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Securities Investor Protection Corp. v. Vigman
United States District Court for the Central District of California
587 F.Supp. 1358 (1984)
In 1973, two attorneys employed by the Securities and Exchange Commission (SEC), Gerald Boltz and Charles Hartman, filed two related suits against multiple defendants including DCS Financial Corporation (DCS) and several individuals alleging fraudulent manipulation of the company’s stock. DCS later merged with Bunnington Corporation. Boltz and Hartman left the SEC to work for the law firm of Rogers & Wells. In 1983, Rogers & Wells represented the Securities Investor Protection Corporation (SIPC) (plaintiff) in filing an action against Seymour Vigman and 74 other individuals and entities, including Bunnington Corporation (defendants), alleging stock manipulation and multiple violations of § 10(b) of the Securities and Exchange Act of 1934 (the Act) and the Racketeer Influenced and Corrupt Organizations Act (RICO). Boltz and Hartman were the lead attorneys for Rogers & Wells in the suit. Two defendants filed a motion to disqualify Boltz and Hartman from further representing the SIPC on the ground that the former government employees are ethically barred pursuant to Rule 1.11(a) of the Model Rules of Professional Conduct from representing a private litigant in a matter connected to their previous government work.
Rule of Law
Holding and Reasoning (Tashima, J.)
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