Joseph A. Sacher is a Partner in GRSM’s Miami office and a member of the Securities Litigation, Commercial Litigation, and Appellate practice groups. Joseph has extensive litigation, trial, and appellate experience in securities and complex commercial litigation in State and Federal courts.

Joseph represents individuals, businesses, accountants and accounting firms, and financial institutions in general and complex, multi-million-dollar civil litigation as both plaintiffs and defendants. He has successfully defended accounting firms in shareholder and professional liability disputes; has been recognized for obtaining the third largest Florida Jury Verdict in 2013 in the category of Contract Disputes; and has obtained an attorneys’ fees award in excess of $1 Million.

He has been recognized by his peers in the area of Securities Litigation and has extensive securities litigation experience, particularly in connection with investigations and enforcement actions brought by the U.S. Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”). He has advised and successfully defended numerous individuals, entities, local, regional and public companies, as subpoena recipients, subjects/targets in the early stages of SEC and FINRA enforcement investigations, and defendants in full-blown enforcement actions brought by the SEC, through trial and appeal.

During law school, Joseph interned at the SEC’s Atlanta Regional Office. Since graduation, he has lectured to CPAs, attorneys, international bankers, and college students on issues relating to the liability of accountants and the securities industry, and has written articles on the Federal Securities Laws, including a Lead Feature Article in The Federal Lawyer.

Separate from his experience in general and specialized litigation matters, Joseph also acts as outside counsel to various types of business entities, providing general advice, assisting with corporate documentation, advising on regulatory compliance, and acting as a liaison to State and Federal regulatory authorities, with a particular emphasis on crisis management and avoidance.

Admissions

• Florida
• Georgia (Inactive)
• 11th Judicial Circuit Grievance Committee, “A” (2016-2018, Chair 2018)
• U.S. District Court Northern District of Georgia (Inactive)
• U.S. District Court Southern, Northern and Middle Districts of Florida
• U.S. Court of Appeals 11th Circuit

Memberships

• State Bar of Florida Bar
• State Bar of Georgia Bar (Inactive)
• Federal Bar Association
• Dade County Bar Association (Federal Courts Committee)
• Florida International Bankers Association

St. Louis, et al. v. Bailey, et al. (Fla. Sup. Ct. 2019) – Appeal of first impression disgorgement damage issue concerning $240 million in disgorgement damages, contrary to findings of trial court after bench trial and two subsequent appeals.

In the Matter of Ireeco LLC and Ireeco Limited, Respondents (SEC Administrative Proceeding 2015) — Partially settled first non-fraud SEC action in EB-5 industry, involving alleged Section 15(a) alleged violations of broker-dealer registration provisions of Securities Exchange Act of 1934 against U.S. and Hong Kong LLCs; avoiding any claims against the entities’ principals, and preserving the right to litigate SEC disgorgement and penalty claims.

National Pension Consultants, Inc. (SEC Admin. 2014) Lead counsel for trader and company defending alleged conduct in connection with alleged $9 billion bond trading scheme, including Wells Submission and Wells Arguments to California-based Regional Directors, Branch Chiefs, and ultimately Chief of Enforcement in Washington DC.  The dispute was amicably settled.

Nature's Products, Inc. v. Natrol, Inc. and FCC Products, Inc. (S.D. Fla. 2013) — Represented Defendant/Counterclaimant Natrol, Inc. Obtained partial Summary Judgment on liability for breach of indemnity agreement and breach of implied warranty of merchantability, arising from an FDA Class 1 Recall of client's Protein Powder Products, reserving damages determination for Jury. Subsequently obtained Jury Verdict, following a two-week trial, in the amount of $3,272,705, based on breaches of indemnity agreement, manufacturing contract, express warranty, and implied warranty of merchantability. Obtained additional award of $1.2 million in attorneys’ fees and related expenses post-trial.

