Our attorneys are well-versed in the issues that affect our clients in every sector of the financial services industry and have significant experience in handling high-profile matters.
Pastore attorneys regularly serve as counsel in securities cases, representing broker-dealers, issuers, specialists, market makers, transfer agents, underwriters, hedge funds, investment advisors, venture funds, insurers and investors in state and federal courts as well as in (FINRA) arbitrations. Our attorneys have an active practice advising broker-dealers on a wide range of issues including the issuance of securities, regulatory investigations, customer inquiries, general brokerage and sales practices and corporate transactions (such as formation, purchases, and sales of broker-dealers, hedge funds and investment advisors). Our experience includes representing the nation’s largest specialist firm, the nation’s largest transfer agent, leading brokerage firms, hedge funds and venture funds and the nation’s largest mortgage lender.
Our attorneys have been general counsel of large Wall Street brokerage firms, and our partners are veterans of the New York Stock Exchange, Inc., Skadden Arps Slate Meagher & Flom LLP, Proskauer Rose LLP, Kelley Drye & Warren, McDermott Will & Emery, Paul Weiss Rifkind Wharton & Garrison LLP, Mayer Brown LLP, and other highly respected Wall Street law firms and financial services companies. One of our Partners also served for four years on the Board of Directors, Regulatory Oversight Committee (including a term as Chair) and the Nominating & Governance Committee of Direct Edge, a national securities exchange.
Our securities attorneys have extensive knowledge of federal and state securities laws as well as FINRA and NYSE rules. This experience enables us to provide advice on disclosure and regulatory matters, and to assist clients in all aspects of preparation and processing of registration statements and ongoing reporting requirements. Our attorneys have significant experience in representing clients on regulatory matters involving both FINRA and the SEC.
Among a number of notable cases, our attorneys have handled some of the seminal securities industry litigation over the last decade, including one of the most extensive and complex securities arbitrations in the nation as well as claims involving the ownership of securities trading systems, residential mortgage backed securities, structuring and stock loan disputes. Our attorneys have handled regulatory investigations involving some of the most sophisticated new securities offerings, such as SPAC. Pastore offers expertise in high-profile broker-dealer and fund disputes as well as bank conversion litigation, reinsurance litigation and arbitration and bankruptcy litigation.
- Represented a Korean securities firm and its Malaysian offshore subsidiaries in the United States District Court for the Southern District of New York in connection with claims of fraud, violation of Korean and of U.S. securities laws and Korean usury laws. Defended counterclaims alleging breach of contract arising from transaction and seeking damages in excess of $250 million.
- Successfully represented member in broker-dealer in connection with the return of millions in capital withheld by broker-dealer upon withdrawal by member.
- Represented a large custodial bank in connection with $4.6 billion matter brought by the SEC presently pending in the Southern District of New York. Claims involve right to indemnification in connection with liquidation of $40 billion money market fund.
- Represent broker-dealers and third-party service providers in connection to residential mortgage-backed securities litigation in national class actions in Federal Court, State Court and before FINRA.
- Represented a large custodial bank as intervenor in dispute over allocation of liquidating funds’ assets, and successfully interplead funds into the court registry.
- Successfully compelled arbitration before Second Circuit between NASD members concerning a $70 million dispute over raiding, misappropriation of research reports and copyright infringement seminal decision on the issue of arbitrability of copyright disputes.
- Represented a FINRA member and investment banking firm in an action for breach of contract and other related claims, against a client who failed to pay placement fees from financing events. Claims involved timing of tail period. Recovered a judgment of over $1.3 million for the client, in excess of 100% sought at settlement.
- Represented one of the nation’s largest banks in over 100 cases nationally involving banking and securities issues.
- Served as coordinating counsel for broker-dealers in securities class action suit in the United States District Court for the District of Northern Texas. Claims were predicated upon alleged material misrepresentations in connection with the offering of convertible notes.
- Asserted claims of fraud arising from a national warrant call and redemption. Action involved issues surrounding derivatives, warrant arbitrage and hedging and SEC regulations concerning amendments to public offers.
