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    1. Home
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    3. George J. SkellyPeople
    1. Home
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    3. George J. SkellyPeople

    George J. Skelly

    Partner


    • Boston
    • Office617.345.1220
    • gskelly@nixonpeabody.com
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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.

    Practice Areas

    Class Actions & Aggregate LitigationLitigationArbitration, Mediation & Alternative Dispute ResolutionComplex DisputesFinancial Institution InvestigationsSecurities & Governance Litigation

    My focus

    I focus on defending officers, directors, and companies in SEC inquiries, enforcement actions, securities fraud class actions, and shareholder derivative actions. I also represent companies in a variety of large commercial disputes including advising companies in merger and acquisition transactions. 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.

    Looking ahead

    What do you see on the horizon?

    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.

    Representative experience

    • 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

    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® 2023 in the field of Litigation—Securities; listed since 2017

    News Mentions

    • Law360

      Court cans Boston Beer Co. investor suit over hard seltzer

      The 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.

      Dec 6, 2022
    • Law360

      Boston Beer beats investor suit over hard seltzer sales forecasts

      The 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.

      Dec 6, 2022
    • 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 Co
      March 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

    Insights And Happenings

    • Alert

      Delaware Chancery Court broadens stockholder’s rights to inspect a corporation’s books and records

      Jan 15, 2020
    • Alert

      Justices clarify—and potentially expand—securities fraud liability for persons who participate in distributing false statements

      March 29, 2019

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