James C. Dugan is a partner in the Litigation Department, focusing on complex commercial and federal securities litigation. He has more than 20 years of experience representing Fortune 500 companies, hedge funds, private equity firms, C-level executives, and accounting and financial services firms in securities class actions, shareholder derivative litigation, bankruptcy litigation, contract disputes, and restrictive covenant and non-competition litigation.
Federal Securities and Business Litigation
- Represent Charles Ergen and SPSO, an investment vehicle formed by Mr. Ergen, in LightSquared adversary proceeding and plan confirmation dispute over approximately $1 billion investment.
- Represent MPM Silicones, LLC and affiliated entities in appellate litigation over confirmed plan of reorganization.
- Represent Tower Group International in securities class action alleging purposefully understated insurance loss reserves.
- Represent Hyperion Insurance Group in litigation over alleged violations of non-competes.
- Successfully defended portfolio company of a major venture capital fund against breach of contract and business tort claims by company’s founders.
- Represented the U.S. Chamber of Commerce as an amicus in Janus Capital Group, Inc. v. First Derivative Traders and Erica P. John Fund, Inc. v. Halliburton Co. in the U.S. Supreme Court.
- Represent SIFMA as an amicus in Omnicare, Inc. v. Laborers District Council Construction Industry Pension Fund in the U.S. Supreme Court.
- Successfully represented the former CFO of Merrill Lynch in shareholder derivative litigation arising out of subprime mortgage debt crisis.
- Successfully represented an Irish law firm in class action litigation arising from the collapse of the Madoff Ponzi scheme.
- Successfully represented big four accounting firm in litigation to enforce a non-compete agreement against former partners.
- Successfully represented plaintiff property developers at trial for specific performance arising out of Right of First Offer violations.
- Successfully represented major manufacturer of copper tube and plumbing supplies in lawsuit against former President involving claims of breach of fiduciary duty and unfair competition.
- Successfully defended Big Four accounting firm against shareholder derivative and class action securities fraud claims arising out of accounting fraud.
- Successfully defended Big Four accounting firm against fraud claims arising from tax shelter investments.
- Successfully represented former CFO of major European telecommunications company in connection with federal securities class action.
- Represented former CFO of entertainment and media company in federal securities class action litigation arising out of accounting fraud.
- Successfully represented insurance company in claims against its former investment advisor arising from failed CDO investments.
- Successfully represented plaintiff senior executive of a major business conglomerate in arbitration to enforce a retention agreement.
- Successfully represented the bankruptcy estate of former major publishing company at trial over stolen securities.
- Successfully defended Big Four accounting firm against claims of professional malpractice and fraud arising from client’s failed acquisition of a consumer business.
Compliance, Enforcement, and Corporate Internal Investigations
- Represent CFO of a hedge fund that invested with Bernard Madoff in connection with regulatory investigations and litigation.
- Successfully represented former CFO of company providing voice and data network services in connection with SEC investigation and shareholder derivative litigation involving allegations of stock option backdating.
- Conducted Audit Committee investigation of accounting improprieties at Dell, Inc.
- Conducted independent counsel investigation of accounting improprieties at a news media company in connection with a restatement.
- Conducted independent counsel investigation of alleged accounting improprieties at foreign subsidiary of a Fortune 500 company resulting in a restatement of the company’s financial statements.
- Conducted independent counsel investigation of alleged accounting improprieties at a U.S. subsidiary of a publicly traded foreign company.
- Successfully defended SEC reviewing partner in a 102(e) proceeding arising from accounting irregularities at a media company.
- Represented Big Four accounting firm in connection with internal corporate investigation and SEC investigation arising out of a restatement.
- Represented an entertainment company CFO in an SEC and Department of Justice investigation of accounting irregularities.
- Conducted investigation of FCPA violations at foreign subsidiary of a Fortune 500 company.
- Represented audit committee members of a Fortune 500 company in SEC enforcement proceeding involving improper revenue recognition practices.
- Represented major hotel and casino operator and CFO in the first SEC enforcement case involving regulation FD.
Jim served as a law clerk to the Honorable Charles H. Tenney, United States District Judge, Southern District of New York (1993-94).
Jim is a member of the American Bar Association, the American Counsel Association, the Federal Bar Council, and the City Bar Association. He currently serves on the Hedge Fund and Capital Markets Litigation Committee of the New York State Bar Association. Previously he served on the Law360 Editorial Advisory Board for Securities and the Executive Board of the Cornell Law Association.
Jim is the author of the following publications:
"Closing Time: You Don’t Have to Go Home, But You Can’t Stay Here" (how foreign litigants are increasingly unable to recover in U.S. courts for injuries suffered abroad) The Business Lawyer (August 2012).
- "District Court, Applying Janus Broadly, Rules Against the SEC in Securities Fraud Case" Financial Fraud Law Report (February 2012).
- "Supreme Court Adopts Rule of Narrow Construction for Rule 10b-5," New York Law Journal (June 23, 2011).
- "The Halliburton Oral Arguments: The Supreme Court Grapples with the Role of Loss Causation in Class Certification" Securities Litigation Report (June 2011).
- "Recent Developments in Securities Law" (Aspatore Books, 2010).
- "The Future of Secondary Actor Liability under Rule 10b-5 After Stoneridge Investment Partners, LLC v. Scientific-Atlanta, Inc." NYU Journal of Law and Business (Summer 2009).
- "The Special Inspector General for TARP: the New Enforcer and the Next Wave of Investigations" Financial Fraud Law Report (September 2009).
- "TARP Enforcement: Latest Developments and Insights" The Metropolitan Corporate Counsel (July 2009).
- "A Primer on Securities Litigation and Enforcement in an Economic Crisis" (Aspatore Books, 2009).
- "Whither Stoneridge Investment Partners v. Scientific-Atlanta? The Early Results," New York Law Journal (July 8, 2008).
- "Civil Liability under the Securities Act of 1933" in Sommer, Federal Securities Act of 1933 (Matthew Bender, 2008) (co-author).
- "Our Forbidding Litigation Environment Can Be Changed," The Metropolitan Corporate Counsel (July 2007).
- "Scheme Liability under Rule 10-b-5: An Emerging Cause of Action," published in the December 2006 and January and February 2007 issues of The Metropolitan Corporate Counsel.
Panel Member, "Managing the Legal Exposure of Global Markets" (PwC Leadership Forum); Speaker, "Internal Investigations" (sponsored by TRACE International); Speaker, "Anti-corruption and Anti-bribery Guidelines" (Cendant Legal Conference); Panel Member, "Trends and Issues in Cross Border Multinational Investigations" (KPMG Global Energy Conference); Speaker, "Getting the Most from Your Financial Experts: Effective Timing & Teaming" (BVR Legal/Mealey's); Speaker, " Legal Risks for Accountants: Update on Securities Litigation Developments" (Incisive Media); Speaker, "What Venture Capital/Private Equity Professionals Need to Know About the Overhaul of the Financial Regulatory System" (Reed Seminars); Speaker, "TARP Enforcement: the New Regulatory Regime" (Willkie/KPMG); Panel Member, "Ask the Regulators" (AICPA National Forensic Accounting Conference); Panel Member, "Securities Law: Primary Liability for Secondary Actors" (Federal Bar Council), Moderator, "Janus Capital Group vs. First Derivative Traders: Practical Implications of the Supreme Court’s Decision" (Law Seminars International), Speaker, "Closing Time: How Recent Developments Are Closing the Courthouse Door to Foreign Plaintiffs" (client CLE presentation)