Arthur is a member of Herrick Feinstein's Executive Committee and Co-Chair of its Securities and Commodities Litigation and Regulatory Practice Group.
For over 25 years, since leaving the U.S. Securities & Exchange Commission, Division of Enforcement, Arthur has concentrated his practice in securities defense litigation and white collar defense matters, representing companies and individuals accused of business crimes and of violating federal and state securities laws. He represents broker dealers, venture capital firms, brokerage firms, investment bankers, securities traders, banks and private and public companies in civil litigation and class actions as well as in investigations and enforcement action proceedings before the SEC, U.S. Attorney's Office, State Attorney General, District Attorney, FINRA, various exchanges, and various state securities departments. Arthur has extensive trial experience and appears regularly in federal and state courts and before arbitration and alternative dispute resolution forums.
Arthur currently represents a Madoff feeder fund in multiple government investigations, investor class actions/derivative actions and claw back claims asserted by the Madoff bankruptcy trustee. Arthur recently successfully represented a major registered hedge fund in connection with SEC investigation claims relating to disclosure, marketing and asset valuation. The outside directors of a public company appointed Arthur to conduct an internal investigation of allegations made against officers and directors of the company in a securities shareholder derivative action. He has successfully defended individuals and corporations in class actions and represented a major international bank/securities firm in connection with the government's Enron investigation. Arthur also recently represented a major accounting firm before the SEC in an investigation regarding fraudulent practices in connection with the company's financial statements. He regularly represents individuals and corporations in SEC investigations involving insider trading, investment advisor and investment company act matters, and accounting and disclosure issues relating to publicly traded companies. Arthur is often called upon to replace existing counsel when SEC investigations have resulted in potential enforcement concerns.
In 1995, Arthur was appointed Special Settlement Master by the Honorable John E. Sprizzo, United States District Judge, Southern District of New York, to act as a fact finder and coordinate a multi-million dollar settlement involving the SEC and customers of a defunct brokerage firm.
Arthur also chairs Herrick, Feinstein's Title Insurance Litigation Group, which represents all of the major title insurance companies which do business in New York and New Jersey with respect to coverage issues and claims asserted against their insureds. Many of these cases involve fraudulent and criminal practices which give rise to title problems/claims and criminal prosecutions.
Prior to joining Herrick in 1987, Arthur served as Special Trial Counsel in the Division of Enforcement of the United States Securities and Exchange Commission. He prosecuted penny stock frauds, insider trading, accounting frauds and stock market manipulation cases involving individuals, public companies, broker dealers and their principals. While at the SEC, Arthur was temporarily assigned to the United States Attorney's Office for the District of New Jersey where he assisted the United States Attorney's Financial Crimes Unit.
Arthur is often quoted by national newspapers and securities journals, and has taught trial practice at the Cardozo Law School Intensive Trial Advocacy Program and has lectured on title insurance defense litigation issues. He also taught a class on Insider Trading at New York University School of Continuing Education, and has published articles on title insurance law and SEC investigations.
Arthur is currently a member of the Board of Directors of the Westchester, New York Chapter of the Juvenile Diabetes Research Foundation (JDRF).
Benjamin N. Cardozo School of Law, J.D., 1983