Sadis & Goldberg delivers sophisticated representation and counsel across a wide range of legal matters. Our reputation as formidable legal advocates on behalf of our clients' interests has been earned in the courts and at all levels of governmental agencies.
Sadis & Goldberg has received a growing list of honors for its representation of businesses and individual clients across the globe, as well as for excellence in the legal profession. Below is a compilation of Sadis & Goldberg awards and rankings. Click on any logo to learn more about the award. (A PDF will open in a new window.)
The firm maintains a diverse, business-oriented practice focused on financial services, litigation, corporate, real estate, regulatory, tax and estate planning. Drawing on the experience and depth of our attorneys in these distinct areas, we can address your immediate needs related to pressing business challenges, while advising your interests in the long term. This collaborative approach brings to the table a collective insight that contributes to sensible, efficient resolutions, and allows us to remain attentive to the cost and time sensitivities that may be involved.
Sadis & Goldberg's clients include domestic and international entities, financial institutions, hedge funds, private equity funds, venture capital funds and buyout funds and commodity pools, and numerous corporate and business entities operating in a variety of industries around the world.
Sadis & Goldberg was founded in 1997 by several prominent attorneys committed to excellence in the practice of law and devoted to developing strong client relationships. The outstanding talent of its attorneys and the intimacy of their relationships with the clients is still the heart of the firm. The senior attorneys are comprised of former SEC enforcement lawyers and seasoned attorneys who started their careers in major law firms. All have vast levels of training and proven track records of professionalism, skill and diligence.
Sadis & Goldberg builds its reputation on the talents of its attorneys. All attorneys at the Firm have vast levels of training and proven track records of professionalism, skill and diligence. To gain a deeper understanding of the talent and experience available to clients of Sadis & Goldberg, please read our attorney biographies and learn more about their backgrounds and accomplishments. Pictured below is our Executive Committee/Partners.
Front row from left to right: Jeffrey C. Goldberg, Ron S. Geffner, Douglas R. Hirsch
Back row from left to right: Danielle Espstein-Day, Mitchell Taras, Steven M. Etkind, Daniel G. Viola, Paul D. Fasciano, Steven Huttler, Jennifer Rossan, Sam Lieberman, Lance S. Friedler, A.J. Alexis Gelinas
Not pictured: Yehuda M. Braunstein
New York-based Sadis & Goldberg LLP represents several hundred investment advisers and related entities, including hedge funds, private equity funds and venture capital funds, and provides regulatory and compliance advice and representation in connection with SEC enforcement proceedings. We have led over 600 hedge funds and other investment funds to success. The firm also provides a full range of sophisticated legal services, including tax, litigation, regulatory, real estate, intellectual property and corporate services, to national and international business.
At Sadis & Goldberg, we pride ourselves on client service and match our clients' needs with our attorneys' experienced legal skills. To learn more about our capabilities, click on the individual practice area listed. Learn how Sadis & Goldberg can help you succeed.
Financial Services, Private Funds and Capital Markets
Serving clients on every continent, routinely named one of the top five law firms in the U.S. for its hedge fund practice, and frequently honored for outstanding results, Sadis & Goldberg is known internationally as a dominant force in the financial services sector.
We represent several hundred investment advisers and related investment entities, including hedge funds, private equity funds, venture capital funds, buyout funds and commodity pools. The firm's vast experience with all types of funds adds value and perspective to our legal advice and business acumen concerning all aspects of alternative investments. The firm routinely counsels investors, as well as negotiates investments in funds and is familiar with trends of such investments. We additionally provide regulatory and compliance advice and representation in connection with regulatory enforcement proceedings involving the SEC, the CFTC, various U.S. Attorneys' Offices and the Federal Bureau of Investigation.
Sadis & Goldberg's Securities Litigation Group consists of experienced securities and commercial litigators. We focus on representing clients prosecuting or defending claims under federal and state securities laws. Our litigators are well versed with the financial services industry and operation of private funds, thereby allowing us to more effectively represent advisers and investors in disputes. We regularly represent clients in court, in arbitration, and in regulatory proceedings with the SEC and FINRA. Recent matters include:
- Representing Ascot Fund, Ltd. in litigation arising from investments lost in Madoff Ponzi scheme.
