Regulatory and Internal Investigations

Regulatory and Internal Investigations

SGS regularly represents clients in regulatory investigations and internal investigations, including in matters involving accounting irregularities and allegations of insider trading. The practice is led by Andrew Shoemaker, a former enforcement attorney for the U.S. Securities and Exchange Commission and special assistant U.S. attorney.

Representative Investigations

The Outcome: Board of a New York Stock Exchange-listed company determined that there was no wrongdoing by SGS’s client and closed the matter. The Case: A board member of a predecessor company accused SGS’s client, the CEO of a public company, of fraud and breaches of fiduciary duty. After an in-depth investigation by the Special Litigation Committee, it reported that neither its legal nor financial advisors had found any evidence to support the allegations.

The Outcome: SEC closed an insider trading inquiry without filing charges. The Case: After learning of trading by the relative of the CEO of a publicly-held company in advance of the announcement of a going private transaction, the SEC conducted an investigation concerning possible insider trading.

The Outcome: Internal investigation by the board of a publicly-held company was closed without filing charges. The Case: After the discovery of accounting irregularities and possible violations of a variety regulations, the board investigated to determine the CEO’s level of knowledge and participation in the events at issue.

A further list of representative investigations is available here.

Representing an oil and gas company and management in connection with extensive litigation involving the Colorado Attorney General and the Colorado Securities Act.

Represented the audit committee of a Fortune 500 company in connection with an internal investigation regarding various accounting issues.

Represented the Chairman of the Board of a publicly-held company in connection with an SEC investigation concerning potential accounting and disclosure violations, including the failure to properly report perks provided to its executives as compensation. SEC resolved the matter with no action against client.