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Marvin G. Pickholz
Partner
Duane Morris LLP
1540 Broadway
New York, NY 10036-4086
USA

Phone: +1 212 692 1050
Fax: +1 212 208 2641
Email: mgpickholz@duanemorris.com

Marvin G. Pickholz practices in the area of litigation with a focus on securities and corporate defense, white-collar law and internal investigations. He has represented financial institutions, investment banks, private equity entities and accounting and law firms in matters involving securities laws, financial disclosures, government contracts, antitrust and healthcare. He was counsel in the first anti-money laundering case brought against a member of the NYSE and represented a member firm in the first disciplinary case brought by the Financial Industry Regulatory Association (FINRA). Other cases in which he has been counsel are Martha Stewart, Lipper Funds, Mutual Fund Market Timing, Securities Analysts, the New York Stock Exchange Floor Specialists, Charles Keating/Lincoln Savings and Loan, Ivan Boesky/Michael Milken cases, the first SEC case involving the accountant whistleblower statute, and the W.R. Grace administrative case by the SEC enunciating directors' duties.

Mr. Pickholz is currently involved in international investigations and derivative securities litigations/arbitrations including the defense of a case for $1 billion in damages.

Prior to entering private practice, Mr. Pickholz held several positions with the SEC, including national Assistant Director of the SEC's Division of Enforcement in Washington, D.C. and Chief of the Branch of Enforcement in New York. During his tenure with the SEC, Mr. Pickholz was involved in many high-profile cases involving accounting firms, and financial statement fraud, the Foreign Corrupt Practices Act and such defendants as First Mortgage Investors (the first REIT case), U.S. Steel, Howard Hughes/Jimmy "the Greek"/Air West, Dresser Industries, and William F. Buckley, Jr.

Mr. Pickholz is the author of the treatise titled Securities Crimes and is the co-author of chapters in leading treatises on accountants' liability, insider trading and section 16(b) liabilities. He has authored over 50 articles and is a frequent guest on CNBC, NBC, Fox News, and the BBC and quoted in domestic and foreign financial publications.

He was the founder and first president and currently serves as a director of the Association of Securities and Exchange Commission Alumni.

Mr. Pickholz is admitted to practice before all federal and local courts in New York state and the District of Columbia and before the U.S. Supreme Court. He has practiced before courts throughout the United States. Mr. Pickholz received his J.D. and LL.M. degrees from New York University School of Law and is a graduate of University College of New York University.

