John Goselin is the former Chief Litigation Counsel of a financial services company and managed the entire portfolio of litigation for the company’s four wholly-owned subsidiary broker-dealers. He now focuses his practice on securities litigation and the representation of broker-dealers in arbitrations, litigation and regulatory matters before the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA). From the unique perspective of a chief litigation counsel seeing the entire litigation portfolio of four broker-dealers, Mr. Goselin has experienced the entire array of legal difficulties that a broker-dealer may face, from the routine customer suitability claim to a complex ponzi scheme to the challenges of defending matters before state and national regulators in investigations and routine examinations. In addition, Mr. Goselin has substantial experience representing public companies in securities class actions, shareholder and derivative litigation, deal protection litigation, accountant and legal professional liability litigation and general commercial litigation.
Mr. Goselin is a 1994 graduate of the University of Michigan Law School and a cum laude graduate of Duke University.
- State of Georgia v. David L. Pimper, No. 02CR20276 (2004). Successful defense of registered representative of New York broker dealer in eight day criminal trial in Floyd County, Georgia on charges of violations of the Georgia Securities Act and theft by deception in relation to an investment advisory business.
- Herndon v. Equitable Life Assurance Society, 325 F.3d 1252 (11th Circuit 2003). Significant participation in designing and executing the litigation strategy that resulted in dismissal with prejudice of putative class action claims alleging fraud in connection with the purchase and sale of variable life insurance products. The eleventh Circuit Court of Appeals affirmed the dismissal with prejudice - an issue of first impression in the Circuit.
- Welborn v. Royal Alliance Associates, Inc. et al., Civ. A. No. 1:00-CV-1509 (N.D. Ga. 2002). Significant participation in defending a broker-dealer and their registered representative in multi-faceted litigation including a federal class action pending in the Northern District of Georgia. The motion to dismiss was granted as to nine out of ten causes of action. Successfully opposed Plaintiff's motion for class certification. The plaintiff dismissed his action in favor of pursuing NASD arbitrations. The civil portion of this litigation (including the follow-on NASD arbitrations) ultimately settled in the range of future defense costs.
- Mindis Acquisition Corporation v. BDO Seidman LLP, 559 S.E.2d Ill (Ga. App. 2002). Significant participation in prosecuting a $44 million negligent misrepresentation trial against an accounting firm. Significant participation in successful appeal from an improper grant of JNOV and successful defense against a cross-appeal regarding the grant of summary judgment dismissing third party indemnification claims.
- In re S1 Corporation Securities Litigation, 173 F.Supp.2d 1334 (N.D. Ga. 2001). Significant participation in defending a federal class action lawsuit alleging misrepresentations in the Company's forward-looking statements. The motion to dismiss was granted. Plaintiffs chose not to amend their complaint and did not prosecute an appeal.
- In re SCB Computer Technologies, Inc. Securities Litigation, 149 F.Supp.2d 334 (W.D. Tenn. 2001). Significant participation in defending a federal class action lawsuit alleging complex accounting fraud issues and restatement of the Company's financial reports. The motion to dismiss was granted with prejudice.
- In re Miller Industries, Inc. Securities Litigation, 120 F.Supp.2d 1372 (N.D. Ga. 2000). Significant participation in defending a federal class action lawsuit alleging complex accounting fraud issues. At the time of this decision, this was the first grant of summary judgment for defendants under the Securities Litigation Reform Act of 1996 in the Eleventh Circuit.
- IRT Property, Inc. - Represented a Georgia REIT in Cobb County, Georgia Superior Court against allegations of breach of fiduciary duty and inadequate proxy disclosure arising from merger with Equity One, Inc., a Florida-based REIT. The complaint alleged that the board of directors obtained an inadequate price for the shareholders. The Court denied the plaintiff's request for expedited discovery and preliminary injunction. The transaction closed at the scheduled date.
- CTI Molecular Imaging, Inc. - Litigation in Tennessee Chancery Court arising from the $1 billion merger of the company with a subsidiary of Seimans A.G. The case was removed to federal court where the court denied the plaintiff's request for a preliminary injunction. The transaction closed at the scheduled date. The case was ultimately dismissed with prejudice without any payment to the plaintiff.
- Renal Care Group, Inc. - Litigation in Tennessee Chancery Court arising from the merger of the company with Fresenius Medical Care A.G.. The plaintiff failed to even seek an injunction. The transaction closed at the scheduled date.
- Ameripath, Inc. - Litigation in Florida state court arising from the $2 billion acquisition of the company by Quest Diagnostics, Inc. The transaction closed at the scheduled date.
- Accredo Health Group - Litigation in Tennessee Chancery Court arising from the acquisition of the company by Medco Health Solutions, Inc. The plaintiff's request for a preliminary injunction was denied. The transaction closed at the scheduled date.
- Scientific-Atlanta Corporation - Litigation in Fulton County, Georgia Superior Court arising from the $7 billion merger of the company with Cisco Systems, Inc. The court denied the plaintiff's motion for expedited discovery and denied the motion for preliminary injunction. The transaction closed at the scheduled date.
- Georgia-Pacific Corporation - Litigation in Fulton County, Georgia Superior Court arising from the $21 billion acquisition of the company by Koch Industries, Inc. The court denied the plaintiff's motion for expedited discovery and denied the motion for preliminary injunction. The transaction closed at the scheduled date.
Deal Protection Litigation
Areas of Practice
- Broker-Dealer Litigation
- Securities Litigation
- Corporate Litigation
- University of Michigan Law School, J.D., 1994
- Duke University, B.A., cum laude, 1991
- Duane Morris LLP
- Partner, 2012-present
- Cetera Financial Group (formerly ING Advisors Network)
- Chief Litigation Counsel, 2010-2012
- ING North America Insurance Corporation
- Counsel, 2006-2010
- Alston & Bird LLP
- Partner, 2004-2006
- Associate, 1997-2003
- Staff Attorney, 1996
- Paralegal, 1995
Civic and Charitable Activities
- Big Brother/Big Sister of Metro Atlanta, 2006-2009
- Chairperson, Program Committee, 2007-2009
- American Diabetes Association, Father of the Year Council, 2003-2009
- Chairperson, 2005-2007
- Co-author, "SEC Targets Investment Adviser Community," Duane Morris Alert, November 12, 2013
- Co-author, "Unprecedented FCPA Wake-Up Call for U.S. Broker-Dealers and Foreign Banks: Has the Perfect FCPA Storm Finally Arrived for U.S. Financial Markets?" Duane Morris Alert, May 14, 2013
- "Variable Annuities: Fortuitous Beneficiaries of the Securities Litigation Uniform Standards Act of 1998," Mealey's Emerging Securities Litigation Report, May 2003
- "Controlling Liability in Litigious Times: Strategies for Investment Advisors," Wall Street Lawyer: Securities in the Electronic Age, August 2003
- "In the Wake of the Reform Act, Allegations of Accounting Fraud Receive Increasing Focus in Securities Class Action Complaints," Alston & Bird LLP, Securities Litigation: Forms and Analysis, § 1:04 (West Publishing Co. 2004)
- "Variable Insurance Products: What's on the Horizon," Alston & Bird LLP Insurance Advisory, Winter 2003
Selected Speaking Engagements
- Speaker, "Current Issues in D&O Coverage," American Bar Association's Fifth Annual Institute on Internal Investigations and Forum for In-House Council, Washington, D.C., April 25, 2013
- "Six Sigma, the Discovery Process and the Corporate Legal Department," ABA Section of Litigation Annual Conference, May 2009