Colorado SEC Defense Lawyers

Colorado SEC Defense Lawyers

Dealing with an SEC investigation can be stressful and frightening. But having an experienced SEC defense lawyer on your side can make all the difference. This article will give you an overview of SEC defense in Colorado – the key laws, strategies, and lawyers who can help.

What is the SEC?

First, a quick primer on the Securities and Exchange Commission (SEC). This federal agency enforces laws related to the securities industry. The main laws they enforce are:

• Securities Act of 1933 – requires companies to disclose certain information when issuing securities
• Securities Exchange Act of 1934 – requires companies to make periodic disclosures and oversee trading
• Investment Advisers Act of 1940 – regulates investment advisers
• Investment Company Act of 1940 – regulates mutual funds and other investment companies

The SEC has the power to investigate and bring civil enforcement actions against companies or individuals who violate these laws. Common violations include insider trading, accounting fraud, and failure to register securities or investment advisory services.

Why Hire an SEC Defense Lawyer?

If you receive a subpoena or inquiry from the SEC, it’s critical to hire an experienced SEC defense lawyer right away. SEC investigations can quickly spiral out of control, leading to huge fines or criminal charges. An SEC defense lawyer can help in several key ways:

• Evaluate your case and exposure – A skilled SEC lawyer can analyze the facts and help you understand potential violations and penalties.
• Guide you through the investigation – They’ll represent you through document requests, interviews, Wells notices, and negotiations.
• Craft a defense strategy – They’ll identify defenses and work to get charges dismissed or reduced.
• Negotiate settlements – An SEC lawyer can negotiate a favorable settlement if needed.
• Avoid criminal charges – In some cases, they can persuade the SEC to keep matters civil rather than refer them for criminal prosecution.

Having an experienced SEC defense lawyer in your corner can mean the difference between a slap on the wrist and serious civil or criminal charges. Their expertise in SEC rules and strategy is invaluable.

Key Colorado SEC Defense Lawyers

Colorado has many skilled SEC defense attorneys. Here are a few top lawyers to consider:

Christine Twomey

2024-03-21

Just had my Divorce case settled 2 months ago after having a horrible experience with another firm. I couldn’t be happier with Claire Banks and Elizabeth Garvey with their outstanding professionalism in doing so with Spodek Law Group. Any time I needed questions answered they were always prompt in doing so with all my uncertainties after 30 yrs of marriage.I feel from the bottom of my heart you will NOT be disappointed with either one. Thanks a million.

Brendan huisman

2024-03-18

Alex Zhik contacted me almost immediately when I reached out to Spodek for a consultation and was able to effectively communicate the path forward/consequences of my legal issue. I immediately agreed to hire Alex for his services and did not regret my choice. He was able to cover my case in court (with 1 day notice) and not only was he able to push my case down, he carefully negotiated a dismissal of the charge altogether. I highly recommend Spodek, and more specifically, Alex Zhik for all of your legal issues. Thanks guys!

Guerline Menard

2024-03-18

Thanks again Spodek law firm, particularly Esq Claire Banks who stood right there with us up to the finish line. Attached photos taken right outside of the court building and the smile on our faces represented victory, a breath of fresh air and satisfaction. We are very happy that this is over and we can move on with our lives. Thanks Spodek law 🙏🏼🙏🏼🙏🏼🙏🏼🙌🏼❤️

Keisha Parris

2024-03-15

Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.

Taïko Beauty

2024-03-15

I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence. Thank you team!

Anthony Williams

2024-03-12

Hey, how you guys doing? Good afternoon my name is Anthony Williams I just want to give a great shout out to the team of. Spodek law group. It is such a honor to use them and to use their assistance through this whole case from start to finish. They did everything that they said they was gonna do and if it ever comes down to it, if I ever have to use them again, hands-down they will be the first law office at the top of my list, thank you guys so much. It was a pleasure having you guys by my side so if you guys ever need them, do not hesitate to pick up the phone and give them a call.

Loveth Okpedo

2024-03-12

Very professional, very transparent, over all a great experience

Bee L

2024-02-28

Amazing experience with Spodek! Very professional lawyers who take your case seriously. They treated me with respect, were always available, and answered any and all questions. They were able to help me very successfully and removed a huge stress. Highly recommend.

divesh patel

2024-02-24

I can't recommend Alex Zhik and Spodek Law Firm highly enough for their exceptional legal representation and personal mentorship. From the moment I engaged their services in October 2022, Alex took the time to understand my case thoroughly and provided guidance every step of the way. Alex's dedication to my case went above and beyond my expectations. His expertise, attention to detail, and commitment to achieving the best possible outcome were evident throughout the entire process. He took the time to mentor me, ensuring I understood the legal complexities involved to make informed decisions. Alex is the kind of guy you would want to have a beer with and has made a meaningful impact on me. I also want to acknowledge Todd Spodek, the leader of the firm, who played a crucial role in my case. His leadership and support bolstered the efforts of Alex, and his involvement highlighted the firm's commitment to excellence. Thanks to Alex Zhik and Todd Spodek, I achieved the outcome I desired, and I am incredibly grateful for their professionalism, expertise, and genuine care. If you're in need of legal representation, look no further than this outstanding team.

