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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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Apr 11, 2019
We obtained a defense verdict in a binding FINRA arbitration in Boca Raton, Florida. ​Our broker-dealer client was sued in arbitration by two retired broker claimants who sought $5 million in past and future benefits, under a retirement program that...
Aug 24, 2018
We represented a compliance officer for a broker dealer and FINRA arbitrator in a case where he was sued in FINRA arbitration. The claims against our client included breach of fiduciary duty, fraud, wire fraud and misrepresentation, among others....
May 11, 2018
We obtained a defense verdict after a four-day jury trial in northeastern Pennsylvania on behalf of a registered investment advisor and a securities broker dealer who were sued by their former client for investment losses. The plaintiff was a...
Aug 30, 2017
Received a defense decision in a Financial Industry Regulatory Authority (FINRA) binding arbitration proceeding conducted in Pittsburgh. ​The 78-year-old investor sued her financial advisor for breach of contract and breach of fiduciary duty,...
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...

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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...
Law Alerts January 15, 2016
The panel made the following Rule 2080 affirmative finding of fact: the registered person was not involved in the alleged investment-related sales practice violation, forgery, theft, misappropriation or conversion of funds. The dissenting arbitrator..., Case Law Alerts, 1st Quarter, January 2016 Case Law Alerts 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 provide...
Law Alerts January 15, 2016
The 11th Circuit Court of Appeals found that an IRS notice advising an investor in a tax shelter that the investment lacked economic substance puts the investor on sufficient notice of fraud so that, if the investor does not exercise reasonable..., Case Law Alerts, 1st Quarter, January 2016 Case Law Alerts 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 provide...

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September 5, 2019
Samuel E. Cohen, shareholder in the Professional Liability Department at Marshall Dennehey Warner Coleman & Goggin, has been appointed to serve on the Special Olympics PA-Philadelphia Executive Advisory Board for a three-year term. The Executive Advisory Board assists the Special Olympics...
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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