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Rich Strassberg, co-chair of Goodwin Procter's Securities Litigation & White Collar Defense Group, chair of its White Collar Crime & Government Investigations Practice and a member of the firm’s Executive Committee, specializes in white collar criminal defense, SEC enforcement proceedings, FCPA compliance and investigations, corporate internal investigations, and complex business and financial litigation. Under Mr. Strassberg’s leadership, Law360 recognized the Goodwin Procter White Collar Crime and Government Investigations Practice as being one of the top five white collar practices in the United States.

Prior to joining the firm, Mr. Strassberg was the Chief of the Major Crimes Unit in the U.S. Attorney's Office for the Southern District of New York, responsible for supervising approximately 25 Assistant U.S. Attorneys in the prosecution of white collar criminal cases.[[Read More Delimiter]]

Mr. Strassberg is a Fellow of the American College of Trial Lawyers, one of the premier legal associations in America. He has twice been recognized by The American Lawyer as “Litigator of the Week” as a result of his securing extraordinary victories in some of the most closely followed white collar cases in the country, including the Rorech insider trading case, the Lane accounting fraud case and the KPMG criminal tax shelter case.

In 2014, Chambers USA again ranked Mr. Strassberg in Band One, being among the top 20 New York-based white collar defense lawyers. Clients noted that he displays “an incredible combination of intelligence and approachability, and has a knack for taking complicated issues and making them understandable.” Chambers also named Mr. Strassberg a “Recognized Practitioner” in the National: Trial Lawyers section. For several years he has been rated as being among the Top 100 lawyers in New York by New York Super Lawyers and is regularly included in The Best Lawyers in America and other surveys of the top white collar litigators in the country.

Mr. Strassberg is also recognized by his peers as being one of the finest white collar attorneys in the market, twice being cited in Law 360 by white collar partners at other firms as being the white collar lawyer that impressed them, or that they most feared to go up against in court.

Mr. Strassberg represents individuals and entities in almost all the major white collar cases that have occurred over the last several years. He has recently represented:

Individual Representations

  • Former SAC Capital Advisors portfolio manager, Mathew Martoma, against criminal and SEC allegations of insider trading. Prosecutors alleged that Martoma participated in the largest-ever insider trading case, committing securities fraud by trading on shares of two pharmaceutical companies using non-public information, resulting in over $276 million in gains.
  • The former CEO of a Fortune 30 health care company in connection with an investigation by the SEC relating to alleged fraudulent disclosure and insider trading violations. After engaging in an extensive Wells process, no charges of any kind were brought against our client.
  • Jon Paul Rorech, a Deutsche Bank trader, in SEC v. Rorech, et al., 09 Cv 4329 (S.D.N.Y.), the first-ever insider trading case involving credit default swaps. After a month-long bench trial, the Court dismissed all charges against Mr. Rorech, providing Mr. Strassberg's client with a sweeping victory in a landmark case regarding practices in the fixed income markets.
  • Richard Lane, the former President of the Worldwide Medicines division of Bristol-Myers Squibb (BMS), in criminal and civil securities cases involving allegations of fraud in connection with so-called "channel stuffing" practices at BMS. In United States v. Fred Schiff and Richard Lane, 06 Cr. 406 (D.N.J.), after more than 5 years of pre-trial litigation, Mr. Strassberg was able to convince the government to agree to dismiss the charges against Mr. Lane as part of a deferred prosecution agreement. Mr. Strassberg secured this victory after he had convinced the District Court to dismiss certain government theories of liability and had that decision affirmed on appeal by the Third Circuit.
  • A senior officer of a large financial institution, in connection with investigations by the SEC, the New York Attorney General's Office and the U.S. Congress into transactions related to the credit crisis. 
  • David Greenberg, a former KPMG partner, in US v. Stein, et al., 05 Cr. 888 (S.D.N.Y), a case described by the government as the largest criminal tax case in U.S. history. After a two-and-a-half month trial, the jury acquitted Mr. Greenberg of all charges, while convicting all of the other defendants of multiple counts. In addressing the jury following Mr. Strassberg's summation, the government conceded that the key cooperating witness in the case "got destroyed on cross-examination by Mr. Strassberg" and that his examination was so effective that the prosecutor "personally wanted to crawl under the table." Mr. Strassberg was recognized by The American Lawyer as "Litigator of the Week" as a result of his advocacy at the trial.
  • The head of the China business of an international merchandise company in connection with DOJ and SEC investigations of potential FCPA violations relating to the marketing and sale of products in China, including the alleged provision of gifts and entertainment to Chinese officials. 
  • The president of a foreign corporation in connection with DOJ and SEC investigations of potential FCPA violations relating to the award of telecommunications contracts in the Balkans to the subsidiary of an international telecommunications company. 
  • The president of a foreign bank in connection with a DOJ investigation of potential FCPA violations relating to the bank’s activities in Kyrgyzstan.
  • The chief legal officer of an oil and gas company in connection with a far-reaching FCPA investigation involving alleged bribery in connection with large oil and gas projects overseas. No charges were brought against our client.
  • A former officer of Standard & Poors in connection with DOJ and SEC investigations into the rating agency’s conduct, including in the case United States v. McGraw-Hill Companies, Inc et al,  2:13 Cv. 779 (CDCA).