Areas of Practice

• Corporate and Securities Litigation
• White-Collar Law
• Corporate Compliance

Representative Matters

• Obtained a sentence of three years' unsupervised probation, a $15,000 fine and $300,000 restitution for an individual who was facing more than 37 months in jail and up to a $75,000 fine plus $2.9 million in restitution for violating U.S. antitrust statutes by overcharging the U.S. Department of Environmental Protection for cleanup of a Superfund site.
• Advise former high-ranking U.S. State Department official and special presidential envoy under Presidents George H. W. Bush and William Jefferson Clinton while on assignment for the U.S. government.
• Represented New York Stock Exchange member in connection with first case brought by U.S. Department of the Treasury, Financial Crimes Enforcement Network (FinCEN) addressing anti-money-laundering issues arising from business conducted by major investment bank in Venezuela.
• Represented several U.S. nationals in resolving tax issues related to Swiss and Lichtenstein accounts with the U.S. Department of Justice.
• Represented well-known Swiss banker in action and investigation brought by U.S. Attorney for the Eastern District of New York stemming from allegations of fraudulent stock trading.
• Represented the vice-chairman of Hollinger International in a case ultimately brought by U.S. Department of Justice and the U.S. Attorney for the Northern District of Illinois involving Lord Conrad Black.
• Represented foreign-based accounting firms in several high profile United Kingdom-Scotland Yard-Financial Services Authority (FSA) investigations related to the "Guinness Affair" and "Blue Arrow" cases.
• Represented leading Far East accounting firm in investigation of financial statements filed in U.S. Securities and Exchange Commission reports by Pepsico related to activities in the Philippines and Mexico.
• Represented a U.S. national in connection with an SEC - U.S. Attorney - Royal Canadian Mounted Police matter involving the sale of bonds to Manitoba Province.
• Represented a former U.S. senator in a New York State Attorney General investigation related to "pay-to-play" pension investments.
• Represented high-ranking hospital executive who, before engaging Duane Morris, received substantial negative press, in investigation by U.S. Attorney and New York Attorney General into alleged payoffs to member of the New York State Legislature.
• Represented one of the Middle East's most prominent investment families in case against Merrill Lynch & Co.
• Represented Chinese business people in U.S. Securities and Exchange Commission investigation regarding insider trading.
• Represented clients from Isle of Jersey, Gibraltar and the Bahamas in action related to illegal securities transactions, funds transfers and money laundering.
• Advised and represented clients in joint, cross-border investigations involving the United States and other jurisdictions, including Vanuatu, for stock fraud and money laundering to conceal thefts from Parsons & Wittemore Inc.
• Represented Fiat in criminal and civil investigations by the U.S. Department of Justice and U.S. Environmental Protection Agency into the disposal of polychlorinated biphenyls (PCBs).
• Represented Italian manufacturer of parts for U.S. nuclear submarines in a defense-contracting case brought jointly by the Department of Defense and the U.S. Attorney for Eastern District of Virginia.
• Represents Van der Moolen Specialists (USA) LLC and Van der Moolen Holdings N.V. in a class action seeking compensatory damages of $255 million. The case is also before the District Court of Amsterdam and has been referred to by the Dutch press as the "Netherlands Madoff Affair."
• Represents a NYSE member firm in a case arising from auction-rate securities in which the plaintiff seeks $256 million in compensatory damages plus exemplary damages.
• Represented several officers of U.S. Food Service (Royal Ahold) in civil and criminal proceedings related to false invoicing and false financial statements.
• Successfully defended corporate client in action that alleged defrauding of investors and $5.7 million in actual damages. The jury rendered a complete defense verdict. See Crigger, et al. v. Fahnestock & Company, et al. 01 Civ. 0781 (SDNY).
• Obtained complete dismissal of a securities and breach of contract case after filing opening brief on behalf of corporate client. Laser and Skin Surgery Center of New York v. Rafferty, Schwartz, et al., Index No. 603724/03 (NY Sup. Ct.).
• Secured dismissal of SEC fraud action against an attorney accused of aiding and abetting. See SEC v Syndicated Food Service International, et al., Civil Case No. 04 Civ. 1303 (EDNY 2004).
• Defended private investor and consultant in lawsuit brought by the SEC against public company accuse of securities fraud, market manipulation and other securities law violations, and in related investigation by the U.S. Attorney's Office in New York. See SEC v. Universal Express, et al. 04 CIV 02322 (SDNY).
• Obtained court-ordered immunity for company president in connection with investigation by U.S. Attorney's Office for the Eastern District of Pennsylvania into hedge fund collapse. Represented same executive in parallel SEC investigation.
• Acted as counsel to senior executives of billion dollar mutual fund family in connection with joint investigations by the New York Attorney General and the SEC.
• Acted as counsel to several hedge funds and broker-dealers in separate investigations by the SEC, the U.S. Attorney's Office and the Commodities Futures Trading Commission.
• Represented venture capital firm as plaintiff in a derivative action against numerous individual and corporate defendants, including Societe Generale. See Alpine Consolidated III v. Steven M. Friedman, et al., Index No. 602612/02 (NY Sup. Ct.).
• Acted as counsel to foreign national accused of helping to create false accounting invoices as part of an alleged $450 million financial statement fraud. Handled responses to parallel investigations by the U.S. Attorney's Office, the SEC and internal corporate investigations.
• Acted as special counsel to companies and their boards, conducting internal investigations into historical options grants and options dating practices for public companies in a variety of industries.
• Provided advice and counsel to various executives, committees, and accounting firms in connection with their testimony and appearance before various Congressional investigation committees.
• Defended securities firm and its president involved in the buying and selling of public shell companies in connection with grand jury investigation by the U.S. Attorney's Office (E.D. Virginia) and inquiries by the SEC.
• Provided consulting services to executives and accounting firms in connection with various business transactions and disputes.
• Represented foreign investment company as plaintiff in arbitration against one of the five largest Wall Street firms and two of its registered representatives in case involving $12 million of damages. See AICO International v. Merrill Lynch, Pierce, Fenner & Smith, et al. (NASD-DR Arbitration no. 02-01320).
• Represented former leading technology analyst as plaintiff against major investment bank in NYSE arbitration involving more than $10 million in damages. See Bob Lam v. The Bear Stearns Companies, et al. (NYSE Docket No. 2003-012117).
• Provided advice and counseling regarding corporate governance, ethics and compliance matters for companies in several different industries. Provided analysis and suggestions for remediation or prevention of various related problems.
• Defended NYSE member firm in pair of arbitration contests involving more than $6 million in alleged damages. See Donald G. Drapkin v. Oppenheimer & Co., Inc., et al. (NASD-DR Arbitration No. 03-07283) and Eric Rose v. Oppenheimer, et al., (NASD-DR Arbitration No. 04-0155). Panel rendered award in favor of client, Oppenheimer. Confirmed by New York Supreme Court.
• Obtained complete dismissal of NASD arbitration matter brought by customer of our client without suffering any liability for any portion of a settlement fee and with expungement of the client's CRD. See Adams, et al. v. Citigroup Global Markets, et al., Civil Case No. 04 CV 09520 (SDNY).
• Obtained dismissal of NASD customer arbitration without liability or payment of any settlement fee, obtaining expungement of client's CRD. See Finkel & Finkel v. Mayer and WJ Nolan & Co. (NASD-DR Arbitration No. 05-06623).
• Represented clients in Department of Justice Antitrust investigations related to: (i) Electrical Contracting; (ii)Painting and Pails; (iii) Road Construction and Paving; and (iv) Packaging and Casings industries.

