Ian Roffman presents “Litigating and Winning Against the SEC in a Financial-Crisis-Era Complex Case” at the Boston Bar AssociationPrint PDF
Ian Roffman, partner in the firm’s Litigation Department and a member of the Securities Enforcement and Litigation and the Government Investigations and White Collar Defense practice groups, presented “Litigating and Winning Against the SEC in a Financial-Crisis-Era Complex Case” at the Boston Bar Association on January 29. Ian’s presentation focused on the SEC v. Steffelin case, a highly publicized financial-crisis-era case claiming fraud in offering a $1 billion CDO that referenced mortgage-related securities. Defendants succeeded in getting the SEC to dismiss the case after a year and a half of discovery and litigation and the program reviewed in detail the themes and arguments that led to the dismissal, which may be applicable to the large number of similar private and enforcement cases that are pending. The presentation also addressed common themes in two other high profile wins for the defense: the Bent case, which arose out of a money market fund "breaking a buck" after Lehman Brothers collapsed, and the Hopkins/Flannery case, relating to fund disclosure about exposure to subprime-related investments.
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