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Securities Enforcement and Litigation

Overview

The trial lawyers who lead our securities enforcement and securities litigation defense team have an unusual combination of professional experiences that enables them to serve our clients well. Our team of senior advocates has significant experience and success in representing some of our largest financial institutions, corporations, and their executives. With the benefit of their experience, our lawyers have obtained positive outcomes for our clients in numerous government enforcement actions and private securities actions. Those include numerous securities arbitrations asserting a wide variety of sales practice and product-related claims.

Clients choose us for our ability to produce results and deliver value. We prepare a case for success with efficiency in our processes and leanness in our staffing. We also commit significant partner level attention to each and every matter. Our partner-to-associate ratio also results in superior associate training and satisfaction (as ranked in nationwide surveys) which means that clients do not experience a revolving door of associate lawyers assigned to their cases.

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Our Team

The Nutter team is particularly adept at dealing with claims related to finance and wealth management and has regularly served several of the top 10 financial service firms in the world, as well as public and private companies; accounting, finance, and investment professionals; and corporate executives and directors.

The accomplishments of individual attorneys on Nutter’s securities enforcement and litigation team have been recognized by: 

  • The Best Lawyers in America 
  • Chambers USA: America’s Leading Lawyers for Business 
  • Massachusetts Super Lawyers

Our firm has been listed among the ranked firms in general commercial litigation by the nationwide Chambers USA survey, and it has been listed in the nationwide review of “Best Law Firms” published by U.S. News & World Report/Best Lawyers for white collar defense work in particular. 

Individuals on the team are regularly in demand to: 

  • Publish articles on various subjects related to securities law, government enforcement and securities litigation and arbitration 
  • Act as panelists and moderators for professional seminars on those subjects 
  • Furnish commentary to the electronic and print media regarding those subjects

The senior members of our securities enforcement and litigation team include:

Jonathan L. Kotlier, who served for twelve years in the U.S. Attorney’s Office for the District of Massachusetts, during eight of which he was Chief of the Economic Crimes Unit. He worked closely with the Securities and Exchange Commission and the Massachusetts Division of Securities on securities fraud cases and has conducted internal investigations and represented numerous high level corporate officers in investigations by the SEC and Department of Justice. He is a seasoned trial lawyer, having tried over 20 cases to verdict.

Ian D. Roffman, who served for seven years in the Enforcement Division of the U.S. Securities and Exchange Commission, rising to the position of Senior Trial Counsel in the Boston Office. While at the SEC, he led dozens of high-profile investigations and enforcement actions involving public company disclosures, mutual funds, investment advisors, broker-dealers and insider trading, and he received the Enforcement Director’s Award and the Chairman’s Award for Excellence.

What We Do

Our securities enforcement and litigation team provides counseling, compliance advice, and advocacy in connection with: 

  • Investigations by regulators and government prosecutors 
  • Enforcement proceedings brought by regulators and prosecutors 
  • Internal investigations for companies, audit committees, special board committees, general counsel or compliance officers 
  • White collar criminal defense for individuals accused of legal misconduct 
  • Defense of securities class actions and derivative claims 
  • Private securities litigation, including shareholder merger litigation, litigation related to disputes with minority shareholders, and customer arbitration claims concerning sales practices and product issues

Nutter has repeatedly handled, among others, disputes involving allegations related to: 

  • Federal securities laws 
  • State securities laws 
  • Self-regulatory organization rules 
  • Breach of fiduciary duty 
  • Broker-dealer compliance 
  • Business valuations 
  • Disclosure issues 
  • Insider trading 
  • Investment adviser fraud or abuse 
  • Market timing 
  • Offering fraud 
  • Options backdating 
  • Revenue recognition and accounting issues

Who We Represent

  • Nutter represents a broad spectrum of businesses and individuals, including: 
  • Witnesses, targets and defendants in government enforcement actions 
  • Companies based in the U.S. and elsewhere that are publicly held 
  • Privately held entities 
  • Officers, directors, general counsel and management level employees 
  • Broker-dealers and investment advisers 
  • Professional service firms, such as accounting firms 
  • Governmental departments and agencies

Our clients are drawn from a range of industries including: 

