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Securities and Investments Professional Liability

Our Securities and Investments Professional Liability Practice Group services a broad client base, including, but not limited to:

  • Registered representatives
  • Financial planners
  • Registered Investment Advisors
  • Brokers/dealers
  • Hedge fund and mutual funds and administrators
  • Financial services outsourcing solution providers
  • Private trust companies
  • Insurance brokers/agents

 
We also handle:

  • Fiduciary liability matters
  • Corporate directors and officers
  • Employment practice liability matters

 
In addition to professional liability matters in state and federal courts, we defend RIAs, brokers and broker-dealers before self-regulatory organizations, state agencies and the SEC. We handle securities arbitration claims before FINRA, AAA and other SROs.
 
Founded in 1962, Marshall Dennehey Warner Coleman & Goggin is one of the largest law firms in the country devoted exclusively to civil defense litigation. We have 500 attorneys in twenty offices strategically located in Philadelphia, Pittsburgh, Tampa, Orlando, Jacksonville, Ft. Lauderdale and communities throughout Pennsylvania, New Jersey, Delaware, Ohio, Florida and New York.

Clients realize a number of benefits from our extensive network of offices: travel time is sharply reduced and the attorneys working out of these offices and living in these respective areas are intimately familiar with the local practice and enjoy a good rapport with the judges before whom they frequently appear.
 
Recognizing the need for a cost-effective approach to the defense of professionals and organizations, we are dedicated to providing our clients with quality, timely and economical service. We are on the cutting-edge in developing innovative and alternative billing practices.
 
We welcome the opportunity to work with you in handling your securities matters. We are also available to conduct presentations, as well as training or compliance seminars at your location or at one of our offices.

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Aug 25, 2016
Obtained a denial of the vast majority of a request for a permanent injunction. The claims arose when our client, a registered representative associated with a national broker-dealer, resigned from her prior broker-dealer and began to solicit...
Aug 25, 2016
Obtained a favorable arbitration award from a FINRA panel directing expungement of a customer complaint from the client's Central Registration Depository (CRD) records. Recent FINRA guidance has stated that expungement of a customer complaint...
Apr 21, 2016
Obtained a dismissal on a directed verdict in a FINRA arbitration in New York. The defense represented a broker-dealer in a dispute with its former customer regarding the unauthorized use of her account information. The claimant was a customer of...
Sep 21, 2015
Successfully represented an investment professional before the Financial Industry Regulatory Authority (FINRA). In a matter venued in Chicago, the defense succeeded on a motion to dismiss based upon FINRA's six-year eligibility rule. ...
Jun 8, 2015
Obtained a directed verdict on behalf of a broker-dealer and a broker in a FINRA arbitration in New York. The claimant, a sophisticated and wealthy owner of a broker-dealer, alleged that he was being charged an unreasonable mark-up on municipal bond...
May 16, 2013
We obtained a defense verdict in a binding non-appealable FINRA. The claimant alleged the variable annuity recommended for his IRA was unsuitable and that he lost profits of $672,000. However, the Panel agreed with our agrument that the variable...
Sep 8, 2011
Attorneys received a trial victory in a case referred by the parties to private arbitration. The plaintiff, a former chief executive of a technology company, acquired company stock with monies borrowed from the company; the loan was secured by a...
Apr 1, 2011
Attorney obtained summary judgment on behalf of a large bank.  Summary judgment was granted in favor of the bank and against a hostile and experienced pro se litigant after protracted discovery and multiple disputes.  Plaintiff claimed that the bank...
Feb 15, 2011
Attorney successfully representing our self-insured broker dealer as well as its president, senior management and in-house attorneys in a FINRA arbitration.  Claimant in the arbitration sued all respondents alleging that they stole his book of...
Dec 6, 2010
Attorneys obtained a defense award in a FINRA Dispute Arbitration where the Claimants sought compensatory damages and the claim was litigated for six hearing sessions. Claimants alleged that Respondents made unsuitable recommendations for DBSI...

