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Introduction
George Skelly is a litigator with more than 30 years of experience successfully representing officers, directors, and companies in high stakes litigation, government investigations, and arbitrations as well as complex commercial disputes. George heads the firm’s Securities Litigation practice.
My focus
I focus on defending officers, directors, and companies in securities fraud class actions, shareholder derivative actions, SEC inquiries, and enforcement actions. I also represent companies in a variety of large commercial disputes including advising companies in merger and acquisition transactions. I obtained the complete dismissal of a federal securities fraud class action alleging many hundreds of millions in damages against a public beverage company, including the affirmance of the dismissal in the federal appeals court. I litigated and tried claims for $1 billion in principal and interest in the largest Chapter 11 bankruptcy case filed in Delaware. I represented a major public REIT in a contest for control initiated by activist shareholders. My team obtained a complete victory in a two-year federal court enforcement action by the SEC against the collateral manager of a complex derivative financial product (CDO). I successfully defended the CEO of a major public software company in a 15-day federal jury trial in which the SEC claimed accounting fraud. Acting as “plaintiff’s counsel,” I achieved a significant victory for a consumer product company in an arbitration against a component supplier to recover costs associated with a major product recall. I have defended individual officers and directors in SEC actions and investigations in each of the recent major waves of securities litigation, including market timing, stock option backdating, and financial-crisis-era mortgage-backed securities offerings.
Representative experience
- Successfully defended a major federal securities fraud class action against a public beverage company alleging many hundreds of millions in damages. Obtained complete dismissal of the case on a motion to dismiss before the federal district court in New York, followed by affirmance of the dismissal on the appeal to the federal Court of Appeals.
- Representing the former chairman of a major pharmaceutical company in defending securities fraud class actions and derivative actions.
- Successfully represented the indenture trustee for bondholders of an energy company in one of the largest bankruptcy litigations in U.S. Bankruptcy Court, including a three-week trial of complex intercompany liabilities, corporate governance, and rights to post-petition interest and “make-whole” premiums.
- Represented a multibillion-dollar public REIT in multi-front shareholder and derivative litigation regarding a change-of-control contest in Massachusetts federal courts and in arbitrations.
- Successfully defended a public pharmaceutical company in Delaware and Massachusetts class and derivative actions challenging a merger on fiduciary duty and disclosure grounds.
- Obtained dismissal of Securities and Exchange Commission’s claims in high-profile CDO/CDS case alleging securities law violations by collateral manager of $1 billion CDO.
- Successfully defended the former CEO of a major public software company in a two-week federal jury trial brought by the Securities and Exchange Commission alleging securities fraud in accounting for software transactions.
- Obtained eight-figure payment in resolution of major commercial litigation on behalf of a consumer product company seeking damages related to a product recall from a component supplier in a case alleging product defects.
- Conducted an internal investigation of a public entertainment-products company regarding allegations of accounting irregularities for the audit committee of the board of directors.
- Successfully defended and resolved private antitrust-conspiracy claims brought against a manufacturer of materials used in consumer products.
- Successfully obtained damages award in arbitration on claims for breach of supply contracts on behalf of a consumer product company.
- Successfully defended the Boston Beer Company, Inc., in several nationwide class actions in state and federal courts in which plaintiffs alleged that the company and other brewers and distillers violated state laws by allegedly targeting minors in advertising.
- Representing officers of public companies in internal investigations and Securities and Exchange Commission investigations regarding stock options grants.
- Defense of officer of major mutual fund company regarding very high profile claims brought by the Securities and Exchange Commission alleging market timing.
- Defense of officer of major mutual fund company in Securities and Exchange Commission investigation regarding allegations of improper use of directed brokerage, soft dollars, and other payments for “shelf space.”
- Successfully defended officers and trustees of mutual fund companies in numerous class actions and derivative actions claiming that the mutual fund companies improperly permitted market timing in their funds.
- Successfully defended officers and trustees of mutual fund companies in numerous class actions and derivative actions claiming that the mutual fund companies engaged in impermissible “shelf space” arrangements with brokerage companies or otherwise charged excess fees.
- Representing investment management firm in connection with Securities and Exchange Commission and Commodity Futures Trading Commission investigations.
- Representing major mutual fund complex in a variety of litigation matters.
Federal Court Clerkships
- Judge Ruth Bader Ginsburg, U.S. Court of Appeals for the D.C. Circuit, 1984–1985
Looking ahead
My sense is that the SEC will sharpen its focus on the developing field of digital assets including initial offerings of digital tokens, and private litigation will follow suit. At the same time, the SEC will expand the reach of its insider trading claims, while continuing to pursue more traditional accounting fraud claims. Trials of SEC enforcement actions will become more common as the SEC increasingly refuses to accept “neither admit nor deny” settlements from companies. More broadly, arbitration will likely continue to grow as an alternative forum for dispute resolution.
