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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 January 2, 2014
The customer complained that the broker failed to adequately advise her of the tax implications of her premature withdrawal from a variable annuity in an IRA. The arbitrator found in favor of the broker and broker/dealer on all counts.   Case...
Law Alerts January 2, 2014
The claimants filed a FINRA Arbitration in Tampa, Florida, related to their investments in illiquid Inland Western and Inland American Real Estate Investment Trust offerings. The claimants sought compensatory damages of $1 million as well as...
Law Alerts January 2, 2014
A Washington, D.C. arbitration panel dismissed the claimant’s claim against the respondents in their entirety, with prejudice, because the only “occurrence or event (that could be deemed to give) rise to the act or dispute, claim or...
Law Alerts January 2, 2014
The claimants filed a FINRA Arbitration in Minneapolis, Minnesota, seeking compensatory damages of $12.5 million related to the recommendation of several allegedly unsuitable transactions in real estate investment trusts and other real estate...
Defense Digest Article December 17, 2013
By Andrew W. Davitt, Esq.* The Marshall Dennehey Securities and Investment Professional Liability Practice Group is devoted to handling virtually all litigation-related issues facing securities and investment professionals. This group services a..., Defense Digest, Vol. 19, No. 4, December 2013 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...
Law Alerts July 1, 2013
The City of Harrisburg consented to the entry of an order instituting cease-and-desist proceedings pursuant to Section 21C of the Securities Exchange Act of 1934. The SEC charged the municipality with material misstatements and omissions in its..., Case Law Alerts, 3rd Quarter 2013
Law Alerts July 1, 2013
The SEC filed a civil enforcement action against the officers of an investment advisor, seeking civil penalties under the Investment Advisors Act of 1940. The U.S. Supreme Court granted certiorari and ultimately upheld the lower court's..., Case Law Alerts, 3rd Quarter 2013
Law Alerts April 11, 2013
The U.S. Supreme Court rejected the SEC's argument that an agency should be entitled to the protection of the Discovery Rule in an enforcement action seeking a civil penalty for an alleged act of fraud. In Gabelli, the action had been filed..., Case Law Alerts - 2nd Quarter 2013
Law Alerts April 11, 2013
A non-lawyer's representation of a party to a securities arbitration proceeding in Illinois constitutes the unauthorized practice of law. In this matter, the issue was brought to the attention of the Illinois State Bar Association by the FINRA..., Case Law Alerts - 2nd Quarter 2013



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

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