SEC v. Kramer (M.D. Fla. 2011) — Successful defense of SEC lawsuit alleging unregistered broker-dealer activity, following two-week bench trial and appeal. The Kramer decision is one of, if not the leading decision on the standard for Unregistered Broker-Dealer liability, and is routinely cited in court filings and secondary sources, including Wright & Miller's Federal Practice and Procedure treatise.

SEC v. Merkin (S.D. Fla. 2012) — Obtained orders directing U.S. Securities and Exchange Commission to submit to Rule 30(b)(6) deposition, overruling SEC's Objections to Magistrate Judge's Order Permitting a Rule 30(b)(6) deposition of the SEC, and denying SEC's motion to stay the deposition.

Compania de Elaborados de Café v. Cardinal Capital Mgmt., Inc. (S.D. Fla. 2003) — Obtained summary judgment of dismissal in successful defense of brokerage firm against lawsuit by non-customer for alleged conversion and fraud. The decision is routinely cited in the Southern District of Florida in matters involving fraud.

Kast v. Tube Media Network, et al. (Broward County Business Court 2011) — Successfully defended CPA firm in multi-million dollar investor suit against defunct cable television station, its officers and directors, and outside accounting firm, by obtaining dismissal with prejudice of Third Amended Complaint against Weinberg & Co., CPAs, and recovering attorneys' fees, pursuant to Florida's Securities and Investor Protection Act.

Representative Cases

• Imerys Talc America v. Ricketts, 262 So. 3d 799 (Fla. 4th DCA, 2018)
• Conde v. Webcollex, LLC, 752 Fed. Appx. 935 (11th Cir. 2018)
• Lopez v. Flores, 223 So. 3d 1033 (Fla. 3d DCA 2017)
• McMillin v. Scarola, 205 So. 608 (Fla. 4th DCA 2016)
• Bovarnick v. Kohler Co., 2016 Fla. App. LEXIS 11486 (Fla. 4th DCA 2016)
• Flores v. Lopez, 197 So. 3d 594 (Fla. 3d DCA 2016)
• SEC v. McKelvey, 2015 U.S. Dist. LEXIS 186196 (S.D. Fla. 2015)
• Nature's Products, Inc. v. Natrol, Inc., et al., 2013 WL 7738172, --- F.Supp.2d --- (S.D. Fla. 2013)
• SEC v. Merkin, 283 F.R.D. 699 (S.D. Fla. 2012)
• SEC v. Merkin, 283 F.R.D. 689 (S.D. Fla. 2012)
• Landmark Am. Ins. Co. v. Moulton Props., 440 Fed. Appx. 788 (11th Cir. 2011)
• SEC v. Kramer, 778 F.Supp.2d 1320 (M.D. Fla. 2011), and appeal dismissed, December 2011
• Ferdie v. Isaacson, 8 So. 3d 1246 (Fla. 4th DCA 2009)
• VOIP, Inc. v. Rivas, 935 So. 2d 17 (Fla. 4th 2006)
• Biomarine Techs., Inc. v. Moulton Props., 933 So. 2d 523 (Fla. 1st DCA 2006)
• Ubuy Holdings, Inc. v. Gladstone, 340 F.Supp.2d 1343 (S.D. Fla. 2004)
• Compania de Elaborados de Café v. Cardinal Capital Mgmt., 401 F.Supp.2d 1270 (S.D. Fla. 2003)
• U.S. v. Word, 129 F.3d 1209 (11th Cir. 1997)

Published Works

• Author, The Value of a Truly Great Indemnity Agreement: When Things Go Bad, Having the Right Business Contract Can Win Your Case, and Reimburse Your Litigation Costs, Including Attorneys’ Fees, The Florida Law Journal, March 2014

Presentations

• Moderator, Judicial Panel, The Florida Bar’s Practicing with Professionalism, August 2016
• Panelist, Whistleblower Laws at Ninth Annual Ethics Seminar – Moral Courage in Action, November, 2015
• Organizer, Meeting between Broker-Dealers and related Securities Industry Professionals and SEC Commissioner Kara M. Stein, held at the SEC’s Miami Regional Office, January 2015