Our lawyers couple a deep understanding of the complex financial industry with unsurpassed litigation experience to help financial institutions and individuals avoid, settle or prevail in litigation.
We have successfully defended clients from government investigations and claims of insider trading, breach of fraud and fiduciary duty, mortgage fraud-related claims and class actions.
We are currently defending the former CEO of Fannie Mae in an SEC action filed in the Southern District of New York related to Fannie Mae’s disclosures regarding its exposure to “subprime” and “Alt-A” residential mortgages.
As lead counsel for McGraw Hill and its Standard and Poor’s division, we defended our client from the government’s suit which sought at least $5 billion in penalties under the Financial Institutions Reform, Recovery and Enforcement Act. The government accused S&P of fraud in its rating of hundreds of residential mortgage backed securities (RMBS) and collateralized debt obligations (CDOs) in the years leading up to the financial crisis in 2008. McGraw Hill ultimately settled with the government, and more than 20 states that made similar claims under state laws.
We won a total victory for a prominent Silicon Valley venture capital firm, which, along with 17 other defendants, was accused of conspiracy and breach of fiduciary duty. Our client and another venture capital firm invested in an internet-based portfolio company. The other firm sold the company’s stock to our client, which made a substantial profit after the company’s IPO. The stock sale, along with several other investments, led to the other firm’s collapse. In an effort to recoup its losses, the other firm’s receiver filed suit, accusing our client of conspiring with the company to sell the stock for a fraction of its value. Nearly all the other defendants settled, however we litigated the matter to its conclusion. After winning three different demurrers and a motion to dismiss, we won a final judgment for our client.
We defended a former Citigroup executive in one of the rare financial crisis cases to go to trial. He worked on the structuring desk at Citigroup and was charged with securities fraud in connection with Citigroup’s 2007 marketing of a $1 billion collateralized debt obligation (CDO) backed by assets tied to the housing market. In its enforcement action the SEC contended that Citigroup had played a role in the selection of the CDO’s underlying mortgage securities and had taken a short position in those securities. The SEC contended that our client was negligent for not disclosing information about Citigroup’s actions in its marketing materials. After a two-week jury trial in the Southern District of New York with Judge Rakoff presiding, the federal jury rejected the SEC’s case and found our client not liable on any of the SEC’s claims.
On behalf of a venture capital firm and its general partners, we defeated aggressive litigation filed by one of the firm’s portfolio companies. Our client had invested in the plaintiff company more than 25 years prior to the litigation, and was the plaintiff’s largest minority shareholder. The case began when our client exercised its contractual right to compel the plaintiff’s IPO so it could finally liquidate its investment. The plaintiff retaliated by accusing a firm partner who had exercised his stock options of breach of contract, conversion, and fraud. After successfully getting the case moved from Orange County to San Mateo, we battled with the plaintiff over the sufficiency of its pleadings and defeated a succession of attempts by the plaintiff to uncover in discovery our clients’ confidential and irrelevant business strategies concerning its investment. Ultimately, despite repeated efforts by the plaintiff to expand and delay the litigation, we convinced the San Mateo Superior Court to grant our clients’ motion for summary judgment in its entirety.
We defended a former Silicon Valley investment banker on obstruction of justice charges. After two trials and a successful appeal, all charges were deferred. Related charges from the Securities and Exchange Commission and the National Association of Securities Dealers were also dismissed.
We defended a national credit card processor in class action litigation related to alleged Section 17200 and other consumer protection violations. We showed that a forum selection clause in the merchant agreements precluded this type of complaint from being filed in the Northern District of California, thereby securing a dismissal and terminating the litigation.
We represent a national lender in various state and federal court litigations regarding mortgage fraud-related claims, both as plaintiff and as defendant. We have obtained numerous favorable rulings for the lender regarding cutting-edge, mortgage fraud-related issues, including favorable rulings on the scope of federal lending statutes such as RESPA, TILA, and federal preemption of state causes of action.
Longtime California trial staple Keker Van Nest & Peters LLP found success for a wide range of clients this year, winning a nationwide injunction against a presidential executive order, defending Arista Networks in a groundbreaking copyright suit and resolving a feud between two prominent San Francisco philanthropists. Read more
Stuart Gasner will address policy and case developments, enforcement and other critical topics. Read more
John Keker's panel will address "The Myth and the Reality: Ethical Obligations & Strategies to Challenge Prosecutorial Abuse." Read more
Stuart Gasner and his fellow panelists will address this critical topic at the CACJ's White Collar Seminar. Read more
Michael Celio discusses the variables at play, including the evolution of corporate governance. Read more
Steven Ragland will present Safeguarding Confidence: Ethical Strategies for Preventing and Addressing Privilege Problems Read more
The Supreme Court reversed and remanded a Sixth Circuit ruling that executives can be held responsible for opinions expressed to investors that later turned out to be false. Michael Celio spoke to Law360 about why the decision in Omnicare Inc. et al. v. Laborers District Council Construction Industry Pension Fund et al. is significant. Read more
Former federal prosecutor Stuart Gasner dug into the transcripts, exhibits and other source materials to examine how this podcast may interest the venture community. Read more
Brook Dooley, Eric MacMichael, Matan Shacham and Katherine Lovett will cover the significant cases of 2014 and their impact. Read more
Brook Dooley, Eric MacMichael and Katherine Lovett's article highlights some of 2014’s key developments in white collar practice, along with cases to watch in 2015. Read more
White-collar criminal defense and civil trial lawyer Stuart Gasner discusses how the justice system is skewed against the accused. Read more
Michael Celio comments on why Allergan's approach may be considered extremely aggressive. Read more
One name mentioned by virtually everyone the Daily Journal spoke to was Keker & Van Nest. Lawyers at some of the best firms in California said they model themselves after the litigation powerhouse. Read more
Stuart Gasner speaks about when the relationship between venture capital funds and the companies in which they invest unravels. Read more
Stuart Gasner discusses a recent California Court of Appeals case which underscores the dangers that await venture capital firms which fund companies in the midst of internal disputes. Read more
Elliot Peters will be a featured panelist at the California Bar's Eighteenth Annual Statewide Ethics Symposium. Read more
Keker & Van Nest defeats the SEC in this high-profile case. Read more
Stuart Gasner to speak before the Bar Association of San Francisco. Read more
Stuart Gasner, Michael Celio and Ajay Krishnan win the dismissal of a suit connected to the 2008 Lehman Brothers bankruptcy. Read more
Mr. Gasner, Mr. Celio and Mr. Krishnan defend San Mateo county and its treasurer from claims made by twelve school districts and the county office of education over Lehman losses. Read more