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Securities and Shareholder Litigation

Since the firm’s founding in 1968, high-profile securities actions and corporate disputes have been areas of particular focus for Kramer Levin Naftalis & Frankel's Litigation Department. The Department is co-chaired by Barry H. Berke and Gary P. Naftalis. It includes former senior federal prosecutors, public defenders, counsel for Congressional committees, fellows of the American College of Trial Lawyers, and teachers at major law schools. More than 50 of our litigation attorneys have served as law clerks to federal or state court judges.

We work actively in every area of securities litigation, regularly defending:

  • Issuers and their officers and directors in class action securities and derivative litigation
  • Issuers and underwriters against charges of misstatements in public offerings
  • Public auditing firms accused of securities law violations and accounting malpractice
  • Lawyers and other professionals charged with securities and RICO violations
  • Corporations, their officers and directors, and investment banking firms in litigation arising out of corporate control and similar transactions
  • Broker-dealer firms, mutual funds and investment advisors accused of trading and regulatory improprieties in civil actions and in SEC, CFTC and FINRA proceedings
  • Broker-dealer firms, investment advisers and hedge fund managers, and their employees and affiliates, against fraud and similar claims by investors and trade counterparties
  • Securities firms and professionals in customer disputes and employment arbitrations
  • Statutory insiders in short-swing profit cases

We often handle matters involving parallel civil class actions, as well as criminal, SEC, or other regulatory proceedings, and we have guided a number of clients—including issuers, major investment banking firms and public auditing firms—through sensitive government investigations while at the same time successfully resolving related civil litigation. We represent, for example, financial institutions in both regulatory proceedings and securities litigation arising from the recent credit and subprime mortgage fallout.

We regularly defend companies—as well as their officers, directors and outside professionals—charged by shareholders or regulators with improper "earnings management" or other accounting frauds, and we are involved in many of the SEC's current investigations concerning alleged accounting irregularities. In addition, we frequently conduct independent internal investigations of business conduct and represent audit and other special committees investigating corporate wrongdoing.

Supreme Court to Determine State Court Jurisdiction of Class Actions Under Securities Act of 1933

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Supreme Court Upholds Strict Time Limit in Federal Securities Class Actions

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In Two Unanimous Rulings, U.S. Supreme Court Limits Penalties in SEC Enforcement and Criminal Actions

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