- Miami University (B.A., 1995)
- Ohio State University Moritz College of Law (J.D., 1999)
- Illinois State Bar
- U.S. District Courts for the Northern District of Illinois
- U.S. District Court for the Eastern District of Michigan
- U.S. District Court for the District of Colorado
- U.S. Courts of Appeals for the Sixth, Seventh and Ninth Circuits
Anthony F. Fata
Anthony F. Fata is a partner based in our Chicago office. For more than 20 years, Mr. Fata has represented clients in complex financial matters, including claims arising under the commodity, securities, antitrust, and whistleblower laws. Mr. Fata has regularly appeared before federal and state courts throughout the United States and in regulatory matters overseen by the Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industry Regulatory Authority, Chicago Mercantile Exchange, and other governmental and self-regulatory agencies.Prior to joining KM, Mr. Fata practiced at McDermott, Will & Emery LLP, where he defended SEC enforcement matters, securities class actions, shareholder derivative suits, and consumer class actions. He then joined Cafferty Clobes Meriwether & Sprengel LLP to lead the firm’s efforts in commodity manipulation matters.
Mr. Fata has developed and litigated numerous proprietary cases and has served in leadership positions in multiple cases. Some of Mr. Fata’s experience includes:
- In re Cattle Antitrust Litigation, No. 19-cv-1222 (D. Minn.): Mr. Fata led efforts to develop this proprietary case on behalf of cattle producers and cattle futures traders. Mr. Fata continues to serve in a leadership capacity on behalf of live cattle futures traders. The suit alleges that the “Big 4” meatpacking firms conspired to suppress prices for fed cattle and manipulated live cattle futures traded on the Chicago Mercantile Exchange.
- Dennis v. The Andersons, Inc. et al., No. 20-cv-04090 (N.D. of Ill.): Co-lead counsel of a putative class of exchange-based investors alleging monopolization and manipulation of Chicago Board of Trade soft red winter wheat futures contracts in violation of federal antitrust and commodity exchange laws. Mr. Fata has led all phases of this litigation.
- In re Deutsche Bank Spoofing Litigation, No. 20-cv-03638 (N.D. of Ill.): Co-lead counsel on behalf of a putative class of investors alleging manipulation through “spoofing” of U.S. Treasury futures traded on the Chicago Board of Trade and Eurodollar futures traded on the Chicago Mercantile Exchange. Mr. Fata has led all phases of this litigation.
- In re Bank of Nova Scotia Spoofing Litigation, No. 20-cv-11059 (D.N.J.). As a court-appointed Executive Committee member, Mr. Fata has served in a leadership capacity in this suit alleging that defendants manipulated precious metals futures traded on the New York Mercantile Exchange and the Commodity Exchange, Inc.
- Hershey v. Pacific Investment Management Company LLC, No. 05-cv-4681 (N.D. Ill.). Mr. Fata served as local counsel and assisted lead counsel's litigation efforts en route to securing a $118 million settlement from PIMCO, which was accused of manipulating CBOT treasury note futures.
Confidential Ongoing Whistleblower Cases
- pump and dump manipulation
- evidence tampering during investigation
- asset management fees
- market manipulation
- Apple Device Performance Litigation, No. 18-md-02827 (N.D. Cal.). Mr. Fata was appointed as an executive committee member and co-chair of the damages and settlement committee. The case alleges that Apple throttled iPhones to obscure battery issues. The $325 million settlement in the case was approved by the district court and is awaiting review by the Ninth Circuit.
- Apple iPhone Warranty Litigation, No. 10-cv-01610 (N.D. Cal.) Mr. Fata developed and filed the first complaint in this proprietary case alleging that Apple breached its warranty to iPhone customers by denying claims based on a pretext of water damage purportedly shown by “liquid contact indicators.” After similar complaints were filed, Mr. Fata worked cooperatively with other plaintiffs' firms and led efforts to secure a $53 million global settlement for the class.