Professional Activities

• American Bar Association
  - Section of Criminal Justice
  -- Co-Chair, White Collar Crime Committee's New York Region Subcommittee, 2008-present
  -- Council Member, 1985-1989
  - Section of Business Law
  -- Council Liaison, 1989-present
  - Committee on White-Collar Crime
  -- Chairman, 1984-1987
  -- Vice Chairman, 1983-1984
  - Section of Litigation
  -- Co-Chairman, Committee on National Institutes, 1984-1986
  -- Chairman, Government Litigation Committee, 1982-1984
  -- Chairman, Subcommittee on Legal Compliance Programs and Preventive Law, 1981-1982
  -- Chairman, Subcommittee on Criminal Laws and Procedures, Committee on Corporate Counsel, 1992-1995
  -- Member, Committee on Model Instructions for Securities Litigation Involving Accountants
  - Section of Corporation Banking and Business Law
  -- Chair, Corporate Criminal Laws Committee, 1989-1993
  -- Council Liaison to Criminal Justice Section, 1989-present
  -- Chairman, Subcommittee on Corporate Compliance and Preventative Law, 1998-1999
  - Task Forces
  -- Revisions to SEC rules of Procedure
  -- SEC Proposed Rules on Insider Trading
• US-China Alliance
  - Member, Advisory Committee

Admissions

• New York
• District of Columbia

Education

• New York University School of Law, LL.M., 1968
• New York University School of Law, LL.B., 1967
• New York University, A.B., 1963

Civic and Charitable Activities

• Board of Directors, Association of Securities and Exchange Commission Alumni
• Board of Directors, The Eye Bank for Sight Restoration, Inc.

Honors and Awards

• The National Law Journal, SEC Defense: A Wall of Silence (listed among 10 lawyers for practice "before the SEC"), 1998
• The Washington Magazine, Washington's 50 Best Lawyers, 1992
• Guide to World's Leading White Collar Crime Lawyers
• Who's Who in American Law
• Who's Who in America
• Who's Who in International Lawyers
• Listed in New York Metro Super Lawyers, 2006-2010
• Listed in Super Lawyers Corporate Counsel Edition, 2010
• AV® Preeminent™ Peer Review Rated by Martindale-Hubbell