- Represented NIR Group, LLC in litigation against SEC, and negotiated favorable settlement after obtaining Court order requiring SEC to amend complaint to address deficiencies raised by motion to dismiss.
- Representing two Managing Directors of large investment bank in SEC investigation into alleged insider trading.
- Represented president of broker-dealer in SEC investigation into insider trading related to China Yingxia Int’l, Inc., and negotiated favorable settlement involving less than $100,000 of disgorgement and penalties.
- Represented consultant to Chinese Micro-Cap companies in SEC litigation alleging market manipulation and unregistered securities sales; negotiated settlement significantly lower than disgorgement and penalties initially demanded by SEC.
- Persuaded FINRA not to bring charges against broker-dealer for excessive service charges, after investigation was referred to FINRA Enforcement.
- Representing investment adviser in ongoing SEC litigation alleging that adviser misrepresented liquidity, valuation and use of cross-trading.
- Successfully represented broker against FINRA arbitration churning claims, obtaining decision recommending expungement of claims from FINRA records and favorable settlement for less than 6% of claimed damages.
- Successfully obtained SEC investigatory closure letters with no enforcement action on behalf of numerous clients.
- Successfully litigated and settle numerous disputes between hedge fund investors and advisers.
Sadis & Goldberg's Corporate Group represents business entities in all stages of growth, from small startups and emerging businesses to large and long-established business entities. Our attorneys act as ongoing transactional counselors and resolve complex issues in the United States and internationally, in areas such as mergers and acquisitions; activist investing; derivatives; private equity and venture capital; securities regulation; PIPE transactions; banking and finance; and capital markets. The broad nature of the services we render reflects the wide scope of our clients' needs and the many and varied industries in which they operate. Attorney teams drawn from the firm's related legal areas collaborate to provide the experience needed for each of these transactions, including counsel on issues related to tax, real estate, labor, ERISA, litigation and intellectual property, as the client's circumstances require.
Sadis & Goldberg's Real Estate Group delivers a full spectrum of legal services and solutions related to property investment, land development and management, and real estate finance. Our integrated approach produces results that address your immediate needs while remaining mindful of overall project and business objectives, through all stages of the process. We assist a wide variety of clients, including property developers, lenders, funds, private owners and individuals in matters related to various types of commercial, retail and residential real estate transactions.
Our practice focuses on joint ventures, partnerships and equity investments; real estate finance and capital investments; commercial leasing and retail; and hospitality development, resorts and clubs. The property sectors we serve include single family homes and apartments; condominiums, cooperatives and conversions; residential, commercial and mixed-use properties; hotels; and retail properties and shopping centers.
Regulatory Defense and Compliance
Sadis & Goldberg's Regulatory Defense & Compliance Group provides a full range of services to assist clients to meet compliance obligations. We serve registered and unregistered investment advisers, broker-dealers, commodity pool operators and commodity trading advisers, among others. Our attorneys help to develop and review compliance policies, provide guidance and counsel and, via mock audits and reviews, monitor existing in-house policy and procedures to identify and remediate areas of potential concern.
Sadis & Goldberg's Tax Group possess extensive experience and comprehensive perspective in federal, state, local and international tax matters, including planning and strategy advisement as well as in tax dispute resolution. We provide individual and corporate clients, financial and investment vehicles and executive compensation plans with design structures tailored to their distinct needs and circumstances.
The executive compensation attorneys in Sadis & Goldberg's Tax Group assist companies with a wide range of issues related to the Employee Retirement Income Security Act (ERISA). We advise numerous businesses and pension plan trustees on how to create and operate many different types of pension plans, both qualified and nonqualified. We establish stock ownership plans and other equity incentive plans for companies in a variety of industries, and guide the plan participants through the decision-making process.
Our ERISA services include:
- Plan establishment and amendment, including multiple benefit structures
- Ongoing ERISA compliance for all types of plans
- Advice on pension and other employee benefit issues that arise in merger and acquisition transactions
- Fiduciary counseling for employers and institutions regarding their responsibilities under ERISA
- ERISA tax planning for businesses
- Estate planning to minimize tax liability and provide for intended beneficiaries
Employee Stock Ownership Plans (ESOP)
Sadis & Goldberg has earned national recognition for its ESOP (employee stock ownership plan) practice. Our considerable resources and background in business law, including M&A, corporate, financial, regulatory, and tax disciplines, provides us the insight to assist private and closely held businesses in structuring ESOPs to respond to a variety of issues and challenges. Our clients include business owners, corporations, and internal and external trustees and fiduciaries, which we have represented in a wide range of transactions involving business successions, supplemental employee benefit plans and tax-free recapitalizations.
