Paul Ferrillo is counsel in Weil’s Litigation Department, where he focuses on complex securities and business litigation. He has substantial experience in the representation of public companies and their directors and officers in shareholder class and derivative actions, as well as in internal investigations. In particular, Mr. Ferrillo has coordinated numerous internal investigations on behalf of audit committees and special committees, and handled the defense of several significant securities class actions alleging accounting irregularities and/or financial fraud.
Mr. Ferrillo has represented companies in a wide range of industries, including retail, apparel, financial services, energy, oil and gas, and real estate. Among his recent notable matters, Mr. Ferrillo is part of the Weil team representing American International Group in securities class action litigation relating to the financial crisis, the Weil team representing lululemon athletica in shareholder class and derivative litigation arising out of alleged defects in lululemon’s popular yoga pants, and the Weil team representing Aéropostale in shareholder class and derivative litigation arising out of disclosures concerning Aéropostale’s inventory and sales levels, and earnings projections. He also was part of the team representing Kinder Morgan Inc. in the successful defense of shareholder litigation brought in connection with the company’s acquisition of El Paso Corp. Mr. Ferrillo’s investigations experience includes work on behalf of the boards of Krispy Kreme Donuts and OM Group.
Mr. Ferrillo also has extensive experience in the area of directors’ and officers’ liability insurance issues by virtue of his prior employment with American International Group (AIG), in its major US underwriting subsidiary, National Union Fire Insurance Company of Pittsburgh, Pa. (the largest writer of D&O insurance in the US), where he held numerous senior-level positions in its claims and underwriting areas. He is recognized nationally as a leader on D&O insurance issues, and frequently counsels public companies and their boards of directors on a vast array of issues relating to the nature, extent, types and availability of all D&O and Management Liability Insurance-related products. He also frequently counsels private equity funds and hedge funds on issues relating to their own distinct D&O insurance needs, and the D&O needs of their portfolio companies. Drawing on this distinctive experience, Mr. Ferrillo provides specialized counseling to clients concerning the actual interplay of their D&O coverage in the class action litigation process.
Outside of his D&O insurance practice, Mr. Ferrillo is a prolific writer, speaker, and commentator on a wide range of subjects. He is a frequent contributor of articles concerning securities, corporate governance, and accounting fraud issues to the New York Law Journal, D&O Diary, Harvard Law School’s Forum on Corporate Governance and Financial Regulation, and other national publications and fora, and is a frequent speaker on securities law, corporate governance and directors’ and officers’ liability insurance issues for the ALI-ABA, the New York State Bar Association, the American Conference Institute, NACD, and the Directors’ Roundtable. Mr. Ferrillo also is a co-editor of and contributor to The 10b-5 Guide, Weil’s annual review of securities fraud litigation in the United States.
Mr. Ferrillo received his J.D. in 1989 from St. John’s University School of Law, and received his B.S. in Accounting in 1986 from St. John’s University.