Alexander D. Bono
Partner
Duane Morris LLP
30 South 17th Street
Philadelphia, PA 19103-4196
USA

Phone: +1 215 979 1181
Fax: +1 215 689 4472
Email: abono@duanemorris.com

Alexander D. Bono practices in the area of litigation with a concentration on securities issues, particularly regulatory investigations and corporate governance. Mr. Bono leverages his more than 30 years' experience to advise and represent financial institutions and corporations on issues involving securities-related matters, class action suits, regulatory investigations and corporate governance. He also has represented executives and corporations in shareholder derivative claims and litigation charging breach of fiduciary duties, mismanagement and fraud.

Mr. Bono is a 1977 graduate of Temple University, Beasley School of Law, where he was research editor for Temple Law Quarterly, and a magna cum laude graduate of LaSalle University.

Areas of Practice

• Financial Services Litigation
• Securities Litigation
• Regulatory and Internal Investigations
• Corporate Governance
• Business Governance Litigation and Shareholder Disputes
• Class Action Litigation
• Litigation Services

Representative Matters

Securities and Exchange Commission Enforcement Defense

• SEC v. Kissinger - won trial defending registered investment advisor on fraud claims over disclosure for various classes of mutual funds.
• SEC v. Hoffman - won trial defending RR on fraud and switching claims over disclosure for mutual funds.
• SEC v. Saltzman - lifted ex parte asset freeze in federal court against hedge fund and RIA, vigorously defended and then settled on terms the client found favorable on the eve of trial.
• Numerous formal and informal SEC investigations, including (partial listing):
  • Global Software Company, U.S. subsidiary and employees
  • publicly traded bank, broker dealer subsidiary and employees
  • publicly traded software gaming developer
  • publicly traded computer peripheral company and employees
  • publicly traded debt collection company and employees
  • International accounting firm and partners
  • Jos. Schlitz Brewing Company, board and employees

Securities Class Actions

• Jelen v. TD Bank, N.A. -- won dismissal of federal court class action alleging that a national bank violated the Electronic Funds Transfer Act in connection with ATM fee charges.
• Midlantic Bank -- won dismissal of state court class action alleging illegal charges of ATM fees.
• In re Commerce Bank Securities Litigation - dismissal of 10b-5 claim against company, directors and executives.
• In re BonTon Securities Litigation - dismissal of 10b-5 and section 11 and 12 claims against investment banks Alex. Brown & Sons and Montgomery Securities over an IPO.
• In re Numerex Securities Litigation- dismissal of 10b-5 claims against company and board over secondary stock offering; settled while appeal was pending.
• In re: Chateauguy Corp., LTV Corp. - dismissal of securities class action claims filed in bankruptcy proceeding.
• In re HomeHealth Corporation - defense of healthcare provider, board and executives regarding disclosure; settled after company filed for reorganization.
• In re Financial News Network, Inc. and Infotechnology, Inc. - defense of several class action, RICO and securities cases regarding financial disclosure; settled.
• Wall to Wall Sound and Video Securities Litigation - court appointed defense liaison counsel in class action IPO securities case; settled.
• Greenfield v. Heublein - represented plaintiffs in securities class action over disclosure of merger with RJ Reynolds (precursor to Basic v. Levinson regarding material omissions).
• Laventhal & Horvath - defense of international accounting firm in several securities class actions; settled.
• Ivan Boesky - defense in class actions involving Drexel Burnham, Michael Milken and others.

Shareholder Derivative Claims

• Commerce Bank - dismissal of New Jersey state claims against board members and executives regarding fiduciary duties on pay to play issues.
• AEL Industries - dismissal of Pennsylvania state court derivative claim and class action regarding merger and change of control premium to controlling shareholder; with award on statutory bond upheld on appeal.
• LifeMinders Inc. - dismissal of Kansas federal court claims against company, board and executives regarding merger and disclosures.
• Loewen Group - defense of board members of death care company over fiduciary duties in Pennsylvania.
• Midlantic Bank - dismissal of bank in defending consumer class action regarding ATM fees.

