Lee S. Richards III
Lee has devoted his 45-year career to representing clients in litigation involving their most consequential matters.
Lee S. Richards III represents businesses, corporate boards, and individuals in white-collar criminal defense, securities enforcement defense, regulatory proceedings, internal investigations, and complex commercial litigations. He has amassed extensive trial experience representing investment banks, hedge funds, public companies, investment advisers, corporate officers and directors, and other professionals in investigations and proceedings. These include matters before the U.S. Department of Justice (DOJ), U.S. Securities and Exchange Commission (SEC), New York Attorney General’s Office, New York District Attorney’s Office, Financial Industry Regulatory Authority, Inc., and other governmental entities and self-regulatory agencies.
Lee has served as the receiver in cases involving Bernard L. Madoff Investment Securities LLC and Westgate Capital Management, LLC. He was also appointed by the federal court to serve as independent examiner for computer associates and is currently leading the firm's independent compliance consultant team for one of the largest global banks. He has also served as SEC special compliance counsel, receiver and trustee in the liquidation of five securities firms, as well as three major insider trading cases.
A former Assistant U.S. Attorney for the U.S. District Court for the Southern District of New York, Lee handled major prosecutions of insider trading and securities fraud, including the first successful criminal prosecution of an insider trading case in U.S. history. In that high-profile securities fraud case, he developed the misappropriation theory of insider trading still prevalent today.
Lee is a recipient of the DOJ’s Award for Superior Performance, the Lifetime Achievement Award from the New York Law Journal, and the American Inns of Court Professionalism Award for the U.S. Court of Appeals for the Second Circuit. He was named one of The National Law Journal’s Top 50 Litigation Trailblazers & Pioneers, and Chambers USA has ranked him as a leading individual in White Collar & Government Investigations for 16 consecutive years and a leading individual in Securities Regulation-Enforcement from 2011 to 2024.
Education & Credentials
Education
- Columbia University School of Law, J.D., 1975
- Amherst College, B.A., summa cum laude, 1972
Bar and Court Admissions
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New York
Related Employment
- Richards Kibbe & Orbe LLP, New York, NY, Partner, 1990-2020
- U.S. Attorney’s Office, New York, NY, Assistant U.S. Attorney, 1977-1983
Clerkships
- Hon. Milton Pollack, U.S. District Court for the Southern District of New York
Professional Recognition
Listed in Who’s Who Legal: Business Crime Defence, 2021-2022
Listed in Best Lawyers in America®: Bet-the-Company Litigation; Corporate Compliance Law; Corporate Governance Law; Criminal Defense: White-Collar, 2006- 2024; Commercial Litigation, 2023-2024
Lifetime Achievement Award from the New York Law Journal, 2018
American Inns of Court Professionalism Award for the Second Circuit, 2015
Top 50 Litigation Trailblazers & Pioneers by The National Law Journal, 2014
National Litigation Star by Benchmark Litigation, 2014-2019
Ranked by Chambers USA as “America’s Leading Lawyer" for Litigation: White Collar & Government Investigations, 2007-2023; Securities Regulation: Enforcement, 2011-2023
Leading Lawyers by The Legal 500 in the area of Litigation: White Collar Criminal Defense, 2008-2021
Selected by Super Lawyers Magazine as a New York Super Lawyer, 2006-2023
Impact
Professional Leadership
- Federal Bar Council Inn of Court, President Emeritus
- Jazz Foundation of America Board of Directors, Member
- Columbia School of International and Public Affairs on corporate governance, Guest Lecturer
- Fordham Law School, Former Adjunct Professor
- American Inns of Court Board of Trustees, Former Member
- Advisory Board, Brennan Center for Justice, Former Member
Insights
News
Professional Experience
Banks and Broker Dealers
- Represented a British interdealer broker in the global investigations into LIBOR fixings and the ISDAFX benchmark.*
- Represented several major New York investment banks in a variety of DOJ, SEC, and FINRA investigations, including investigations regarding internet gambling, securities lending, the accuracy of SEC filings by a company underwritten by a global bank, auction rate securities, and interpositioning.*
- Represented a major international bank in the DOJ and SEC investigations of a major energy, commodities, and services company.*
- Represented a global bank in the DOJ investigation of false statements by portfolio managers of an acquired subsidiary.*
Public Companies and Their Boards
- Represented various audit committees for public companies including a major business information company, a media company, a branding company, a large software company, and a large real estate investment trust (REIT) in investigations of accounting and disclosure fraud, Foreign Corrupt Practices Act (FCPA) violations, trading violations, and embezzlement.*
- Represented a major pharmaceutical company in a Midwest Medicare investigation conducted by the DOJ.*
- Represented a special committee for an investigation of a shareholder demand regarding the bank’s anti-money laundering (AML) procedures.*
*Prior experience
Hedge Funds
- Represented a global hedge fund in an insider trading investigation conducted by France’s stock market regulator.*
- Represented the audit committee of a public global hedge fund in an FCPA investigation.*
- Represented a New York hedge fund in an extensive insider trading investigation conducted by the Manhattan U.S. attorney’s office.*
*Prior experience
Law Firms and Attorneys
- Represented a global law firm in an internal investigation into alleged corruption by a partner.*
- Represented a global law firm and its counsel in the investigation of bribery by the Connecticut state treasurer.*
- Represented a global law firm in an investigation by the New York attorney into allegations of self-dealing by a nonprofit client of the firm.*
- Represented in-house attorneys in a variety of security fraud and money laundering investigations.*
*Prior experience
Senior Executives
- Represented the chief executive officer of one of the largest international insurance companies in an SEC investigation.*
- Represented the chief executive officer of a major bank in an SEC and DOJ investigation regarding the accuracy of public statements during the Great Recession.*
- Represented high level executives of financial institutions in a major trading loss case, the research analyst case conducted by the New York attorney general and others, the IMDB investigation, and an SEC and DOJ investigation into alleged bribery in Brazil.*
*Prior experience
Companies and Individuals in Public Corruption Cases
- Represented an Argentinian sports marketing company in the FIFA investigation.*
- Represented several New York city officials in public corruption investigations.*
- Represented a senior attorney in the federal investigation of a leader of the New York state senate.*
*Prior experience