.
Selected SEC Representations-Regulation FD: In the Matter of Senetek PLC, Exchange Act Rel. No. 50400 (Sept. 16, 2004). Settled action against company for violating Section 13(a) of the Exchange Act
Regulation FD.
Selected SEC Representations-Touting: In the Matter of Taglich Brothers, Inc.
Richard C. Oh, Securities Act Rel. No. 8489 (2004). Settled action charging violations of Section 17(b) of the Securities Act for failure to disclose fees paid by public company issuers for the firm's dissemination of research to investors.
In the Matter of Martin P. Joswick, Securities Act Rel. No. 8133 (2002). Settled action charging Section 17(b) violations.
The above representations were h
led by Ms. Greenberg prior to joining Greenberg Traurig, LLP.