Broker-Dealer Litigation

• TD Wealth Management Inc.
• Numerous court and arbitration matters regarding investor claims, including:
  • Morgan Stanley
  • Janney Montgomery Scott
  • Dean Witter Reynolds
  • Prudential-Bache Securities
  • InvestaCorp., Inc.
  • Commerce Capital Markets

Consumer Litigation

• Obtained dismissal of class action suit against one of the 15 largest U.S. banks alleging it violated the federal Electronic Funds Transfer Act, which prohibits ATM transaction fees unless ATM operators post a notice of ATM fees on both the machine's screen and in a prominent and conspicuous location on or near the machine.
• Obtained a $2 million jury verdict following a two-week trial for a client that purchased a yacht from a yacht broker in Florida. The jury found for the client on its claim that that defendant negligently misrepresented the condition of the yacht.
• Oakes, et al., v. OkiData Electric - court appointed, nationwide class counsel for consumers of laser printers; successfully settled civil RICO, warranty, breach of contract and consumer fraud claims.
• Algrant, et al., v. Evergreen Partners - representation of numerous investors in limited partnership, including consumer claims.
• Carey International - defense of international limousine company, its board and officers in RICO class action case over surcharges to consumers.
• Bank of America - dismissal of bank and subsidiary in defending class action over consumer financing.
• Midlantic Bank - dismissal of Pennsylvania state court claims against board of Old York Road Bank regarding merger and disclosure.

Professional Activities

• American Bar Association
  - Litigation Section
  -- Securities Litigation Subcommittee
  ---Co-Chair, Subcommittee on Accounting Issues, 1994-2001
  ---Co-Chair, Drafting Committee for Model Jury Instructions for Accounting Issues in Security Cases
• Philadelphia Bar Association
  - YLS Judicial Merit Selection Committee, 1989
  - Associate Editor, Criminal Justice Bulletin, 1976-1977

Admissions

• Pennsylvania
• U.S. Supreme Court
• U.S. Court of Appeals for the Eleventh Circuit
• U.S. Court of Appeals for the Second Circuit
• U.S. Court of Appeals for the Third Circuit
• U.S. Court of Appeals for the Seventh Circuit
• U.S. District Court for the Eastern District of Pennsylvania

Education

• Temple University Beasley School of Law, J.D., 1977
  - Research Editor, Temple Law Quarterly
• LaSalle University, B.A., magna cum laude, 1974

Experience

• Duane Morris LLP
  - Partner, 2009-present
• Schnader Harrison Segal & Lewis LLP
  - Partner, 2007-2009
• Commerce Bancorp, Inc.
  - General Counsel and Corporate Secretary, 2004-2007
• Blank Rome LLP
  - Partner, 1986-2004
  - Associate, 1978-1986
• Dennis H. Eisman & Associates, P.C.
  - Associate, 1977-1978

Civic and Charitable Activities

• Catholic Health Care Services, Archdiocese of Philadelphia
  - Board Member, 2008-present

Honors and Awards

• Listed in Pennsylvania Super Lawyers, 2010

Selected Publications

• Keys to Corporate Governance and Updating Policies (Thomson/Aspatore 2008)
• "SEC Enforcement: Investigations, Actions and 2008 Trends," The Legal Intelligencer, April 2008
• New Millennium Class Actions, National Business Institute, 2000
• Editor and Drafting Co-Chair, Model Jury Instructions in Securities Litigation, American Bar Association, 1996
• "The Scope of Tracing to Establish Section 11 Standing," Securities News, American Bar Association, Fall 1996
• Co-author, "Audit Committees," Corporate Practice Series, BNA, 1995
• Civil and Criminal Liability: What the Accountant Needs to Know, Center for Professional Education, Inc., 1993
• Co-author, "Civil RICO in Securities/Banking Cases," Civil RICO Practice: Causes of Action, Wiley Law Pub., 1992
• Co-author, "Consulting Liabilities," Journal of Accountancy, AICPA, November 1992
• "Validity of Class Actions Proofs of Claims in Bankruptcy," Commercial Law Journal, Fall 1991
• "Counsel Fees: Percentage Approach on the Rise," The National Law Journal, September 1990
• "Securities Litigation: Fraud on the Market in the Third Circuit," The Barrister, Spring 1988
• Keys to Corporate Governance and Updating Policies, (Thomson/Aspatore 2008)

Selected Speaking Engagements

• "Final Trial Preparation," Temple University School of Law LL.M. Advocacy Program, December 1997
• "Accountant Civil Liability," Center for Professional Education, Inc., June 1994
• "Civil Liability: What the Accountant Needs to Know," Center for Professional Education, Inc., June 1993
• "How to Limit Your Malpractice Exposure as a Financial Advisor," International Association for Financial Planning, February 1992
• "Potential Liability for Consultants," Pennsylvania Institute of Certified Public Accountants, January 1992