Recognized by Chambers USA as "the best in the city for financial reporting issues," Willkie Farr & Gallagher LLP is a leader in the area of securities litigation & enforcement.

Beginning with the enactment of the nation’s first securities law (spearheaded by former Willkiev attorney Felix Frankfurter), Willkie has been at the forefront of shaping and interpreting every aspect of securities law. Not only is the firm called upon by lawmakers to assist in enacting new securities laws, such as the Private Securities Litigation Reform Act of 1995 and the Securities Litigation Uniform Standards Act of 1998, it is also called upon by clients to be among the first to interpret them: Willkie was defense counsel in the first securities class action tried to a jury under the PSLRA.

Today, Willkie represents a diverse client base in civil and criminal proceedings in all levels of state and federal courts, enforcement proceedings, and investigations by the Securities and Exchange Commission and other government authorities, proceedings by self-regulatory organizations, and internal investigations. The firm regularly defends officers, directors, issuers, accounting firms, financial institutions, and others in litigation touching on all aspects of securities and financial reporting. We are active in high-stakes mergers and acquisitions litigation, including proxy contests, tender offers, and other contests for corporate control.

In particular, Willkie has established a best-in-class practice in financial reporting litigation. Drawing on the remarkable depth and breadth of our expertise in accounting and financial reporting matters, which includes decades of experience representing the AICPA and the accounting profession in litigation and service on the Advisory Council to the FASB, the firm’s financial reporting practice specializes in the crises that engulf a corporation in the wake of discovery of accounting irregularities or other forms of financial reporting misrepresentation. Financial reporting matters in which the firm has played an important role include Dell, Fannie Mae, The City of San Diego, Baxter International, Enron, Gemstar - TV Guide International, Cendant, Xerox, Leslie Fay, Footstar, Oxford Health, Healthsouth, Livent, Sensormatic, and Just For Feet.