Matthew M. Riccardi
Matt is a seasoned litigator with more than 20 years of experience representing companies and investment funds in commercial and securities disputes and in internal investigations and regulatory enforcement proceedings.
Matthew Riccardi's civil litigation practice includes securities class actions, shareholder derivative suits, and a variety of commercial disputes, focusing on sophisticated financial products such as sovereign debt instruments and derivatives.
His recent defense successes include dismissal of a securities class action against an electric vehicle (EV) manufacturer accused of failing to disclose related party transactions, dismissal of another securities class against a former media company director involving allegations against the company and its CEO, and a favorable settlement against a medical cannabis company involving claims of 10b-5 violations related to allegedly fraudulent transactions benefiting company insiders.
Matt also frequently represents public companies, their directors, and their senior officers in proceedings before the U.S. Securities and Exchange Commission, Commodities Futures Trading Commission, U.S. Department of Justice, Financial Industry Regulatory Authority, Inc., and other regulatory agencies. Matt has conducted numerous internal investigations involving a range of issues, including trading practices, internal controls, valuations, and corruption.
A member of the Federal Courts Committee and the Securities Litigation Committee of the New York City Bar Association, Matt has been recognized by The Legal 500.
Areas of focus
Industries
Services
Education & Credentials
Education
- University of Michigan Law School, J.D., cum laude, 2002
- Yale University, B.A., 1996
Bar and Court Admissions
-
New York
- U.S. Court of Federal Claims
- U.S. Court of Appeals for the Second Circuit
- U.S. Court of Appeals for the Sixth Circuit
- U.S. District Court for the Eastern District of New York
- U.S. District Court for the Southern District of New York
- U.S. District Court for the Eastern District of Michigan
Related Employment
- Richards Kibbe & Orbe LLP, New York, NY, Partner, 2012-2020; Associate, 2007-2011
- Debevoise & Plimpton LLP, New York, NY, Associate, 2002-2007
Professional Recognition
Recommended by The Legal 500 United States in the area of General Commercial Disputes and Securities Litigation, 2016 – 2020
Received awards for outstanding pro bono service from the Legal Aid Society in 2005 and 2006 for litigating a challenge to prison policies and procedures related to sexual abuse of prison inmates by prison staff
Insights
News
Professional Experience
Securities and Complex Financial Products Litigation
- Represented an EV manufacturer in a federal securities class action. Motion to dismiss the class action was granted.
- Represented an investment fund in litigation against a country related to sovereign debt bond payments.
- Represented a Canadian cannabis company in a federal securities class action. Favorably settled at the motion to dismiss stage.
- Represented various interdealer brokers and their affiliates in an antitrust class action alleging rate fixing by brokers and banks of the Swiss LIBOR benchmark rate.
- Represented investment funds in takings litigation before the U.S. Court of Federal Claims arising out of government action concerning Fannie Mae and Freddie Mac junior preferred and common shares.
- Represented a former director of a major television company in a federal securities class action litigation. Motion to dismiss granted.
- Represented an interdealer broker in an antitrust class action alleging manipulation of the ISDAFIX financial benchmark rate.*
- Represented individual defendants in a lawsuit alleging state and federal securities law claims in actions brought by the Federal Housing Finance Agency (FHFA) as conservator for Fannie Mae and Freddie Mac arising out of the purchase of billions of dollars in residential mortgage-backed securities.*
- Represented a hedge fund in lawsuits against a bank arising out of the termination of a total return swap transaction.*
- Represented a hedge fund in litigation brought by banks alleging breach of a credit agreement.*
*Prior experience
Investigations and White-Collar Representations
- Conducted an internal investigation arising from quant modeling practices for a global bank and represented the bank in related SEC and FINRA inquiries.*
- Represented the chief financial officer of a major financial institution in SEC and CFTC investigations and related multidistrict civil litigation.*
- Represented members of the board and audit committee of a major international car rental company in connection with a shareholder derivative demand investigation.*
- Represented the lead underwriting banker in an SEC investigation concerning municipal bond disclosures.*
- Represented an insurance company executive in an SEC investigation related to accounting issues.*
- Represented various individuals, including corporate officers, traders, and bankers, in DOJ, SEC, and FINRA enforcement proceedings and investigations related to trading, valuation, underwriting, accounting, market manipulation, and other issues.*
*Prior experience
Other Civil Litigation
- Represented a private equity firm in an earnout dispute. Settled on favorable terms.
- Represented a small business lender in litigation related to the Payroll Protection Program (PPP). Obtained a favorable settlement.
- Defended an international law firm and a former partner in litigation alleging violations of Section 487 of the New York Judiciary Law.* Case dismissed.
- Represented a large chemical manufacturing company in litigation alleging breach of the terms of a stock purchase agreement and noncompete agreement entered in connection with the sale of a subsidiary.* Settled on favorable terms.
*Prior experience