Securities Litigation

Brown White & Osborn LLP has extensive experience in formal and informal SEC enforcement proceedings, securities litigation, federal injunction actions, and corporate director and officer liability litigation. We have considerable experience involving claims of fraud and non-disclosure, market manipulation, fraud in the offer and sale of securities, and insider trading.


We represent directors and officers, accountants, lawyers, corporations, law firms, accounting firms in securities actions brought by shareholders, debt holders, and others. Our practice involves both public and private companies and both public and private offerings of securities. We represent clients at every stage of the litigation process: pre-complaint investigations and demands, discovery and motions practice, and trial.


Brown White & Osborn attorneys have considerable success in preventing and mitigating enforcement proceedings. We have successfully used the Wells Submission procedure to convince the SEC either not to take action against our clients or to reduce the type, breadth and severity of the charges. We have the proven ability to meet the short deadlines that are frequently involved in litigating against the SEC.


In matters before regulatory agencies, most notably the SEC and NASD, Brown White & Osborn attorneys have represented corporations, individuals, and professional firms. The firm has also represented corporations and individuals in investigations and prosecutions arising from securities matters. We represent clients in parallel civil, administrative and criminal investigations and proceedings simultaneously.

Representative Cases:


Securities Fraud Investigations and Cases


  • Represented the former officer of one of the largest telecommunication companies for securities fraud, insider trading and financial statement fraud.
  • Successfully defended brokerage house involving allegations of undisclosed principals and stock irregularities and manipulation.
  • Defended general partner in a $320 million real estate mortgage case involving of securities fraud. The investigation, civil case, criminal case, and administrative proceedings were favorably resolved.
  • Defending partner of large plaintiff’s securities class action law firm involving allegations of money laundering, mail fraud and wire fraud over more than 40 year period.
  • Represented individuals in insider trading cases.
  • Successfully represented Courtney Smith, former securities analyst, in parallel criminal and SEC enforcement actions alleging securities fraud and touting allegations, and obtained acquittal on all counts following jury trial in federal court in and successfully obtained defense verdict in civil case involving SEC.
  • Represented former executive of Countrywide Savings involved in parallel criminal and civil insider trading allegations.
  • Represented former president of one of the nation’s largest telecommunication companies for securities fraud, insider trading and financial statement fraud.
  • Represented accountants, attorneys, and other individuals in insider trading cases.
  • Represented president and corporation in securities fraud action brought by the California Attorney General’s Office.
  • Represented former executive officer of an Internet company in criminal and civil investigations involving allegations that the company recorded fictitious revenues.
  • Represented public companies in a New York Stock Exchange and NASDAQ inquiries into possible insider trading and securities fraud.
  • Represented public companies, audit and special committees, directors, and corporate officers in complex financial reporting and accounting investigations.