Steve LaRose is the chair of the firm’s Private Investment Fund Disputes team. He is a skilled commercial litigator who works with clients to resolve their business problems, particularly in defense of SEC investigations, and in disputes amongst parties in the areas of private equity and hedge funds, the securities laws, corporate governance, partnerships, tax credit investments and financial services.
Whether in large corporations, financial institutions, partnerships or closely held corporations, disputes continue to arise over corporate governance, fiduciary concerns, alleged violations of the U.S. securities laws and corporate control matters. I regularly represent businesses and individuals in front of the Securities & Exchange Commission (SEC), as well as state securities regulatory bodies. I am currently involved in defense of a number of actions asserted against clients by the SEC involving alleged disclosure issues in municipal bond offerings.
I represent private equity funds, hedge funds and managers and institutional investors to resolve disputes concerning fund management, compliance issues, redemptions and valuation matters. I am currently handling a matter involving the proper attribution of carried interests in a fund.
More and more, I see a trend involving private equity funds’ involvement in disputes at the operating company level, generally over management of the operating company or its dealings with third parties. Recently, I defended a private fund sued in its capacity as decision maker for one of its portfolio companies. Similarly, the SEC continues to be active in this space, paying particular attention to private equity firms’ methods of receiving fees.
I work with the firm’s first-in-class Tax Credit Syndication group, and I help clients protect their tax credit investments by resolving disputes between partners, working out problems at the operating partnership level and attending to tax credit compliance issues.
Greater focus and development of environmental, social and governance (ESG) standards. As changes in the globe’s climate continue to progress and social issues take a larger stage in society, many investors now demand greater disclosure of ESG plans and practices. Indeed, the risks associated with ESG issues—damaging weather events caused by climate change, serious health events like endemics or even a global pandemic, and attention or inattention to issues of equality—all can affect corporate performance. We have a patchwork of standards now, but I expect that the SEC and other regulatory bodies will develop new standards to stay with the times, and begin to enforce those standards to meet investor calls for greater transparency.
U.S. District Court, District of Massachusetts
U.S. Court of Appeals, First Circuit
George Washington University Law School, J.D.
Villanova University, B.A.
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