DLA Piper announces its formation of a China Securities Litigation Rapid Response Team, consisting of a highly experienced international group of securities litigators and former SEC enforcement lawyers, to aid companies and senior management affected by the dramatic uptick in securities litigation and government investigations directed at Chinese-based companies listed on US exchanges.
In the past several months, China-based issuers, including several that went public via reverse shell mergers, have been subjected to a wave of securities class action and derivative lawsuits, FINRA inquiries and SEC investigations. The underwriters of these reverse mergers also have been named and sued in many of these actions. DLA Piper is a leader in defending companies against this trend, and currently is advising China-based, US-listed companies and underwriters in more than a dozen active matters, including civil securities fraud class actions and derivative actions, SEC and FINRA investigations and audit-committee independent investigations.
For nearly a decade, DLA Piper and its predecessor firms have represented US and Asian domestic and international market participants, including many Chinese issuers traded in the US, as well as underwriters and placement agents with respect to those transactions in a wide range of securities litigation and enforcement matters. DLA Piper’s advice includes pre-litigation crisis management counseling, securities class actions, shareholder derivative actions, internal investigations, SEC investigations, FINRA investigations, delisting inquiries, and other related litigation.
The new China Securities Litigation Rapid Response Team consolidates DLA Piper’s global capabilities into one focused group that will assist clients to protect against potential litigation in the US and, if necessary, to provide immediate and aggressive defense against any allegations, investigations or lawsuits that occur.
“DLA Piper is the only firm in the world with an integrated team of litigation lawyers based in the PRC, Hong Kong and throughout the United States who are experienced in US securities litigation and regulatory enforcement actions,” noted Perrie Weiner, International Co-Chair of Securities Litigation. “Many of these lawyers are multi-lingual and have practiced in multiple countries, which gives our team a tremendous advantage in understanding cross-border legal challenges and cultures, and the ability to counsel our clients effectively regarding the key issues.”
The team contains numerous alumni of the Securities Exchange Commission’s Enforcement Division and former Assistant United States Attorneys, which helps to provide clients with a seamless team that can advise simultaneously on civil, regulatory and white collar fronts.
Sammy Fang, Head of DLA Piper’s Litigation and Regulatory Group in Beijing, added, “Unlike other firms who claim experience in this region, the Asia-based litigators on this team all have decades of experience with these types of matters and work in tandem with our US-based team on a daily basis.”
The China Securities Litigation Rapid Response Team is comprised of more than two dozen professionals located in every key financial center, among them including Perrie Weiner, Nick Morgan, Robert Weber and Patrick Hunnius (Los Angeles), Caryn Schechtman and Kip Hall (New York), Jeff Coopersmith (Seattle), Robert Brownlie (San Diego), Lou Mejia, Deborah Meshulam (Washington, DC), Yuet Ming Tham (Hong Kong) and Sammy Fang (Beijing).
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