Close X
Attorney Spotlight

How did Brianna Powell's work as a law clerk prepare her for practicing law? Read more>

Search

Close X

Experience

Search our Experience

Experience Spotlight

In June 2017, Pinnacle Financial Partners, Inc. (NASDAQ: PNFP) closed a $1.9 billion merger with BNC Bancorp (NASDAQ: BNCN) pursuant to which BNC merged with and into Pinnacle. With the completion of the transaction, Pinnacle becomes a Top 50 U.S. Bank. The merger will create a four state footprint concentrated in 12 of the largest urban markets in the Southeast. 

Bass, Berry & Sims has served Pinnacle as primary corporate and securities counsel for more than 15 years and served as counsel on the transaction. Our attorneys were involved in all aspects related to the agreement, including tax, employee benefits and litigation. 

Read more details about the transaction here.

Pinnacle Financial Partners logo

Close X

Thought Leadership

Enter your search terms in the relevant box(es) below to search for specific Thought Leadership.
To see a recent listing of Thought Leadership, click the blue Search button below.

Thought Leadership Spotlight

Regulation A+

It seems that lately there has been a noticeable uptick in Regulation A+ activity, including several recent Reg A+ securities offerings where the stock now successfully trades on national exchanges. In light of this activity, we have published a set of FAQs about Regulation A+ securities offerings to help companies better understand this "mini-IPO" offering process, as well as pros and cons compared to a traditional underwritten IPO.

Read now

Chris Lazarini Provides Insight on Case Claiming Legal Malpractice Related to Broker-Dealer Securities Violations

Securities Litigation Commentator

Publications

June 13, 2016

Bass, Berry & Sims attorney Chris Lazarini provided insight on the case of Damian vs. Carey & Winston & Strawn LLP in which the court-appointed receiver of a broker-dealer that committed securities violations sued the broker-dealer's attorneys for alleged malpractice. The Court denied the motion.

Chris provided the analysis for Securities Litigation Commentator (SLC). The full text of the analysis is below and used with permission from the publication. If you would like to receive additional content from the SLC, please visit the SLC website to sign up for the newsletter.

Damian vs. Carey & Winston & Strawn LLP, No. 15-c-4335 (N.D. Ill., 3/4/16) 

The mere fact that a broker-dealer commits securities violations as a result of its officers ignoring its attorneys' advice and failing to disclose to the attorneys that the advice was based on faulty assumptions does not preclude a claim for legal malpractice by the broker-dealer's receiver against the attorneys. 

In 2014, the Southern District of Florida granted summary judgment to the Commodity Futures Trading Commission in its fraud action against commodities brokerage Hunter Wise Commodities, LLC ("Hunter Wise"), and its principal officers ("Officers"), imposing a $55 million civil penalty jointly and severally against them. The Florida court appointed Plaintiff as Special Monitor and Corporate Manager for Hunter Wise, granting her full authority to sue others to preserve and increase the receivership estate.

Plaintiff sued Defendant attorneys, whom Hunter Wise retained to advise it regarding the impact of the then-pending Dodd-Frank Act on the company's business, alleging that they committed legal malpractice. Defendants moved to dismiss on collateral estoppel grounds, arguing that the Florida court found that the Officers ignored Defendants' Dodd-Frank warnings, knowing, but without disclosing to Defendants, that aspects of it were based on Defendants' faulty assumptions.

Examining the Florida court's opinion, the Court denies the motion. The malpractice claim, the Court explains, involves an examination of the adequacy of Defendants' representation of Hunter Wise, what Defendants were asked to do, what information Defendants were given, what Defendants might have done differently had they investigated more fully, and what Defendants allegedly neglected to do. Because the Florida court did not examine these issues, the Court finds that Defendants failed to demonstrate that the issues sought to be precluded are the same as the issues decided in the prior litigation. 

The Court telegraphs that it does not think much of the malpractice claims, suggesting that Plaintiff will face "a steep uphill battle" in convincing a fact finder that Defendants' acts or omissions proximately caused Hunter Wise to suffer damages, but noting that, at this stage, Plaintiff has stated a minimally plausible claim for legal malpractice.


Related Professionals

Related Services

Notice

Visiting, or interacting with, this website does not constitute an attorney-client relationship. Although we are always interested in hearing from visitors to our website, we cannot accept representation on a new matter from either existing clients or new clients until we know that we do not have a conflict of interest that would prevent us from doing so. Therefore, please do not send us any information about any new matter that may involve a potential legal representation until we have confirmed that a conflict of interest does not exist and we have expressly agreed in writing to the representation. Until there is such an agreement, we will not be deemed to have given you any advice, any information you send may not be deemed privileged and confidential, and we may be able to represent adverse parties.