James "Jim" P. McLoughlin, Jr.

The services Mr. McLoughlin provides to his diverse clients include: complex business litigation; corporate investigations; securities litigation and arbitration; class action litigation; and criminal defense. 

Mr. McLoughlin has extensive litigation and arbitration experience, including arbitrations before the NASD, the NYSE, the American Arbitration Association, and the International Chamber of Commerce; trials and appeals in numerous states; and international matters.

Mr. McLoughlin is currently representing clients under investigation related to financial matters by the Department of Justice, the SEC, the CFTC, the North Carolina Attorney General, and other U.S. agencies, as well as the U.K. Financial Services Authority.

He assists a client with the management of its litigation portfolio, including tax, civil, regulatory and labor matters in South America.

Recent internal investigations and criminal matters include:

• He recently represented a healthcare company in the defense of an anti-trust class action in Arizona arising from alleged price-fixing by hospitals in the hiring and payment of hospital staff.
• In 2009, Mr. McLoughlin represented a defendant in a federal criminal fraud case arising from a multi-national, multi-million dollar telephone sweepstakes fraud. 
• After conducting an internal investigation of a whistleblower’s allegations of misconduct, he won an arbitration defending a client against multi-million dollar Sarbanes-Oxley and state law claims brought by the terminated employee, who alleged he was terminated because he was a whistleblower.
• He represented the Bank of America Corporation in connection with the investigation of that corporation's merger with Merrill Lynch and related matters by the Attorney General of North Carolina.
• Representing a public company client in an investigation by the SEC and others arising from the company’s restatement of earnings.
• He supervised and conducted an internal investigation for a health care client during the sale of one of its operations when allegations of fraudulent recognition of revenue and lack of internal controls were made in the division to be sold.
• He conducted an internal investigation of a public company client’s securities reporting and management procedures when the company determined unregistered shares had been sold to the public, and the resolution of those issues with the SEC.
• He conducted an internal investigation in response to an SEC investigation regarding allegations of insider trading by a public company’s CEO.
• Mr. McLoughlin conducted an internal investigation in response to allegations an employee of a financial institution was embezzling.  That investigation led to civil and criminal charges against the employee. 
• Recently, Mr. McLoughlin supervised an internal investigation on behalf of an international medical device manufacturer into allegations individuals affiliated with the company endangered patients’ safety in procedures conducted outside the United States as the result of the knowing misuse of certain medical equipment.

Representative Experience

Civil

• Successfully represented independent directors of Reynolds American in the North Carolina Business Court and in the North Carolina Court of Appeals arising from the acquisition of Lorillard by Reynolds American obtaining a dismissal of the case against them. Corwin v. British American Tobacco, PLC, et al., 796 S.E.2d 324 (N.C. App. 2016)
• Representing Royal Bank of Canada in In re Foreign Exchange Benchmark Rates Antitrust Litigation, (U.S.D.Ct. S.D.N.Y, 1:13-CV-07789-LGS, and Allianz v. Bank of America, et al., (U.S.D.Ct. S.D.N.Y. 1:18-cv-10364) and related foreign exchange cases
• Led the successful prosecution of one of the few defendants’ class actions over the vesting of certain medical benefits under ERISA in U.S. district courts in Minnesota, Ohio and California. See, Rexam Inc. v. United Steel Workers of America, 2006 WL 2530304 (U.S. Dist. Ct., D. Minn.)
• Won a jury trial in the North Carolina Business Court on behalf of a minority shareholder claiming breach of fiduciary duty, breach of contract, and theft of corporate assets. Blythe v. Bell (N.C. Sup. Ct. 11-cvs-933; 2012 NCBC 42 (July 26, 2012)
• Won jury trial on directed verdict defending against claims of breach of contract, bad faith, and theft of intellectual property and defended the verdict on appeal. Robert A. Johns v. Rexam Medical Packaging, 2005 WL 1308319 (M.D. Ga. June 1, 2005), aff’d 2006 WL 1071854 (11th Cir. 2006)

• Represented a national healthcare company in the defense of an antitrust class action in Arizona arising from alleged price-fixing by hospitals in the employment of hospital staff.  Johnson v. Arizona Hospital and Healthcare Association (U.S.D.Ct., D.Az. 07-cv-01292)
• Won a FINRA arbitration defending a client against multi-million dollar Sarbanes-Oxley and state law claims brought by a terminated trading employee who alleged he was terminated for whistleblowing (Martin v. Banc of America Securities)
• Defended a national broker dealer and settled the class action alleging fraud arising from custodial accounts harmed by a Ponzi schemer Mancuso v. Charles R. Schwab & Co., (U.S. Dist. Ct., D.S.C., 2:07-cv-03852) 
• Successful appeal over challenged design patent. Vanguard Identification Systems, Inc. v. Kappos, 407 Fed. Appx. 479 (Fed. Cir. 2011)

