Allan Taffet has more than 30 years of experience representing clients in complex civil disputes through trial and appeal. Allan represents multiple institutional clients in the financial services industry and capital markets in cases that involve securities, structured derivatives, employment and non-competition, breach of contract and contract construction, fraud, RICO, shareholder and partnership disputes and dissolutions. Over the last two decades, Allan has tried numerous cases in federal and state courts and before arbitration panels and administrative bodies.
Prior to private practice, Allan served as deputy chief of the Civil Division of the US Attorney’s Office for the Southern District of New York, where he was responsible for supervising 15 civil litigators in federal litigation in the Southern District of New York. Prior to that role, Allan was an Assistant US Attorney and served as chief of the Environmental Protection Unit. The US Department of Justice recognized Allan’s service with the US Attorney General’s Award for Distinguished Service, and twice with the Director’s Award for Superior Performance as an Assistant US Attorney.
Recent Notable Matters
Deutsche Bank AG — McMahan v. Deutsche Bank AG, et al., 2017 WL 3872477 (7th Cir. 2018). Seventh Circuit panel affirmed the lower court’s decision to dismiss all claims arising from plaintiffs’ unsuccessful participation in tax strategy, as against DB.
Credit Suisse Securities (USA) LLC — Zachs v. Credit Suisse Securities (USA) LLC, et al., FINRA Dkt. No. 12-04093 (July 8, 2015) Following a 4-day arbitration trial in New York City, the Panel dismissed all claims and recommended “expungement” of all references to the arbitration claims in the Central Registration Depository (“CRD”) as relating to the CS financial advisor.*
Deutsche Bank Securities Inc. — Deutsche Bank Securities Inc. v. Roskos, et al., 692 Fed Appx. 62 (2d Cir June 5, 2017) Affirming award of summary judgment to DBSI permanently enjoining tax shelter participant plaintiffs from pursuing claims in FINRA forum.*
NYU Hospitals Center — United States of America, ex. rel. Terence Sasaki v. NYU Hospitals Center, et al, 629 Fed Appx 46 (2d Cir Oct. 22, 2015) Affirming summary judgment dismissing qui tam and retaliation claims under the False Claims Act (FCA) filed against the university medical center arising from allegations of fraudulent billing practices for medical work never performed.*
Deutsche Bank AG — GG Capital v. Deutsche Bank AG, 654 Fed Appx. 329 (9th Cir. June 20, 2016) Affirming dismissal under Iqbal “plausibility” pleading standard of all claims against DB arising from plaintiffs’ participation in foreign currency digital options transactions.*
IDB Capital Corp. — Shram v. IDB Capital Corp., FINRA Dkt. No. 09-00609 (November 29, 2010) Following a 2-day arbitration trial in Los Angeles alleging various federal securities law violations, the Panel dismissed all claims against IDB Capital. *
DBSI — Oppenheimer & Co. v. DBSI, et al., FINRA Dkt. No. 10-04093 (January 13, 2015) Following an 18-day arbitration trial held over an eight-month period in New York City, arising from claimed violations of various federal securities laws, in an intra-industry dispute in which Oppenheimer sought more than $30 million in damages, the Panel dismissed all claims against Respondents in their entirety.*
DBSI — SMCB Capital, et al. v. DBSI, et al., FINRA Dkt. No. 11-02201 (December 11, 2013) Following a 20-day arbitration trial spanning 11 months in Newark, filed by four consolidated parties seeking damages in excess of $35 million, the Panel denied all claims against all Respondents in their entirety. *
Credit Suisse Securities (USA) LLC — Credit Suisse Securities (USA) LLC v. Investment Hunter, LLC, FINRA Dkt. No. 08-04754 (August 7, 2009) Following a one-day arbitration trial in Dallas, the Panel awarded Credit Suisse $2.7 million in compensatory damages, plus statutory interest, and separately levied an award of $1 million in punitive damages arising from the fraudulent breach of a stock borrower’s agreement and related margin credit agreements.*
* Work completed prior to Bracewell