Corporate Representations

  • Countrywide Financial Corporation and Countrywide Home Loans in connection with a FIRREA and False Claims Act case filed against Bank of America and Countrywide in connection with the sale of mortgage loans to Fannie Mae and Freddie Mac. The trial judge called Mr. Strassberg’s examination of a witness “a model of how I would hope the examination and cross-examination and testimony will be conducted,” noting that Mr. Strassberg’s questions were “by and large models of clarity and simplicity.” He suggested to the parties: “if you want to have a model in mind of what the Court would prefer to see, you've just seen such a model.” United States ex rel O’Donnell v. Bank of America, 12 Cv. 1422 (SDNY).
  • Wegelin & Co., the world’s oldest private Swiss bank, in defending against criminal tax challenges from the DOJ, IRS and U.S. Attorney’s Office that the bank assisted U.S. clients in evading their tax obligations. United States. v. Wegelin & Co., 12 Cr. 2 (S.D.N.Y).
  • Bank of America in connection with a case filed by the New York Attorney General alleging violations of the State’s Martin Act and consumer protection statues based on the operation of the Mortgage Electronic Registration Systems, Inc. People v. JP Morgan Chase Bank, et al. (Index No. 2768/2012 Kings County, NY).
  • The audit committee of Puda Coal, Inc, a NYSE listed company, in conducting an investigation into allegations that several hundred million dollars of value was stolen from the company by its Chinese officers in connection with transactions involving the largest private equity fund in China, controlled by the Chinese government. Mr. Strassberg also represents the US members of the audit committee in connection with several related civil securities lawsuits.
  • A biotechnology company in connection with criminal investigations by the Department of Defense, Office of Inspector General and the U.S. Attorney’s Office into allegations of over-billing and fraud in connection with various government contracts. 
  • An international broker-dealer in connection with multiple investigations by FINRA and the SEC involving its fixed income business. Mr. Strassberg conducted an internal investigation, represented the company and its employees in multiple days of testimony before the regulators, and responded through written submissions and oral presentations to the issuance of a Wells notice to the client. As a result of this advocacy, the regulators ultimately declined to initiate any enforcement action against the client.
  • Multiple institutional clients in connection with the public pension fund pay-to-play investigations being conducted by the New York Attorney General's office, the SEC, the New Mexico U.S. Attorney's Office and various state regulators.
  • An institutional client in connection with the investigations into the municipal bond industry being conducted by the Department of Justice Anti-Trust Division as well as the SEC.
  • Direct Revenue and its founders in litigation against the New York Attorney General's office in the leading Internet spyware case in the country. The New York Attorney General's Office billed the case as the largest Internet spyware case in history and it garnered substantial media attention, including profiles in the Wall Street Journal and the New York Times, and a cover story of Business Week. Mr. Strassberg moved to dismiss the case on a variety of grounds, including the enforceability of internet contracts and the scope of authority of the New York State Attorney General in Internet cases. The court agreed and dismissed the entire case.