In the news
- Bloomberg Law
Juul Labs director denies claims he benefitted from bail-out
March 13, 2024The following article covers a high-profile investor dispute involving Juul and JL Tao LLC that began trial this week in Delaware, and mention NP for representing the companies. San Francisco Privacy & Technology partner Rob Weikert is leading the NP team, which also includes Complex Disputes partner George Skelly of Boston and department attorney Leon Roubinian of San Francisco; Privacy & Technology counsel Andrew Winetroub of San Francisco; Affordable Housing & Real Estate associate Grant Wilson, Complex Disputes associate Sabrina Tran, and Intellectual Property associate Carlo Bustillos, all of the San Francisco office; Labor & Employment senior paralegal Everett Clark and Complex Disputes senior paralegal Allen Rose, both of the San Francisco office.
- Law360
Juul investor tells Chancery: ‘We were trying to help’
March 13, 2024The following article covers a high-profile investor dispute involving Juul and JL Tao LLC that began trial this week in Delaware, and mention NP for representing the companies. San Francisco Privacy & Technology partner Rob Weikert is leading the NP team, which also includes Complex Disputes partner George Skelly of Boston and department attorney Leon Roubinian of San Francisco; Privacy & Technology counsel Andrew Winetroub of San Francisco; Affordable Housing & Real Estate associate Grant Wilson, Complex Disputes associate Sabrina Tran, and Intellectual Property associate Carlo Bustillos, all of the San Francisco office; Labor & Employment senior paralegal Everett Clark and Complex Disputes senior paralegal Allen Rose, both of the San Francisco office.
- Law360
Second Circuit shelves investor suit over hard seltzer sales
Nov 22, 2023This article covers a Second Circuit Court of Appeals decision affirming a District Court ruling that dismissed a proposed securities class-action lawsuit against Boston Beer Co., scoring a complete victory for the company. The NP team included Boston Complex Disputes partners George Skelly and Morgan Nighan, Rochester Privacy and Technology partner Rick McGuirk, Boston Corporate senior counsel Fred Grein, New York City Complex Disputes partner Chris Mason, Boston Privacy and Technology counsel Ronaldo Rauseo-Ricupero, Boston Complex Disputes associate Matt Costello, and Boston paralegal Erin MacMahon.
- Bloomberg Law
Wells Fargo, US Bank say Hertz owes them money after bankruptcy
Oct 25, 2023This article covers US Bank and Wells Fargo asking the US Court of Appeals for the Third Circuit to reverse a December 2021 ruling in the Hertz Corp. Chapter 11 case that dismissed the banks’ claims for make-whole premiums on a series of unsecured notes that totaled $2.7 billion. The article mentions NP for representing US Bank in the case. Boston Corporate partner and Bankruptcy & Financial Restructuring team leader Rick Pedone appeared on behalf of US Bank. The NP team also includes Boston Complex Disputes partner George Skelly, New York City Corporate counsel Chris Fong, Boston Corporate associate Jack Murray, and Boston Global Finance senior counsel Rob Coughlin, who leads the client relationship in the matter.
- Law360
Court cans Boston Beer Co. investor suit over hard seltzer
Dec 6, 2022The following article mentions NP for representing The Boston Beer Co. in securing a complete dismissal of a securities class action lawsuit against the company that claimed it hid declining hard seltzer sales to increase stock prices. The NP team includes Boston Complex Disputes partners George Skelly and Morgan Nighan, Rochester partner and Financial Services and Alternative Investment deputy team leader Rick McGuirk, and Boston Cybersecurity & Privacy counsel Ronaldo Rauseo-Ricupero.
- Law360
Boston Beer beats investor suit over hard seltzer sales forecasts
Dec 6, 2022The following article mentions NP for representing The Boston Beer Co. in securing a complete dismissal of a securities class action lawsuit against the company that claimed it hid declining hard seltzer sales to increase stock prices. The NP team includes Boston Complex Disputes partners George Skelly and Morgan Nighan, Rochester partner and Financial Services and Alternative Investment deputy team leader Rick McGuirk, and Boston Cybersecurity & Privacy counsel Ronaldo Rauseo-Ricupero.
