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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.


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...
Sep 13, 2010
Attorney obtained dismissal in arbitration before the Financial Industry Regulatory Authority (FINRA) for our client, a FINRA member broker dealer. The theory of liability as to our client centered on successor in interest status related to the...
Aug 23, 2010
Attorneys obtained a dismissal with prejudice after four complaints and two motions for summary judgment in a case alleging that the insurance company and the agent employed deceptive sales techniques in an effort to sell life insurance, which they...
Jun 21, 2010
Attorney prevailed after a two-week FINRA arbitration. Although the arbitrators issued a monetary award in favor of the investor, the amount of the award was approximately 25% of the amount that the investor was seeking (not including punitive...
Jun 21, 2010
Attorney obtained a complete denial of all of the investor's claims after a three-day Financial Industry Regulatory Authority arbitration hearing. The arbitration panel specifically found that the registered representative (our client) owed no...
May 17, 2010
Attorneys successfully obtained a release of their international client's large sum of money which was previously attached and held in the court registry. The attorneys' argued for the release of the money under the Court of Appeals for the 2nd...
Apr 26, 2010
Attorney succeeded in persuading the Superior Court to affirm the dismissal of a tax dissenter's lawsuit against a bank. In response to a levy imposed by the federal Internal Revenue Service on the plaintiff's bank accounts for unpaid income taxes...



Law Alerts March 20, 2015
Recent Litigation Victories In a recent FINRA arbitration, Stanley Abel v. Janney Montgomery Scott, FINRA Arbitration No. 14-00018, Sam Cohen (Philadelphia, PA) obtained a directed verdict on behalf of his clients, Janney Montgomery Scott LLC, and..., 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 October 1, 2014
The claimants originally complained about investments in unspecified real estate investment trusts. The respondents then brought a third-party action against the principal and their former broker dealer, arguing that he assisted the claimants in..., Case Law Alerts, 4th Quarter, October 2014
Law Alerts October 1, 2014
In April 2011, the SEC filed a complaint against a number of Richmond, Virginia-based firms and CEOs, alleging that they devised and orchestrated a fraud-related offering of millions of dollars of promissory notes and stock sold to numerous..., Case Law Alerts, 4th Quarter, October 2014
Defense Digest Article September 1, 2014
By Gregory P. Graham, Esq.* Key Points: After Halliburton, the “fraud-on-the-market” presumption remains valid in securities class action litigation. However, securities defendants may now oppose class certification on the..., Defense Digest, Vol. 20, No. 3, September 2014 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 provide...
Defense Digest Article June 1, 2014
By Joel Wertman, Esq. and Allison Livezey, Esq.* Key Points: Proposed FINRA rule pertaining to expungement of brokers’ public records will prohibit conditioning customer settlements on agreements not to oppose expungement of...
Law Alerts April 1, 2014
Penny stock transactions raise heightened risks because low-priced securities may be manipulated. FINRA found that Brown Brothers Harriman executed or delivered securities involving at least six billion shares of penny stocks, many on behalf of..., Case Law Alerts, 2nd Quarter, April 2014
Law Alerts April 1, 2014
The claimant filed a FINRA arbitration in Washington, D.C., seeking $350,000 in compensatory damages related to discrepancies and unauthorized transactions in her accounts. The arbitration panel found that the claimant failed to present any credible..., Case Law Alerts, 2nd Quarter, April 2014



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

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