The SEC building. Credit: Diego Radzinschi/ALMSEC’s Latest Enforcement Actions Fuel Demand for Big Law
Paul, Weiss, Rifkind, Wharton & Garrison, Fenwick & West, Goodwin Proctor, Sidley Austin, among other firms are advising clients wrapped up in settlements or charges the SEC announced this past week.
December 23, 2024 at 03:50 PM
3 minute read
What You Need to Know
- The SEC announced settlements or charges in at least seven matters this past week.
- Nearly a dozen law firms are advising clients wrapped up in settlements or charges.
- The SEC announcements are the latest examples of work firms are receiving amid robust enforcement activities under the Biden administration.
The Securities and Exchange Commission is ramping up enforcement activity in the final weeks of 2024, announcing settlements or charges in at least seven matters in the past week alone. The activity has sent work to nearly a dozen Big Law firms that have been retained as defense counsel.
Paul, Weiss, Rifkind, Wharton & Garrison; Fenwick & West; Goodwin Proctor; Debevoise & Plimpton; Simpson Thacher & Bartlett; Morgan Lewis & Bockius; Sidley Austin; Davis Polk & Wardwell; Orrick, Herrington & Sutcliffe; Kirkland & Ellis; and Fried, Frank, Harris, Shriver & Jacobson are among the firms listed as defense counsel.
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Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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