Capital Markets Litigation

The American Lawyer features Lowenstein Sandler’s recent “lateral hiring spree of government lawyers and prosecutors” in an article on the arrival of new partners and former government litigators Rachel Maimin and Greg Baker. Both Maimin, former SDNY assistant U.S. attorney, and Baker, former senior counsel at the U.S. Securities & Exchange Commission, praised Lowenstein’s “commitment to growing its white-collar practice,” in addition to the strength of its investment management and funds practice, as critical elements attracting them to the firm. 

The piece notes that since former Attorney General of New Jersey Anne M. Milgram joined the firm in July 2017 as special counsel and former Attorney General of New Jersey Christopher Porrino returned to the firm in 2018, Lowenstein has welcomed several former prosecutors and government lawyers. The firm’s Litigation team now includes former First Assistant Attorney General of New Jersey Peter Slocum; former Assistant U.S. Attorney, Eastern District of New York Ryan M. Wilson; former Assistant U.S. Attorney, Southern District of New York Elie Honig; and former Deputy Attorney General of New Jersey Shontae D. Gray. 

Porrino, Chair of the firm’s Litigation group, says that “he expected the firm’s ‘talent binge’ to continue. … ‘We’re focused on talent and we’re focused on experience and I think Rachel and Greg are great examples of that.’” (This article also appeared in the New Jersey Law Journal and on Yahoo! Finance and Yahoo! News.) (subscription required to access certain content) View Lowenstein’s news announcement about Maimin and Baker joining the firm.

Zachary D. Rosenbaum is quoted in FundFire discussing a civil lawsuit he is prosecuting against Apex Fund Services for fraud and racketeering (RICO). Rosenbaum notes that investors in funds for which Apex serves as administrator should be aware of the company’s egregious behavior. (subscription required to access article)

Reuters and The D&O Diary note Lowenstein Sandler as counsel to opt-out plaintiff investment funds that secured a $42.5 million settlement with VEREIT to resolve the funds’ securities fraud actions against American Realty Capital Properties Inc. (Lowenstein team: Lawrence M. Rolnick, Marc B. Kramer, Thomas E. Redburn, Jr., Michael J. Hampson, and Sheila A. Sadighi.) View Lowenstein’s news announcement about this transaction.

The New York Law Journal and Law360 report on the September 6, 2018, oral argument before the New York State Court of Appeals in which Zachary D. Rosenbaum argued on behalf of Deutsche Bank National Trust Co. in its appeal from a decision dismissing as time-barred its RMBS “putback” claims against Quicken Loans Inc. Rosenbaum argued to New York’s highest court that a contractual provision defining when a cause of action for breach of representations and warranties accrues should be enforced in accordance with its plain language and does not violate New York public policy. (subscription required to access articles)

Law360 quotes Ryan M. Wilson in an article discussing The Royal Bank of Scotland’s (RBS) $4.9 billion settlement with the U.S. Department of Justice (DOJ)  to end claims that the bank defrauded investors by using low-quality loans behind its residential mortgage-backed securities. The settlement amount constitutes a civil penalty under the Financial Institutions Reform, Recovery and Enforcement Act. Wilson notes that the significance of the dollar amount speaks to the severity of RBS’s conduct and the amount of time required to reach a settlement. He also states that the size of the penalty could reflect the fact that RBS is one of the last major banks to strike a deal with the DOJ. (subscription required to access article)

Law360 notes Ryan M. Wilson's and Elie Honig's arrival at Lowenstein. Wilson, a partner in the Capital Markets Litigation and White Collar Criminal Defense practices, returned to the firm after serving as an Assistant U.S. Attorney on President Obama’s Residential Mortgage-Backed Securities (RMBS) Task Force in the U.S. Attorney’s Office for the Eastern District of New York. Honig joined Lowenstein as special counsel in the White Collar Criminal Defense practice following his tenure as Director, Department of Law and Public Safety, in the New Jersey Division of Criminal Justice. Earlier, he was an Assistant U.S. Attorney for the Southern District of New York. (subscription required to access article)

Global Investigations Review (GIR) notes Ryan M. Wilson's return to Lowenstein, now as partner in the Capital Markets Litigation and White Collar Criminal Defense practices, following his tenure as an Assistant U.S. Attorney on President Obama’s Residential Mortgage-Backed Securities (RMBS) Task Force in the U.S. Attorney’s Office for the Eastern District of New York. (subscription required to access article)

Bloomberg Law – Big Law Business, The Deal, and the ABF Journal note Ryan M. Wilson’s return to Lowenstein, now as partner in the Capital Markets Litigation and White Collar Criminal Defense practices, following his tenure as an Assistant U.S. Attorney on President Obama’s Residential Mortgage-Backed Securities (RMBS) Task Force in the U.S. Attorney’s Office for the Eastern District of New York. The ABF Journal quotes Zachary D. Rosenbaum on how Wilson's rejoining the firm augments Lowenstein's capabilities and highlights the firm's continued success at attracting prominent, accomplished former prosecutors and trial lawyers.

The New York Law Journal (including this abbreviated coverage), Law360, and ABL Advisor highlight Ryan M. Wilson’s return to Lowenstein, now as partner in the Capital Markets Litigation and White Collar Criminal Defense practices, following his tenure as an Assistant U.S. Attorney on President Obama’s Residential Mortgage-Backed Securities (RMBS) Task Force in the U.S. Attorney’s Office for the Eastern District of New York. Law360 quotes Wilson on his government experience and mentions Zachary D. Rosenbaum (Chair, Capital Markets Litigation) as a draw in coming back to the firm. All three articles quote Wilson on his reasons for returning to Lowenstein, and they note that Wilson is the latest in a series of former prosecutors and trial lawyers to join or return to the firm. Each article mentions one or more of the following former government lawyers who have come to Lowenstein in the past few years: Christopher Porrino (Chair, Litigation Department), Kathleen A. McGee, Elie Honig, Scott B. McBride, and Matthew Boxer. (subscription required to access the New York Law Journal and Law360)

Amiad Kushner is featured in Caixin, discussing cross-border disputes involving Chinese companies (article in Chinese language).

Zachary Rosenbaum comments in Global Capital on Standard & Poor's $1.37 billion class action settlement with the Department of Justice over the agency's crisis-era RMBS ratings.