Alex is an experienced litigator who represents financial institutions, broker-dealers, fintech companies, insurers and corporate executives in high-stakes litigation, arbitration, regulatory proceedings and appeals. While his practice spans a broad range of complex business disputes, he has substantial experience representing regulated entities and professionals — including registered representatives, lawyers, accountants, insurance professionals and corporate fiduciaries — in matters involving alleged securities fraud, sales practice misconduct, professional liability, corporate governance disputes and related enforcement exposure. He regularly advises clients in connection with investigations and enforcement matters involving the SEC, DOJ, FINRA state attorneys general, and other regulatory and licensing authorities. Alex has significant experience navigating parallel civil, regulatory and enforcement proceedings involving overlapping litigation, arbitration and government investigations. He also serves as a FINRA Dispute Resolution public arbitrator.
Securities and Financial Services Litigation
- Dismissal of all claims against a securities broker-dealer in a $1.6 billion putative securities fraud class action arising from an alleged Ponzi scheme
- Dismissal of all claims arising from a $25 million investment in the sponsor of a special purpose acquisition company (SPAC)
- Dismissal of a $7 million claim arising from an alleged ultra vires issuance of a SPAC’s Class A shares
- Quashed an arbitration arising from a purported $12 million private equity investment
- Dismissal of all claims against a transfer agent arising from a corporate governance dispute concerning ownership of stock held in the transfer agent’s custody
- Dismissal of a petition seeking pre-action discovery concerning a trading platform and clearing firm’s internal compliance and risk decisions relating to low-priced securities
- Representation of a financial services holding company in connection with an approximately $100 million successor liability claim arising from the acquisition of a broker-dealer named in a securities class action
- Representation of a broker-dealer in parallel state securities regulatory proceedings and coordinated FINRA customer arbitrations involving “selling away” claims arising from an alleged Ponzi scheme
- Representation of a financial institution in federal litigation arising from an alleged EB-5 affinity fraud scheme, culminating in the voluntary dismissal of all claims against the client following dispositive motion practice
Government Investigations
- Representation of a broker-dealer and its Chief Compliance Officer in connection with a joint SEC and DOJ investigation arising from an alleged Ponzi scheme that concluded with no government action
- Representation of a broker-dealer in a FINRA enforcement investigation involving alleged due diligence failures relating to a private placement offering
- Representation of a broker-dealer and registered representatives in a FINRA enforcement investigation involving alleged micro-cap fraud
- Representation of a registered representative in connection with an investigation into alleged commission sharing with an unlicensed international business finder
- Responded to a New York State Attorney General grand jury subpoena arising from a catastrophic mass casualty event, resulting in a favorable resolution on behalf of an insurance company
Commercial Litigation
- Summary judgment dismissing a $4.5 million Civil RICO claim arising from a failed real estate venture
- Dismissal of allegations of gross mismanagement asserted against the former executive director of a nonprofit corporation
- Summary judgment on all claims arising from the sale of several franchises
- Reversal on appeal of a trial court order denying dismissal of a $3.4 million legal malpractice claim
- Dismissal, at the pleading stage, of legal malpractice claims based on statute of limitations and tolling issues, affirmed on appeal
- Representation of individuals accused of misappropriating trade secrets and raiding their former employer
Financial Products and Insurance Litigation
- First-chaired FINRA arbitration hearings arising from alleged sales practice misconduct involving private placements, REITs, business development companies (BDCs), structured products, and high-risk trading strategies, including prehearing dismissals under FINRA Rules 12206 and 12504
- Reversal on appeal of the denial of a motion to dismiss in a $10 million life insurance dispute
- Dismissal of claims asserted by a putative class of judgment debtors seeking indemnification for a $5.2 million judgment against a bankrupt insured that was affirmed on appeal by the Second Circuit Court of Appeals
- Summary judgment dismissing all claims against a financial advisor in a beneficiary change dispute involving an elderly investor
- Representation of broker-dealers in a $1.25 million claim alleging suitability and sales practice misconduct relating to the sale of fixed income products
- Representation of insurance brokerages in multi-million-dollar claims arising from the sale of life insurance and the use of premium financing
- Representation of insurance agencies and third-party administrators in disputes arising from the alleged mishandling of claims purportedly resulting in excess and/or uncovered liability
- FINRA Dispute Resolution, Public Arbitrator
- New York City Bar Association
- Securities Litigation Committee
- Recognized as a “Rising Star” in Super Lawyers, New York, New York, Business Litigation, 2021-2025
Education
- New York Law School, J.D., cum laude
- Ithaca College, B.A.
Bar Admissions
- New York
Court Admissions
- U.S. Court of Appeals for the Second Circuit
- U.S. District Court for the Eastern District of New York
- U.S. District Court for the Southern District of New York
- U.S. District Court for the Western District of New York
Powerful partnerships. Standout solutions.
