SEC Enforcement
When the SEC’s Division of Enforcement turns its attention your way, companies and individuals need experienced counsel to navigate the SEC investigatory process and muster the facts and strategy necessary to position them for success. Haynes Boone’s lawyers have a broad base of experience in defending SEC enforcement actions and investigations. From inquiries into accounting practices and disclosure concerns to allegations of insider trading, improper valuation, and related party transactions, Haynes Boone’s SEC Enforcement group regularly represents public companies and their officers, directors and auditors, investment advisers to private funds, and retail clients, broker-dealers and other individuals in investigations originating from SEC offices nationwide.
Our defense experience and comprehensive approach to investigations defense has been shaped by the insider perspective offered by a number of our partners, including two former SEC Regional Directors and former federal and state prosecutors. Our extensive experience has given Haynes Boone the opportunity to represent public and private companies, financial services firms, and senior executives and board members in some of the most significant SEC investigations in recent years.
The goal in every representation is to have investigations close without an enforcement action filed. For this reason, many of our most significant representations have received no publicity. However, when matters do proceed to litigation, we stand ready to combine our deep experience litigating against government entities to achieve optimal outcomes. Our cross-discipline approach provides clients with access to securities class actions, antitrust, white-collar defense, and other highly-trained professionals as needed.
- Hired just as FBI agents were entering a Dallas-based hedge fund’s office to execute a search warrant, Haynes Boone’s team of lawyers successfully navigated a complex parallel DOJ/SEC investigation with allegations of improper short selling and insider trading, resulting in a full declination by both DOJ and SEC.
- Successfully defended a former executive at a family office in parallel investigations by the U.S. Attorney’s Office for the Southern District of New York, the Department of Justice Antitrust Division, the Securities and Exchange Commission, and the Commodities Futures Trading Commission, resulting in no charges by any law enforcement agency.
- Representation of public company and certain officers in simultaneous SEC investigation and putative class action related to disclosures; received termination letter from SEC staff and dismissal with prejudice of federal complaint under the Private Securities Litigation Reform Act.
- Representation of the chief compliance officer of a registered investment adviser following the receipt of a Wells notice for fraud and other alleged violations; following extensive Wells submission, SEC staff declined to recommend any action against the CCO.
- Defense of multiple investigations related to potential insider trading; received closing letters from SEC staff indicating no further action.
- Representation of public company CEO following receipt of Wells notice; persuaded the SEC Enforcement directors to drop charges that CEO misled investors about the company’s credit portfolio and associated risk.
- Representation of Fortune 50 company in connection with SEC investigation into public disclosures following an internal investigation regarding conduct of sales personnel; received closing letters from SEC staff indicating no further action.
- Representation of investment advisers and investment funds in addressing and responding to deficiency letters from the SEC Division of Examinations, avoiding referrals to the Enforcement Division.
* All cases vary and none are predictive