"Perrie is an exceptional attorney, problem solver and team leader."
– 2021 Chambers USA
Perrie M. Weiner is the partner in charge of Baker McKenzie's Los Angeles office and Chair of the Firm's North America Securities Litigation Group. With over 30 years of experience, Perrie's practice focuses primarily on securities class action and shareholder derivative litigation, and SEC enforcement matters. He is acknowledged as the "go-to advocate for hedge funds facing complex suits and CEOs squaring off against the US Securities and Exchange Commission,” (Law 360). His practice also includes "high stakes" complex business litigation.
Perrie has been approved by American International Group, Inc. (AIG) and XL Group PLC, as one of the few lawyers in California to represent directors and officers in securities and other complex (class action) litigation matters. He is also recognized as a leading individual in Litigation: Securities in California by Chambers USA (2021), and was a key player in growing and leading the Firm's North America Securities Litigation Group, which was ranked in the 2021 US Legal 500. The LA Business Journal named him a Leader of Influence: Litigators & Trial Lawyers since 2019, and the Daily Journal recognized him as one of California’s Top Mega-Rainmakers. He received the Albert Nelson Marquis Lifetime Achievement Award and the Wiley W. Manuel Award for his pro bono legal work. Perrie also has been repeatedly selected for inclusion in Super Lawyers and LawDragon’s Leading Lawyers in America.
Perrie offers clients a holistic approach to advocacy and defends some of the most high-profile and complex regulatory actions and securities fraud class action cases in the US. He represents private equity funds, including hedge funds, broker-dealers, underwriters, placement agents and issuers (including their officers and directors) in SEC and FINRA enforcement proceedings as well as in white collar criminal proceedings. In addition, Perrie defends both underwriters and issuers (and their officers and directors) in securities class actions, shareholder derivative actions and takeover defense litigation.
Beyond securities matters, Perrie also has an active complex business litigation practice, including representing parties in California consumer class actions involving claimed violations of the Right to Privacy (including TCPA, CCPA, "call recording," data breach, cybersecurity and the like), Automatic Renewal Law, Section 17200 and RICO.
Perrie is also at the forefront of recent high-profile Special Purpose Acquisition Company (SPAC) and de-SPAC M&A securities class action litigation, including SEC enforcement, and is a leader of the Firm's global SPAC Rapid Response Team. In addition, Perrie speaks, publishes and is quoted in the media regularly, as he has become a world-renowned authority in the area. He is currently handling the highest-profile case in this niche area, for a space technology company that has been in the news media frequently as the first SPAC where the SEC brought an enforcement action against all market participants, including the SPAC, its officers and directors, the de-SPAC target, its former CEO, and all before the de-SPAC M&A transaction was complete.
Ever the innovator and on the cutting edge of litigation addressing clients' immediate business imperatives, Perrie helped establish and leads the Firm's Lease Litigation and Restructuring (LLRG) practice, created to address clients' needs during the global COVID-19 pandemic. He is actively representing retailers (some with over 250 locations across the US), tech companies, physicians with surgery centers, law firms, and many other types of tenants that have been negatively impacted by the inability to occupy their premises and with related business disruption. Perrie, along with a multi-disciplinary team of Baker McKenzie lawyers, is helping these clients renegotiate and restructure their leases and, where necessary, represent them in landlord-litigated disputes.
Perrie has an international practice, with scores of litigation victories, pending cases and publications widely reported in Time, Business Week, Forbes, The Wall Street Journal, New York Law Journal, Los Angeles Daily Journal, Los Angeles Times, Los Angeles, Money Management Executive, PIPEs Report, HedgeWorld and The Economist, among others. In addition to representing private and public companies in a variety of industries in both national and international business disputes, as well as in securities class and derivative actions, Perrie also represents both domestic and international market participants (including many Chinese issuers traded in the US, as well as underwriters and placement agents with respect to those transactions) in a wide range of securities litigation and enforcement matters, including pre-litigation crisis management counseling.
Representative Legal Matters
Lease Litigation & Restructuring
Represents a makeup studio (with numerous stores in shopping centers around the US) and leader in virtual makeup classes in multiple lease negotiations and litigation matters due to COVID-19.
Represents American music retailer chain with over 250 locations in lease litigation matters throughout the United States.
Represents a high profile Beverly Hills plastic surgeon with a large surgery center in lease negotiations due to COVID-19.
Represents a web designer for K-12 schools using intuitive content management software in ongoing COVID-19 related lease litigation.
Represents a fintech company on ongoing COVID-19 related lease litigation and action for declaratory relief.
Prior to joining the Firm, Perrie acted on the following matters:
Securities: Death Spiral/PIPEs (Private Investment in Public Equities) Litigation
First in Texas, and then in New York, federal court, defense of an investment advisor and its principals in a purported death spiral securities fraud action against claims of unlawful market manipulation and fraudulent misrepresentations arising out of a securities purchase agreement for future priced securities. Based on the strength of the motion for judgment on the pleadings, and in order to avoid Rule 11 sanctions, plaintiffs voluntarily agreed to dismiss their complaint with prejudice and without any payment or consideration.
In Nevada federal court, defense of an investment advisor based in the United States, its principals and certain offshore investment funds, in a purported death spiral securities fraud action against claims of unlawful market manipulation and fraudulent misrepresentation arising out of a securities purchase agreement for future priced securities. Plaintiff voluntarily dismissed its action, and we obtained a judgment of USD 1 million for our client on its own claims against the plaintiff.
