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Stricter Rules Governing “Foreign-Cubed” Claims For Attorneys
Andrew N. Vollmer
Partner, Securities Department, former Deputy General Counsel at the U.S. Securities and Exchange Commission
Wilmer Cutler Pickering Hale and Dorr LLP
Andrew Vollmer is a partner in the Securities Department, and a member of the Securities Litigation and Enforcement Practice Group. He returned to the firm in 2009 after serving as Deputy General Counsel at the Securities and Exchange Commission.
Practice
Mr. Vollmer's practice concentrates on securities enforcement, private securities litigation and internal investigations. In addition, he advises on matters related to the SEC's administration of the federal securities laws.
As Deputy General Counsel, Mr. Vollmer advised the Commission on matters such as enforcement actions, rulemakings, appellate briefs and adjudications. He also served briefly as Acting General Counsel. During his tenure at the SEC, Mr. Vollmer was involved in a variety of Commission initiatives, including the SEC's participation in several Supreme Court cases and the Commission's response to court review of SEC orders and rulemakings. He also worked on the Commission's proposal and adoption of rules addressing the brokerage activities of banks; the proposal and adoption of a rule to protect fund investors from fraudulent adviser conduct during the time of their investments; and the memoranda of understanding with the Federal Reserve and the Commodity Futures Trading Commission.
Publications
Mr. Vollmer has spoken and written frequently on securities law and related matters. For example, he has spoken often on various SEC topics including internal investigations at the Stanford Law School's Directors' College.
David S. Hoffner
Partner, White Collar and Securities Litigation
Dechert LLP
David S. Hoffner, a partner in the litigation department, represents clients in complex civil, regulatory and criminal matters. He focuses much of his practice on representing companies and individuals in class action securities and derivative litigation and criminal and regulatory
proceedings relating to securities.
Mr. Hoffner has represented numerous clients in connection with investigations and proceedings brought by the United States Securities and Exchange Commission and United States Department of Justice, as well as, on occasion, the New York State Attorney General’s Office, the New York County District Attorney’s Office, the New York Stock Exchange and FINRA. He has also helped spearhead a number of notable internal corporate investigations involving, among other things, accounting irregularities, insider trading, price fixing and other allegations of business improprieties. In connection with these and other matters, Mr. Hoffner has developed a particular expertise in representing accountants and auditors. In addition, a substantial part of his practice involves the representation of officers, directors, and/or corporations in connection with securities related class action and derivative litigation. Other areas of Mr. Hoffner’s litigation expertise include the representation of hedge fund investors, managers and other professionals in connection with civil and regulatory proceedings arising out of fund insolvencies.
Education: Duke University, B.A., magna cum laude, 1985; New York University School of Law, J.D., 1989, member of the Law Review
Joseph N. Sacca
Partner, Litigation
Skadden, Arps, Slate, Meagher & Flom LLP
Joseph N. Sacca represents a broad spectrum of domestic and foreign clients in complex corporate, commercial and securities litigation in federal and state courts and in arbitration proceedings.
Mr. Sacca has represented public corporations and accounting firms in some of the most significant securities litigations in recent years, including class actions against DaimlerChrysler AG and Cendant Corporation. He successfully defended DaimlerChrysler in the trial of a multibillion-dollar securities fraud action brought by Kirk Kerkorian's Tracinda Corporation, a victory the National Law Journal named the "Top Defense Win of 2005."
Mr. Sacca has also had substantial experience representing public corporations and private equity firms in litigation relating to all aspects of mergers and acquisitions, including hostile tender offers, shareholder actions and disputes arising from terminated merger agreements. Additionally, he has represented clients as plaintiffs and defendants in cases in the areas of civil RICO, tortious interference, fraud, contract, fiduciary duties and noncompetition agreements.
Mr. Sacca devotes substantial time to pro bono work. Among his successes in this area was his representation of plaintiffs in the trial of a housing discrimination case in which the jury awarded what was widely reported to be the largest verdict ever against a New York City cooperative.
Grace Lamont
Partner, Leader of the Securities Litigation Practice
PricewaterhouseCoopers LLP
Grace Lamont is a Forensic Services Partner in the New York City office of PricewaterhouseCoopers ("PwC") and National Leader of the US Securities Litigation Practice. She has also served on PwC's Extended Leadership Team for the New York Metro area. Ms. Lamont specializes in providing litigation support consulting, forensic accounting and fraud investigative services in the context of securities litigation, regulatory investigation proceedings and internal corporate investigations.
Ms. Lamont has acted in an expert capacity, providing accounting related testimony, and as arbiter in relation to accounting matters. Ms. Lamont has investigated financial statement frauds, employee embezzlements, management and employee kickbacks and FCPA matters. She has consulted with clients on SEC reporting implications, restatement of previously issued financial information and remedial corporate governance and internal control programs. Ms. Lamont's experience also includes financial statement audits for public and private operating companies in a range of industries including manufacturing, financial, wholesale and retail.
Clients have included prominent U.S. based international companies in addition to major foreign companies listed on US stock exchanges and have spanned a variety of industries including telecommunications, technology, healthcare, manufacturing, retail, hospitality, banking, insurance and legal. Examples of issues associated with these matters include: revenue recognition related to software revenue recognition, vendor rebates and leasing issues; reserve accounting; acquisition related matters; sub-prime debt issues; construction; and stock option related matters.
Ms. Lamont has practiced for over 20 years in both Europe and the U.S. She is a Certified Public Accountant and a member of the American Institute of Certified Public Accountants. Ms. Lamont is also a Chartered Accountant and member of the Institute of Chartered Accountants in England and Wales. She is the Editor and author of PricewaterhouseCoopers’ Securities Litigation Study and various articles dealing with securities litigation accounting issues. Ms. Lamont is a member of the Board of Editors for the Securities Litigation Report and is a frequent speaker at various conferences dealing with SEC regulation and securities litigation issues. In 2007, she graduated from the Partnership for New York City’s David Rockefeller Fellows.
Stricter Rules Governing “Foreign-Cubed” Claims For Attorneys
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