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Mr. Siegel specializes in securities, bankruptcy and complex commercial litigations. He has litigated cases in more than a dozen different jurisdictions around the country. He prosecutes claims involving securities fraud, M&A, and other securities related issues on behalf of institutional and other sophisticated investors, and defends public companies and stock brokerage firms, and their officers and directors in securities class actions and related matters. Mr. Siegel represents witnesses and targets in SEC and other enforcement cases and both respondents and claimants in AAA, NYSE, and NASD arbitrations. Mr. Siegel regularly litigates a broad range of bankruptcy matters on behalf of unsecured creditors, equity holders and debtors, including fraudulent conveyance, preference, and lender liability issues, as well as substantial commercial disputes in various federal and state courts and arbitration forums.
Mr. Siegel spent three years at the United States Securities and Exchange Commission as a Trial Attorney and three years as Chief Attorney, Branch of Enforcement, in the SEC’s New York Regional Office.
Recent Matters
• Lead trial lawyer for XO Communications, Inc., a public company majority owned by affiliates of Carl Icahn, in a $100 million breach of contract dispute arising from XO's acquisition of Allegiance Telecom, Inc.
• Represented Kenneth Lay, former CEO of Enron Corp., in Enron bankruptcy and related matters.
• Prosecuted to favorable settlement action seeking in excess of $270 million in damages for breach of contract, tortious interference, conversion, and related claims in connection with a breach of an investment advisory agreement. Successfully defeated a series of motions for summary judgment and for preliminary injunctions.
• Represented institutional investors who did not want to participate in a class action in the Wedtech Securities Litigation cases. Appointed by Judge Sands of the Southern District of New York to sit on the Plaintiffs’ Executive Committee, along with four class action law firms, to coordinate discovery and trial of hundreds of millions of dollars of claims against Wedtech, its officers and directors, and two “Big 5” accounting firms. The case was settled on the eve of trial, on terms that were more favorable to the institutional investor plaintiffs than to individual members of the class.
• Defended two separate public companies and their officers and directors in two securities class actions. In one case, obtained order dismissing the complaint, without leave to amend, at the pleading stage. In second case, obtained summary judgment dismissing the complaint on the merits after completion of discovery.
• Represented corporation in claims against inventor of technology product that was sold to corporation and defended against claims by inventor to regain control of valuable patents. After defeating motion for summary judgment, on eve of trial, favorably settled for nominal sum.
• Obtained recoveries for creditors ranging from 34% to 51% of amount invested while representing a committee of unsecured creditors in a bankruptcy arising from a “ponzi” scheme.
• Represents Audit Committees of public company in conducting internal investigations under Sarbanes-Oxley.
• Represented stock brokerage firm as a debtor in a Chapter 11 liquidation proceeding. Obtained broad releases for principals and representatives who contributed to a settlement fund thereby avoiding numerous arbitration and litigation claims that were brought against the settling parties.
• Obtained an Initial Decision from an SEC Administrative Law Judge, in a case of first impression concerning the application of various securities laws to automatic computerized trading programs, dismissing all claims of fraud and market manipulation against our client.
• Obtained a decision from an NYSE hearing panel dismissing four of six charges against a stock brokerage firm and nominal sanction on two other charges.
• After evidentiary hearings, obtained total dismissal of all claims against stock brokerage firm and their principals in a number of recent NASD arbitrations.
Bar Admissions & Memberships
• Admitted, New York Bar
• Admitted, United States Court of Appeals for the Second and Third Circuits; United States District Court for the Southern and Eastern Districts of New York
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