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1152 Fifteenth Street, NW, Suite 850
Washington, D.C. 20005
United States of America
P: +1 202.729.7479
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919 Third Avenue
New York, New York 10022
United States of America
P: +1 212.756.2032
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Richard J. Morvillo, a partner in our Washington, D.C., office has, for more than 30 years, made the focus of his practice SEC enforcement, related white-collar criminal matters and private securities litigation. A former branch chief with the Securities and Exchange Commission's Division of Enforcement, Rich represents corporations, corporate executives, brokerage firms, investment advisors, accounting firms, auditors, law firms, hedge funds and individual investors in connection with SEC, PCAOB, NYSE, FINRA, Congressional, state attorney general and grand jury investigations; SEC litigation; and complex securities cases. In addition to litigating to a successful judgment a number of SEC enforcement cases and defending numerous class actions and shareholder derivative suits in federal courts throughout the country, Rich has conducted many internal investigations for corporations, and advised members of numerous special committees of boards of directors as to their rights and obligations regarding the handling and evaluation of corporate transactions, internal investigations and shareholder litigation.
Chambers USA called Rich “one of the deans of the securities enforcement bar.” He is also listed as a leading litigator in numerous other peer-review publications, including Benchmark Litigation, The Best Lawyers in America, Ethisphere: Attorneys Who Matter, Washington DC Super Lawyers, The Legal Times (which named him one of Washington’s “Top 10 Securities Lawyers”) and Washingtonian Magazine. He is a frequent speaker at professional seminars and serves as the co-chair of two PLI annual programs: “Internal Investigations” and “Auditor Liability.” He has served on the adjunct faculty of Georgetown University School of Law, teaching a course in “Professional Responsibility in Corporate and Securities Practice.” Rich received his J.D. from Fordham University School of Law and his A.B. from Colgate University.
Selected Representations
Representing former ABS trader in Congressional and other investigations.
Representing for CFO of Citi Asset Management in federal securities class action.
Representing investment advisor in SEC investigation regarding ETFs.
Representing CFO of large financial services company in SEC subprime investigation.
Representing investment advisor in SEC investigation into CDO transactions.
Representing accounting firm in SEC investigation regarding possible accounting fraud.
Representing large international law firm in DOJ NYDA and SEC investigations of former partner’s activities.
Representing large investment advisor in connection with internal inquiry concerning trading activities.
Representing special committee of board of publicly held company in matters related to shareholder demand.
Representing accounting firm in SEC inquiry regarding foreign registrants.
Representing former CFO of Take Two Interactive Software in derivative litigation.
Significant Litigation Achievements
Represented former Chief Marketing Officer of Royal Ahold subsidiary in successful appeal vacating convictions for securities fraud and related offenses.
Defeated the SEC in a jury trial on insider trading charges against the chairman of a large communications company.
Defeated the SEC after a bench trial on fraud charges against an attorney for participating in a fraudulent offering by a public company.
Obtained summary judgment against the SEC in a civil injunctive action against a former Citigroup/SSB executive.
Obtained dismissal of SEC charges after an administrative trial concerning an investment banker’s alleged participation in a fraudulent offering.
Obtained dismissal of class action claims against Wachovia Corp. (formerly First Union) related to the acquisitions of CoreStates Financial Corporation and The Money Store.
Obtained dismissal of a class action against TD Ameritrade, Inc. in an options trading case; handled appeal when decision affirmed.
Obtained summary judgment and affirmation by the Eleventh Circuit in favor of a former chairman of Enstar Corp. in a securities fraud class action.
Selected Publications
“Hedge Funds in the Crosshairs: The Law of Insider Trading in an Active Enforcement Environment,” The Hedge Fund Law Report, Feb. 17, 2010
“Tougher PCAOB Enforcement Agenda Ahead,” ABA Professional Liability Litigation Winter 2010 Newsletter, 2010
“PCAOB Strategic Goals and Budget Foreshadow Tougher Enforcement Agenda,” SRZ Client Alert, Dec. 8, 2009
“Ramifications of a Seaboard Policy for Individuals,” Compliance Week, Sept. 15, 2009
Editor, “Securities Investigations: Internal, Civil, and Criminal,” PLI, 2008
“Five Years is Enough for a Civil Penalty Assessment: No ‘Discovery of Violation’ Rule for the SEC under 28 USC. §2642,” Securities Regulation and Law Report, Vol. 39, No 16, at 635, BNA, April 23, 2007
“Counseling Clients in a Highly Regulated Environment,” Inside the Minds: The Art & Science of Securities Law, Aspatore Books, 2005
“The Misappropriation Theory: A Theory Unleashed From Its Statutory Origins,” Securities News , Spring 1999
“Prehearing Procedures under the SEC’s New Rules of Practice,” Insights, Vol. 9, No. 9, September 1995
“Caught in a Double Bind,” The National Law Journal, Vol. 13, No. 39, June 3, 1991
“Testimonial Waiver of the Fifth Amendment in SEC Investigations,” The Review of Securities & Commodities Regulation, Vol. 22, No. 11, June 7, 1989
“Short-Swing Profits and Defeated Takeover Contestants,” The Review of Securities & Commodities Regulation, Vol. 20, No. 12, June 24, 1987
“Accountant’s Liability to Third Parties,” The Review of Financial Services Regulation, Vol. 2, No. 18, Oct. 29, 1986
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Selected Speaking Engagements
“Fraud in the Industry,” IBA 11th Annual Private Investment Funds Conference, London, March 2010
“Regulatory Enforcement,” SRZ 19th Annual Private Investment Funds Seminar, New York, January 2010
Co-chair, PLI Annual program on Internal Investigations programs, 2006–2010
Co-chair, PLI Auditor Liability in the Current Environment Webinar, October 2009
Frequent lecturer at PLI, ABA and other professional programs
Co-chair, PLI program on Auditor Liability in the Current Environment programs
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Memberships
American Bar Association
Section on Litigation
Committee on Securities Litigation
Chair, Subcommittee on SEC Enforcement, 1990–94
Chair, Subcommittee on Professional Issues,1989–90
Section on Corporation, Banking and Business Law
Committee for Federal Regulation of Securities
Adjunct Faculty, Georgetown University School of Law, 1988–94
Graduate course in “Professional Responsibility in Corporate and Securities Practice”
Other Distinctions
Listed as a leading litigator in many publications including:
- Chambers USA (national: regulatory enforcement & investigations, and national: securities regulation enforcement)
- Benchmark Litigation (securities)
- The Best Lawyers in America (corporate governance & compliance law and administrative law & white-collar defense)
- Ethisphere: Attorneys Who Matter
- Washington DC Super Lawyers (securities)
- The Legal Times (named one of Washington’s “Top 10 Securities Lawyers”)
- Washingtonian (listed among D.C.’s “Top Lawyers”)
Bar Admissions
Court Admissions
- U.S. Supreme Court
- U.S. Court of Appeals, Second Circuit
- U.S. Court of Appeals, Third Circuit
- U.S. Court of Appeals, Fourth Circuit
- U.S. Court of Appeals, Eleventh Circuit
- U.S. Court of Appeals, District of Columbia
- U.S. District Court, District of Columbia
- U.S. District Court, District of Maryland
- U.S. District Court, Eastern District of New York
- U.S. District Court, Southern District of New York
Education
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Fordham University School of Law, J.D., 1974
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Colgate University, B.A., 1970
Prior Experience
Securities and Exchange Commission
Branch Chief, Division of Enforcement