Selected Publications

• Mr. Pickholz has authored more than 50 articles on securities and white-collar litigation, RICO, Foreign Corruption Practices Act, internal investigations and other subjects.
• "Being an International In-House Corporate Counsel Has Become a High Risk Business," Inside, New York State Bar Association Corporate Counsel Section, Spring/Summer 2011
• Co-author, "Impacts of the US Financial Reform Act on International Business," Duane Morris Alert, September 14, 2010
• Co-author, "Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010: Congress Enacts Sweeping Financial Reform," Duane Morris Alert, August 24, 2010
• "SEC Starts Pension Fund Group to Prosecute for "Pay to Play"," Duane Morris Alert, October 19, 2009
• Co-authored chapters on "Accountants' Liabilities under the Federal Securities Laws" and "Section 16 and Insider Trading" for Matthew Bender's treatises on the Securities Acts of 1933 and 1934.
• Securities Crimes, Thomson West 1993 and annual updates though 2007
• Co-author, "Changes in SEC Investigations Outlined by Director of Enforcement Division," Duane Morris Alert, August 6, 2009
• Chapter on Corporate Governance: "The Respective Functions of the Client and Lawyer in Corporate Governance Law," Aspatore Books, 2007
• Co-author, "Investigations Put Employees in Tough Spot: Are 'Cooperating' Corporations Violating Constitutional rights?", New York Law Journal, Special Section on White-Collar Crime, p. 10, Col. 1, July 2000
• Co-author, "Accountants' Liability Under the Federal Securities Laws (Chapter 5A)," IIA Gadsby, Business Organizations; The Federal Securities Exchange Act of 1934, Matthew Bender 1986, A.A. Sommer, Jr. Editor, Revised 2002-2007
• "Fraud and Criminal Penalties Chapter in Handbook for Corporate Directors," FT Law & Tax, 1997
• "Guide to White Collar Crime," Bureau of National Affairs, Corporate Practice Series 1986

Selected Speaking Engagements

• Featured on Varney & Co. on Fox Business discussing the MF Global case, November 2, 2011
• "Roundtable on the Execution, Clearance, and Settlement of Microcap Securities," SEC Headquarters, Washington, D.C., October 17, 2011
• "Professional Responsibility of Business Executives," NYU Stern School of Business, New York, September 1, 2011
• "Internal Investigations at Financial Institutions: The Evolving Role of Lawyers In International Corporations," ABA Third Annual National Institute on Internal Investigations, May 5, 2010
• "Foreign Corrupt Practices Act," seminar at Baruch College of City College of New York for members of the Internal Auditors Association, October 15, 2010
• Co-presenter, "Dodd-Frank, Bounties, Whistleblowing and the Future of Compliance," BrightTalk Webcast, October 13, 2010
• Interviewed on Bloomberg TV discussing the Goldman Sachs Congressional hearings, April 27, 2010
• Interviewed several times for Bloomberg radio on regulatory issues
• Interviewed by CNBC Asia on regulatory reform
• Panelist, "Old Law, New Facts: Madoff, Fraud and the TransAtlantic Perspective Dispute Resolution/Litigation, Latin America/Caribbean," American Bar Association International Law Section Fall 2009 Meeting, October 27-31, 2009
• Guest on BBC Radio programs Today, Radio 4, and Wake Up Money, Radio 5, regarding the Bernard Madoff sentencing, June 29, 2009
• Panelist, "Implementing Compliance Programs and Conducting Investigations When Compliance Fails," ABA Section of Public Contract Law Teleconference, June 25, 2009
• Interviewed by BBC2 (also aired on BBC World TV), March 12, 2009
• American Bar Association's 15th Annual Federal Procurement Institute: Procurement Going Forward-Today's Questions for Tomorrow's Challenges, "Going to Confession? Internal Investigations," Annapolis, Maryland, March 6, 2009
• Course Instructor, "A Primer on Corporate Compliance and Internal Investigations", Lawline.com, September 2008
• Financial Markets Association Securities Compliance seminar, "What Happened, Why and What Now?" Fort Lauderdale, Florida, April 30, 2008
• Planning Committee and Panel Chair for ABA National Institute, Securities Fraud, (2006, 2007, Washington, D.C.)
• Defending the Corporation in Mass Tort Litigation, New Jersey Corporate Counsel Association, 2007
• Broker/Dealer Enforcement Actions Conference, The District of Columbia Bar Association, October 2005
• The Cambridge International Symposium on Economic Crime (Topics: "Civil Disclosure and Freezing Orders," "Recovering Property from Overseas," "The Interface between Civil and Criminal Proceedings," "Market Manipulation," Cambridge University, Jesus College, September 2000, 1996 and 1994
• Securities Litigation Into the New Millennium, The District of Columbia Bar Association, Park Lane Hotel, New York, New York, February 1999
• Credit Suisse First Boston Corporation, Private Seminar "The Role of Internal Counsel and Auditors in an Increasing Criminalized Environment," January 1999
• The Metropolitan Corporate Counsel, Developments in Directors & Officers Insurance and Liability Insurance for the Employed Attorney, April 1995