Benjamin N. Cardozo School of Law, J.D., 1983
Boston University, B.A., 1970
U.S. District Court, E.D. New York
U.S. District Court, S.D. New York
What’s at Stake for Insider Trading Prosecutions after U.S. v. Newman
March 19, 2015 -- Westlaw Journals Securities Litigation & Regulation newsletter
Arthur Jakoby was quoted in Westlaw Journal's Securities Litigation & Regulation newsletter about the effect of the U.S. v. Newman federal appeals court ruling on insider trading and how it may raise the standard required for prosecution. ”Over many years, prosecutors have forced numerous guilty pleas from defendants unwilling — and often unable to afford — to challenge the federal government’s skewed position that the mere existence of a loosely defined ‘friendship’ between tipper and tippee is sufficient under the U.S. Supreme Court in Dirks to support insider trading liability,” Arthur said. "A trader should not have to worry that entering into an innocent transaction that is free from the taint of a quid pro quo exchange could nevertheless subject him to her to prosecution."
Q&A with Herrick, Feinstein’s Arthur Jakoby
May 30, 2013 -- Law360
Herrick, Feinstein Partner Arthur G. Jakoby, who co-chairs the firm's securities and commodities litigation and regulatory group, is featured in a Q&A on his practice.
Lawyer: Madoff May Be One of My Clients' Better Investments
December 18, 2012 -- Bloomberg Law Video “Rainmakers”
Arthur Jakoby was featured on Bloomberg Law's Rainmakers series with Spencer Mazyck. Mr. Jakoby discussed his representation of Beacon Associates LLC and Andover Associates LLP in the recently announced, unprecedented settlement of various litigations arising out of the collapse of Bernard L. Madoff Investment Securities LLC.
Madoff Settlement Could Net Hefty Profit for Hedge Funds and Investors
December 17, 2012 -- Hedge Funds Review
Arthur Jakoby, Herrick, Feinstein Partner and co-Chair of the firm’s Securities and Commodities Litigation and Regulatory Practice Group, is quoted in an article describing the unprecedented global settlement on behalf of Beacon Associates LLC and Andover Associates LLP, feeder funds which were defrauded by Bernard L. Madoff Investment Securities LLC. "We expect our clients to recover significantly more than their losses," said Mr. Jakoby. "If you look at what has happened with other Madoff investors, no one has made a profit on their Madoff investments."
Madoff Victims Get an Xmas Gift Card
December 13, 2012 -- Institutional Investor
In an article detailing the unprecedented recent global settlement on behalf of Beacon Associates LLC and Andover Associates LLP, feeder funds which were defrauded by Bernard L. Madoff Investment Securities LLC, Arthur Jakoby says, “With all of the settle amount combined, the investors are likely to recover more than 100 percent of their principal investment and make a profit on their Madoff investment."
Judge Approves Settlement with Madoff Feeder Funds
December 5, 2012 -- DowJones Daily Bankruptcy Review and Wall Street Journal Bankruptcy Beat Blog
Dow Jones reported on Judge Burton R. Lifland’s approval of a settlement that, in connection with a separate pending settlement, will likely result in the complete recovery of investments for Beacon Associates LLC and Andover Associates LLP, feeder funds which were defrauded by Bernard L. Madoff Investment Securities LLC. In the article Arthur Jakoby, Herrick, Feinstein Partner and co-Chair of the firm’s Securities and Commodities Litigation and Regulatory Practice Group, who is counsel for the Beacon/Andover Funds, said that the settlement” virtually guarantees” that Beacon and Andover are “going to make a profit from Madoff."
NY: $210M from Mellon co. to end Madoff lawsuits
November 13, 2012 -- Associated Press
In an article about a settlement reached with Ivy Asset Management, which advised clients to invest with Bernard Madoff, Herrick's Arthur Jakoby, is quoted describing what the settlement means for the investors in the Beacon and Andover Funds, which include union pension plans. The Associated Press report appeared in outlets including The Washington Post, ABC News, NBC News, Fox News, Bloomberg BusinessWeek and the Wall Street Journal online.