Among certain of Mr. Strassberg's other current and past cases and representations are:

  • The Martha Stewart case, representing Peter Bacanovic, Ms. Stewart's former Merrill Lynch financial advisor.
  • The Enron investigation, representing a banker from a large international financial institution involved in structuring off balance sheet transactions with Enron.
  • Various individuals and entities in numerous investigations conducted by the NYAG’s Office.
  • Various officers of financial institutions in connection with investigations and lawsuits relating to CDOs and the credit crisis.
  • Numerous investigations by various criminal and regulatory agencies into allegations of securities fraud, Foreign Corrupt Practices Act violations, health care fraud, off-label marketing of drugs, accounting fraud, anti-trust violations, price-fixing, insider trading, corporate governance violations, tax fraud, bribery of public officials and obstruction of justice.

Civil Litigation

In addition to his work in the white collar and regulatory arenas, Mr. Strassberg represents clients in complex civil litigation, including representations involving securities class action defense, minority shareholder rights, trade secrets, ERISA class action defense, health care and insurance litigation, and commercial disputes. Civil cases include:

  • The successful defense of theft of trade secret, breach of contract and tortious interference claims against an international electronics company, including the dismissal of federal and state complaints filed in NJ courts and the defense of a two-week ICC arbitration in London.
  • The successful filing of a summary judgment motion in a securities case alleging breach of fiduciary duties, resulting in the dismissal of all claims against his client.
  • The resolution of a minority shareholder dispute for a client, resulting in the client receiving a multi-million dollar settlement that far exceeded the client's initial request for relief.
  • The successful defense of a two-week commercial arbitration regarding a multi-million dollar joint-venture dispute, resulting in a total victory for his client, including an award of attorney's fees.

Mr. Strassberg was recognized as being among the Top 100 lawyers in New York by New York Super Lawyers and has been consistently recognized in Chambers USA: America’s Leading Lawyers for Business as being one of the top white collar litigators in New York. He was also honored by inclusion in U.S. News-Best Lawyers.

In 2005, Mr. Strassberg was selected to present the Fifth Annual Korn Lecture at Cornell Law School. In 2004, he received the Burton Award for Legal Achievement, which recognizes excellence in legal scholarship. Mr. Strassberg was honored for authoring “Is Selective Waiver of Privilege Viable?” which appeared in The New York Law Journal.

Mr. Strassberg was a recipient of the 2001 Executive Office of the U.S. Attorneys Director’s Award for Superior Performance as an AUSA. He also received the National Award for Prosecutorial Excellence from the Federal Law Enforcement Officers Association in connection his successful prosecution of a $40 million Medicare fraud and numerous other awards and commendations for his work on various prosecutions.

As Chief of the Major Crimes Unit in the U.S. Attorney’s Office for the Southern District of New York, Mr. Strassberg was responsible for supervising approximately 25 Assistant U.S. Attorneys in the prosecution of white collar criminal cases, including corporate crimes, financial institution fraud, Foreign Corrupt Practices Act cases, money laundering, computer and internet crimes, intellectual property crimes, health care fraud, tax fraud, bankruptcy fraud, environmental crimes, and mail and wire frauds.

