Sadis & Goldberg

Sadis & Goldberg LLP is a New York-based law firm with practices in hedge, private equity, venture capital, real estate and commodity fund formation, family office, transactional counseling, compliance services, regulatory representation, litigation, derivatives, tax, ERISA, estate planning and real estate.[1][2] Sadis & Goldberg was voted "Best Global and North American Law Firm" for hedge funds[3] and ranked number five in 2016 Preqin Global Hedge Fund Report.[4]

Sadis & Goldberg
TypeLimited liability partnership
IndustryLegal services
Founded1997
HeadquartersNew York City
Key people
Jeffrey C. Goldberg
Ron S. Geffner
Douglas R. Hirsch
Websitewww.sglawyers.com

History

Sadis & Goldberg was founded in 1997. The firm's senior attorneys are former SEC enforcement lawyers and seasoned attorneys who started their careers in major law firms.[5]

Notable clients and cases
  • Represented SkyBridge Capital in its acquisition of Citigroup's Hedge Fund business.[6] The deal includes the purchase of Citi Alternative Investments' fund of funds, hedge fund seeding and advisory businesses, with $4.2 billion worth of assets under management.[7][8]
  • Legal counsel for a merger arbitrage hedge fund and Co-Lead Counsel for Orchard Enterprises, Inc stockholders' 195% gross recovery above the merger price for cashed-out stockholders.[9] This case was notable for the 2.3 times premium over the value of the merger price that was awarded[10] and a second recovery of an additional 29% above the merger price for hedge funds that previously succeeded in an appraisal action.[11] Sadis was able to make a strong showing of rescissory damages, which are rarely recovered in merger litigation. The case demonstrates a source of alpha for hedge funds engaging in shareholder activism and a strategy of exercising appraisal rights litigation in squeeze-out going-private transaction.[12]
  • In 2015, Sadis & Goldberg obtained a favorable settlement of no bar or suspension for ex-Wells Fargo analyst in High-Profile SEC Insider Trading Case. The settlement permits client to continue in securities industry, while neither admitting nor denying one charge of negligence-based ยง 17(a)(3) claim, and paying a $75,000 civil penalty.[13]
  • Sadis & Goldberg won a FINRA arbitration awards against Interactive Brokers with a payout three times higher than any prior FINRA Awards against the leading online broker.[14]

Awards
  • 2016 Best Global Law Firm - Hedgeweek Global Awards[15]
  • 2016 Best North American Law Firm - Hedgeweek USA Awards[16]

References
  1. "Bloomberg Company Overview of Sadis & Goldberg LLP". Bloomberg. Retrieved 27 January 2017.
  2. "We Practice Law. But We Live Business". Sadis & Goldberg. 10 May 2008. Retrieved 2017-01-12.
  3. "Sadis & Goldberg LLP - Best Global Law Firm". Hedge Week. Retrieved 27 January 2017.
  4. "2016 Preqin Global Hedge Fund Report". Preqin. Retrieved 27 January 2017.
  5. sglawyers.com, Retrieved January 27, 2017.
  6. prnewswire.com, Retrieved January 27, 2017.
  7. "Citi Sells Fund of Funds Unit to SkyBridge". New York Times. April 14, 2010. Retrieved January 18, 2017.
  8. "Citigroup to sell funds units to SkyBridge Capital". Rueters. April 14, 2010. Retrieved January 18, 2017.
  9. "Sadis & Goldberg Wins 195% Above Merger Price for Cashed-Out Orchard Stockholders". PR Newswire. September 24, 2014. Retrieved January 18, 2017.
  10. "Sadis & Goldberg Wins Appraisal Rights Trial Verdict Awarding Its Client Over Two Times The Value of the Merger Price". NYSE Securities Arbitration. March 14, 2014. Retrieved January 18, 2017.
  11. "195% Above Merger Price for Cashed-Out Orchard Stockholders". Sadis & Goldberg. September 24, 2014. Retrieved January 18, 2017.
  12. "Delaware Court of Chancery provides guidance on standards of review and remedies applicable in controlling stockholder take-private transactions". Clifford Chance. March 14, 2014. Retrieved January 18, 2017.
  13. "Ex-Wells Fargo Analyst Settles Insider Trading Case". law360.com. May 28, 2018. Retrieved January 18, 2017.
  14. "Sadis & Goldberg Wins FINRA Arbitration Award Against Interactive Brokers". www.nysecuritiesarbitration.com. February 10, 2015. Retrieved January 31, 2017.
  15. "Hedgeweek USA Awards 2016 "Best North American Law Firm"". HedgeWeek. September 19, 2016. Retrieved January 18, 2017.
  16. "Hedgeweek USA Awards 2016 - The Winners". United States: Hedge Week. Global Fund Media Ltd. 16 September 2016. Retrieved 22 January 2020.


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