Securities & Corporate Governance

Fraudulent practices in some of the world’s largest corporations are frequently reported. Unfortunately, the lack of regulation and oversight that has led to corrupt corporate leadership, lack of transparency of the risks of significant investments, and repeated securitization of the same bad investments.

Wexler Wallace has committed its resources to helping pension plans, governments and others in need to recover assets lost from the weakness of mortgage-backed securities, auction rate securities, credit swaps, derivative swaps, and overextended securities lending programs. Through its membership in the National Association of State Treasurers, and its increased involvement in institutional finance and investment conferences, Wexler Wallace has catapulted itself to the forefront of seeking redress and the recovery of assets lost in recent months through the gross negligence and the breaches of fiduciary duties owed by those in whom institutional investors placed their trust and confidence.

Securities litigation can often result in changes to corporate governance and policies designed to prevent future misconduct. The importance of this work, therefore, cannot be overstated. Wexler Wallace seeks to ensure that corporate officers and directors fulfill their responsibilities with regard to full disclosure and transparency to those buying and selling their securities, and also ensures that our capital markets truly reflect the accurate information that should underlie every commercial transaction.

If you require legal counsel for securities and/or corporate governance litigation, please contact us.

Securities & Corporate Governance cases

Virginia M. Damon Trust v. Mackinaw Financial Corporation et al.
This shareholder derivative action alleged that the former CEO of North Country Financial Corporation’s (now Mackinac Financial Corp.) breached his fiduciary duties by mismanaging the bank’s commercial loan portfolio, failing to heed repeated warnings from regulators regarding internal controls, and failing to correct specific deficiencies in the bank's underwriting, loan collection, and loan administration functions. Our client further alleged that the Bank underwent years of gross mismanagement that ultimately resulted in cease and desist orders from the Federal Deposit Insurance Corporation and the Michigan Office of Financial and Insurance Services. Through Wexler Wallace's efforts, the bank received a multi-million dollar settlement. Read more.

List v. List
Wexler Wallace was lead counsel in this case alleging mismanagement and waste at a closely held manufacturing concern. The firm was retained by shareholders after a decade of litigation. Ed Wallace was lead trial counsel in the successful bench trial defeating fee claims against the firm’s clients. After significant discovery relating to financial transactions of the company's former chief executive officer and extensive negotiations, Wexler Wallace was able to resolve this long-running dispute. Read more.

View more securities and corporate governance cases brought by Wexler Wallace.