DLA Piper is a leader in securities litigation defense. We represent public corporations, individual officers and directors of corporations, underwriters, accounting firms, and investment advisers in every area of securities litigation. Our practice is national, but we have a substantial presence in the busiest jurisdictions for privately litigated securities claims, including Silicon Valley and New York.

When securities litigation arises in the context of a broader corporate crisis, we work closely with our white collar and securities enforcement teams to assist clients in related civil and criminal investigations, enforcement proceedings, congressional inquiries and criminal trials.


In the litigation of securities fraud claims under the Securities Exchange Act of 1934 and claims for violations of the Securities Act of 1933 in connection with public offerings, we have an outstanding track record in obtaining dismissal at the pleadings stage before the costs and intrusions of discovery. 

We have defended cases resulting in landmark decisions, including the first reported defense win under the Private Securities Litigation Reform Act of 1995, Zeid v. Kimberley (Firefox), 930 F.Supp. 431 (N.D. Cal. 1996), and the first reported appellate decision affirming the dismissal of an accounting fraud case under that statute, In re The Vantive Corporation Securities Litigation, 283 F.3d 1079 (9th Cir. 2002).

In addition to defending claims of securities fraud, our securities litigators have had extensive experience and success in defending non-fraud based securities claims registration statements in public and private offerings, where scienter is not an element of the claim. In Krim v. pcOrder.com, Inc., 402 F.3d 489 (5th Cir. 2005), we obtained a groundbreaking decision strictly limiting the potential claimants who can pursue a class claim under section 11 of the Securities Act of 1933 that has been followed in jurisdictions around the nation.

In cases that have not been dismissed, our trial lawyers have the experience and creativity necessary to resolve these matters to our clients' satisfaction, whether by obtaining summary judgment, by defeating a motion for class certification, or by trying the matter to verdict.


We regularly defend stockholder derivative lawsuits and actions asserting claims of breach of fiduciary duty against corporations, limited liability companies, partnerships, and their directors, officers and managers.

Lawyers in our office in Wilmington, Delaware regularly defend these actions in the Delaware courts making us one of the few international firms that can provide such onestop representation in this important jurisdiction. Beyond Delaware, however, we have corporate governance litigators with deep knowledge of the corporate laws of other US jurisdictions under which large numbers of businesses are organized, including California, Maryland, Massachusetts and New York.

We advise boards of directors on the complex issues they must address when a derivative claim is asserted. We help directors understand whether a stockholder derivative claim is a corporate asset that should be pursued or a strike suit that represents a potential drain on corporate assets and management attention.

Our experience in stockholder derivative litigation also enables us to coordinate the defense of derivative claims asserted in conjunction with claims of alleged securities fraud.


Securities litigation often is accompanied by investigations and enforcement proceedings brought by the SEC, the Department of Justice or self-regulatory organizations. We regularly assist our clients in formal and informal government investigations, enforcement proceedings, internal investigations and congressional and grand jury proceedings. We apply our experience and judgment to determine whether such actions call for a cooperative approach or a more aggressive strategy. When litigation is necessary and advisable, we have the experience to get results.

We staff multi-faceted matters with experienced lawyers, including securities class action professionals, former federal prosecutors and former enforcement staff from the SEC. Our experience enables us to guide clients through each phase of a matter as regulatory proceedings evolve into civil litigation. Our cohesive, integrated teams ensure that clients are defended on many fronts consistently and simultaneously.

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