© 2014 The Texas Lawbook.
By Brooks Igo
Staff Writer for The Texas Lawbook
(March 25) – Greenberg Traurig made a splash last month when it lured away a team of four white collar and securities lawyers from Locke Lord to join its Dallas office. It was another move by the firm in recent months to beef up its Texas litigation practice – the Miami-based firm added three patent litigators from Weil Gotshal to its Austin office just before the beginning of 2014.
Jason Lewis, a former SEC enforcement attorney, was the leader of the Locke Lord group to come over, and he is now chair of Greenberg Traurig’s Dallas white collar practice. Lewis, who has extensive experience with securities-related regulatory investigations and litigation, says there continues to be a heightened regulatory environment relating not only to public companies, but also to smaller investment advisors, broker-dealers and individuals.
In a Q&A with The Texas Lawbook, Lewis talks about why his team chose Greenberg Traurig, how the SEC’s Forth Worth Regional Office has changed since he was there and the kinds of cases he expects the SEC will focus on in 2014.
TLB: Why did you make the move to Greenberg Traurig?
Lewis: Greenberg Traurig’s platform, its people and its commitment to growth in Texas seemed like a great fit for my practice and me.
TLB: What are one or two of the biggest cases that you have handled in your career? What made those specific matters unique or interesting?
Lewis: Over the last several years, I have represented the former CFO of ArthroCare Corporation in securities litigation, an SEC action and in a criminal securities case in the Western District of Texas, Austin Division, which is set for trial in May. The representation has included numerous interesting and novel legal issues ranging from a non-culpable Sarbanes-Oxley 304 strict liability clawback action brought by the SEC to an indictment by the DOJ of both my client and the former CEO after the SEC did not pursue a scienter-based or even a negligence-based action against either of the former officers. In addition to the talented lawyers who came to Greenberg Traurig with me, I have also had the pleasure of working on this matter with several top-notch attorneys and firms, including great Texas trial lawyers Chuck Meadows and Rusty Hardin and his team (as co-counsel).
TLB: Since you were at the SEC, how have you seen the Fort Worth Regional Office change?
Lewis: Since returning to private practice in December of 2007, the main change that I have observed at the Fort Worth Regional Office is that the trial unit is a lot busier bringing many more contested actions. I think that the overall policy of the Commission in the last few years has made it tougher for the staff and defense counsel and their clients to reach reasonable settlements, which forces clients to opt for litigating rather than accepting a settlement that usually involves most, if not all, the relief that the SEC could ultimately obtain at trial.
TLB: Do you think the SEC needs an office in Houston? If so, why?
Lewis: I think the Fort Worth Regional Office and the home office in Washington, DC have sufficient resources to handle Texas without the need for an additional office in Houston. Because the SEC does not technically limit its regional offices to only investigating within their own region, the SEC’s enforcement arm has plenty of reach without adding additional offices.
TLB: What kinds of cases do you expect the SEC to focus on in 2014?
Lewis: There continues to be a heightened regulatory environment relating to not only public companies, but also to smaller investment advisors, broker-dealers and individuals. I believe that we are going to see an increase in investigations and enforcement actions relating to accounting/financial fraud, much like those brought in the early and mid 2000s. There will be a continued emphasis and focus on insider trading and alleged offering frauds, especially with regard to energy-related companies. FCPA issues are still a very high priority with both the SEC and DOJ.
TLB: Are you currently involved in any pro bono work? If so, please describe.
Lewis: I currently serve on the National Board of Trustees for Hugh O’Brian Youth Leadership (HOBY), whose mission is to inspire and develop our global community of youth and volunteers to a life dedicated to leadership, service and innovation. In addition to serving on the National Board of Trustees, I often provide pro bono legal advice and assistance to this great organization founded in 1958 by the great Western actor Hugh O’Brian.
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