Civil Liability for Aiding and Abetting Commercial Fraud, Breach of Fiduciary Duty, and Other Business Torts
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will provide guidance on the expanding scope and risks of civil liability for aiding and abetting another's actionable wrongs and offer strategies for preventing unsuspecting clients from getting trapped in avoidable litigation.
Outline
- Overview and history of aiding and abetting liability
- Substantive elements of civil liability for aiding and abetting
- Underlying actionable wrong
- Knowledge of the underlying wrong
- Effect of motive on knowledge analysis
- Reckless disregard and intentional ignorance
- Substantial assistance in perpetuating the wrong
- Affirmative actions
- Concealment
- Failing to speak when under obligation to do so
- Sliding scale: balancing level of assistance with amount of knowledge
- Causation
- Aiding and abetting under the federal securities laws
- Frequent defendants and factual scenarios
- Defenses
Benefits
The panel will explore these and other key issues:
- What constitutes knowledge of the primary wrong and what type of facts must be alleged to withstand a motion to dismiss?
- What constitutes substantial assistance?
- What are common defenses to aiding and abetting torts?
- What is the difference between aiding and abetting and conspiracy?
- What information and documents should be sought in the discovery process?
Faculty
Donnell C. (Don) Much
Counsel
Osaic FA
Mr. Much is in-house counsel at Osaic FA, Inc. and Osaic FS, Inc. where his practice is comprised of litigating... | Read More
Mr. Much is in-house counsel at Osaic FA, Inc. and Osaic FS, Inc. where his practice is comprised of litigating FINRA Arbitration matters and managing litigation and regulatory matters impacting the broker-dealers. Prior to joining Osaic FA, Inc. and Osaic FS, Inc., Mr. Much worked as a Senior-Associate attorney for Gana Weinstein LLP, where he focused his practice on securities arbitration litigation with a focus on Arbitration before FINRA Dispute Resolution Services. Prior to joining Gana Weinstein, he was an associate in Berger Montague’s Securities Litigation Department, where he focuses his practice on complex securities litigation, class action securities "loss" calculations, securities arbitration litigation, and state and federal securities litigation. Before joining the Firm, Mr. Much worked as a Litigation Associate for six years at a full-service law firm in Devon, Pennsylvania, where he handled general and complex commercial litigation; securities arbitration cases filing suit against brokers, broker-dealers, and investment advisers in several different arbitration forums (FINRA Dispute Resolution, AAA, and JAMS); and Plaintiffs' side Ponzi scheme litigation cases. He has been named a 2019 – 2020 Pennsylvania "Rising Star" attorney in the area of securities litigation by Super Lawyers/Rising Stars, an attorney-rating service of Thomson Reuters.
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Benjamin R. Picker
Principal
Kaplin Stewart
Mr. Picker is a principal of the firm and a member of the Commercial Litigation Department. He is an accomplished... | Read More
Mr. Picker is a principal of the firm and a member of the Commercial Litigation Department. He is an accomplished litigation attorney with extensive experience in all types of civil litigation. Mr. Picker is known throughout the Philadelphia area for his thoughtful counsel to and forceful representation of clients in a broad range of legal disputes, including those relating to contracts, real estate and leases, mechanics’ liens, consumer protection, insurance, constitutional rights, securities, class actions, intellectual property, business law, creditors rights, and employment law. In addition to litigating, he counsels both family-owned businesses and multibillion-dollar corporations to ensure that they comply with all applicable laws and regulations, mitigate their risk, and otherwise protect their important legal and business interests. Mr. Picker regularly drafts, reviews, and negotiates contracts, including business contracts, employment agreements, HIPAA business associate agreements, and leases, and he counsels businesses and workers regarding complicated employment law matters.
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