Securities: Naked Shorting Litigation
In Texas, defense of a number of national broker-dealers including market makers in a purported naked shorting state securities fraud action against such alleged claims as unlawful market manipulation, RICO and common law fraud. After removing the action from Texas state to Texas federal court based on a federal preemption argument, we successfully moved to dismiss the case.
In Nevada federal court, representation of multiple national broker-dealers including a market maker in a naked shorting securities fraud action against such claims as unlawful market manipulation, RICO and common law fraud. The court granted our motion to dismiss the case.
Representation of Core Pacific Yamaichi, a Hong Kong investment bank, and Core-Pacific Securities, a related California-based broker-dealer, in a private securities fraud lawsuit in the Central District of California, ultimately obtaining dismissal for our clients on summary judgment.
Representation of an AMEX-traded Chinese company and several of its officers and directors in a securities class action involving allegations that, among other things, the company's finances as reported in its SEC filings did not correspond with financial results the company reported to the SAIC, that the company overpaid for several significant assets, pending in the Central District of California.
Representation of the CEO of a major Fortune 500 public company in five shareholder derivative lawsuits, an SEC investigation in California and a US Attorney investigation in the Eastern District of New York regarding options granting issues. The government investigations were terminated with no enforcement action against the client and the private litigation was resolved favorably for the client.
Representation of the officers and directors of a publicly-traded regional bank in a shareholder derivative lawsuit alleging that the defendants rigged an internal investigation to reach a predetermined result. Obtained a complete victory for the defendants on summary judgment.
Complex Commercial and Business Tort Litigation
In Los Angeles Superior Court, prosecution of an action for breach of a loan and option to purchase stock agreement against a privately held technology company. When the court indicated at oral argument that it would grant our motion for summary judgment, we entered into a settlement with the defendant whereby our client received a payment of approximately USD 1 million and five percent of the authorized stock of the defendant.
In Los Angeles Superior Court, prosecution of an action for breach of fiduciary duty and other tort claims on behalf of the largest US privately held computer software company. It was discovered that the then-vice chairman had usurped and diverted a USD 3 million stock investment opportunity (turning out to be worth more than USD 70 million), belonging to a client, to a single purpose venture that he had formed. The case settled on terms very favorable to our client, but which were made confidential by the terms of the settlement agreement.
- Judicial Extern to the Hon. Ralph J. Geffen, US District Court, Central District of California (1985)
- Judicial Law Clerk to the Hon. John R. Kronenberg, US District Court, Central District of California (1986-1987)
- Leading Individual, Litigation: Securities in California, Chambers USA, 2021
- Leaders of Influence: Litigators & Trial Lawyers, Los Angeles Business Journal, 2019-2021
- Northern California Super Lawyers, Super Lawyers Individual Awards, 2004-2018
- Southern California Super Lawyer, 2004-2018
- Albert Nelson Marquis Lifetime Achievement Award, 2017
- Wiley W. Manuel Award for his pro bono legal work, 2013
- Lawdragon's 500 Leading Lawyers in America, 2007, 2012-2013
- Securities Lawyer of the Year, USA, Lawyer Monthly, 2012
- 10 Most Admired Securities Attorneys, Law360, 2010
- Nominated as best contributed articles in the fourth quarter of 2010: "The SEC's Two Pronged Attack on Naked Short Selling," Bloomberg Law, 2009
- 200 Lawyers You Need to Know in Securities Litigation, Lawdragon, 2008
- Highly Commended Award from Emerald Literati Network: "Recent developments in hedge fund enforcement and regulation by the SEC under the leadership of Chairman Cox suggest that he may not be the free market advocate everyone once thought he was," 2007
- California's Top Mega-Rainmakers in the $10 Million Club, Los Angeles Daily Journal, 2004-2007
- Burton Award for Legal Achievement: "Litigation Strategies: Managing Litigation Risk and Addressing Investor Concerns," 2006
- Lawdragon's 3000 Leading Lawyers in America, 2006
- Top 10 Securities Litigators in the US, Securities Law360, 2006
- Who's Who in American Law, 2005-2006
- California's Top Mega-Rainmakers, LA Daily Journal, 2004-2005
- Leading Individual, Litigation, Chambers USA 2006
Professional Associations and Memberships
- Beverly Hills Bar Association (BHBA)
- Los Angeles County Bar Association (LACBA)
- Advisory Board, Institute of Corporate Counsel, USC Gould School of Law
- U.S. Court of Appeals, Sixth Circuit~United States
- U.S. District Court, Central District of California~United States
- U.S. District Court, Northern District of California~United States
- U.S. District Court, Southern District of California~United States
- California~United States
- Loyola Law School, Los Angeles (JD, Dean's List) (1985)
- University of California, Los Angeles (BA, Political Science Honors, College of Honors, Phi Betta Kappa, summa cum laude) (1982)
- Quoted, "Derivative Lawsuit Challenges SPAC Model and Causes Pershing Square to Pivot to New "SPARC" Vehicle," Private Equity Law Report, September 2021
- Interviewed, "Mini-Roundtable US Securities Class Actions," Corporate Disputes Financier Worldwide, Ltd., September 2019
- Guest speaker, "SPACs with Perrie Weiner, Partner in Charge, Baker McKenzie's LA Office," ValueWalk's ValueTalks, October 2021
- Guest speaker, "The Rock 'n Rollin' Lawyer who Runs Baker McKenzie's LA Office," Latte with a Lawyer, June 2021
- Co-author, "SEC Rattles SPAC Market With Novel Enforcement Action," Bloomberg Law, 18 August 2021
- Co-author, "Tips for Liability Prevention for SPACs," Bloomberg Law, 7 July 2021