Daniel S.
Sinnreich

A counsel in the Litigation Department, Dan Sinnreich specializes in securities litigation and enforcement matters. He represents corporate and individual clients in a wide range of securities class actions and shareholder derivative lawsuits, as well as civil and criminal investigations by the Securities and Exchange Commission, the United States Attorney’s Office, and other federal and state agencies.

Dan has represented high-profile clients in finance, banking, information technology and consumer goods, among other industries, in both federal and state trial and appellate courts. Dan’s experience includes:

• Amazon.com, Inc. in the dismissal, with prejudice, of a securities class action regarding its alleged improper use of third-party sellers’ data.
• AR Global Investments, LLC, and current and former top executives, in the dismissal of shareholder lawsuits, affirmed on appeal, in New York state and federal courts challenging statements in the proxy issued in the 2017 merger of two AR Global-sponsored REITs, American Finance Trust (AFIN) and Retail Centers of America.
• Bank of New York Mellon in the dismissal of a high-stakes investor class action filed in the wake of a pyramid scheme involving purported cryptocurrency OneCoin.
• Biogen Inc., and certain current and former executives, in a class action alleging that Biogen made false and misleading statements about its Alzheimer’s drug aducanumab during the FDA approval process.
• Carnival Corp., the world’s largest cruise operator, and Carnival’s CEO, in obtaining the dismissal of a securities fraud class action in Florida federal court alleging that defendants made material misstatements and omissions concerning the risks posed to Carnival by COVID-19, and about the company’s commitments to regulatory compliance and health and safety.
• Coupang, Inc., an e-commerce firm known as “Korea’s Amazon,” and certain directors and officers in defense of a securities class action alleging material misrepresentations and omissions in the registration statement issued in connection with Coupang’s 2021 IPO.
• The eight underwriters in the dismissals of actions brought in New York State Supreme Court and New York federal court under the Securities Act of 1933 in connection with the IPO of Chinese social audio platform Lizhi, Inc.
• Lloyd Blankfein, former CEO of Goldman Sachs, in a putative securities class action in the Southern District of New York. The plaintiffs allege that the defendants made certain misleading statements and omissions over a four year period after Goldman Sachs underwrote $6.5 billion of 1Malaysia Development Berhad (1MDB) debt in connection with three bond offerings.
• Marathon Digital Holdings, Inc., a digital assets and bitcoin mining operator, in a federal securities class action and derivative action in the District of Nevada alleging that the certain current and former directors and officers made false and misleading statements and failed to maintain effective internal controls related to the company’s valuation process for bitcoin holdings.
• Novo Nordisk and certain executives in a federal securities class action in the District of New Jersey alleging that the company and its executives misled investors about a clinical trial for CagriSema, a novel combination therapy for obesity.
• Oak Street Health and senior executives in a federal securities class action in the Northern District of Illinois alleging that Oak Street Health, an operator of primary care centers, was engaged in aggressive patient acquisition and recruitment strategies that placed the company at heighted risk of government scrutiny.
• PayPal Holdings Inc., in the dismissal of a securities class action regarding the company’s regulatory compliance.
• Riskified, Ltd., and its officers and directors in the dismissal, with prejudice, of a securities class action in New York federal court based on purported omissions and misleading statements issued in connection with Riskified’s July 2021 IPO.
• Regeneron Pharmaceuticals and certain of its executives in a securities fraud class action in the Southern District of New York alleging that the defendants made false and misleading statements and failed to disclose material facts relating to its eye disease drug EYLEA®.
• Snap, Inc. and several of its directors and executives in a securities class action and related shareholder derivative actions brought in the Central District of California concerning Snap’s preparation for Apple’s rollout of new privacy changes.
  
• Steven A. Cohen and SAC Capital (now Point72 Asset Management), in civil and regulatory matters alleging insider trading, including class action litigation filed by a class of contemporaneous traders alleging insider trading in the securities of Elan and Wyeth.
• Teladoc Health, Inc. and a number of its current and former executives and directors in a securities fraud class action and related shareholder derivative litigation alleging that the defendants made false and misleading statements concerning advertising spend and membership metrics for BetterHelp.
• The underwriters, led by Citigroup, in the dismissal of a putative class action in the Southern District of New York arising out of the initial public offering of RLX Technology, Inc., a Chinese e-cigarette company.
• The independent trustees of Vanguard Group in a class action in Pennsylvania state court challenging the company’s calculation of its funds’ net asset value.
• Virtu Financial, Inc. in a securities fraud lawsuit alleging that Virtu and other broker-dealers engaged in market manipulation by spoofing shares of a pharmaceutical company whose shares trade on over-the-counter markets.
• XPO Logistics, Inc. in securing the dismissal, with prejudice, affirmed on appeal to the Second Circuit, of a securities class action alleging that XPO had misled investors by concealing the importance of its largest customer, Amazon, in driving the company’s growth, and concealing the fact that Amazon had begun cutting ties with XPO.

Dan plays a significant role in managing the firm’s securities litigation practice by speaking in podcasts and writing extensively about the securities laws, including for publications such as Law360. He also maintains an active pro bono practice where he has litigated high profile public impact cases before the United States Supreme Court and several federal and state courts of appeals, and conducted numerous evidentiary hearings and oral arguments on behalf of indigent clients in New York State Court and before administrative law judges.