ALAN C. GEOLOT is senior counsel in the Complex Commercial Litigation group in Sidley’s Washington, D.C., office and has focused on complex commercial, regulatory, and insolvency litigation on behalf of professional firms, financial institutions, and other clients over the past three decades.
Mr. Geolot was a senior member of the Sidley team that represented a major financial institution in multidistrict litigation arising from the fraud at a European multinational company. The Sidley team prevailed in a bench trial brought by one plaintiff, obtained dismissals at the pleading stage or on summary judgment in four other cases, and resolved one case favorably by settlement on behalf of the client.
Mr. Geolot has also focused on defending professional firms and financial institutions in cases involving frauds perpetrated by third parties. These representations have involved lawsuits and multidistrict proceedings in federal and state court as well as proceedings before regulatory agencies such as the SEC and professional licensing groups. Mr. Geolot defended a Big Four accounting firm in a fraud carried out by a Florida audit client in a matter that spawned a class action and several private lawsuits, as well as SEC and related proceedings. Mr. Geolot was also part of the trial team that won a jury verdict in a $135 million negligence/malpractice suit brought by a fund advisor against a Big Four accounting firm in connection with a fraud committed by a third party.
During the thrift crisis, Mr. Geolot assisted two of the Big Four accounting firms in reaching global settlements of pending and threatened litigation by the federal financial regulatory agencies over the professional services provided by the accounting firms to dozens of failed financial institutions. In connection therewith, he participated in negotiations with representatives of the Federal Deposit Insurance Corporation, Office of Thrift Supervision, and Resolution Trust Corporation regarding claims of alleged professional liability with respect to specific failed financial institutions, negotiated the terms resolving Notice of Charges brought by the Office of Thrift Supervision against the firms and individual partners thereof, and participated in negotiation of the settlement agreements resolving all outstanding claims. He also worked on a number of litigation matters involving failed financial institutions addressing the resolution of then-outstanding claims in cases brought by various plaintiffs against the Big Four accounting firms.
Mr. Geolot has also represented debtor and creditor parties in litigated bankruptcy proceedings, including most recently in the City of Stockton, California matter.
Mr. Geolot has also litigated regulatory matters on behalf of telecommunications clients in administrative proceedings before the Federal Communications Commission and state regulatory bodies, as well as representing energy and transportation clients before the Federal Energy Regulatory Commission and former Interstate Commerce Commission.
Mr. Geolot is a co-chair of the firm’s E-Discovery Task Force. He has advised clients on their document retention programs, assisted clients in drafting document retention policies, worked on electronic document preservation issues associated with Sarbanes-Oxley compliance, and worked on cloud computing issues. Mr. Geolot is also a member of the firm’s Alternative Dispute Resolution Resource group and has experience in various forms of ADR, including arbitration, mediation, case evaluation and negotiation. He has also served as Secretary to the Executive Committee of North American Council of the London Court of International Arbitration.