On Wednesday, March 20, U.S. District Judge Andrew S. Hanen dismissed all charges against Jackson Walker client Mitchell Hennessey and co-defendants, ruling that the government failed to state an offense in a case alleging securities fraud.

The government’s entire case hinged on a theory that Mr. Hennessey committed securities fraud because he posted on social media that he owned a stock and his reasons for purchasing the stock but did not also state when he intended to sell the stock. The Court rejected the government’s argument that this constituted a crime and concluded that Mr. Hennessey “did not deprive investors of their money or property through any misrepresentation[.]”

Jackson Walker partner Laura M. Kidd Cordova and associate Michael Murtha represent Mr. Hennessey.

Ms. Cordova, who led the defense, said, “It is an absolute honor and privilege to represent Mitch Hennessey. It was clear to me from the beginning that he did not commit any crime, and it is incredibly gratifying that the Judge recognized that and dismissed all charges against him.”

For more information about the case, see the Variety article “Securities Fraud Charges Dropped Against Social Influencers Accused of Stock-Manipulation Scheme.”

Meet Laura

Laura M. Kidd Cordova is a white collar defense attorney at Jackson Walker and a former assistant chief in the Fraud Section of the U.S. Department of Justice’s Criminal Division. She handles sensitive internal investigations, navigates high-stakes government investigations, and defends clients in complex criminal and civil litigation. Laura has been recognized by The Best Lawyers in America (2023-2024), Lawdragon 500 Leading Litigators in America (2023-2024), and Washington DC Super Lawyers (2020-2021).

Meet Michael

Michael Murtha is an attorney in the Trial & Appellate Litigation and Investigations & White Collar Defense practices of Jackson Walker’s Dallas office. As a former federal clerk at both the trial and appellate levels, Michael draws on his prior experience in the federal judiciary to advise and defend corporations and individuals facing complex criminal and civil accusations at the pre-trial, trial, and appellate levels in federal court. Michael is experienced in representing corporations and individuals facing charges of securities fraud, wire fraud, healthcare fraud, and the like. His practice also includes handling sensitive internal and governmental investigations.

Meet JW

Since Jackson Walker’s founding in 1887, our attorneys have represented some of the most influential companies and business leaders in the world. Today, we remain firmly rooted in Texas while serving clients around the globe. Our Investigations and White Collar Defense team has considerable experience representing businesses and individuals in government investigations and enforcement actions as well as conducting internal investigations. Clients rely on us to be their trusted partners before or after the government initiates an enforcement action. To learn more, visit the Investigations & White Collar Defense practice page.