Prior to becoming the Chief of Major Crimes, he was a member of the Southern District of New York Securities and Commodities Fraud Task Force, responsible for prosecuting some of the largest securities fraud cases in the country. Throughout his tenure as an Assistant U.S. Attorney, Mr. Strassberg personally handled all phases of the criminal prosecution of cases involving violations of the securities, anti-fraud, bankruptcy, tax, narcotics, money laundering and involuntary servitude laws, from investigation through trial and appeal, including the successful trial of multiple complex financial and securities frauds.


Professional Activities

Mr. Strassberg is a Fellow of the American College of Trial Lawyers and a member of the Board of Directors of the New York Lawyers for the Public Interest. He is a member of the Federal Bar Council and holds the position of Master in the Federal Bar Council Inn of Court Program. Mr. Strassberg is also a member of the New York Council of Defense Lawyers, the New York City Bar Association’s Criminal Justice Council and the ABA’s Criminal Justice Section. He has taught upper level students as an adjunct professor at Fordham Law School and as an adjunct professor at Brooklyn Law School.

While a federal prosecutor, Mr. Strassberg served as a member of the Attorney General’s Advisory Committee – Subcommittee on Health Care Fraud and as the Health Care Fraud Coordinator for the Southern District of New York, U.S. Attorney’s Office. He served as the Chairperson of the Southern District of New York Bankruptcy Fraud Task Force, as a member of the National Bankruptcy Fraud Working Group and as a U.S. Delegate to China as part of the State Department’s Intellectual Property Enforcement Exchange Program.

Mr. Strassberg is involved with pro-bono work and has served as a member of the SDNY Criminal Justice Act panel, representing indigent defendants in criminal cases. As part of his pro bono service, he has acted as standby-trial counsel to an indigent defendant and successfully argued a criminal appeal before the Second Circuit. Mr. Strassberg is also a member of the Executive Committee of the UJA's Criminal Law Group.

Media

Mr. Strassberg is the author of an essay in the book Beyond a Reasonable Doubt, edited and introduced by Larry King. He was featured in a detailed video interview by the New York Times and has been a legal commentator on various programs, including NPR, Fox News, Dateline and the Financial Management Network. He also authored a chapter on Foreign Corrupt Practices Act investigations in Inside the Mind: International White Collar Enforcement.

Mr. Strassberg co-authors a quarterly column on Federal Civil Enforcement in the New York Law Journal, has published numerous articles in various legal periodicals and has been a guest speaker for various organizations, including the American Bar Association’s National Institute on Internal Corporate Investigations, the New York Council of Defense Attorneys, the Federal Bar Council, the Association of the Bar of the City of New York, the Massachusetts Bankers Association, the ABA Business Law Section, the Capital Region Bankruptcy Bar Association, the Federal Bar Association, the Department of Health and Human Services and the National Association of Criminal Defense Lawyers.

Quality Control Breakdowns Form Basis of Government Action
New York Law Journal
February 28, 2014

The Joint Defense Privilege and Selective Waiver in Government Investigations
New York City Bar Association’s Privileges in Regulatory and Criminal Investigations – Legal and Ethical Issues Panel
November 18, 2010

Criminal Discovery: Reform To Level the Playing Field?
New York Law Journal
September 14, 2010

Litigator of the Week: Richard Strassberg
The AmLaw Litigation Daily
July 1, 2010

The Importance of a Well-Planned Cross Examination
The Metropolitan Corporate Counsel
August 1, 2009

To Proffer or Not to Proffer? That is the Question
New York Law Journal
June 9, 2009

Navigating Parallel Proceedings
New York Law Journal
July 24, 2006

The Pendulum Swings Back
White Collar Crime
May 1, 2006

Is Selective Waiver of Privilege Viable?
New York Law Journal
July 7, 2003

Circuit Grapples With “Honest Services” Fraud
New York Law Journal
July 8, 2002

Protecting Privileges
Legal Times
June 6, 2002

'Corruptly Persuading' The Obstruction of Justice
White Collar Crime Reporter
May 1, 2002

Proposing Changes on Discretion in Sentencing
New York Law Journal
April 25, 2002