By leveraging our hard-earned credibility with government agencies and our understanding of the government’s investigative process and priorities, we are often able to avoid charges being brought in the first place. In the event that a matter goes beyond the investigative phase into an adversarial proceeding, our seasoned litigators and trial attorneys will fight zealously on your behalf.

We are well equipped to guide you or your organization through any type of government proceeding, from the initial inquiry or receipt of a subpoena, through the resolution of an investigation and any related civil or criminal litigation. We mobilize quickly and efficiently to understand the relevant facts and to develop a comprehensive defense plan tailored to your individual or business needs. We provide real-time guidance and counseling every step of the way, acting with professionalism and integrity whether cooperating with the government, negotiating a favorable resolution, or litigating on your behalf.

Below, you can learn more about the types of regulatory enforcement and investigation matters in which we work extensively:

• Public and Private Companies & Director and Officer Defense
• Defense of Investment Advisers & Funds
• Defense of Broker/Dealers
• Defense of Financial Institutions
• Defense of Accounting and Auditing Firms
• Health Care Regulatory Defense 
• Internal Investigations
• False Claims Act Litigation and Investigation
• Cross-Border / FCPA

Public Companies, Officers and Directors, Executives and Other Corporate Employees

• Representing a former accounting employee of a public transportation company in federal criminal prosecution regarding alleged securities fraud and accounting fraud
• Representing a former sales executive in connection with an SEC investigation and litigation pertaining to accounting practices and alleged revenue recognition violation at former employer
• Representing a publicly traded engine supplier and multiple current and former employees in an SEC investigation stemming from a financial restatement and whistleblower allegations regarding the company’s revenue recognition practices, as well as related shareholder derivative lawsuits and a securities class action
• Represented one of the largest non-traded real estate investment trusts and various of its officers and directors in connection with an SEC securities fraud investigation and related whistleblower allegations and follow-on special litigation committee investigation, securities class action and shareholder derivative litigation
• Represented the former CFO of large publicly traded pharmaceutical company in a special committee investigation, SEC investigation, various shareholder derivative lawsuits, and a securities class action in connection with the company’s financial restatement arising from revenue recognition errors
• Represented the former Chairman and CEO of a large consulting company in an SEC investigation in connection with a financial restatement and related SOX 304(a) clawback claims, and successfully convinced the SEC not to pursue individual enforcement action
• Represented a large brand production company in an SEC investigation in connection with a financial restatement and resulting Wells process and successfully convinced the SEC not to pursue enforcement action
• Represented a former senior sales executive for international electronics company in an SEC investigation relating to revenue recognition practices and financial reporting issues
• Represented the former CEO of a logistics company in an SEC investigation in connection with a financial restatement involving the accounting treatment for rebates and successfully negotiated a settlement regarding SOX 304(a) clawback claims
• Represented five individuals in an SEC investigation and administrative proceeding against the former CEO of a public company involving accounting fraud
• Represented a telecom company in parallel SEC and DOJ investigations following a self-report to the SEC
• Routinely conduct internal investigations on behalf of public companies

Boards of Directors and Board Committees

• Represented the independent trustees of a mutual fund in an SEC investigation involving conflicts of interest allegations and supervision issues
• Represented the independent trustees of a large Midwest-based mutual fund complex in an SEC investigation involving supervision and oversight issues

Investment Advisers and Funds, Including Executives, Compliance Officers and Employees