Ivy Asset Mgmt settles with NY for $210 million over Madoff
Novemer 13, 2012 -- Reuters
Herrick Partner Arthur Jakoby was quoted in an article about a settlement reached with Ivy Asset Management which advised clients to invest with Bernard Madoff. Arthur notes that, “investors in Beacon and Andover funds, which were feeder funds for Madoff, will receive about $99 million from the settlement.” The article further describes a second settlement Arthur negotiated with the Madoff Trustee on behalf of the Beacon and Andover Funds which will recover approximately $100 million more for investors.
BNY Mellon Unit To Pay $210M To End Madoff Investor Suits
November 13, 2012 -- Law360
Law360 reported on the settlement reached with Ivy Asset Management which advised clients to invest with Bernard Madoff. The article quotes Herrick's Arthur Jakoby, who represented the Beacon and Andover Funds, about what the outcome means for the investors in the Beacon and Andover funds. "The crimes perpetrated by Bernard Madoff against the Beacon/Andover Funds were financially devastating to our investors, but this settlement provides our investors with justice and will restore to our investors their hard earned monies," Jakoby said.
Area union pensions gain in Madoff deal
November 13, 2012 -- Albany Times Union
In a story about how the settlement agreement reached with Ivy Asset Management will impact New York State pension plans, the Albany Times Union quotes Arthur Jakoby who stated that the settlement, “provides our investors with justice and will restore to our investors their hard earned monies."
Labor Department settles with Ivy, 3 other firms over Madoff losses
November 13, 2012 -- Pensions & Investments
Arthur Jakoby is quoted in a report about the settlement with Ivy Asset Management which resolves litigation filed by both the Department of Labor and the New York Attorney General's office as well as private and class-action lawsuits brought by individuals and pension plans. On behalf of Beacon Associates and Andover Associates, Arthur states, “This settlement probably is the most favorable outcome for any investor who invested with Madoff through an investment feeder fund … this settlement provides our investors with justice and will restore … their hard-earned monies.”
Stock scam ensnares attorneys
August 29, 2011 -- The National Law Journal
Arthur Jakoby's representation of a former attorney who pleaded guilty to a charge of obstruction of justice, in a larger securities case in that involved manipulation of stock prices, is noted here. The article also notes that Arthur is co-chair of the firm's securities and commodities litigation and regulatory practice group.
Underwriter Says Title Insurer Swiped Millions
June 3, 2011 -- Courthouse News Service
Our representation of WFG National Title Insurance Co. is noted in this story, which mentions that Arthur Jakoby is counsel to WFG in its action against TitleServ, one of the largest title agencies in the country. WFG alleges that TitleServ allegedly stole $7.9 million from customers' escrow funds.
Gerova Financial Unit’s Assets Were Questioned in SEC Wells Notice
January 25, 2011 -- Forbes.com
Arthur Jakoby is quoted, and our representation of Stillwater Capital Partners is noted, in the blog entry “Gerova Financial Unit’s Assets Were Questioned in SEC Wells Notice,” which discusses the Wells Notice that Stillwater received in June 2010.
NY Investment Exec Charged in $370M Ponzi Scheme
January 28, 2009 -- Securities Law 360
This story is about the arrest of Nicholas Cosmo for allegedly running a Ponzi scheme on Long Island notes that Arthur Jakoby represents Cosmo and arranged for his voluntary surrender to authorities.
Cosmo Surrenders, Faces Mail-Fraud Charge in Alleged Scheme
January 27, 2009 -- Bloomberg News
This wire story, which was picked up in numerous publications nationally, notes that Arthur Jakoby represents Nicholas Cosmo, who was charged with running a Ponzi scheme on Long Island. The Herrick attorney arranged for Cosmo's voluntary surrender to authorities.
Market's ripe for flimflams, broker scams
December 28, 2008 -- The Star-Ledger
Arthur Jakoby discusses how rogue securities brokers who repeatedly thwart regulators' attempts to reign them in pose a danger to legitimate investors. He notes this phenomenon in an article about a longtime New Jersey swindler and how difficult economic times breed financial misdeeds.
KPMG Charges May Be Dismissed
June 28, 2007 -- The Journal News
Arthur Jakoby is quoted regarding the possibility that former KPMG executives will have their federal tax-related charges dismissed.
Realty Law Digest
June 20, 2007 -- New York Law Journal
Arthur Jakoby is quoted on the importance of title-related litigation, emphasizing that title companies are entitled to prompt notice of claims and that purchases are obligated to conduct due diligence prior to a transaction.