Cole is an associate in the securities litigation group of Ropes & Gray. Cole’s practice focuses primarily on representing asset management clients across a broad range of practice areas including complex civil litigation, government enforcement actions, regulatory inquiries such as SEC and FINRA examinations, and internal investigations. Cole’s clients have included mutual fund advisers, hedge funds, private equity funds, venture capital funds, publicly-traded companies, and multinational banks. Through his regular representation of asset management clients Cole has developed significant exposure to, and a practical understanding of, legal issues associated with fees, portfolio management, risk management, regulatory filings, and disclosures. Cole collaborates regularly with colleagues in the firm’s corporate practice groups, including asset management, as a member of cross-practice teams focused on providing comprehensive solutions to clients. Cole maintains an active pro bono practice highlighted by his being a member of a Ropes & Gray team that obtained an exoneration for an individual wrongfully imprisoned for 35 years.
Experience
- Counsel to global asset manager in connection with several dozen lawsuits brought by institutional investors seeking billions of dollars in recoveries and major SEC enforcement action related to the underperformance, and eventual liquidation of, several large hedge funds that pursued an options-based alpha strategy that underperformed significantly during the COVID-19 market downturn.
- Represents U.S.-based broker dealer of large Latin American investment bank in connection with ongoing FINRA enforcement action related to supervisory requirements and AML policies and procedures.
- Represents in-house investment adviser to large institution in connection with ongoing SEC enforcement matter related to Section 13(f) of the Exchange Act.
- Represents several mutual funds in an ongoing SEC enforcement action related to Rule 18f-3 under the Investment Company Act of 1940, which guards against improper cross-subsidies between share classes.
- Represented multiple mutual fund advisers against claims of excessive fees under the Investment Company Act of 1940 (PIMCO, Metropolitan West Asset Management, T. Rowe Price, and State Farm), including successfully serving as counsel to Metropolitan West Asset Management in 2018 bench trial.
- Advised several large venture capital funds and hedge funds in connection with comprehensive SEC exams focused on issues under the Investment Advisers Act of 1940.
- Served as counsel to special committee of publicly-traded oil and gas company for an investigation into potential self-dealing transactions that preceded company’s filing for bankruptcy.