White Collar & Regulatory

• Defended the first criminal fraud case and asset seizure brought by North Carolina state authorities related to cryptocurrencies. (State v. Calabro, (Sup. Ct. Guilford Co., N.C.18-CR-090131)
• Defended at trial the first VOIP provider indicted for alleged participation in a cross-border fraud conspiracy. United States v. Dodt, (U.S. D. Ct. W.D.N.C. 3:15-cr-00213)
• Principal counsel for a major U.S. international bank in response to the government investigations in the United States, Europe, and Asia-Pacific related to LIBOR and other reference rates
• Represented major U.S. financial institution in the investigation by and settlement with the DOJ and CFTC of market manipulation in the precious metals market
• Successfully defended and settled a fraud action by the North Carolina Commissioner of Banks on behalf of a national mortgage broker.  State of North Carolina Commissioner of Banks v. W.R. Starkey Mortgage, (Sup. Ct. Wake County, N.C. 09-cvs-023513)
• Conducted a multi-jurisdictional international investigation on behalf of a client to respond to international regulatory inquiries regarding the Panama Papers
• Principal counsel for a major U.S. international bank in the government investigations in the United States, Europe, and Asia-Pacific related to foreign exchange trading
• Assisted an international bank client with the management of its litigation portfolio, including tax, civil, regulatory, and labor matters in South America, particularly in Brazil and Argentina
• Successfully represented a client in a state attorney general investigation of sales practices by placement agents in dealings with state pension officials
• Represented the Bank of America Corporation in the investigation by and settlement with the attorney general of North Carolina arising from its merger with Merrill Lynch
• Conducted a successful, accelerated internal investigation of financial misreporting in a client's division to preserve the sale of the division
• Represented one of two defendants in the first anti-terrorism jury trial after the September 11 tragedy. U.S. v. Chawki Hammoud, (U.S. Dist. Ct., W.D.N.C. 3:00-cr-147)
• Defended and settled money laundering, IEEPA, and tax fraud charges against Abdulrahman al-Amoudi arising from conspiracy to assassinate the Crown Prince of Saudi Arabia by the Libyan government. E.g., United States v. Alamoudi, (U.S. Dist. Ct. E.D.Va. 03-M-1009)
• Successful appeal of sentence to the U.S. Supreme Court after en banc decision by the U.S. Court of Appeals for the Fourth Circuit (381 F. 3d 316), see, United States v. Mohamad Hammoud, 543 U.S. 1097 (2005)

Notable

• Awarded the AV Preeminent™ Judicial Rating by Martindale-Hubbell
• Chambers Partners USA in North Carolina-Litigation: General Commercial, 2006-2021, (“He is a ‘fantastic litigator, who is very, very good at what he does….’”)
• Chambers Partners USA in North Carolina- Litigation: White-Collar Crime & Government Investigations, 2021
• Best Lawyers in America, Charlotte Litigation-Banking and Finance "Lawyer of the Year," 2012; Charlotte Litigation-Regulatory Enforcement (SEC, Telecom, Energy) "Lawyer of the Year," 2020
• Best Lawyers in America, Bet-the-Company Litigation; Commercial Litigation; Criminal Defense: White-Collar; Litigation - Banking & Finance; Litigation - Regulatory Enforcement (SEC, Telecom, Energy); Litigation - Securities, 2009-2021
• Benchmark Litigation, "Local Litigation Star", Appellate, Civil, Criminal, Corporate Governance, General Commercial, Healthcare, Internal Investigations & Securities, 2010-2021
• North Carolina Super Lawyers list, “Top Rated Business Litigation Attorney in Charlotte, NC”, 2006-2021
• North Carolina Pro Bono Honor Society, 2018-2020
• Recipient of the Sally and Bill Van Allen Public Service Award

News

Insights

Affiliations

• Law Clerk to Hon. Eugene Gordon, Senior Judge, United States District Court, Middle District of North Carolina
• Member, Board of Trustees, Lawyers' Committee for Civil Rights Under Law
• Fellow of the American Bar Foundation
• American Bar Association
• North Carolina Bar Association
• New York State Bar Association
• National Association of Criminal Defense Lawyers

