Securities

We have extensive experience in a wide array of matters involving securities and commodities regulation and enforcement. We have represented exchanges, traders, brokers, and customers in litigation and enforcement matters, as well as provided compliance counseling. Representative engagements include:

SECURITIES AND ENFORCEMENT LITIGATION

  • Defending former director in SEC investigation of fraudulent reporting
  • Obtaining favorable settlement on behalf of trading firm alleged to have acted as unregistered government securities dealer and obtaining declination of charge for market manipulation or wash trading
  • Representing the bankruptcy trustee of Sentinel Management Group in SEC and CFTC enforcement actions and numerous lawsuits relating to securities and commodities regulations under the Commodity Exchange Act and Investment Adviser Act of 1940
  • Representing the CME Group in matters relating to the collapse of MF Global, Inc.
  • Providing compliance counseling and regulatory advice to the Chicago Board Options Exchange
  • Defending issuer of auction rate securities in SEC, FINRA, and state agency enforcement actions
  • Defending former top executive of accounting firm on charges of insider trading
  • Defending former executive of Waste Management, Inc. against SEC charges of accounting fraud
  • Defending and advising individuals and companies in numerous SEC, CFTC, FINRA, CME, and NFA investigations and enforcement actions

HIGH-FREQUENCY TRADING AND OTHER TRADING DISPUTES

We have particular expertise in matters involving the high-frequency trading business, spoofing, and other trading disputes.

  • Firm founder Chris Gair successfully defended Misha Malyshev, a former trader who left Citadel Investment Group to form his own trading firm, against a proposed injunction that would have shut down his new firm and against a billion-dollar damages claim. The Firm continues to represent Malyshev’s firm and other high-frequency traders in other complex disputes
  • We won a jury trial in a case brought against a Chicago proprietary trading firm and its two principals alleging fraud, wash trading, and violation of the Illinois Whistleblower Act
  • Defended a trader in an investigation by the Chicago Board of Trade
  • Successfully defended a trader at the Chicago Board of Trade who is the subject of a grand jury investigation relating to alleged spoofing