PRACTICE AREAS

The strength of the Securities Litigation Practice Group lies in the broad litigation experience of its members in the securities area as well as corporate, tax, employee benefits, labor and antitrust matters.  Eckert Seamans’ attorneys have represented a variety of clients in both the defense and prosecution of securities-based claims.  Attorneys from our securities litigation group have served as lead counsel in all forms of complex securities litigation including matters arising under federal and various state securities laws.  Firm lawyers have represented financial institutions, Fortune 500 companies, pension funds and brokerage houses, underwriters, accountants, publicly traded companies of all sizes and industries as well as a myriad of privately held entities.

Timothy P. Ryan has represented publicly traded companies in securities fraud cases, including 10b-5 securities class action suits, and insider trading matters including SEC investigations.  He also has represented numerous minority shareholders in squeeze-out/freeze-out oppression and dissenters' rights cases.  Mr. Ryan was one of two lead counsels representing an international corporation in a number of high-profile suits brought against a major brokerage house under section 12(2) of the Securities Act of 1933.  He also has extensive experience in the litigation of RICO claims, often brought in conjunction with federal securities suits. 

Mark A. Willard has represented officers and directors of publicly traded companies in numerous securities fraud cases and in hostile takeover litigation.  He has also represented both minority and majority shareholders in both oppression and dissenters’ rights cases and has represented both plaintiffs and defendants in both state and federal actions involving alleged breaches of fiduciary duties.  His long experience in securities litigation includes representation of both Fortune 500 companies and regional businesses in securities litigation cases commenced by shareholders in hostile takeover litigation.  He is currently serving as lead counsel in representing the officers and directors of a major multinational construction and environmental remediation company in connection with several 10b-5 class actions involving alleged accounting irregularities and financial reporting discrepancies and in related adversary proceedings alleging breaches of fiduciary duties and fraud in federal bankruptcy court.

Eckert Seamans’ attorneys have successfully represented clients in the following matters:

• The firm represents the officers and directors of a major multinational construction and environmental remediation company in connection with several class action securities fraud cases involving alleged accounting irregularities and financial reporting discrepancies;
• The firm represented several institutional purchasers of defaulted securities of Integrated Resources in the multi-districted litigation against Drexel Burnham & Lambert;
• The firm represented a national law firm which had prepared a limited partnership offering for standard bred horses in litigation involving a multitude of issues including the adequacy of disclosures, the suitability of the investment, the quality of the Firm’s tax opinions and the legality of the forecasting of economic benefits;
• The firm represented Shoreline Pacific in actions involving the sale of off-shore debentures;
• The firm represented several public entities in connection with SEC enforcement proceedings wherein over $22,000,000 of the clients’ money was improperly frozen by the SEC through a temporary restraining order.  The firm successfully obtained an Order from the United States District Court for the Western District of Pennsylvania unfreezing our clients’ funds;
• The firm represented a number of securities broker/dealers in various NASD proceedings;
• The firm has represented over the last 15 years a multitude of clients (including officers and directors, accounting firms, as well as majority and minority shareholders) in matters involving minority squeeze-outs, minority share valuation issues and shareholder’s rights issues;
• The firm represented Citadel Communications Corporation in securities litigation resulting from a “go private” transaction;
• The firm represented a number of publicly traded entities in connection with the defense of hostile takeover efforts.  These takeover targets have included Ryan Homes, CCNB Bank and Copperweld Corp.;
• The firm represented Blockbuster Entertainment Corporation in a number of securities fraud matters brought in the United States District Court for the Southern District of Florida and in derivative suits brought by shareholders of entities acquired by Blockbuster;
• The firm represented a national trust company in connection with litigation brought by purchases of allegedly unsuitable investment vehicles;
• The firm represented Mortgage Realty Trust, a publicly traded REIT, in a shareholder’s derivative suit alleging a failure to disclose material information;
• The firm represented an investor who acquired an interest in various off-shore business trusts in connection with an SEC investigation;
• The firm represented brokers and dealers in connection with enforcement proceedings brought by state securities commissions involving allegations that investors were placed into unsuitable investments; and
• The firm represented a Pennsylvania college in a RICO action involving allegations of securities fraud and corporate mismanagement.

The above-identified matters are by no means intended to be an exhaustive list of the firm’s securities litigation related experience.  Rather, these matters are intended to demonstrate the breadth of the firm’s experience in this area.