Richard A. Levan / Partner
Practice Areas: SEC Enforcement, White Collar Defense & Investigations, Business Litigation
The successful defense of a government enforcement action requires deep experience and impeccable judgment. We offer both.
Richard has over forty years of experience defending civil and criminal cases initiated by the U.S. Department of Justice, the U.S. Securities and Exchange Commission, the PCAOB, state securities and insurance agencies and self-regulatory organizations such as FINRA. A seasoned trial attorney, Richard has tried over 60 cases to verdict. His extensive experience, judgment and tenacity make him a formidable advocate.
Richard writes frequently on matters affecting the securities industry and has been quoted in many publications, including The Wall Street Journal, The American Banker, Business Week, Bloomberg News, Smart Money, IA Week, The National Law Journal and Dow Jones News Service. He has also appeared on CNN and NBC Nightly News.
Richard has served as a featured speaker at national compliance and regulatory conferences sponsored by such organizations as the National Society of Compliance Professionals, National Regulatory Services, American Bar Association, Society of Financial Service Professionals, NASD/Wharton Institute, Pennsylvania Bar Institute and Investment Adviser Week. Richard has been listed in Pennsylvania Super Lawyers in the field of securities litigation since 2010. Richard also holds an AV rating, the highest rating awarded by Martindale-Hubbell.
Beyond Dailey
Richard is an avid fly fisherman, opera lover and hiker. When not out on a trail with his devoted dog, he is reading or listening to one of the many operas in his extensive vinyl collection. Richard is a former trustee of the Pound Ridge Library.
Representative Matters
- Represented CEO of NYSE-listed company in twin DOJ and SEC investigations into insider trading scheme; no charges brought
- Represented CEO of NYSE-listed company in SEC investigation into accounting and reporting matters involving revenue recognition and reserves; no charges brought
- Represented former CFO of Fortune 500 company in four-year SEC investigation into earnings management and revenue recognition practices; no charges brought
- Represented blockchain company and chief executive in SEC investigation of unregistered securities sales and touting of digital assets; no charges brought
- Represented former high-level employee in SEC investigation involving insider trading of company’s stock; no charges brought
- Represented former State Treasurer in connection with SEC municipal bond investigation involving yield-burning; no charges brought
Recognition
- Super Lawyers of Pennsylvania 2010-2023
- AV Martindale-Hubbell Rating
- Boutique Securities Litigation and Regulation Law Firm of the Year (PA), Corporate INTL Global Award 2017-2023
- Former Chair, American Bar Association’s Financial Services Integration Committee
- Co-Chair, Philadelphia Bar Association’s Securities Regulation Committee
- Former Member, Attorney Advisory Board, Pennsylvania Securities Commission
- Former Member, Securities Law360 Editorial Advisory Board (Securities)
Bar Admissions
- New York
- Pennsylvania
Federal Court Admissions
- U.S. Supreme Court
- U.S. Court of Appeal for the Second Circuit
- U.S. Court of Appeal for the Third Circuit
- U.S. Court of Appeal for the District of Columbia Circuit
- U.S. District Court for the Eastern District of Pennsylvania
- U.S. District Court for the Western District of Pennsylvania
- U.S. District Court for the Southern District of New York
- U.S. District Court for the Eastern District of New York
- U.S. District Court for the District of Maryland
- U.S. District Court for the District of Columbia
Education
- University of Pennsylvania, B.A.
- George Washington University, J.D.
Clerkship
- The Honorable John A. Terry, Associate Judge, District of Columbia Court of Appeals
Committee Affiliations
- ABA Federal Regulation of Securities Committee, former Chair
- Philadelphia Bar Association Securities Regulation Committee, Co-Chair
- National Society of Compliance Professionals
Prior Affiliations
- Assistant U.S. Attorney, U.S. Department of Justice, Washington, DC
- Chief Litigation Counsel, Securities and Exchange Commission, Philadelphia
- Partner, Drinker, Biddle & Reath LLP, Philadelphia (now Faegre Drinker LLP)
- Partner, Wiggin and Dana LLP, Philadelphia and Stamford