Overview
Timothy E. Hoeffner is a co-head of the Firm’s accounting defense, securities & corporate governance litigation and bankruptcy litigation practices. He represents leading accounting firms, issuers, directors and officers in lawsuits, arbitration and other proceedings involving federal regulators, bankruptcy trustees, shareholders and noteholders. He also frequently represents accountants, issuers and directors and officers in enforcement proceedings before the US Securities and Exchange Commission, Public Company Accounting Oversight Board (PCAOB), Department of Justice and other federal and state regulatory authorities. His trial experience includes numerous cases in both state and federal district and bankruptcy courts, as well as arbitration and regulatory proceedings.
Tim is currently providing counsel in the sole remaining case against Deloitte relating to Adelphia Communications, and is handling global litigation and regulatory matters for another Big 4 firm in central Europe. He has successfully defended an accounting firm in a lengthy arbitration arising from the subprime market collapse based on the panel’s conclusion that the trustee failed to prove loss causation. Additionally, Tim was lead counsel in enforcement proceedings on behalf of an engagement partner that resulted in a dismissal of all claims following a hearing and appeal to the PCAOB.
Results
- In re Amtrust Fin. Servs. Secs. Litig., No. 17-CV-1545 (S.D.N.Y. 2020); dismissing Sections 10(b) and 11 claims for failure to plead a material misstatement or omission
- Island Partners v. Deloitte & Touche LLP, 05-cv-2770 (S.D.N.Y. and PA Superior Court): opinions granted summary judgment against successor to Rigis entities based on lack of standing and other grounds
- In re Quorum Health Corp. 1:20-bk-10766 (Bankr. D. Del. 2020); successful plan confirmation following five day contested trial
- Plaisance v. Schiller Civ. No. H-17-3741 (S.D. Tex. 2019); dismissing Section 10(b) Exchange Act claim based on Omnicare decision
- In re Nortel Networks (Bankr. D. Del & Superior Court of Justice – Ontario 2015): adopted pro rata theory presented by Canadian Creditors Committee awarding $4 billion to Canadian entities in allocation trial*
- Bynum v. Deloitte Financial Advisory Services, No 03497 (Pa. Ct. of Common Pleas 2014): granted motion for judgment on the pleadings dismissing defamation claim*
- Ahn v. Ott, No. 2005-02878 (Pa. Ct. of Common Pleas 2011): opinion following bench trial awarded return of misappropriated stock and cash to minority shareholder, as well as punitive damages and attorney’s fees*
- Malack v. BDO Seidman, LLP, 617 F.3d 743 (3d Cir. 2010): affirmed denial of motion for class certification in Section 10(b) case and rejecting fraud created the market theory*
- Pacitti v. BDO Seidman, LLP, 929 A.2d 256 (Pa. Sup. Ct. 2007): affirmed dismissal of professional negligence claim for failure to timely file certificate of merit*
*Matter handled prior to joining McDermott.
Recognitions
- Thomson Reuters, Stand-out Lawyer – independently rated lawyers, 2023-2024
- Legal 500 US, Recommended Lawyer, 2023-2024
Community
- College Summit, regional advisory board member
- Team MVP, founder
Credentials
Education
New York Law School, JD, honors, 1986
Rutgers University, BA, 1983
Admissions
New York
Pennsylvania
Courts / Agencies
US Court of Appeals for the Second Circuit
US Court of Appeals for the Third Circuit
US District Court for the Southern District of New York
US District Court for the Eastern District of New York
US District Court for the Eastern District of Pennsylvania
