Steven Paradise, Richards Kibbe & Orbe attorney photo

Steven R. Paradise

F:  917.344.8930

Overview

Steven Paradise is a nationally recognized litigator with more than 25 years of experience. He is an experienced “first-chair” trial lawyer who has successfully represented plaintiffs and defendants in trials in state and federal courts in New York and other jurisdictions.  Mr. Paradise specializes in commercial and securities litigation. Among other clients, he has represented hedge funds, Fortune 500 public companies, Big Four accounting firms, investment banks and other financial institutions. more +

A partner in RK&O's Litigation Group, Mr. Paradise focuses his practice on representing clients in a broad range of complex commercial and securities litigation, including issuers and accounting firms in accounting-related litigation and enforcement matters, as well as parties involved in Ponzi schemes and other financial frauds. He is equally adept at representing companies and individuals in investigations and enforcement proceedings by the SEC, FINRA and other law enforcement and regulatory agencies.

Prior to joining RK&O, Mr. Paradise was a partner at Vinson & Elkins where he served as co-chair of the securities litigation and enforcement group.

Experience

  • Obtained as lead trial lawyer for an Italian clothing manufacturer and its US affiliate a decision, following a trial before a Justice of the New York County Supreme Court’s Commercial Division, denying any liability of our client on plaintiff’s cause of action seeking damages of approximately $10 million based on our client’s alleged breach of contract.
  • Obtained as lead counsel on behalf of a hedge fund a unanimous jury verdict in New York Supreme Court’s Commercial Division in a $95 million lawsuit brought against the fund concerning termination of a former business associate and whether the associate had the right to receive any profits from their business venture.
  • Represented a broker-dealer and two of its officers in lawsuits commenced by the SEC, SIPC Trustee and private investors arising from the Madoff Ponzi scheme. Achieved favorable settlement of SEC action after obtaining dismissal of SEC’s original complaint and resolved Trustee’s claims after seven-year litigation.

Business & COMMERCIAL Disputes

  • Obtained as lead counsel dismissal with prejudice of $6.5 million claims for fraud and breach of fiduciary duty alleged by plaintiff against a company that acquired plaintiff’s former business from a third party, and successfully argued and obtained affirmance on appeal to the United States Circuit Court for the Second Circuit.
  • Represented as lead counsel a leading owner and operator of ATMs in a $100 million contractual dispute with a leading New York-based pharmacy that was resolved on favorable terms for the client.
  • Represented as lead counsel a private equity real estate firm in an action by a seller to terminate a $98 million contract for the acquisition of a portfolio of outlet shopping centers that was resolved on favorable terms for the client following expedited discovery and court-ordered mediation.
  • Represented as lead counsel a food flavorings company in a $25 million action against one of the world’s largest food companies and a former employee for misappropriation of trade secrets, Lanham Act violations, and related claims that were resolved through a negotiated settlement after extensive discovery and motion practice.
  • Defended as co-lead counsel one of the world’s largest mining companies in a $100+ million dispute in New York Supreme Court’s Commercial Division relating to a contractual indemnification provision in a merger agreement that was resolved on favorable terms for the client.

Securities Litigation & Enforcement

  • Ongoing representation of a defendant and two relief defendants in an SEC action and parallel criminal investigation and civil litigation arising from an indictment in the SDNY of Joseph Meli who allegedly engaged in a Ponzi scheme involving the resale of tickets for high profile entertainment events, including the Broadway show Hamilton.
  • Obtained motion to dismiss on behalf of an E&P company, and certain of its officers and directors, in a securities class action in New York federal court alleging violations of Sections 11, 12, and 15 of the Securities Act in connection with the client’s initial public offering.
  • Obtained as co-lead counsel dismissal of a federal securities fraud lawsuit against a Fortune 500 engineering and infrastructure company on appeal to the 5th Circuit from the lower court’s denial of the clients’ motion to dismiss, and also represented clients in a related SEC inquiry that was discontinued after 3-1/2 years with no recommendation of an enforcement action against the company or any of its management.
  • Obtained as co-lead counsel dismissal of a federal securities fraud lawsuit against a Fortune 500 engineering and infrastructure company alleging misrepresentations regarding accounting restatements and errors.
  • Obtained as co-lead counsel settlements on favorable terms of a federal securities fraud lawsuit and related derivative action against an E&P company, and members of its management and directors, that had taken a significant write down of its oil and gas reserves.

Accountant's Liability

  • Defended a national accounting firm against claims for breach of contract, fraud, negligence, and malpractice; plaintiffs sought a multimillion dollar recovery; matter was resolved after extensive deposition discovery, and motion practice and mediation. 
  • Represented a Big Four firm and a related entity as both parties and non-parties in connection with a series of lawsuits in which work the firms had performed prior to the clients’ 2005 bankruptcy was at issue; the action in which the firms were named as defendants was dismissed without any payment by the firms. 
  • Representation as lead counsel of a national accounting firm in an arbitration dispute with a former audit client seeking damages for professional malpractice and breach of contract; matter was resolved on favorable terms for the client. 

INVESTIGATIONS

  • Represented audit committee of a leading communications company in an internal investigation pursuant to Section 10A of the Securities Exchange Act of 1934.
  • Conducted an internal investigation on behalf of a Fortune 500 engineering and infrastructure company into whether an employee's alleged conduct exposed the Company to violations of the Securities Exchange Act of 1934.
  • Represented as lead counsel a financial services firm in an SEC investigation of a publicly traded company that supplied equipment to the client, including conducting an internal investigation into the client’s dealings with the vendor.

Honors & Awards

  • Legal 500 U.S., Securities: Shareholder Litigation, 2012−2015, 2017, 2018;
    M&A Litigation – Defense, 2014 and 2015
  • Benchmark Litigation, "National Litigation Star" for Securities and Commercial Litigation, 2017-2019
  • Benchmark Litigation, "Local Litigation Star" in New York, 2013−2015, 2017-2019
  • Benchmark Litigation, "Future Star" in New York, 2012
  • Selected to the New York Super Lawyers list, Super Lawyers (Thomson Reuters), 2007−2018

Professional & Community Affiliations

Member: The Association of the Bar of the City of New York, Securities Litigation Committee (2011-2016); Council on Judicial Administration (1998-2000)

Member: American Bar Association, Litigation Section; Co-Chair: Association Subcommittee on Broker-Dealer Litigation (2002-2008)

News

Presentations

Publications

Practice Areas
Education
  • Cornell Law School, J.D. cum laude, 1990
  • University of Michigan, Ross School of Business, B.B.A. with distinction, 1987
Bar & Court Admissions
  • New York
  • United States District Court for the Eastern District of New York
  • United States District Court for the Southern District of New York
  • United States Court of Appeals for the Second Circuit
  • United States Court of Appeals for the Fifth Circuit