Laurence M. Landsman

PARTNER

T: 312-291-4651
landsman@lsclegal.com
LinkedIn

OVERVIEW

From early in my career, I knew I wanted to practice law inside the courtroom. The idea of learning the facts of a dispute and applying them to the law as part of designing an effective strategy that that I present to a judge, a jury or arbitration panel was compelling to me. Fortunately, my career has allowed me the opportunity to practice law in the best way possible, and I have learned the skills to be an effective litigator and trial attorney.

In the course of my journey in law I learned that the integrity of the financial markets depends on eliminating fraud and deception that can affect all market participants. Whether the issue is protecting financial advisors from having their careers destroyed by wrongful termination and U-5 defamation, or whether it’s shielding investors from the devastation of fraudulently destroyed finances, the markets must operate in a reliable and, most importantly, honest manner. The victims of fraud, whoever they are and whatever their role in the securities markets, need the opportunity and ability to hold accountable the people and companies who breach their trust. I am glad to be able to offer them hope and the opportunity to correct egregious wrongs.

I also contribute to the overall improvement of the legal community. I have mentored young lawyers and have volunteered as the Vice-Chair and later Chairman of the Securities Law Committee for the Chicago Bar Association. In addition, I have published several articles in leading legal journals on a wide variety of litigation-related topics, and I have been interviewed for articles in national publications, including the Wall Street Journal and USA Today. Also, I have been the featured speaker for a variety of continuing legal education seminars. I am still an advisory board member to the Loyola Consumer Law Review, and I have been an advisory board member to the charitable organization Little City Foundation.

TESTIMONIALS

“I am pleased to provide a long overdue expression of my gratitude to Larry Landsman for his tireless and aggressive work. Larry is a ‘tough as nails streetfighter with a big brain and bigger principles.’ Consider it an honor to engage the representation of Mr. Landsman”
Client S.H.

“I am very pleased with the outcome of this matter and especially for your skilled handling throughout and your advocacy at the mediation session. I know excellent lawyering when I see it and that is what you provided,”
Client J.R.

“Deeply prepared, tenacious and diligent on our behalf!”
Client A.S.

REPRESENTATIVE CASES

  • $2,250,000 settlement of FINRA arbitration claim on behalf of corporate client against major brokerage firm for improper and fraudulent advice and guidance in connection with raising capital for corporate operations and growth.
  • Ground-breaking class action lawsuit on behalf of children exposed to lead-based paint Chicago Housing Authority residences requiring inspections for lead paint hazards. The settlement included establishing a one-of-a-kind medical monitoring program to detect cognitive injuries in children exposed to lead paint in the CHA’s Section 8 Housing Program.
  • $700,000 settlement on behalf of three investor clients of rogue financial adviser who engaged in investment fraud consisting of a pattern of selling unsuitable investments in mutual funds.
  • $650,000 settlement on behalf of married couple who alleged investment fraud against their financial advisor who implemented an unsuitable investment strategy involving high risk stocks.
  • $600,000 settlement on behalf of a registered financial advisor against this former brokerage-firm employer for defamation relating to allegations in his Form U-5 discussing purported reasons for his termination.
  • $550,000 settlement on behalf of investor who alleged investment fraud against brokerage firm that failed to execute the client’s option strategy
  • $236,000 2021 FINRA Arbitration Award: Arbitration panel awarded my client, a registered financial advisor, $236,000 for wrongful termination and for filing a false and defamatory disclosure on his Form U-5.
  • 2021 FINRA Arbitration Award: This is the third straight favorable FINRA arbitration award I received in 2021 on behalf of clients. This one was particularly satisfying and represents an unqualified triumph for my client. Obtained reformation of a false and defamatory U-5 disclosure made by a brokerage firm against a former registered financial advisor who was wrongfully designated as having been terminated rather than resigning. Client’s award also required brokerage firm to pay his full attorneys’ fees, plus $10,000 in sanctions for discovery abuses.
  • 2021 FINRA Arbitration Award: In multi-part award, the arbitrators awarded my client, a registered financial advisor, $300,000 based on the panel’s finding that the former employer brokerage firm constructively terminated my client by making his working conditions intolerable, and negligently misrepresented the terms of the financial advisor loan program. These decisions of liability against a brokerage firm are indeed rare.

EDUCATION AND BAR ADMISSIONS

Education:

  • Bachelor of Arts, Political Science, Syracuse University. 1986.
  • Juris Doctor, cum laude, Chicago-Kent College of Law. 1989.
Bar Admissions:
  • 1989, Illinois Supreme Court
  • 1989, U.S. District Court for the Northern District of Illinois
  • 1991, U.S. District Court for the Northern District of Illinois, Trial Bar.

PUBLICATIONS

  • Strengthening Public Pension Funds by Attacking Investment Fraud, IPFA “The Size Up,” (June 2011).
  • Major Reform to Rules Governing the Broker-Investor Relationship Is On The Way, ISBA Corporation, Securities & Business Law Forum, Vol. 56, No. 2 (Jan. 2011).
  • Financial Fraud is One of the Biggest Off-Field Challenges to NFL Players, Marquette University Law School ‘For The Record’ (Dec. 2010).
  • If Your Broker Tells You to Buy, Reconsider, Physicians Money Digest (October 16, 2008).
  • Appraisers May Owe Duty to Third Parties, Chi. D. Law Bull., Vol. 143, No. 86 (May 1, 1997).
  • The Effects of Laughlin v. Evanston Hospital on Consumer Fraud Act Claims for Nondeceptive Unfair Acts or Practices, 9 Loy. Consumer L. Rep. 54 (March 1997).
  • Wilson v. Clark: Determining the Trustworthiness of an Expert’s Underlying Data, 79 Ill. B. J. 290 (June 1991).

PUBLISHED INTERVIEWS AND ARTICLES

  • Reed, Why Arbitration Prevailed in J.P. Morgan Client-Poaching Case, FA Magazine (December 17, 2021).
  • Horowitz, Former UBS Broker Wins Reduction in Note Balance Case, AdvisorHub (March 12, 2019).
  • Barlyn, Digging Up Dirt and Deciphering It, Wall Street Journal (March 14, 2011).
  • Kelly, NFL Star Sues ‘Long-Term Friend’ for Investment in Airplane Hangers, InvestmentNews (October 25, 2010).
  • Mullen, Two Players’ Lawsuits Target their Former Financial Advisers, SportsBusiness Journal (October 18, 2010).
  • May, Briefly Noted, The May Report (February 20, 2010).
  • Vogt, Looking for a Financial Adviser? Beware These Red Flags, American Medical News (June 12, 2006).
  • Reed, Going for Broker, Chicago Magazine (January 2005).
  • Farrell, Viatical Life insurance Deal Concerns Elderly Couple, USA Today (February 28, 2001).

PERSONAL AFFILIATIONS

  • Former Chairman, Securities Law Committee, Chicago Bar Association.
  • Advisory board member, Loyola Consumer Law Review
  • Advisory board member, Little City Foundation
  • Presenter, Mealey’s Midwest Lead Litigation Conference, 79 Ill. B. J. 290 (June 1991).