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Securities Litigation and Regulation

Ice Miller attorneys have substantial experience in complex private securities litigation, derivative litigation, corporate governance disputes and defense of state and federal securities regulatory and criminal enforcement actions.

We have represented public companies, private partnerships, institutional investors, directors and officers, broker dealers and individuals. We have litigated in private shareholder class actions,shareholder derivative cases, government enforcement matters, receiverships arising from investment fraud, internal investigations, Financial Industry Regulatory Authority (FINRA) arbitrations and enforcement actions, and other disputes relating to securities transactions and corporate governance.

In their private and public practice capacities, our attorneys have served in leadership roles in some of the largest securities litigation matters in recent history. We have litigated two of the largest non-public securities frauds in the Midwest and one of the largest defendant class actions in the nation. Collectively, our cases have involved claims and settlements in the billions of dollars.

Ice Miller's litigators represent officers and directors of public and private companies, law firms, individual attorneys and other "gatekeepers" in complex securities litigation arising under federal and state law, including:
  • state and federal securities fraud litigation
  • securities class actions
  • shareholder derivative litigation
  • change of control litigation
  • multidistrict litigation

Representative Experience

  • Henkel v. Aschinger, et al., 167 Ohio Misc.2d 4, 2012-Ohio-423.  Defense of shareholder derivative action initiated following announcement of merger of publicly traded companies. The Court dismissed the shareholder’s claims in their entirety and the transaction closed as negotiated.
  • In Re Abercrombie & Fitch Shareholder Derivative Litigation.  Defense of A&F board members in shareholder derivative litigation. 
  • In Re National Century Financial Enterprises Litigation. Defense of former outside legal counsel in a $2.5 billion securities fraud action regarding National Century Financial Enterprises’ alleged fraud in connection with the sale of securitized healthcare receivables. Outside counsel was dismissed from the litigation upon the Court’s granting our motion to dismiss. This litigation was a complex MDL and represented the largest non-public company securities fraud in U.S history prior to the Madoff investigation.
  • In Re Brantley Capital Securities Litigation. Defense of public company CFO in a securities fraud class action.
  • In Re ComScape Holding, Inc. Litigation. Defense of Chairman and CEO of privately held telecommunications company in litigation involving a change of control dispute.
  • Ramius Private Select Ltd., et al. v. Robert Daugherty, et al., Represent hedge fund investors against issuer and executive of hedge fund alleging securities fraud, common law fraud, breach of contract, and other common law claims.
  • Ramius Private Select, Ltd. v. Sacha Lainovic, et al., Represent hedge fund investors in fraudulent conveyance claims against entities and individuals who were the recipients of fraudulent conveyances from the hedge fund.
  • In Re Mark Pantenburg, Represent registered representative and investment advisor representative in connection with Ohio Division of Securities enforcement action.
  • In Re Tribune Company Fraudulent Conveyance Litigation, Represent numerous public pension funds in response to state law constructive and intentional fraudulent conveyance claims arising from the leveraged buy-out of The Tribune Company and its subsequent bank bankruptcy. Serve on the defense Executive Committee for this complex multi-district litigation matter.
  • In Re Lyondell Chemical Company Fraudulent Conveyance Litigation, Represent numerous public pension funds in response to state law constructive and intentional fraudulent conveyance claims arising from the leveraged buy-out of The Lyondell Chemical Company and its subsequent bank bankruptcy.
  • Academic Imaging, LLC v. Soterion Corp. Represent Soterion Corp., in response to allegations of conversion, breach of fiduciary duty, conversion and negligent misrepresentation in connection with sale of limited liability company membership interests.
  • Ohio Division of Securities Investigation, Represented Wirehouse Broker Dealer in confidential Ohio Division of Securities Investigation into the sale of auction rate securities. No action taken.
  • In re: Timothy Lofton, Represented Wirehouse Broker in Ohio Division of Securities Investigation and denial of license. Status: Client prevailed following an administrative trial and was awarded a securities license.
  • Ohio Police & Fire Pension Fund, et al. v. Standard & Poor's, Represented various public employee retirement funds against certain rating agencies in connection with the issuance of ratings in residential and commercial mortgage backed securities.
  • SEC v. Tab Keplinger, Represented former CFO of a public company in a confidential SEC investigation.
  • SEC Enforcement Investigation - Ohio Division of Securities, Represented individual in a confidential Ohio Division of Securities and SEC investigation involving the alleged sale of interests in real estate investments. No action taken.
  • Securities Regulatory Litigation, Represented private Ohio real estate company and its founders in a confidential enforcement investigation by the Ohio Division of Securities. Status: No action taken.
  • In Re Blue Flame Energy Corp., Represented the North American Securities Administration Association as an amicus filer in a securities regulatory matter.
  • Securities Regulatory Defense, Represented issuer of securities during confidential investigations being conducted by the Securities and Exchange Commission and the Ohio Division of Securities. No action taken.
  • Ohio Division of Securities v. Joanne Schneider, Serve as receiver in a $60 million securities fraud case initiated by the Ohio Division of Securities. As receiver, Fornshell managed a large and diverse business enterprise and liquidated more than $30 Million in assets for the benefit of creditors.
  • U.S. v. Derrick McKinley; SEC v. Derrick McKinley, Defense of individual against insider trading allegations by the Securities and Exchange Commission and the U.S. Department of Justice.
  • CFTC v. Joseph Foley; U.S. v. Joseph Foley (September 2005-2007). Defense of individual against market manipulation allegations by the Commodity Futures Trading Commission and U.S. Department of Justice.
  • Represented regional broker dealer in Indiana Securities Division enforcement action relating to sales of auction rate securities.
  • Represented purchasers of defaulted municipal bonds in action against underwriters and other sellers.
  • Represented national broker dealer in multiple multi-claimant FINRA arbitration claims involving recommendations of allegedly unsuitable investment strategies to retiree customers.
  • In Re Westridge Capital Management – represented public pension fund in $400 million claim against hedge fund that was placed in receivership by SEC and CFTC following discovery of Ponzi scheme.

Firm Publications



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