- Represented a multibillion-dollar venture fund in connection with claims of breach of fiduciary duty and oppression of minority shareholder rights in New York Supreme Court. Claims centered upon a second round investment in a well-known Internet company.
- Represented a large national bank in dispute with bank lending group over syndicate loan. Successfully dismissed initial claims, including claim of breach of fiduciary duty. Claims exceeded $30 million.
- Represented limited partnership in connection with derivatives hedge fund investment and side pocket dispute. Claims center on ISDA definitions, and exceed $20 million.
- Represented 1031 trust company in connection with claims against 1031 exchangers associated with prosecution of FINRA arbitration concerning naked options and trading accounts.
- Represented departing principal in connection with return of capital and control over structure of broker-dealer.
- Successfully defended nation’s largest transfer agent in Texas District Court and Court of Appeals in action for declaratory relief with respect to ownership of certificates for shares valued at over $3 million held by transfer agent. Successfully defended transfer agent from subsequent claims of wrongful transfer under the Uniform Commercial Code. Action received considerable notoriety in Texas.
- Represented a consortium of investors in connection with claims arising from the conversion of a mutual savings bank into a stock savings bank. Successfully argued appeal of Banking Commissioner’s Decision denying clients’ rights to purchase hundreds of thousands of new bank shares.
- Defended a prime brokerage firm in connection with claims of unlawful tapping of telephone calls on its trading desk in violation of California law. Successfully removed action from State Court, successful stay of action in favor of NASD Arbitration in Federal Court. Favorably settled matter for clients.
- Served as lead counsel and represented transfer agent in the United States District Court for the Northern District of California (successfully removed from California Superior Court) in action predicated upon alleged mis-delivery of transmittal letter intended for exchange agent. Action stayed in favor of arbitration.
- Successfully defeated two motions to dismiss breach of contract and fraud claims in connection with claims of $25 million wrongful warrant call by NASD issuer. Action stayed by bankruptcy of issuer.
- Prosecuted action on behalf of a broker-dealer based upon fraudulent conduct in connection with warrant call and redemption.
- Defended financial institution in connection with claims of fraud and breach of contract in loan guarantees. Successfully conducted fairness hearing for national settlement in Southern District of New York.
- Obtained Appellate Court of Connecticut ruling that there is no jurisdiction over custodian of retirement investment accounts where defendant merely acted as custodian of accounts held by Connecticut residents without any other substantial interaction with the residents. Argued appeal. Appeal affirmed.
- Served as lead counsel and represented transfer agent in the United States District Court for the Eastern District of Virginia in action seeking to enforce transfer of shares under Article 8 adverse claim proceeding.
- Served as lead counsel and represented transfer agent in the United States District Court for the District of New Jersey in an action predicated upon breach of transfer agent agreement and indemnification for claims of wrongful transfer.
- Represented a transfer agent in United States Bankruptcy Court for the Central District of Texas in Chapter 11 bankruptcy proceedings.
- Represented a multinational corporation in securities litigation class action suits in the United States District Court for the Central District of California.
- Represented a large regional clearing corporation in connection with third-party discovery.
- Represented broker-dealers and individual financial advisors in customer arbitration involving, among other claims and securities, fixed-income instruments, options, churning, unsuitability, selling away, Exchange Act Section 10(b), Rule 10b-5 and consumer fraud.
- Represented an investment bank in connection with investment banking fee dispute against an Indian based mining conglomerate at the U.S Bankruptcy Court, the District of Delaware, U.S District Court Delaware and the Third Circuit.
- Successfully represented a national investment banking firm in a complex securities and M&A matter in connection with claims arising from a derivative rights holder agreement and related investment banking engagement agreements in the United States District Court for the District of Nebraska and the Eighth Circuit Court of Appeals.
- Represented a national investment banking firm in connection with claims brought by a former director and officer of an acquired broker dealer in the Delaware Chancery Court.
- Represented multibillion-dollar private equity firm in connection with claims brought by the SEC.