Publications

Jim has published on a number of subjects:

• 3RD CIRCUIT PANEL RAISES THE BAR ON RISK DISCLOSURES AS THE TREND TOWARDS GREATER DISCLOSURE CONTINUES, James P. McLoughlin, Jr. & Neil T. Bloomfield, Westlaw Today, March 30, 2021
• WHEN CORPORATE REPORTING CREATES CRIMINAL RISK: CIRCUIT COURT LIMITS CRIMINAL LIABILITY UNDER AMBIGUOUS REPORTING REQUIREMENTS, James P. McLoughlin, Jr. & Edward P. O'Keefe, Westlaw Today, Practitioner Insights Commentaries, 2021 prindbrf 0075, March 5, 2021
• FEDERAL DISCOVERY IN INTERNATIONAL ARBITRATION MAY BE HEADED FOR THE SUPREME COURT, James P. McLoughlin, Jr., North Carolina Lawyers Weekly, July 24, 2020
• INSIGHT: PROFFERS AND GOVERNMENT REPORTING—CAUSE FOR COMFORT AND CAUTION, James P. McLoughlin, Jr. & William Butler, Bloomberg Law, May 5, 2020

• FOURTH CIRCUIT FOREIGN DISCOVERY RULING CHAMPIONS INTERNATIONAL ARBITRATION, James P. McLoughlin, Jr., Law360, Expert Analysis, April 15, 2020

• NAVIGATING IMPLIED WAIVER OF THE ATTORNEY-CLIENT PRIVILEGE AFTER ADOPTION OF FEDERAL RULE 502 OF THE FEDERAL RULES OF EVIDENCE, James P. McLoughlin, Jr., Neil T. Bloomfield, Renee D.K. Miller & Tonya L. Mercer, 67 N.Y.U. Ann. Survey American L. 693, 2012
• DECONSTRUCTING UNITED STATES SENTENCING GUIDELINES SECTION 3A1.4: SENTENCING FAILURE IN CASES OF FINANCIAL SUPPORT FOR FOREIGN TERRORIST ORGANIZATIONS, 28 Minnesota J. of Law & Inequality. 51, 2010

His writings have been cited by a number of courts as contributing to the rationale for decisions, including U.S. district courts in Colorado and California:

• United States v. Alhaggagi, 372 F. Supp. 3d 1005, 2019 U.S. Dist. LEXIS 37889, 2019 WL 1102991
• United States v. Muhtorov, 329 F. Supp. 3d 1289, 2018 U.S. Dist. LEXIS 148175, 2018 WL 4148262
• United States v. Jumaev, 2018 U.S. Dist. LEXIS 119916, 2018 WL 3490886

His writings have been cited by in a number of publications, including the Yale Law Journal, the Harvard Journal on Legislation, and the Cornell Journal of Law and Public Policy. Here is a sampling:

• Article: FAILING TO KEEP THE CAT IN THE BAG: A DECENNIAL ASSESSMENT OF FEDERAL RULE OF EVIDENCE 502'S IMPACT ON FORFEITURE OF LEGAL PRIVILEGE UNDER CUSTOMARY WAIVER DOCTRINE, 68 Clev. St. L. Rev. 637
• Article: PROTECTING THE ATTORNEY-CLIENT PRIVILEGE IN BUSINESS NEGOTIATIONS: WOULD THE APPLICATION OF THE SUBJECT-MATTER WAIVER DOCTRINE REALLY DRIVE ATTORNEYS FROM THE BARGAINING TABLE?, 51 Duq. L. Rev. 167
• Article: THE YATES MEMO: LOOKING FOR "INDIVIDUAL ACCOUNTABILITY" IN ALL THE WRONG PLACES, 102 Iowa L. Rev. 1897
• Article: WHY DYLANN ROOF IS A TERRORIST UNDER FEDERAL LAW, AND WHY IT MATTERS, 54 Harv. J. on Legis. 259
• Article: IS HISTORY REPEATING ITSELF? SENTENCING YOUNG AMERICAN MUSLIMS IN THE WAR ON TERROR, 126 Yale L.J. 1520
• Article: AVOIDING THE TERRORISM ENHANCEMENT, 43 Champion 24
• Article: PUNISHING CRIMES OF TERROR IN ARTICLE III COURTS, 31 Yale L. & Pol'y Rev. 309
• Article: PUNISHING TERRORISTS: CONGRESS, THE SENTENCING COMMISSION, THE GUIDELINES, AND THE COURTS, 23 Cornell J. L. & Pub. Pol'y 517