Paul F. Rugani

Securities Litigation, Investigations and Enforcement

Mr. Rugani focuses his practice on representing financial institutions, accounting firms, and public companies and their officers and directors in a variety of industries, including financial services, technology, manufacturing and entertainment.  He represents these clients in securities class actions, shareholder derivative lawsuits, commercial contractual disputes and other complex litigation matters at both the trial and appellate levels, including before the United States Supreme Court.  Mr. Rugani also has extensive experience advising companies, board committees and individuals in internal, government and regulatory investigations.

Mr. Rugani devotes a portion of his practice to providing pro bono services in civil rights and immigration cases.

Significant involvement in recent cases includes the following.

  • Representation of Barclays, Nomura, and Credit Suisse in state and federal litigations in connection with the banks' underwriting of residential mortgage-backed securities.
  • Representation of Barclays Capital in litigation over Archstone Holdings, Inc. After an expedited trial in the Southern District of New York, the court found for Barclays on all issues, allowing Barclays and BofA Merrill to dispose of several billion dollars in disputed assets.
  • Representation of two UBS entities in a Second Circuit appeal in which the court affirmed the dismissal of a shareholder class action seeking US$800 million in damages arising out of a merger break-up.
  • Representation of a former officer of Countrywide Financial Corporation in various state and federal securities lawsuits.
  • Representation of PricewaterhouseCoopers LLP in various securities lawsuits and regulatory investigations.
  • Representation of KPMG LLP in various securities and employment lawsuits pending in Washington state courts.
  • Representation of Microsoft Corporation in obtaining dismissal at the pleading stage of multiple consumer class actions related to Microsoft’s Windows Operating System downgrade policy.
  • Representation of a major international accounting firm in defense of a 10b-5 class action related to its audits of a Hong Kong company doing business through a subsidiary in China.
  • Representation of directors of Infospace, Inc., in derivative litigation.
  • Representation of Expedia, Inc., in connection with certain insurance recovery matters.

Mr. Rugani was recognized as a Super Lawyers Rising Star in Washington in 2012 and 2013 and as a Super Lawyers Rising Star in New York in 2014. He is one of the authors of the Orrick Guide to Securities Litigation, the most recent version of which was published in November 2012, and of the Bloomberg BNA Practice Portfolio "Federal Securities Law Liability of Underwriters, Accountants, and Attorneys."  Mr. Rugani also serves as an editor of the Orrick Financial Industry Week in Review and Orrick's Weekly Auditor Liability Bulletin.

Paul Rugani
Select Publications
Admitted In
  • New York
  • Washington
Court Admissions
United States District Court
  • Southern District of New York
  • Western District of Washington
United States Courts of Appeals
  • Second Circuit
  • Ninth Circuit

  • J.D., Order of the Coif, Eppa Hunton IV Memorial Book Award, University of Virginia School of Law, 2006
  • B.A., magna cum laude, English and History, Duke University, 2003
  • Hon. Cormac J. Carney, United States District Court for the Central District of California
  • Washington State Bar Association

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