Late last month, the SEC announced the departure of Matthew C. Solomon, the Chief Litigation Counsel for the agency's Enforcement Division. Since September 2013, Solomon had led the Enforcement Division’s litigation program, which includes 48 attorneys in Washington, D.C. and more than 100 additional litigators throughout the SEC's regional offices. This week, law firm Cleary Gottlieb announced that Solomon will join the firm's Washington, D.C., office as a partner in January 2017.
Under Solomon's leadership, the SEC secured favorable verdicts in 22 federal trials, and did not lose a federal trial in the last two and a half years. Among other cases, Solomon led the SEC’s litigation against hedge fund manager Steven A. Cohen, which resulted in a two-year supervisory bar. He also led the SEC's successful trials against defendants including a doctor at InterMune Inc., who allegedly tipped his friend with confidential, market-moving details that he learned while working on his company's application to market a particular pharmaceutical; and the City of Miami, in the SEC's first federal jury trial against a municipality or one of its officers for violations of the federal securities laws.
Mr. Solomon joined the SEC in 2012 as Deputy Chief Litigation Counsel. Previously, Solomon served as an AUSA in the U.S. Attorney’s Office for the District of Columbia, where he was Chief of the Fraud Unit. The SEC's David Gottesman, who previously served as Deputy Chief Litigation Counsel, and Bridget Fitzpatrick are now serving as acting Co-Chief Litigation Counsels.