Brian Devine’s practice focuses on securities litigation, government and internal investigations, white collar criminal defense, and complex business litigation. He represents public and private companies, officers, directors, and other entities and individuals across a broad range of industries, including financial services, pharmaceuticals and life sciences, technology, private equity, government contracting, and entertainment.
Brian’s experience includes representing issuers, underwriters, and executives in class actions and individual investor actions alleging violations of the federal and state securities laws. He also advises clients in corporate governance disputes, shareholder derivative suits, breach of fiduciary duty actions, and books and records demands.
Brian defends clients in civil and criminal investigations by the U.S. Department of Justice, U.S. Securities and Exchange Commission, state attorneys general, and other government regulators. These matters have included criminal prosecutions, enforcement actions, and civil suits by federal agencies. He also leads internal corporate investigations into a wide variety of legal and compliance issues, helping clients to gather facts, assess legal risk, and implement remediation measures.
Brian has extensive experience in complex business litigation, including cases involving breach of contract, fraud, unfair business practices, fraudulent transfer, tortious interference, and employee non-compete and non-disclosure agreements. He also has handled intellectual property disputes over trade secrets, copyrights, and trademarks, as well as licensing and assignment issues.
- Defended one of the nation’s largest mortgage lenders in over 50 securities class actions and investor actions related to credit crisis:
- Secured dismissal or substantial narrowing of numerous mortgage-backed securities (MBS) cases in federal multidistrict litigation proceeding, reducing client’s exposure by billions of dollars.
- Obtained key legal rulings in class action by purchasers of more than $350 billion in MBS, which led to a settlement and shaped the development of the law for MBS cases nationwide.
- Defeated class certification in action involving $4 billion of private placement debentures sold to institutional investors.
- Secured dismissal of securities class action against underwriters of $310 million stock offering by pharmaceutical company, which was related to the disclosure of adverse events during a drug’s clinical trial.
- Secured dismissal of securities class action against underwriter alleging over $1 billion in lost asset value due to misstatements about mutual fund’s investment strategy in offering documents and marketing materials.
Government and Internal Investigations
- Defended pharmaceutical company in SEC investigation of revenue recognition issues; SEC declined to pursue charges.
- Represented treasury executive in international investigation of LIBOR manipulation by DOJ, CFTC, and U.K. Financial Conduct Authority, resulting in no charges filed.
- Led internal investigation at financial services company regarding accounting and disclosure issues.
- Defended mutual fund service provider in SEC investigation of $15 million Ponzi scheme (and against related shareholder claims).
- Represented Fortune 100 industrial company in four-year SEC investigation of complex accounting issues concerning more than $950 million in revenues across three major business segments.
- Represented Jeff Skilling, former President/CEO of Enron, in four-month criminal trial for securities fraud and insider trading. Also litigated appeal and related shareholder class actions.
Qui Tam/Whistleblower Litigation
- Obtained summary judgment for defense contractor in qui tam False Claims Act case related to incentive bonus program, where relator sought over $15 million in damages and penalties.
Complex Business Litigation
- Represented payment processing company in breach of contract litigation against competitor for stealing customers in violation of non-solicitation agreement.
- Advised financial services company in connection with $210 million dispute over interpretation of complex distribution and redemption provisions of LLC agreement.
- Represented two trustees of Sumner M. Redstone National Amusements Trust in litigation contesting the validity of their appointment based on challenges to Mr. Redstone’s capacity.
Intellectual Property Litigation
- Represented technology start-up in litigation involving trade secret, patent, licensing, and corporate governance claims concerning the rights to groundbreaking new technology.
- Secured dismissal of copyright and trademark lawsuit filed by music producer over authorship of Michael Jackson song.
- Obtained dismissal of 13-year, $700 million lawsuit against Fortune 100 entertainment company over merchandising rights and royalties for a well-known children’s character.