Scott N. Sherman

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Shareholder
Monarch Plaza
3414 Peachtree Road, N.E.
Suite 1600
Atlanta, Georgia 30326
T: 404.443.6706
F: 404.238.9636

Scott Sherman, shareholder in the Atlanta office of Baker Donelson, has extensive securities litigation experience, including representing public companies, directors and officers in securities class actions and derivative lawsuits, and representing special litigation committees, as well as representing companies and individuals involved in SEC and FINRA informal and formal enforcement proceedings. Additionally, Mr. Sherman handles financial services litigation and arbitrations, such as representing banks involved in litigation, representing accounting firms in litigation, representing broker-dealers and registered representatives in FINRA arbitrations and investment advisers in court proceedings, and representing residential mortgage servicers in litigation. Mr. Sherman handles complex commercial matters as well, including representation of private companies, their partners or members in business disputes.

Financial Services/Securities Litigation and Counseling: Mr. Sherman represents corporations and individual officers and directors in securities class actions and derivative litigation, special litigation committees in derivative actions, and represents companies and individuals in investigations before the United States Securities and Exchange Commission, FINRA, the Office of the Comptroller for the Currency, the CME Group and state regulatory bodies. He has also advised companies on pre-litigation securities matters including Sarbanes Oxley certification issues.

Mr. Sherman is co-chair of the Firm's Broker-Dealer/Investment Adviser Industry Service Team, and has extensive experience representing the broker-dealer and investment adviser industry. He represents broker-dealers and registered representatives in arbitrations administered by the Financial Industry Regulatory Authority (f/k/a the NASD and NYSE regulation, arbitration and enforcement units) and in state courts concerning customer disputes related to equity, debt and insurance-related products and employment matters. Additionally, he represents broker-dealers in investigations before the Financial Industry Regulatory Authority and investment companies and advisers before the United States Securities and Exchange Commission. Furthermore, Mr. Sherman represents investment banks in a variety of pre-litigation and litigation matters.

Mr. Sherman not only assists clients when litigation, arbitration and enforcement matters arise, but also works with clients on the front end related to compliance, regulatory and enterprise operations matters. His understanding of the industries he services not only helps his clients avoid disputes but also helps them to better service their clients and have more effective and efficient operations.

Complex Commercial Litigation: Mr. Sherman represents companies and individuals in complex commercial and general business litigation matters in state and federal district courts and in courts of appeal. These representations cover a variety of matters including professional negligence matters related to the accounting industry, contract disputes, business divorces, and internal disputes among members and partners related to claims of fraud and misrepresentation. Additionally, he has represented companies in intellectual property and international trade matters.

Mr. Sherman has assisted low-income individuals in general contract disputes and landlord-tenant matters through the Legal Aid Society and the Atlanta Volunteer Lawyers Foundation.  He is also a board member on the Southeastern Board for the Anti-Defamation League.

Representative Matters

  • Counsel investment banking clients related to placement agent agreements and successfully resolve disputes with third parties pre-litigation.
  • Defended investment company related to a formal investigation conducted by the Securities and Exchange Commission.
  • Defended financial institution related to a formal investigation by the Securities and Exchange Commission.
  • Defended investment advisor and its officers related to a formal investigation conducted by the Securities and Exchange Commission.
  • Defeated investor's attempt to sue officers of a Deal-Manager in FINRA arbitration whereby the court denied investor's Petition to Compel Arbitration and held no customer relationship existed.
  • Represented majority shareholder in action in Delaware Chancery Court and obtained appointment of receiver under 8 Del. C. § 291. Badii v. Metropolitan Hospice, Inc.
  • Defended officer of insurance company in tag-along litigation filed as a result of a New York Attorney General investigation.
  • Defended industry-leading specialty pharmaceutical and biopharmaceutical distribution services company and certain of its directors and officers in federal class action and derivative lawsuits alleging violations of the Securities Exchange Act.
  • Represented one of Georgia's largest public companies in relation to merger with world-renowned telecommunications company.
  • Represented the Special Litigation Committee of New York's largest cable provider on allegations of options backdating.
  • Represented billion-dollar public company in injunction action against hostile tender offeror and separately filed litigation against purported shareholder class actions.
  • Represented national and regional broker-dealers in numerous FINRA customer arbitrations seeking multimillion-dollar awards involving selling away, suitability, unauthorized trading, securities fraud, negligent supervision and investment banking/retail sales conflicts of interest.

Speaking Engagements & Publications

  • Quoted – "FINRA Launches Social Media Spot-Checks," onwallstreet (June 19, 2013)
  • Presenter – "How Not to Be the One Who Turns Out the Lights if the Ship is Sinking: Helping Protect Yourself and the Company You Serve," panel presentation of the National Association of Corporate Directors (NACD), Atlanta Chapter (June 19, 2013)
  • Speaker at Regional and National Membership Meeting for the National Society of Compliance Professionals (2008, 2009, 2010, 2011, 2012, 2013, 2014)
  • Speaker on D&O and E&O issues - Securities Litigation And Arbitration Update 2012 – "What’s Keeping Your Insureds Up At Night," New York, New York (September 2012)
  • Co-author – "Insurance Product Innovation And Suitability," NSCP Currents (November/December 2011)
  • Co-author – "SEC Adopts New Measures to Curtail 'Pay to Play,'" NSCP Hotline Memo (June 2010)
  • Presenter – "Confronting Regulatory Reform," Advisors Asset Management 2010 Executive Symposium, Chicago, Illinois (May 2010)
  • Presenter – "Securities Broker-Dealer Arbitrations from the Claimant's and Respondent's Perspectives," Securities and Corporate Subsection of the Atlanta Bar Association's Litigation Section (January 2010)
  • Presenter – "Fiduciary Duties for Broker-Dealers and Investment Advisers In Light of Proposed Legislation for Uniform Fiduciary Duty Standards," Atlanta Broker-Dealer/Investment Adviser Continuity Group (December 2009)
  • Author – "White House Proposes Harmonization of Duties for Broker-Dealers and Investment Advisers," NSCP Currents (September/October 2009)
  • Author – "Ensuring You Are Insured," SmartBusiness Atlanta (August 2009)
  • Author – "When the Baby Boom Era Becomes the Retirement Explosion: A Securities Compliance Professional's Guide to Protecting Her Firm and Senior Customers," The National Society of Compliance Professionals, Inc. (September 2007)
  • Author – "The NASD Revises Code of Arbitration Procedure," 27 Securities Litigation Forms & Analysis §1:10 (2007)
  • Author – "Your Company's D&O Policy: Will the Insured v. Insured Exclusion Surprise You?" ACC Docket 24, no. 8 (September 2006)
  • Author – "Private Securities Litigation Reform Act at Ten Years – Major Developments and Issues," Securities Litigation Forms & Analysis (2006)

Professional Honors & Activities

  • Selected as one of "Georgia's Legal Elite," by Georgia Trend Magazine (2011, 2013)
  • Named a Georgia Rising Star by Georgia Super Lawyers for Securities Litigation since 2010
  • Member – American and Atlanta Bar Associations  
  • Member – National Society of Compliance Professionals (2008 –  2013)
  • Board Member – Anti-Defamation League, Southeastern Region; Former member, Legislative Affairs Committee for the Southeast Region

Admissions

  • Georgia
  • Florida
  • District of Columbia
  • Virginia

Education

  • Emory University, J.D., 2001, with honor
  • Indiana University, B.A., 1998