Timothy Crudo heads the firm’s White Collar Defense and Government Enforcement Practice Group. Timothy is a trial lawyer focusing on investigations and cases brought by criminal prosecutors, government regulators, and shareholders in white collar, securities, and corporate governance matters. He also defends clients in trade regulation, unfair competition, and other complex business and civil cases brought by regulators, consumers, and competitors. Timothy has extensive criminal and civil jury, bench, and arbitration trial experience, including some of the most prominent white collar criminal trials in the Bay Area, the longest civil trial (a securities fraud class action) in the history of the Northern District of California, and the then-largest arbitration award ($250 million) in the history of the International Chamber of Commerce. His clients have included corporations, Boards of Directors and their committees, and individuals in a range of industries, including banking and financial services, audit and accounting, communications, life sciences, clean technology, the Internet, and the automotive industry.
From 2003 to 2009, Timothy served as an Assistant United States Attorney in the Securities Fraud Section of the United States Attorney’s Office for the Northern District of California, where he investigated, prosecuted, and tried white collar and securities fraud crimes, including complex accounting fraud, insider trading, market manipulation, investment fraud, and bankruptcy fraud cases. During his career with the Department of Justice, Timothy was the lead trial lawyer on a number of high-profile securities and corporate fraud matters, including the nation’s first two stock option backdating trials; the trials of the Board Chairman, CFO, and General Counsel of a Fortune 50 company on charges of accounting fraud; the investment fraud trial of one of the largest real estate developers in northern California; a $100 million ponzi scheme operated by the owner of a major sports franchise; insider trading investigations arising from the acquisition of a large financial institution and conduct at a major global private investment firm; and numerous investigations of companies and individuals based in Silicon Valley and beyond. He also argued several cases before the Ninth Circuit Court of Appeals. Timothy was named Chief of the Securities Fraud Section in 2007. Prior to joining Coblentz, Timothy was a partner at Latham & Watkins LLP.
- A Silicon Valley technology company and its board and senior officers in a civil securities fraud class action arising from the company’s initial public offering.
- A Big Four accounting firm in a criminal investigation arising from the failure of one of the largest banks in the country.
- A bank President and Chairman in criminal, SEC, FDIC, and class and derivative investigations and litigation arising from the first TARP-funded bank failure.
- A publicly traded REIT in various federal and state criminal, regulatory, and civil investigations and litigation in connection with residential mortgaged-backed securities and collateralized debt obligations.
- A Section 16 Officer in criminal and SEC investigations and litigation arising from the Galleon insider trading matters.
- A solar energy company and its executives in an SEC investigation, U.S. and Canadian class action lawsuits, and a “whistleblowing” vendor lawsuit arising out of allegations of falsely reported financial statements.
- A global financial services company in connection with a criminal mortgage fraud investigation.
- A former employee of a medical device company in a DOJ/FDA investigation into the regulatory approval of one of the company’s products.
Publications & Speaking Engagements
- Author, “What Really Counts in White-Collar Sentencing,” Litigation, vol. 41, no. 3 (Spring 2015)
- Panelist, "Revenue Recognition Conference 2015: Current Industry Trends & Strategies in Financial Reporting,” SEC Enforcement Issues, Center for Professional Education, San Mateo, CA (March 2015)
- Panelist, "White Collar Defense Roundtable," California Lawyer Magazine (February 2015)
- Moderator, “High Frequency Trading: The Next New Thing in Securities Litigation?," Bar Association of San Francisco Securities Litigation Section, San Francisco, CA (January 2015)
- Co-Author, "Santa's Early for the White Collar Bar," The Daily Journal (December 22, 2014)
- Panelist, "SEC Year-End Conference 2014: An Accounting & Reporting Update for Public Companies," SEC Enforcement: The Current Landscape Session, Center for Professional Education, San Mateo, CA (December 2014)
- Author, "Could 3 Little Words Expand Reach of State Securities Laws?," The Daily Journal (September 2014)
- Co-Author, "George Clooney, Babysitters, and Overseas Employees: Recent Developments in Whistleblower Retaliation Claims," Bloomberg BNA Securities Regulation & Law Report (May 2014)
- Panelist, "When the Whistle Blows: Responding to the Whistleblower Complaint," Institute for Advanced Corporate Counsel, Burlingame, CA (April 2014)
- Panelist, "Revenue Recognition Conference 2014: Current Industry Trends & Strategies in Financial Reporting", SEC Enforcement Issues Session, Center for Professional Education, Redwood City, CA; San Jose, CA (2014)
