Bates White consultants have extensive experience providing Securities and Exchange Commission (SEC)–related litigation support. They are often retained to offer industry custom and practice expertise. They offer expertise in enforcement actions on issues relating to investment adviser fiduciary duty, disclosures, and conflicts of interest. They have submitted many written reports and testified at numerous trials.
Our consultants have testified in a number of jury trials as experts in industry custom and practice for investment advisors on behalf of the SEC; the SEC has prevailed in each trial.
- US Securities and Exchange Commission v. Dean Patrick McDermott et al.—Testified before the US District Court for the Eastern District of Pennsylvania on behalf of the SEC. The SEC accused investment advisory firm McDermott Investment Advisors of breaching fiduciary duties owed to its advisory clients. The jury ruled in favor of the SEC.
- US Securities and Exchange Commission v. Ambassador Advisors et al.—In an investment adviser matter in which the SEC accused Ambassador Advisors of breaching fiduciary duties and failing to adopt and implement written policies and procedures, testified before the US District Court for the Eastern District of Pennsylvania as an expert in investment industry practices and customs. The jury ruled in favor of the SEC and found the defendants guilty of investment advisory fraud.
- Houston American Energy Corp. public filings analysis—On behalf of the SEC, evaluated the materiality of several alleged misrepresentations that HUSA made in its public filings regarding its Colombian oil wells. Submitted affirmative and rebuttal expert reports.
- SEC v. James Thomas Bramlette—Retained as an expert by the SEC regarding issues related to solvency and standard of care for a fund manager in the capital raising, operation and management of a fund. Issued expert report and declaration.
- Engaged to assist counsel defend hedge fund in an SEC enforcement action relating to fund valuation.