A&O Shearman‘s securities litigation practice has a strong record in acting for the world’s largest underwriting banks, and has further broadened its client base to include big-name public companies, notably in the technology sector. The work of San Francisco-based partner Daniel LaGuardia for Uber Technologies in a securities class action arising from its 2019 IPO is a prime example. The practice is led from New York but standout litigator Adam Hakki and global litigation practice group Richard Schwed . Hakki is widely acknowledged as a leading practitioner in this area, and his victory for Paramount Global in a securities class action litigation arising from the historic collapse of Archegos Capital Management is a standout case from the past year. Also in New York, Daniel Lewis and up-and-coming partner Agnès Dunogué are highly visible in the market, as is regulatory enforcement and securities litigation specialist Lyle Roberts in Washington DC. Houston-based Mallory Brennan and Samuel Cooper, and former federal prosecutor Patrick Hein in San Francisco also plays a key role in securities fraud cases. Patrick Robbins left the firm in 2023 to join the DOJ.
Legal 500 Editorial commentary
Key clients
- Paramount Global
- Sea Limited
- Domo, Inc.
- electroCore, Inc.
- DraftKings
- PayPal
- Silicon Valley Bank (SVB)
- Uber
- Pattern Energy
- Waitr
- Bank of America
- SAP
- Hawaiian Electric
- Intercontinental Exchange Inc. (ICE)
- Opendoor Technologies
- Taro Pharmaceutical
- Morgan Stanley (VRDO)
- Underwriters in Bumble Inc. secondary public offering
- Dingdong
- Coupang
- Lumen Technologies, Inc
- Officers and Directors of BlockFi Inc.
- Altice USA, its Board of Directors, and Altice Europe
- Liberty Oilfield Services Inc., its Officers and Directors, and Funds Affiliated with Riverstone Holdings
- Baker Hughes Inc. Directors and Officers
Work highlights
- Won a significant and complete victory for Paramount Global (formerly named ViacomCBS) in a high- profile and closely-watched securities class action litigation arising from the historic collapse of Archegos Capital Management. ViacomCBS was one of the companies whose share prices were swept up in the March 2021 liquidation of Archegos, a family office run by billionaire investor Bill Hwang, who later was indicted for his conduct.
- Achieved a significant victory on behalf of Sea Limited in a Securities Act case before Justice Borrok in the New York State Supreme Court. Sea Limited is a Singaporean consumer-internet technology company, that has three distinct business segments: Garena (digital entertainment), Shopee (e-commerce), and SeaMoney (financial services). This case relates to Garena, and specifically its mobile gaming app Free Fire, which is a first-person battle royale game, and was at times over the last several years the most popular game globally.
- Obtained an important and precedent- setting litigation victory on behalf of underwriters Morgan Stanley & Co., LLC, Credit Suisse Securities (USA) LLC, Allen & Co., LLC, William Blair & Company LLC, UBS Securities LLC, Cowen and Company LLC, and JMP Securities LLC in the Utah Court of Appeals in which the court affirmed a 2021 trial court decision dismissing a putative securities class action related to the 2018 IPO of Domo, Inc.
Lawyers
Hall of Fame
The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.
Next Generation Partners
Junior partners with significant recognition from clients and peers in the market and key roles on multiple matters.
Practice head
The lawyer(s) leading their teams.
Adam Hakki, Richard Schwed