- Law360
Truly Seltzer maker says investors' stock suit has no case
This article covers a motion to dismiss a class action securities lawsuit against Boston Beer Co. related to sales of hard seltzer, and mentions Boston Complex Disputes partners George Skelly and Morgan Nighan and Rochester Privacy & Technology partner Rick McGuirk for representing Boston Beer CoMarch 17, 2022 - Massachusetts Lawyers Weekly
With New Amicus Advisory Board, Greater Boston Chamber Plans to Amplify Its Voice in Courts
Boston Complex Commercial Disputes partner George Skelly is mentioned in this article as a member of the Greater Boston Chamber of Commerce’s first-of-its-kind Amicus Advisory Board. The story focuses on how the first-of-its-kind advisory board will help the Chamber establish a formal process for reviewing amicus brief requests as well as proactively identifying opportunities to voice perspectives of businesses and employers.Nov 5, 2020 - Law360
Chancery energizes investor bids to probe corporations
Boston Complex Commercial Disputes partner George Skelly and partner-elect Morgan Nighan analyze a recent decision in Delaware Chancery Court that could broaden stockholders’ ability to inspect a corporation’s books and records without evidence of a specific violation by directors.Jan 17, 2020 - Law360
Chapter 11 doesn't cancel TM contract, clothier tells high court
Financial Restructuring & Bankruptcy partners Lee Harrington of Boston and Dan Sklar of Manchester and Complex Commercial Disputes partner George Skelly of Boston are mentioned in this story for their representation of Tempnology in an ongoing licensing suit, which is now before the Supreme Court.Dec 12, 2018 - Boston Globe
SJC decision on EMC lawsuit could have broad implications for Mass. Boards
Boston government investigations and white collar defense associate Eric Walz, commercial litigation partner George Skelly and M&A and corporate transactions senior counsel Bill Kelly provided insight about how legal decisions can have broader business implications for clients in this article about a Massachusetts Supreme Judicial Court decision involving former EMC corporation chief executive Joe Tucci and EMC’s shareholders.March 23, 2017 - Law360
Recent merger ruling is good for Massachusetts directors
Boston commercial litigation partner George Skelly, M&A and corporate transactions senior counsel William Kelly and government investigations and white collar defense associate Eric Walz contributed this article about the Massachusetts SJC’s guidance regarding fiduciary duties of directors of publicly traded Massachusetts corporations.March 17, 2017 - Reuters
Texas Utility Energy Future Pushes Bankruptcy Exit Plan in Trial
This article focuses on Energy Future Holdings Corp, Texas’s biggest power company, request of a US bankruptcy court to allow the bulk of its operations to exit Chapter 11. The coverage notes that Energy Future faces stiff opposition from a group of creditors—including NP client American Stock Transfer & Trust Co. LLC—about how tax assets would be used in the power giant’s proposed spinoff of its major operating unit as the company kicked off the first half of its second attempt to exit bankruptcy. Boston financial restructuring and bankruptcy partner Rick Pedone is quoted and Boston global finance partner Amanda Darwin, Boston commercial litigation partner George Skelly, and New York City financial restructuring and bankruptcy associate Christopher Fong are listed among American Stock’s counsel.Aug 17, 2016 - Law360
A Broadening Risk of Securities Liability after <em>Omnicare</em>
Boston Commercial Litigation partners Matt McLaughlin and George Skelly authored this column discussing the “case revival” trend following U.S. Supreme Court's decision in Omnicare Inc. v. Laborers District Council Construction Industry Pension Fund.July 9, 2015
Admitted to practice
Massachusetts
U.S. Court of Appeals, First Circuit
U.S. Supreme Court
Education
Columbia Law School, J.D., 1984, James Kent Scholar and Harlan Fiske Stone Scholar
Princeton University, B.A., 1976, magna cum laude
Professional activities
Former co-chair of Boston Bar Association’s Securities Enforcement and Litigation Committee.
Recognition
- Selected, through a peer-review survey, for inclusion in The Best Lawyers in America® 2025 in the field of Litigation—Securities; listed since 2017
Insights And Happenings
View AllProfessionals in the Practice Area
View AllDan Deane
Partner / Leader, Class Actions and Aggregate Litigation / Co-Leader, TCPA & Consumer Privacy Team- Manchester
- Office:+1 603.628.4047
- ddeane@nixonpeabody.com
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Christopher M. Mason
Partner / Deputy Leader, Class Actions and Aggregate Litigation / Leader, Arbitration Team- New York
- Office:+1 212.940.3017
- cmason@nixonpeabody.com
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Carolyn G. Nussbaum
Senior Counsel- Rochester
- Office:+1 585.263.1558Mobile:+1 585.766.1480
- cnussbaum@nixonpeabody.com
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Joseph J. Ortego
Partner / Diversity Partner / Chair, NP Trial® / Leader, Aviation- New York
- Office:+1 212.940.3045
- jortego@nixonpeabody.com
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