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Law Alerts August 11, 2017
DOL Proposes Another Delay For Implementation of the Fiduciary Rule: What It Means to RIAs Prepared by John P. Quinn, Esq. On Wednesday, August 9, 2017, the Department of Labor (DOL) announced in a court filing that it will delay the effective...,   The material in this law alert has been prepared for our readers by Marshall Dennehey Warner Coleman & Goggin. It is solely intended to provide information on recent legal developments, and is not intended to provide legal advice for a...
Law Alerts January 3, 2017
Manning held over two million shares of stock in Escala Group, Inc. He claimed that he incurred losses when the share price decreased after Merrill Lynch allegedly devalued the shares through “naked short sales” of the stock. Manning and..., Case Law Alerts, 1st Quarter, January 2017. Case Law Alerts is prepared by Marshall Dennehey Warner Coleman & Goggin to provide information on recent developments of interest to our readers. This publication is not intended to provide legal...
Law Alerts January 3, 2017
In January 2016, the claimant filed a statement of claim, alleging damages resulting from the respondent’s loss of an electronic trade ticket that allegedly resulted in the claimant’s clients’ shares sitting in a block trading..., Case Law Alerts, 1st Quarter, January 2017. Case Law Alerts is prepared by Marshall Dennehey Warner Coleman & Goggin to provide information on recent developments of interest to our readers. This publication is not intended to provide legal...
Law Alerts October 3, 2016
A brokerage firm petitioned to confirm a FINRA arbitration award recommending the expungement of a client’s allegation of misconduct from the record of one of its brokers. The client opposed the petition, arguing that the FINRA arbitrators did..., Case Law Alerts, 4th Quarter, October 2016. Case Law Alerts is prepared by Marshall Dennehey Warner Coleman & Goggin to provide information on recent developments of interest to our readers. This publication is not intended to provide legal...
Law Alerts October 3, 2016
An executive of Corvex, an ADT Corp. shareholder, met with the management and board of directors of ADT Corp. to encourage a repurchase of stock to create debt and increase the company’s stock price. ADT Corp. went forward with the repurchase..., Case Law Alerts, 4th Quarter, October 2016. Case Law Alerts is prepared by Marshall Dennehey Warner Coleman & Goggin to provide information on recent developments of interest to our readers. This publication is not intended to provide legal...
Defense Digest Article September 1, 2016
By Samuel E. Cohen, Esq.* Key Points: Protecting seniors from financial exploitation is a goal of recently proposed legislation at the state and federal levels. Distinction between state and federal legislation as to whether reporting...,   Defense Digest, Vol. 22, No. 3, September 2016. Defense Digest is prepared by Marshall Dennehey Warner Coleman & Goggin to provide information on recent legal developments of interest to our readers. This publication is not intended to...
Defense Digest Article September 1, 2016
By Denis C. Dice, Esq.* Key Points: FINRA Dispute Resolution Task Force issues final report with multiple recommended actions. FINRA Board of Governors only authorized for filing with the SEC three proposed amendements....,   Defense Digest, Vol. 22, No. 3, September 2016. Defense Digest is prepared by Marshall Dennehey Warner Coleman & Goggin to provide information on recent legal developments of interest to our readers. This publication is not intended to...
Law Alerts July 19, 2016
An arbitration panel ordered Morgan Stanley to pay more than $8.6 million to a retiree for losses tied to alleged unauthorized trading and unsuitable investments, including an allegedly risky Chinese internet company. The claimant, in his 70s, and..., Case Law Alerts, 3rd Quarter, July 2016 Case Law Alerts is prepared by Marshall Dennehey Warner Coleman & Goggin to provide information on recent developments of interest to our readers. This publication is not intended to provide legal advice...
Law Alerts April 1, 2016
The plaintiff, a former employee of the defendant, filed an arbitration in FINRA asserting various non-discrimination claims, including tortious interference with contractual relations and infliction of emotional distress. Neither party disputed..., Case Law Alerts, 2nd Quarter, April 1, 2016 Case Law Alerts is prepared by Marshall Dennehey Warner Coleman & Goggin to provide information on recent developments of interest to our readers. This publication is not intended to provide legal...
Law Alerts April 1, 2016
The plaintiff filed a complaint alleging, among other things, that the defendant misrepresented its business practices and risk controls in violation of the federal securities laws. An example of the alleged misrepresentations included the defendant..., Case Law Alerts, 2nd Quarter, April 1, 2016 Case Law Alerts is prepared by Marshall Dennehey Warner Coleman & Goggin to provide information on recent developments of interest to our readers. This publication is not intended to provide legal...

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June 16, 2016
Andrew W. Davitt, chair of the Securities and Investments Practice Group in the Philadelphia office of Marshall Dennehey Warner Coleman & Goggin, was a featured speaker at the 10th Annual Errors & Omissions Insurance ExecuSummit, held June 7 – 8 in Uncasville, CT. Mr. Davitt and fellow...
May 5, 2014
Veteran litigator Terrance A. Bostic has joined Marshall Dennehey Warner Coleman & Goggin as Senior Counsel in the firm's Tampa office. A member of the Professional Liability Department, he focuses his practice on securities litigation, white collar criminal defense and commercial litigation...
Conference Jun 17, 2014
David Shannon will discuss E & O Cyber Liability at the 8th Annual E & O Insurance ExecuSummit, to be held June 17 - 18 in Uncasville, CT. Additionally, Jeffrey Chomko will participate on a panel discussing Insurance Agents & Brokers E...

Chair

Andrew W. Davitt
Chair, Securities & Investments Professional Liability Practice
(215) 575-2679
awdavitt@mdwcg.com

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