Securities Litigation

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Anonymous User
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Joined: Tue Aug 11, 2009 9:32 am

Securities Litigation

Postby Anonymous User » Fri Aug 17, 2012 7:49 pm

I have a call back with a securities litigation boutique next week. I think I am interested in this field and believe my financial services background make this a good fit on paper but I've heard mixed things about this area of practice. Some people think its horrible and other love it. Just wondering if anyone had any first hand experience and information they could share.

Thanks

anon168
Posts: 920
Joined: Mon Jul 02, 2012 10:36 pm

Re: Securities Litigation

Postby anon168 » Fri Aug 17, 2012 9:33 pm

Anonymous User wrote:I have a call back with a securities litigation boutique next week. I think I am interested in this field and believe my financial services background make this a good fit on paper but I've heard mixed things about this area of practice. Some people think its horrible and other love it. Just wondering if anyone had any first hand experience and information they could share.

Thanks


What type of securities litigation? Plaintiffs? Defense? 10b-5? State law? Derivative cases? SOX? White-collar/regulatory defense?

Have to be more specific and I'd be happy to help answer any questions.

Anonymous User
Posts: 273590
Joined: Tue Aug 11, 2009 9:32 am

Re: Securities Litigation

Postby Anonymous User » Fri Aug 17, 2012 9:56 pm

anon168 wrote:
Anonymous User wrote:I have a call back with a securities litigation boutique next week. I think I am interested in this field and believe my financial services background make this a good fit on paper but I've heard mixed things about this area of practice. Some people think its horrible and other love it. Just wondering if anyone had any first hand experience and information they could share.

Thanks


What type of securities litigation? Plaintiffs? Defense? 10b-5? State law? Derivative cases? SOX? White-collar/regulatory defense?

Have to be more specific and I'd be happy to help answer any questions.


Thanks for the response.

They do lot of defense work representing broker dealers and financial services firms (Merrill lynch, boa, citi, etc) and their employees. They also seem to do a lot of arbitration. Claims range from allegations such as misrepresentation, fraud, unsuitability, and churning in the purchase and sale of securities; conflicts of interest. In addition to that they represent firms in proceedings before the SEC and FIRNA.

They also assist in the formation and registration of broker-dealers, the transfer and ownership of existing firms, and firm and individual licensing with state regulatory agencies and FINRA.

anon168
Posts: 920
Joined: Mon Jul 02, 2012 10:36 pm

Re: Securities Litigation

Postby anon168 » Fri Aug 17, 2012 10:38 pm

Anonymous User wrote:
anon168 wrote:
Anonymous User wrote:I have a call back with a securities litigation boutique next week. I think I am interested in this field and believe my financial services background make this a good fit on paper but I've heard mixed things about this area of practice. Some people think its horrible and other love it. Just wondering if anyone had any first hand experience and information they could share.

Thanks


What type of securities litigation? Plaintiffs? Defense? 10b-5? State law? Derivative cases? SOX? White-collar/regulatory defense?

Have to be more specific and I'd be happy to help answer any questions.


Thanks for the response.

They do lot of defense work representing broker dealers and financial services firms (Merrill lynch, boa, citi, etc) and their employees. They also seem to do a lot of arbitration. Claims range from allegations such as misrepresentation, fraud, unsuitability, and churning in the purchase and sale of securities; conflicts of interest. In addition to that they represent firms in proceedings before the SEC and FIRNA.

They also assist in the formation and registration of broker-dealers, the transfer and ownership of existing firms, and firm and individual licensing with state regulatory agencies and FINRA.


The paper aspect to it can be what gets people down about this area of law. Lots of reading and vetting of working papers etc.

I think if you liked what you did before in financial services, you will at least have a leg up in understanding some of the arcane terms (eg. gearing, ROCE, acid test, etc.) and some of the due diligence you have to do as a young associate won't be as tedious.

If they do any derivative stuff, esp. in Delaware Chancery court, then I think you'll have some very interesting stuff to chew on. I've found that area of law to be the most dynamic.