Our attorneys work closely with banks providing trustee services to the plan and collaborate with the lawyers and advisers to the owners of closely held businesses. This team approach achieves results that make business sense while complying with the complex and technical aspects involved. Additionally, because we believe prior due diligence is the key to successful ESOP transactions, we perform thorough research in preparation for the transaction.
Our attorneys are well-versed in estate planning strategies that successfully align business and personal financial goals. We are particularly adept at structuring plans that minimize estate taxes incurred by fund managers and business owners, and that afford the most advantageous application of lawful exemptions, as well as in utilizing techniques such as various types of trusts that reduce the overall size of the taxable estate.
With proper ownership structure in place, entities that receive management fees and incentive fees for new hedge funds may use the income generated to lower, rather than increase, the value of the estate for tax purposes. Moreover, it is possible to avoid estate taxes completely, utilizing trusts and other techniques that maximize the exemption potential of these investments.
Estate Planning Resources
Sadis & Goldberg offers access to information on common estate planning techniques and documents:
- Basic estate planning documents including wills, durable power of attorney, healthcare proxy, trusts and other instruments
- Business estate planning documents including buy-sell agreements and employee stock ownership plans (ESOPs)
- Intermediate estate planning documents including annual exclusion gifts, irrevocable trusts, grantor trusts, charitable remainder trusts, family limited partnerships and other techniques
- Common estate planning mistakes and how to avoid them
- Financial information to assemble
- Personal inventory
Trusts and Estates
Sadis & Goldberg's Trust & Estates Group structures and administers complex estate plans involving trusts, business succession design and matters related to resolution of disputes for money managers, business owners, tax-exempt organizations, high net worth individuals and families with significant assets. We draw on our firm's substantial resources in the areas of trusts and estates, tax, and finance to assemble a cadre of attorneys whose single objective is to ensure that all possible alternatives and potential opportunities are explored, wealth is transferred efficiently, and the client's intentions satisfied. Our services range from drafting simple wills, trusts and health care proxies, to intricate and complicated estate plan designs as client needs direct.
Sadis & Goldberg's Resources page provides a current list of items in News, In the Press, Events and Seminars, a Library, Videos, a link to our Blog and Related Links to other sites we think you will find valuable. We hope these resources will be useful to you.
Events and Seminars
Throughout the year, Sadis & Goldberg sponsors and organizes seminars and workshops to help professionals, industry representatives and the public better understand a range of legal issues. Our attorneys are frequently speakers at meetings, workshops and conferences hosted by industry and nonprofit organizations.
Sadis & Goldberg's Library provides a list of Newsletters, Alerts, Brochures, Articles and Press Releases that the Firm's attorneys have written, edited or contributed to, as well as an archival listing of these materials.2014 Videos
Forming a Hedge Fund
Definition of a Hedge Fund
A "hedge fund" is a private investment vehicle organized for the purpose of pooling investors' assets. The sponsor of the hedge fund, commonly referred to as the hedge fund manager, invests the hedge fund's assets pursuant to a predetermined investment strategy. It is argued that in the absence of such a pooling vehicle, an investor, on its own, would not be able to diversify its assets or have the resources to monitor, evaluate and implement the investing and trading strategies to be engaged in by the manager. Although historically the defining characteristic of a hedge fund was to "hedge" against market risk and volatility, hedge funds today apply a variety of investment techniques. Unlike mutual funds, which are highly regulated, hedge funds: (i) are not required to redeem investors' assets within seven days from the date on which it receives a notice for redemption from an investor; and (ii) may take illiquid positions without limitation and may engage in leveraged transactions with greater freedom.
This section of the Sadis & Goldberg website offers links to a wide range of other organizations and agencies involved within the alternative investment industry. These links are provided as a courtesy to our users and are not intended as an endorsement or advertisement.
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