Patrick L. Rocco is a partner in the firm with a nationwide complex litigation practice. He is a trial lawyer and former federal prosecutor, who has represented fortune 500 companies, pension funds, hedge funds, private equity firms, entrepreneurs and high-net-worth individuals in state and federal courts and before arbitral bodies in cases involving securities fraud, mergers and acquisitions, commercial contract disputes, federal anti-terrorism statutes and a wide variety of business torts against some of the world’s largest and most sophisticated law firms. In recognition of his professional achievements among his peers, Pat has consistently been named to the New York Super Lawyers list.
After his clerkship with the Hon. Dickinson R. Debevoise, Pat was an associate with the New York City law firm of Cahill Gordon & Reindel for five years, where his practice focused primarily upon federal securities law and complex commercial litigation. From 1995 to 2001, Pat served as an Assistant U.S. Attorney in the District of New Jersey, prosecuting and/or trying numerous cases, including securities fraud, bank fraud, mail fraud, insurance fraud and tax fraud cases. Pat’s outstanding achievements at the U.S. Attorney’s office resulted in several awards and honors, including the U.S. Attorney’s Special Achievement Award following the successful trial and conviction of six defendants in a cocaine, firearms and kidnapping conspiracy, and in which two of the defendants were sentenced to life without parole. That case also culminated in a published opinion by the U.S. Supreme Court in United States v. Jacinto Rodriguez-Moreno, 526 U.S. 275 (1999), wherein the Supreme Court reversed the Court of Appeals and reinstated the only conviction to have been previously reversed in the case. In 1996, Pat received a Letter of Commendation from the Director of the FBI for the successful trial and fraud conviction of a high-ranking official of the company that ran the New York and New Jersey state lotteries, resulting in a substantial prison term. In September 1998, Pat was nominated by the U.S. Attorney for the District of New Jersey to be an instructor at the U.S. Department of Justice’s Trial Advocacy Institute. In January 2001, Pat received the U.S. Inspector General’s Integrity Award for his outstanding achievements in the successful prosecution of healthcare fraud.
In 2001 and 2002, Pat was associated with the law firm of Milberg Weiss, where he played a leading role in prosecuting various securities class action lawsuits, including In re Lucent Technologies Securities Litigation, which culminated in a settlement of more than $600 million. Pat has led litigation that recovered $85 million on behalf of New Jersey public pension funds who opted out of class action litigation to pursue their own private suit for civil RICO and securities fraud violations against Tyco International Ltd. and its former officers and auditors. Those settlements were the result of several years of hard fought litigation and reflect a recovery of more than 50 times what the firm’s pension fund clients would have received had they chose to participate in the related class action settlement. Serving as co-lead counsel in Lernout & Hauspie Securities Litigation, Pat helped recover $180 million for investors. The settlements in that case included a $115 million recovery from KPMG, which at the time was the third-largest settlement with an accounting and auditing firm in a U.S. securities fraud action. Pat regularly counsels and represents prominent bond/private equity funds, institutional investors and corporate clients in federal and state courts. He is special counsel to some of the country’s largest state pension funds, and he has been heavily involved in the litigation of some of the largest securities fraud actions ever brought in this country.
Pat has acted as counsel for the United States Marines killed and injured in the 1983 bombing of the Marine barracks in Beirut, Lebanon, and the family members of those Marines. Pat has lead the effort to successfully obtain an order from the United States District Court for the Southern District of New York that required Iran’s central bank and its outside bankers to surrender over $1.75 billion in assets primarily to those victims of terrorism. Pat was also an integral part of the team that successfully briefed and argued the Bank Markazi matter before the Court of Appeals for the Second Circuit and assisted in protecting the Firm’s victory in the U.S. Supreme Court, which affirmed the District Court’s order in 2016. The plaintiffs in the Bank Markazi matter are the first victims of terrorist attacks who have succeeded in recovering assets held in the name of the central bank of a state sponsor of terrorism.
Recent commercial litigation and arbitration matters in which Pat has served as primary counsel include:
- $3.25 million verdict for Claimant after 2-week trial in FINRA in Miami, FL;
- Obtaining a $20 million arbitration award on behalf of a government contractor for the breach of an earnout provision of a stock purchase agreement involving the sale of the company;
- Obtaining a $21 million verdict on behalf of a private equity fund client in a AAA arbitration trial in San Francisco, CA involving claims of theft of services and unfair competition;
- Representing the former shareholders of a start-up medical device company in an arbitration involving claims that a large, public company failed to fulfill its contractual obligation to develop the plaintiffs’ innovative product for use in connection with stenting procedures, resulting in a favorable settlement;
- Pursuing claims on behalf of investors that invested in auction rate securities that failed at auction, leaving investors holding illiquid securities with minimal value, resulting in a favorable settlement;
- Successfully defending a technology company from alleged anti-trust violations involving efforts to monopolize the market for the installation of telecommunications equipment and wiring in New York City;
- Representing a company that sold a promising product to a large, public corporation that allegedly failed to fulfill post-sale obligations to develop the sellers’ product for commercial purposes, resulting in a favorable settlement.
Pat frequently lectures on securities fraud litigation and federal discovery practices, including as a guest lecturer at Fordham Law School on deposition techniques, as a panelist on recent developments in securities fraud litigation at an ABA CLE conference at Seton Hall Law School and on the whistleblower provisions of the Dodd-Frank legislation at a New York City CLE advanced forum of the American Conference Institute.
J.D., Rutgers University, 1988
- cum laude
- Rutgers Law Review, Associate Articles Editor
B.A., Rutgers University, 1985
- cum laude
United States District Court:
District of New Jersey
Southern District of New York
Northern District of New York
United States Court of Appeals:
United States Supreme Court
HONORS / AWARDS
U.S. Attorney's Special Achievement Award
U.S. Inspector General's Integrity Award
Hon. Dickinson R. Debevoise
United States District Court
District of New Jersey