  • Financial services 
  • Biotechnology and life sciences 
  • Computer hardware and software 
  • Pharmaceuticals 
  • Medical devices and instrumentation 
  • Energy and utility services 
  • Health care 
  • Automotive 
  • Manufacturing 
  • National defense 
  • Professional services, such as accounting 
  • Real estate and construction 
  • Retail

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Representative Matters

Representative Matters

  • Won acquittal after three-week securities fraud trial in federal court for general counsel of publicly traded software company

    Winning an acquittal after a three-week trial in federal court for the general counsel of a publicly-traded software company charged with securities fraud and false statements in the first prosecution arising out of the AOL/Time Warner merger.

  • Represented public company provider of management services in alleged insider trading inquiries by SEC and NASD

    Represented a public company provider of management services in SEC and NASD inquiries into alleged insider trading in which no charges were brought.

  • Represented public company executives in SEC inquiries

    Represented the executives of a public company in SEC inquiries into possible accounting and disclosure fraud in which no charges were brought.

  • Represented senior executive of a financial services company in SEC inquiries

    Represented a senior executive of a financial services company in SEC inquires into disclosures about subprime in which no charges were brought against Nutter’s client.

  • Represented publicly-traded utility in SEC and state securities bureau investigations

    Represented a publicly-traded utility in SEC and state securities bureau investigations into alleged non-disclosure of transactions with a corporate officer and insider trading; lengthy investigations were resolved by settlement viewed by the client as favorable.

  • Represented major investment firm in contract dispute

    Represented a major investment firm in a contract dispute arising out of alleged violations of British stock exchange laws; contract dispute was settled on terms regarded by client as favorable.

  • Represented major bond underwriter in securities fraud claim

    Representeda major bond underwriter in federal securities fraud claim winning motion to dismiss.

  • Conduct internal investigations for public companies

    Repeatedly conducting fruitful internal investigations for public companies concerning accounting practices, disclosures, leaking of confidential information and other issues.

  • Represented company and its president in government appeal of dismissal of criminal case

    Representing a company and its president in a government appeal of dismissal of a criminal case involving accusations of false statements made in a Wells submission in which we won affirmation of dismissal of all charges.

  • Represented foreign holding company victimized by fraudulent investment scheme

    Representing a foreign holding company that was victimized by a fraudulent investment scheme and successfully obtaining a preliminary injunction in federal court.

  • Successful avoidance of enforcement action by U.S. Treaury Department against financial institution

    Successfully avoided an enforcement action by the U.S. Treasury Department against a financial institution that failed to file currency transaction reports for over $50 million in cash deposits.

  • Represented trader at major investment firm in SEC investigation

    Represented a trader at a major investment firm in an SEC investigation of alleged insider trading; no charges were brought.

  • Represented employees of large investment management firm in SEC investigation

    Represented employees of a large investment management firm in an SEC investigation of allocations of initial public offerings; no charges were brought.

  • Represented CEO of major investment management firm against SEC and various state attorney general investigations

    Represented the CEO of a major investment management firm in connection with SEC and various state attorney general investigations of the mutual fund industry; no charges were brought.

  • Represented former broker of major investment firm in SEC lawsuit charging fraud

    Represented a former broker of a major investment firm in an SEC lawsuit charging fraud in connection with excessive trading and market timing; negotiated a resolution viewed by the client as favorable.

  • Represented individuals in multiple SEC investigations

    Represented individuals in multiple SEC investigations concerning options backdating at several public companies; no charges were brought.

  • Represented CFO of public company in SEC investigation

    Represented the CFO of a public company in an SEC investigation concerning accounting disclosures; no charges were brought.

  • Represented hedge fund managers in SEC investigation

    Represented hedge fund managers in an SEC investigation regarding market timing; no charges were brought.

  • Obtained dismissal of multiple fraud and breach of fiduciary duty actions

    Obtained the dismissal of multiple fraud and breach of fiduciary duty actions filed in a California state court against a managing director of a private equity fund sitting on the board of directors of a health care management corporation.

  • Successful avoidance of suit for mutual fund client

    Successfully avoided a suit for a mutual fund client in connection with an investigation by the Massachusetts Division of Securities.

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