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Google rating score: 4.9 of 5, based on 736 reviews

1. Troy Rackham – Spencer Fane

Troy Rackham is a partner at Spencer Fane with extensive experience in SEC enforcement and litigation. He’s represented companies and individuals in SEC investigations involving financial reporting, insider trading, and more. Clients praise his ability to analyze complex SEC rules and develop creative arguments. Rackham is based in Denver.

2. Jim Coyle – Steptoe & Johnson

Jim Coyle chairs the Securities Litigation and SEC Enforcement group at Steptoe & Johnson. His practice focuses on representing financial services firms and public companies in regulatory enforcement matters including SEC investigations. Coyle has handled high-profile SEC cases related to financial fraud. He works out of the Denver office.

3. John Chanin – Foster Graham

John Chanin is an experienced trial lawyer at Foster Graham who represents targets in SEC enforcement actions. He’s served as lead counsel in numerous SEC investigations involving broker-dealers, investment advisers, and public companies. Chanin has successfully avoided civil penalties and criminal prosecution for clients. His thoughtful approach has earned praise from peers.

4. Thomas Johnson – Gibson Dunn

Thomas Johnson co-chairs Gibson Dunn’s Securities Enforcement practice. He represents public companies, boards, and individuals in SEC investigations and enforcement actions. Johnson has deep expertise in accounting cases and regularly helps clients avoid criminal prosecution. He works out of the firm’s Denver and Washington D.C. offices.

5. Jim Jenkins – Holland & Hart

Jim Jenkins heads the Securities Litigation and SEC Enforcement team at Holland & Hart. He’s handled enforcement matters in nearly every SEC regional office. Jenkins is known for his ability to analyze complex trading data and develop creative arguments in insider trading cases. His clients include hedge funds, broker-dealers, and public companies.

Common SEC Defenses

When facing an SEC investigation, there are several defenses that experienced SEC lawyers may use to get charges dismissed or reduced. Here are some examples:

No Scienter

In fraud cases, the SEC must prove the defendant acted with scienter – intent to deceive or extreme recklessness. Showing the conduct was negligent rather than intentional can defeat fraud charges.

Reliance on Professionals

Reasonable reliance on accountants, lawyers, or other professionals regarding disclosure issues may rebut charges like accounting fraud.

Cooperation Credit

Cooperating fully with the SEC’s investigation, including providing key documents and testimony, may persuade them to drop or reduce charges.

Statute of Limitations

Civil charges must be brought within 5 years of the alleged misconduct, so statute of limitations arguments can dismiss stale claims.

Jurisdictional Arguments

The SEC’s jurisdiction has limits. Lack of a sufficient U.S. nexus for foreign transactions, for example:

Lack of Materiality

For misstatements or omissions to be securities fraud, they must be material – something a reasonable investor would consider important. Arguments that the issues were immaterial can defeat charges.

No Duty to Disclose

Companies generally only have a duty to disclose material information in SEC filings and other regulated communications. Defense lawyers may argue there was no duty to disclose in a particular situation.

Constitutional Arguments

The SEC’s authority has constitutional limits under the First Amendment, due process clause, etc. Constitutional claims may invalidate certain charges or proceedings.

Parallel Criminal Proceedings

Courts often stay civil SEC cases pending related criminal proceedings to protect a defendant’s Fifth Amendment rights.

Lack of Extraterritorial Jurisdiction

The SEC typically lacks jurisdiction over securities transactions that occur exclusively abroad, have no foreseeable U.S. impact, and involve only foreign actors[1]. Arguments against extraterritorial application of U.S. securities laws may defeat charges.

Challenging Investigative Procedures

Defense lawyers scrutinize the SEC’s investigative procedures for defects that could invalidate charges. This includes ensuring proper jurisdiction, adherence to statute of limitations, and following required protocols[2].

Settlement Considerations

Fighting SEC charges can be challenging, so settlement is often the pragmatic option. But settlement terms still matter. Experienced SEC lawyers will negotiate for:

• No admission/denial of charges
• Lower civil penalties
• No officer/director bar
• No criminal referral to DOJ

In some cases, lawyers can even negotiate a deferred prosecution or non-prosecution agreement to avoid civil litigation.

Avoiding Criminal Charges

A key benefit of skilled SEC defense is avoiding criminal prosecution, which may involve prison time. Civil charges have lower proof standards than criminal, so criminal referrals are selective. Lawyers aim to convince the SEC:

• Violations were negligent errors, not intentional fraud
• Reforms are implemented to prevent future issues
• A civil settlement provides sufficient punishment

Persuading the SEC to keep the case civil can save clients from catastrophic criminal consequences.

The Bottom Line

Facing an SEC investigation is daunting, but the right SEC defense lawyer can guide you through the process and achieve the best possible outcome. Look for an experienced SEC specialist who can analyze the facts, identify defenses, negotiate skillfully, and keep matters civil if at all possible. This gives you the greatest chance of minimizing penalties and avoiding criminal prosecution.