Kenneth I. Schacter

Ken gained valuable experience as an Assistant US Attorney for the Southern District of New York, handling many groundbreaking insider trading cases, including the so-called “Yuppie Five” case and major prosecutions of other corporate insiders. While an Assistant US Attorney, Ken also investigated and prosecuted cases involving financial frauds, tax evasion, official corruption, arms smuggling and terrorism.

• Secured dismissal of all claims against a major national bank in a series of putative class actions arising from a Ponzi scheme described by the Department of Justice as one of largest such schemes in US history
• Secured dismissal of all claims against a major broker-dealer by a former customer, who claimed the broker assisted her ex-husband in converting over $30 million of her assets
  Successfully represented a Fortune 100 company and manufacturer of GPS devices in connection with claims arising from FCC-filed objections to a proposed new broadband wireless network in which all claims against the company were withdrawn and all of its defense costs were paid by the plaintiff
• Secured dismissal of all claims against a regional broker-dealer in a putative class action asserting Securities Act claims relating to IPOs of real-estate investment trusts (REITs), and in a second putative class action brought by IRA holders concerning valuation of the REITs, with both dismissals affirmed on appeal
• Obtained reversal on appeal of a $20 million judgment against a mortgage originator and seller, and an attorneys’ fee award of more than $1.7 million in favor of the client, later affirmed on appeal
• Secured dismissal at the pleading stage of all claims against a major bank sued by a former customer for terminating his banking relationship
• Represents two global banks in separate cases alleging anti-competitive activity in the markets for benchmark rates
• Represents the former Chief Executive Officer of a China-based company and a former Director of a public company in two unrelated putative securities class actions pending in the SDNY
• Represents a foreign municipality in a case pending in the SDNY arising from a loan for the development of real estate in the foreign country and an unrelated foreign sovereign in another SDNY case brought by a former public relations consultant for the sovereign
• Represented a major broker-dealer in a series of customer arbitrations before FINRA and in litigation in New York state court relating to more than $90 million in trading losses incurred during the 2008 financial crisis
• Secured summary judgment in favor of a major broker-dealer in an action in New York state court concerning the sale of commercial mortgage-backed securities
• Obtained a complete defense award in a FINRA proceeding brought against a major broker-dealer by a former registered representative claiming wrongful discharge
• Secured dismissal of all claims against a global bank in SDNY actions alleging bid-rigging in the municipal derivatives market
• Obtained complete defense awards in favor of a major broker-dealer in three separate FINRA arbitrations brought by former clients in the wake of the bursting of the tech bubble
• Represented a large multinational company sued by a hedge fund in a securities fraud case
• Represented a global financial services firm in numerous individual and class actions filed by investors in mortgage-backed securities asserting claims under the Securities Act of 1933 and state Blue Sky laws
• Represented a government-sponsored enterprise (GSE) in a number of putative class and derivative actions alleging misrepresentations and omissions in the GSE’s public filings
• Secured dismissal of all claims against a major broker-dealer in a putative class action arising from the client’s bank sweep practices
• Represented a major manufacturer of TFT-LCD panels in connection with class and individual actions alleging price-fixing of panels used in TVs, computer monitors, laptops, cell phones and other products
• Represented a former senior executive of a major technology company charged as a tipper in an insider trading case
• Represented the departmental chair of one major New York medical school in a False Claims Act investigation concerning Medicaid billings and, in a separate matter, the departmental chair of another major New York medical school in an investigation concerning the use of NIH research funds
• Obtained a trial verdict in favor of a direct mail marketer in a civil False Claims Act case brought by the US Department of Justice
• Represented a Japanese pharmaceutical company in the prosecution of a $750 million civil RICO and securities fraud action against the seller of a US generic drug company
• Represented a perfume manufacturer in a securities fraud class action arising from the company’s public statements about a new cosmetic product
• Represented acquiring and selling companies in numerous actions and arbitrations relating to earnouts
• Represented the former CEO of a leading financial services firm in a securities fraud class action and other litigation arising from the collapse of the company
• Represented a Japanese manufacturer in a wrongful death action
• Represented two Japanese industrial manufacturers in separate price-fixing cases, both involving criminal investigations and putative class actions
• Represented an investment adviser in litigation brought by the estate of a former client alleging fraud and breach of contract in the handling of the client’s managed account
• Represented a well-known manufacturer of time management products in a securities fraud case arising from its acquisition of a calendar manufacturer
• Represented a large, internationally recognized jeans manufacturer in a lengthy battle for corporate control
• Represented a group of investors victimized by a Ponzi scheme orchestrated by a partner in one of the United States’ leading law firms
• Represented a hedge fund in a lengthy and complex antitrust and securities manipulation case relating to the well-publicized “squeeze” of the Treasury market in 1991
• Represented a broker-dealer in several litigation and arbitration proceedings concerning copyrighted securities trading software and claims of “raiding” by other firms
• Represented a major pharmaceutical company in an action to enjoin a former business partner from terminating a contract for development of a new drug on the threshold of FDA approval