- Co-Author, "Location, Location, Location: The Current State of Corporate Forum-Selection Provisions," Westlaw Journal (October 2013)
- Co-Author, "Supreme Court Rejects Discovery Rule on Statute of Limitations for Government Enforcement Actions Seeking Civil Penalties," The Corporate Governance Advisor (May/June 2013)
- Panelist, "Revenue Recognition Conference 2013: Current Industry Trends & Strategies in Financial Reporting", SEC Enforcement Session, Center for Professional Education, San Jose, CA; Palo Alto, CA (2013)
- Panelist, “2013 Fraud in Audit, Accounting & Tax Conference: The Top Ten Fraud Issues Every Accountant Should Know,” CalCPA Education Foundation, San Francisco, CA (2013)
- Co-Author, "Challenges in Securities Litigation Involving Foreign-Based Issuers," Bloomberg BNA Securities Regulation & Law Report (October 2012)
- Panelist, “SEC Conference 2012: An Accounting & Reporting Update for Public Companies,” SEC Enforcement Session, Center for Professional Education, San Jose, CA; Phoenix, AZ; Laguna Niguel, CA (2012)
- Speaker, “International Investigations in the Age of Whistleblowers,” Navigant Disputes & Investigations (2012)
- Co-Author, "Who's the 'Insider' in Insider Trading?" Bloomberg BNA Criminal Law Reporter (December 2011)
- Co-Author, "Wiretapping for Beginners," Law360 (February 2011)
- Co-Author, "Effectively Managing an Independent Investigation," Navigant Perspecitves (2011)
- Panelist, “2011 SEC Conference: An Accounting & Reporting Update for Public Companies -What to Do About the Latest Developments,” SEC Enforcement Session, Center for Professional Education, San Jose, CA; Phoenix, AZ0 (2011)
- Speaker, "Insider Trading Primer," Fortune 500 Silicon Valley Technology Company In-House Legal Staff, Sunnyvale, CA (2011)
- Speaker, “Dinner with a Former Fed: What You Really Need to Know about the Worst Case Scenario – And How to Avoid It,” Presentation to the Medical Directors of a large Silicon Valley hospital, Mountain View, CA (2010)
- Panelist, “Navigating Troubled Waters: Minimizing FCPA Risks Abroad,” Client Seminar, Menlo Park, CA (2010)
- Panelist, “The Inside Scoop on Insider Trading Cases,” The Criminal Justice Section of the Bar Association of San Francisco and American Bar Association White Collar Crime, San Francisco, CA (2010)
- Speaker, “Ethical Issues Facing In-House Counsel When the Government Calls,” Fortune 200 Energy Company In-House Legal Staff, San Francisco, CA (2009)
- Speaker, “When Companies and Their Lawyers Go Bad,” Bay Area General Counsel Group, San Francisco, CA (2009)
- Panelist, “Recent Trials: A Roundtable Discussion,” ABA Annual National Institute on White Collar Crime, San Francisco, CA (2009)
- Panelist, “Legal, Ethical, and Practical Issues Inherent in Internal Investigations,” Stanford Law Society of San Francisco, San Francisco, CA (2008)
Timothy is a member of the American Bar Association, the California Bar Association, the Federal Bar Association, and the Association of Business Trial Lawyers. He is the former Chairman and is a current member of the Executive Committee of the Securities Litigation Section of the Bar Association of San Francisco as well as a member of the Executive Committee of the BASF’s Criminal Justice Section.
Timothy regularly appears as a speaker, including on panels sponsored by the American Bar Association, the Practicing Law Institute, the CalCPA Education Foundation, the Center for Professional Education, and the Bar Association of San Francisco, and he is a frequent contributor to various legal publications, where some of his recent articles have addressed insider trading, wire taps, whistleblowers, internal investigations, and the Foreign Corrupt Practices Act. Timothy is also the Governance and Insider Trading Expert for emtrain, a leader in corporate compliance education and training.
A San Francisco native, Timothy is actively involved in the Bay Area community. He is a member of the Board of Directors of the Okizu Foundation and the President of the St. Thomas More Society of San Francisco, and is a past director of the American Cancer Society, the Harvard Club of San Francisco, and the St. Ignatius College Preparatory Alumni Board. He is a member of the Northern District of California’s Criminal Justice Act Panel, and his pro bono activities have included work with the AIDS Legal Referral Panel, the Bar Association of San Francisco's Volunteer Legal Services Program, and civil rights work on behalf of state prisoners. Timothy regularly volunteers with the St. Anthony Foundation and the Ronald McDonald House.
Timothy is a 1984 cum laude graduate of Harvard College, where he majored in History and Literature. He earned his law degree in 1989 from the University of California, Berkeley (Boalt Hall), where he was elected to the Order of the Coif.
Honors & Awards
In 2008, Timothy received a California Lawyer of the Year Award as the leading criminal lawyer in California. He is also a past recipient of the California Bar Association's Wiley W. Manuel Award for Pro Bono Legal Services.