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Patrick
Hunnius
Senior Counsel
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Patrick Hunnius is Senior Counsel to DLA Piper's Litigation practice, based in Los Angeles.
Mr. Hunnius regularly represents both individuals and issuers in Securities and Exchange Commission, Department of Justice, NYSE, FINRA and other securities regulators’ inquiries. He also has extensive experience conducting internal investigations, including investigations related to alleged violations of the Foreign Corrupt Practices Act and financial fraud. Similarly, he has a wide range of experience in securities and complex business litigation, including defending clients in securities class actions and shareholder derivative actions.
Earlier in his career, Mr. Hunnius was an SEC enforcement attorney and for several years was the supervisor in charge of the SEC’s Los Angeles Regional Office's Internet Branch. At the Commission, he managed teams of attorneys who investigated and litigated a wide range of cases, including financial fraud, offering fraud, insider trading, market manipulation and alleged failures to supervise.
Current representative engagements include:
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Representation of an accounting firm in connection with the SEC’s investigation of the firm’s private equity fund client’s valuations for certain assets
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Representing a Chinese company and several of its officers and directors in a federal securities class action case
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Representing an oil and gas producer and several of its officers and directors in securities class actions and related derivative litigation relating to the producer’s acquisition of drilling and exploration rights in Alaska
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Representing the receiver appointed by the Central District of California to administer an estate associated with a nearly $1 billion alleged Ponzi scheme
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Representing a national broker-dealer in investigations relating to auction rate securities
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Engagements ranging from crisis-management counseling to representation before the SEC and NASD involving Chinese companies apparently targeted by short sellers
Significant recent experience includes:
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Represented a broker-dealer in connection with 50-state settlement with state securities commissions regarding auction rate securities
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Successful representation of an accounting firm in SEC investigation of its audit work for a hedge fund focused on life settlements. After receiving Wells notice, persuaded staff not to pursue enforcement action
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Represented a foreign private issuer in connection with a formal SEC investigation of alleged options backdating. The Commission ultimately took no enforcement action against the client
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Won summary judgment for a foreign sovereign in a commercial fraud case involving claimed damages in excess of $800 million (and dismissal of a related case involving $100 million in damages)
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Both coordinated a worldwide review of FCPA compliance for a $9 billion health care company with operations in more than 150 countries and conducted several extensive FCPA-compliance audits and internal investigations in Latin America, Asia and Eastern Europe
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Won motion to dismiss a class action in which a cable provider of VoIP telecommunications services was accused of slamming, fraud and violations of RICO, and winning the appeal, Clark v. Time Warner Cable, 523 F. 3d 110 (9th Cir. 2008)
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Obtained voluntary dismissal, on all claims, of a nationwide class action against a telecommunications provider accused of slamming, violations of California’s UCL and Legal Remedies Act
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Won summary judgment on all claims for a client in a dispute concerning the proposed sale of a $10 million property in La Quinta, California
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Won trial for an international watch distributor, on all claims, and
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Represented Log Cabin Republicans, both in its ultimately successful challenge to the government's "Don't Ask, Don't Tell" policy (Log Cabin Republicans v. United States of America) and as an amicus curiae in the California Supreme Court's cases concerning the constitutionality of Proposition 8
Admissions
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California
- United States District Court for the Central District of California
- United States Court of Appeals for the Ninth Circuit
Memberships
Publications
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Co-author, "Insider Trading: Is the 'Mosaic Theory' a Viable Defense to Insider Trading Charges against Hedge Fund Managers Post-Galleon?," The Hedge Fund Law Report, December 15, 2011
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"The SEC Should Own Up to Its Botched Madoff Investigation," Daily Journal, February 2009
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"Recent Changes in Sovereign Wealth Fund Investment Activity Raise the Prospect of Unprecedented and Unpredictable FCPA Risks," Bloomberg Corporate Law Journal, February 2008
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Co-author, "White Collar Defendants Beware – Crime Victim Restitution Now Includes Your Home as Well as Your 401(k)," California Litigation Report, October 2007
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Co-author, "White Collar Defendants Beware – In the 9th Circuit, Your Retirement Benefits May Be Subject to Seizure," California Litigation Report, June 2007
Seminars
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Panelist, "Litigation Involving Chinese Issuers," the PIPEs Conference 2011, New York (November 2011)
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"Foreign Corrupt Practice Act – Stay on the Right Side of the Law," The Valley International Trade Association, Sherman Oaks, California (July 13, 2011)
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Panelist, "Liability for Securities Law Violations," Practicing Law Institute's Understanding the Securities Laws 2010, Chicago (November 16, 2010)
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Panelist, "Recent International Developments in PIPEs Litigation Involving US and Chinese Targets," The PIPEs Conference 2010, Las Vegas (November 9, 2010)
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"Constructing FCPA Compliance Programs in Latin America," Legal IQ's Foreign Corrupt Practices Act Conference, San Francisco, June 2008
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"Civil and Criminal Liability in Performing Fraud Investigations," AICPA's 2006 Conference on Fraud and Litigation Services, Las Vegas, September 2006
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"Liability to Accountants and Lawyers In Performing Special and Independent Investigations of Fraud," California Society of Certified Public Accountants – Fraud Section, Los Angeles, February 2006
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