Alexander A. Truitt
Counsel
alexander.truitt@stevenslee.com
- New York
- Phone: 212.537.0422
- Fax: 610.988.7202
Areas of Focus
Practice
- Litigation
Alex is an experienced litigator who represents financial institutions, broker-dealers, fintech companies, insurers and corporate executives in high-stakes litigation, arbitration, regulatory proceedings and appeals. While his practice spans a broad range of complex business disputes, he has substantial experience representing regulated entities and professionals — including registered representatives, lawyers, accountants, insurance professionals and corporate fiduciaries — in matters involving alleged securities fraud, sales practice misconduct, professional liability, corporate governance disputes and related enforcement exposure. He regularly advises clients in connection with investigations and enforcement matters involving the SEC, DOJ, FINRA state attorneys general, and other regulatory and licensing authorities. Alex has significant experience navigating parallel civil, regulatory and enforcement proceedings involving overlapping litigation, arbitration and government investigations. He also serves as a FINRA Dispute Resolution public arbitrator.
Securities and Financial Services Litigation
- Dismissal of all claims against a securities broker-dealer in a $1.6 billion putative securities fraud class action arising from an alleged Ponzi scheme
- Dismissal of all claims arising from a $25 million investment in the sponsor of a special purpose acquisition company (SPAC)
- Dismissal of a $7 million claim arising from an alleged ultra vires issuance of a SPAC’s Class A shares
- Quashed an arbitration arising from a purported $12 million private equity investment
- Dismissal of all claims against a transfer agent arising from a corporate governance dispute concerning ownership of stock held in the transfer agent’s custody
- Dismissal of a petition seeking pre-action discovery concerning a trading platform and clearing firm’s internal compliance and risk decisions relating to low-priced securities
- Representation of a financial services holding company in connection with an approximately $100 million successor liability claim arising from the acquisition of a broker-dealer named in a securities class action
- Representation of a broker-dealer in parallel state securities regulatory proceedings and coordinated FINRA customer arbitrations involving “selling away” claims arising from an alleged Ponzi scheme
- Representation of a financial institution in federal litigation arising from an alleged EB-5 affinity fraud scheme, culminating in the voluntary dismissal of all claims against the client following dispositive motion practice
Government Investigations
- Representation of a broker-dealer and its Chief Compliance Officer in connection with a joint SEC and DOJ investigation arising from an alleged Ponzi scheme that concluded with no government action
- Representation of a broker-dealer in a FINRA enforcement investigation involving alleged due diligence failures relating to a private placement offering
- Representation of a broker-dealer and registered representatives in a FINRA enforcement investigation involving alleged micro-cap fraud
- Representation of a registered representative in connection with an investigation into alleged commission sharing with an unlicensed international business finder
- Responded to a New York State Attorney General grand jury subpoena arising from a catastrophic mass casualty event, resulting in a favorable resolution on behalf of an insurance company
Commercial Litigation
- Summary judgment dismissing a $4.5 million Civil RICO claim arising from a failed real estate venture
- Dismissal of allegations of gross mismanagement asserted against the former executive director of a nonprofit corporation
- Summary judgment on all claims arising from the sale of several franchises
- Reversal on appeal of a trial court order denying dismissal of a $3.4 million legal malpractice claim
- Dismissal, at the pleading stage, of legal malpractice claims based on statute of limitations and tolling issues, affirmed on appeal
- Representation of individuals accused of misappropriating trade secrets and raiding their former employer
Financial Products and Insurance Litigation
- First-chaired FINRA arbitration hearings arising from alleged sales practice misconduct involving private placements, REITs, business development companies (BDCs), structured products, and high-risk trading strategies, including prehearing dismissals under FINRA Rules 12206 and 12504
- Reversal on appeal of the denial of a motion to dismiss in a $10 million life insurance dispute
- Dismissal of claims asserted by a putative class of judgment debtors seeking indemnification for a $5.2 million judgment against a bankrupt insured that was affirmed on appeal by the Second Circuit Court of Appeals
- Summary judgment dismissing all claims against a financial advisor in a beneficiary change dispute involving an elderly investor
- Representation of broker-dealers in a $1.25 million claim alleging suitability and sales practice misconduct relating to the sale of fixed income products
- Representation of insurance brokerages in multi-million-dollar claims arising from the sale of life insurance and the use of premium financing
- Representation of insurance agencies and third-party administrators in disputes arising from the alleged mishandling of claims purportedly resulting in excess and/or uncovered liability
Affiliations
- FINRA Dispute Resolution, Public Arbitrator
- New York City Bar Association
- Securities Litigation Committee
Recognition
- Recognized as a “Rising Star” in Super Lawyers, New York, New York, Business Litigation, 2021-2025
Education
- New York Law School, J.D., cum laude
- Ithaca College, B.A.
Bar Admissions
- New York
Court Admissions
- U.S. Court of Appeals for the Second Circuit
- U.S. District Court for the Eastern District of New York
- U.S. District Court for the Southern District of New York
- U.S. District Court for the Western District of New York