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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 July 15, 2015
by Samuel E. Cohen Brokers Barred By The Securities Industry To Be Reviewed By State Insurance Regulators In January, 2014, the Wall Street Journal reported that former securities brokers who have been barred by the securities industry continued..., 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 specific...
Law Alerts July 6, 2015
The fact that an arbitration concerns issues of federal law does not, standing alone, confer subject matter jurisdiction on a federal district court to review the arbitration award. A motion to vacate must raise an actually disputed, substantial...,   Case Law Alerts, 3rd Quarter, July 2015 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 July 6, 2015
National Australia Bank invested $80 million in a Goldman collateralized-debt, which gave investors the opportunity to wager on the creditworthiness of a collection of mortgages. It was later discovered that, while Goldman was selling these..., Case Law Alerts, 3rd Quarter, July 2015 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 legal...
Law Alerts July 6, 2015
This case involved a claim against a financial advisor alleging he lost much of the claimants’ money by investing it in a Polish tobacco company. An American Arbitration Association arbitrator awarded the claimants almost $50 million for the..., Case Law Alerts, 3rd Quarter, July 2015 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 legal...
Law Alerts July 6, 2015
In an unusual case, a broker wins $500,000 in lost income as a complete offset to a promissory note claim by his former employer ,   Case Law Alerts, 3rd Quarter, July 2015 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 July 6, 2015
The claimant, a sophisticated and wealthy owner of a broker-dealer, alleged that he was being charged an unreasonable mark-up on municipal bond sales. The claimant also alleged that he was the victim of elder abuse. In granting the motion to dismiss..., Case Law Alerts, 3rd Quarter, July 2015 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 legal...
Law Alerts April 1, 2015
A court compelled the plaintiffs’ claims to arbitration based on an arbitration clause contained in a new account form signed by the plaintiffs. The plaintiffs alleged that they never received copies of the arbitration agreement that was to..., Case Law Alerts, 2nd Quarter, April 2015 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 legal...
Law Alerts April 1, 2015
The claimants filed claims against the broker-dealer respondent in which they alleged that the respondent had failed to supervise their broker, resulting in an unsuitable recommendation by the broker to the claimants. The Panel ultimately denied the..., Case Law Alerts, 2nd Quarter, April 2015 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 legal...
Law Alerts April 1, 2015
The petitioner sought confirmation of a FINRA arbitration award of default judgment against the respondent, who alleged lack of service. In the underlying arbitration, the respondent was served with copies of the Statement of Claim (SOC) by..., Case Law Alerts, 2nd Quarter, April 2015 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 legal...

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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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