- Apple Gift Card Litigation, No. 20-cv-04812 (N.D. Cal.). Mr. Fata developed and filed the first complaint in this proprietary case alleging that Apple withholds funds belonging to victims of gift-card scams. Drawing on his financial crimes expertise, Mr. Fata developed the factual theories underpinning the case, helped to organize counsel, and is currently co-leading efforts on behalf of the class.
- Midway Moving Sales Practices Litigation, No. 2003-CH-16091 (Cir. Ct. Cook Cty). Mr. Fata developed and filed this proprietary case alleging that a moving company used bait-and-switch estimating practices. He successfully obtained an order certifying the class, and defended it on appeal, Ramirez v. Midway Moving and Storage, Inc., 378 Ill. App. 3d 51, 880 N.E. 2d 653 (Ill. App. 1st Dist. 2007). Following extensive litigation efforts, on the eve of trial, the matter was successfully resolved via a class-wide settlement that returned 100% of claimed damages to customers.
- eWork Inc. Sales Practices Litigation, No. 06-cv-00686 (D. Colorado). Mr. Fata developed and filed this proprietary case alleging that an internet job-consultant matchmaker utilized deceptive practices to lure independent consultants to pay for referral services for jobs that did not actually exist. After defeating defendants’ motion to dismiss, Ramirez v. eWork, Inc., No. 06-CV-00686, 2007 WL 2746634 (D. Colo. Sept. 18, 2007), and through additional hard-fought litigation, Mr. Fata successfully led settlement efforts that forced the company to turn 100% of its cash and liquid assets over to the aggrieved customers. The company ceased operations shortly thereafter.
In addition to his law practice, since 2016, Mr. Fata has been an adjunct professor at Seton Hall University School of Law. He teaches J.D., M.S.J. and LL.M candidates in a wide range of financial services courses, including Securities Regulation, Regulating Broker Dealers, Regulating Funds and Advisors, Corporate Finance, Corporate Governance, Financial Crimes Compliance, Regulating Depository Institutions, Financial Privacy, and Corporate Law.
Mr. Fata is active in the Chicago Bar Association, where he Co-Chairs the Securities Law Committee and serves on the Editorial Board of the CBA Record. Mr. Fata is also a recurring panelist for the Practising Law Institute Internal Investigations Seminar conducted in Chicago each year.
Mr. Fata regularly authors articles concerning corporate governance, financial markets and class actions, including:
- Protecting (or Cracking) the Nest Egg: Why Titles and Contracts Matter When Selecting a Financial Professional, CBA Record (February 2021) (co-authored with Delaney Slater);
- Whistleblowers Among Us: The New Regulatory and Self-Policing Paradigm, CBA Record (May 2018) (co-authored with David Kovel);
- The Blockchain Bandwagon-Cryptocurrency on the Move: Marketplace Overview and Regulatory Developments, CBA Record (January 2018) (co-authored with Brian O'Connell);
- Corporate Cons in the 21st Century: Dealing with the Global Employee Fraud Epidemic, PLI Internal Investigations Handbook (March 2017) (co-authored with Corey M. Martens);
- Mitigating, Detecting, and Dealing with Employee Fraud - The Problem of the Inside Job, CBA Record (January 2017) (co-authored with Corey M. Martens);
- The Investigation is Internal, But Is This Document Privileged? An Overview of Privilege Issues in Internal Investigations, PLI Internal Investigations Handbook (April 2016);
- The Securities Exchange Commission’s Whistleblower Program, PLI Internal Investigations Handbook (March 2015);
- The Commodity Futures Trading Commission’s Whistleblower Program, PLI Internal Investigations Handbook (March 2014);
- Untangling the Seamless Web: Seven Critical Assumptions When Planning Investigations, PLI Internal Investigations Handbook (2013); and
- Doomsday Delayed: How the Court’s Party Neutral Clarification of Class Certification Standards in Walmart v. Dukes Actually Helps Plaintiffs, 62 DePaul Law Review 675 (March 2013).