• Representing an investment adviser and four private funds in connection with an SEC investigation and a state securities investigation stemming from investments in a large-scale Ponzi scheme
• Representing an investment adviser, its parent company and various affiliated entities and individuals in connection with an SEC investigation concerning conflicts of interest and valuation of investments held by private funds managed by affiliates
• Representing an investment adviser and certain officers and employees in an SEC investigation involving cross-trading
• Representing a former executive of a commodity trading adviser in investigations by the SEC and CFTC as well as various civil lawsuits brought on behalf of investors relating to significant losses suffered in connection with unprecedented spikes in the volatility index
• Representing a series of exchange-traded funds (ETFs) and their independent trustees in an investigation by the SEC regarding supervision and oversight
• Representing the former principal of an investment adviser in an SEC investigation regarding the principal’s redemption of assets from a fund managed by the adviser and financial matters relating to the fund’s portfolio companies
• Represented an investment adviser, its parent company and various affiliated entities and individuals in connection with an SEC investigation considering the use of affiliated products and related conflicts of interest
• Represented an investment adviser in connection with a self-report to the SEC pursuant to its Share Class Selection Disclosure Initiative
• Represented a large Midwest-based mutual fund complex and its independent trustees in an SEC investigation involving supervision and oversight issues
• Represented an investment adviser regarding an issue with disclosure of a conflict of interest surrounding soft dollar payments, including conducting an internal investigation and facilitating the adviser’s self-reporting of the issue to the SEC
• Represented a mutual fund adviser in connection with multiple federal and state court lawsuits filed by former investors in a mutual fund that was sub-advised by a third party
• Represented an investment advisor in an SEC investigation regarding losses sustained by one of the adviser’s mutual funds and the adviser’s subsequent termination of the fund’s sub-adviser
• Represented an investment adviser and its officers and employees in connection with an SEC investigation relating to conflicts of interest and related disclosures
• Represented an investment adviser in an SEC investigation involving portfolio rebalancing and related processes
• Represented Michael M. Eidelman, Receiver in U.S. Commodity Futures Trading Commission v. Peregrine Financial Group, Inc., and Russell R. Wasendorf, Sr.
• Represented a commodity pool operator in significant commodities fraud litigation and parallel administrative action brought by the CFTC in the U.S. District Court for the Northern District of Illinois
• Represented an investment adviser and its officers in an internal investigation and SEC investigation involving conflicts of interest relating to its portfolio managers
• Represented the independent trustees of a large investment fund in an SEC investigation involving the appropriateness of risk disclosures and oversight
• Represented an investment adviser in an SEC investigation relating to portfolio risk and allocation

Broker-Dealers and Registered Persons

• Representing a broker-dealer offering pooled investment vehicles in an investigation by the SEC
• Represented a currency trading firm and its principals in a FINRA enforcement proceeding alleging excessive markups and commissions as well as a state of Ohio investigation regarding the broker-dealer's ability to do business in the state
• Represented a broker-dealer and registered representative in a state of Indiana securities investigation involving the sale of variable annuities
• Represented multiple broker-dealers in various SEC investigations involving due diligence and compliance matters, private placement transactions, the suitability of capital raises and client investments, and sales practices

Accounting Firms, Audit Firms, Attorneys and Related Professionals

• Represented a national accounting firm and several of its audit professionals in connection with parallel DOJ and SEC investigations and prosecution of a former pharmaceutical executive and his company’s former outside counsel on charges of conspiracy to commit wire fraud and securities fraud
• Represented an accounting firm and several of its professionals in a PCAOB investigation concerning adequacy of the audit team’s considerations of fraud in a financial statement audit under AU section 316
• Represented an accounting firm in an SEC investigation concerning alleged independence violations
• Represented accounting professionals in an SEC investigation involving allegations of a deficient audit and potential suspension under Rule 102(e) of the SEC’s Rules of Practice
• Represented an accounting firm in responding to an SEC request for documents located in foreign jurisdictions, including China
• Represented an accounting firm and several of its principals and professionals in a PCAOB investigation concerning adequacy of the firm’s audit documentation and related procedures under Auditing Standard No. 3
• Routinely represent several accounting and auditing firms in responding to subpoenas issued by the SEC, PCAOB, or other federal and state regulators
• Routinely represent several accounting and auditing firms in SEC and PCAOB investigations concerning adequacy of audits performed

Financial Institutions

• Representing a banking executive in connection with parallel investigations by the DOJ and SEC relating to alleged misconduct by the banking client, including alleged fraud in connection with a lending facility and related securitization
• Represented dozens of banks and their respective directors and officers in open-bank proceedings seeking civil money penalties, restitution and/or industry prohibitions
• Represented a financial institution in a SIGTARP investigation regarding potential wrongdoing by prior management
• Represented multiple former bank directors in several highly publicized nine-figure FDIC-R lawsuits in the Northern District of Illinois
• Represented eight former bank directors and officers in an FDIC-R investigation that was terminated prior to litigation or any adverse action
• Represented three former bank directors and officers in an FDIC-R investigation that settled for less than 5 percent of the FDIC’s eight-figure demand with no out-of-pocket payment by the former directors and officers