Good luck.

Anonymous User
Posts: 273590
Joined: Tue Aug 11, 2009 9:32 am

Re: Securities Litigation

Postby Anonymous User » Fri Aug 17, 2012 10:52 pm

anon168 wrote:
Anonymous User wrote:
anon168 wrote:
Anonymous User wrote:I have a call back with a securities litigation boutique next week. I think I am interested in this field and believe my financial services background make this a good fit on paper but I've heard mixed things about this area of practice. Some people think its horrible and other love it. Just wondering if anyone had any first hand experience and information they could share.

Thanks


What type of securities litigation? Plaintiffs? Defense? 10b-5? State law? Derivative cases? SOX? White-collar/regulatory defense?

Have to be more specific and I'd be happy to help answer any questions.


Thanks for the response.

They do lot of defense work representing broker dealers and financial services firms (Merrill lynch, boa, citi, etc) and their employees. They also seem to do a lot of arbitration. Claims range from allegations such as misrepresentation, fraud, unsuitability, and churning in the purchase and sale of securities; conflicts of interest. In addition to that they represent firms in proceedings before the SEC and FIRNA.

They also assist in the formation and registration of broker-dealers, the transfer and ownership of existing firms, and firm and individual licensing with state regulatory agencies and FINRA.


The paper aspect to it can be what gets people down about this area of law. Lots of reading and vetting of working papers etc.

I think if you liked what you did before in financial services, you will at least have a leg up in understanding some of the arcane terms (eg. gearing, ROCE, acid test, etc.) and some of the due diligence you have to do as a young associate won't be as tedious.

If they do any derivative stuff, esp. in Delaware Chancery court, then I think you'll have some very interesting stuff to chew on. I've found that area of law to be the most dynamic.

Good luck.


Thanks for the info.
Yeah that's what I've heard. Some people find the paper aspect of the job monotonous. To be honest that doesn't bother me. The idea of developing a niche and becoming really competent in an area of law is exciting actually. Also as far as billables go, the attorneys in this practice area seem to have a ton of work. What I am concerned about is exit options. I assume you could maybe go work for the SEC or FINRA, or maybe in house at a broker dealer, but what other options exisit?

anon168
Posts: 920
Joined: Mon Jul 02, 2012 10:36 pm

Re: Securities Litigation

Postby anon168 » Fri Aug 17, 2012 11:02 pm

Anonymous User wrote:Thanks for the info.
Yeah that's what I've heard. Some people find the paper aspect of the job monotonous. To be honest that doesn't bother me. The idea of developing a niche and becoming really competent in an area of law is exciting actually. Also as far as billables go, the attorneys in this practice area seem to have a ton of work. What I am concerned about is exit options. I assume you could maybe go work for the SEC or FINRA, or maybe in house at a broker dealer, but what other options exisit?


You could probably go in-house at any number of companies, not just on the sell side. You could always turn around and do plaintiff's side securities work. DOJ isn't out of the question, in addition to SEC. State regulatory agencies are another option, e.g. Dept. of Corps, AGs, etc.

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Mozart Lacrimosa
Posts: 129
Joined: Wed Aug 13, 2014 1:01 pm

Re: Securities Litigation

Postby Mozart Lacrimosa » Wed Mar 18, 2015 12:32 pm

Bump

For securities is there much work in non-NYC markets? Chicago has the CBOE but what is the spread of work outside of New York?

Thanks

threecharacters
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Joined: Thu Nov 18, 2010 12:40 am

Re: Securities Litigation

Postby threecharacters » Wed Mar 18, 2015 8:06 pm

Biggest non-NYC market for securities is probably DC. You could also look to SV. Or Boston.

You could also go to SEC regional offices. Or a state regulator.

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Mozart Lacrimosa
Posts: 129
Joined: Wed Aug 13, 2014 1:01 pm

Re: Securities Litigation

Postby Mozart Lacrimosa » Sun Apr 12, 2015 6:38 pm

Thanks!




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