Government Contractors

• Representing a publicly traded defense contractor in multiple civil and criminal investigations pending in multiple federal districts relating to allegations of official bribery, fraudulently obtaining tens of millions of dollars’ worth of Small Business Administration set-aside contracts and related civil violations of the False Claims Act
• Represented a non-profit entity in an extensive investigation by a federal agency regarding the entity’s use of government contracting monies
• Represented a defense and engineering company in a wide-ranging federal investigation regarding government inquiries concerning contract submissions and auditing

Insider Trading

• Representing the former chief financial officer of a publicly traded company in connection with insider trading allegations in connection with a corporate merger announcement
• Representing an individual in connection with international insider trading in parallel SEC and DOJ investigations and criminal prosecutions
• Representing a senior executive of a large public company in connection with parallel SEC and DOJ investigations involving allegations of insider trading in the public company’s stock
• Represented a former CEO and director of a public company in parallel SEC and DOJ investigations into alleged insider trading
• Represented family members of respondent in an SEC insider trading investigation concerning trades made in a joint account with target
• Represented four public company employees in an SEC insider trading investigation regarding trading in advance of negative corporate disclosure impacting stock price
• Represented an executive in an insider trading investigation by the SEC relating to a complex hedging transaction
• Represented an investment advisor in an SEC investigation of potential insider trading by a mutual fund portfolio manager
• Represented a public company in connection with an SEC investigation involving potential insider trading by an employee
• Represented an investment adviser and investment funds in an SEC investigation
• Represented former officer of a public company in an SEC investigation involving company stock options sales in advance of a corporate restatement

Health Care Regulatory Enforcement and Fraud

• Representing the former chief executive of a surgical specialty hospital in a civil False Claims Act case related to alleged improper financial arrangements with physician-owners and related DOJ and state government investigations
• Representing various employees of a fertility treatment specialty practice in connection with an ongoing criminal health care fraud investigation
• Representing numerous employees of various national hospital systems and other health care providers as third parties in connection with grand jury investigations and criminal trials related to alleged health care fraud
• Representing a national hospital system and its employees as witnesses in a grand jury investigation and trial of a transportation provider on federal health care fraud charges
• Representing the former chief medical officer of a hospital in connection with a grand jury investigation into possible federal health care fraud offenses
• Representing a third-party investment advisor in federal criminal forfeiture proceedings against one of its former clients following his conviction for federal health care fraud offenses
• Served as coordinating counsel in a complex healthcare litigation involving multiple state and federal proceedings. The cases ran the gamut from receivership issues to bankruptcy proceedings, applications for collateral relief to appellate proceedings. All of them involved a wide variety of healthcare, long-term care, corporate, regulatory and other matters, as well as several judgments collectively exceeding one billion dollars
• Represented a senior pharmaceutical executive in connection with internal and enforcement agency investigations of the company’s financial reporting and accounting practices
• Represented a medical billing company and its president in a civil False Claims Act qui tam lawsuit
• Represented the former president of a Japanese auto parts manufacturer in a sprawling federal criminal antitrust investigation, resulting in no criminal charges or civil penalties against the client
• Represented an investment banker in a federal criminal tax case relating to the client’s alleged underreporting of foreign employment income and foreign bank account reporting violations over several tax years totaling several million dollars. Obtained a sentence of probation following the client’s guilty plea to one count
• Represented a refinery charged with criminal violations of the federal Clean Air Act during a six-week jury trial. Obtained acquittals on two of four counts, with the two counts of conviction ultimately being reversed on appeal
• Represented a refinery in a grand jury investigation related to possible federal Clean Water Act violations, resulting in no criminal charges
• Represented directors and officers of financial institutions in grand jury and administrative investigations related to bank failures

Foreign Corrupt Practices Act

• Conducted an internal investigation for a government contractor related to misconduct by a former employee possibly involving official bribery and FCPA violations
• Conducted multiple internal investigations for a publicly traded chemical company related to possible FCPA violations in foreign manufacturing facilities
• Conducted internal investigations of anti-corruption matters in a variety of industries for public and private companies in China, Macau, Hong Kong, South Korea, Mexico, Costa Rica and India
• Crafted anti-corruption policies and procedures for numerous global companies   

Monitorship

• Served as a court-appointed monitor over a precious-metals company for a three-year period, overseeing all aspects of the company’s operations and implementation of state-of-art compliance systems and procedures

Education

• Represented two different for-profit universities in complex investigations and negotiations with federal and state regulators