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Veronica Callahan chairs the firm’s Securities Enforcement & Litigation practice. She concentrates on complex financial and securities litigation, SEC and PCAOB enforcement actions, state attorneys general, state societies of CPAs, white collar matters, and complex internal investigations. Her clients include accounting firms, public issuers, start-ups, life sciences and bio-technology companies, banking institutions, hedge and private equity funds, and non-traditional lenders. Veronica has successfully defended securities class actions; fiduciary duty, suitability and common-law fraud claims; and minority shareholder disputes. She has also efficiently led major internal investigations and successfully defended high-stakes investigatory and enforcement actions involving financial reporting, disclosure, disclosure controls, quality controls, whistleblower, accountant liability, cybersecurity, insider trading, public corruption, and complex accounting and valuation issues. Veronica also has successfully arbitrated and mediated matters and negotiated highly complex settlements.

Veronica regularly writes and lectures on pertinent issues and co-chairs the annual ALI Accountant’s Liability conference at which, most recently, SEC Commissioner Hester Peirce gave the Day 1 Keynote Address, and Former Chair of the PCAOB, Erica Williams gave the Day 2 Keynote Address. They are the most recent leaders to speak at this prominent, long-running conference. 

According to Chambers USA, “Veronica comes recommended for her expert SEC practice. She is a fine choice of counsel for a broad roster of financial services entities.” Clients note, “Veronica is outstanding in every way. Her hard work guides us through challenging issues with success,” and praise her securities litigation, regulatory and enforcement work, noting “[Veronica] is one of the best lawyers I know. She’s the first person I would go to for litigation SEC regulatory matters or enforcement issues.” Clients also comment on Veronica’s ability to think outside of the box and come up with effective creative solutions: noting: “She has a great ability to be creative. Finding creative solutions is her main strength.”

Experience

  • Biotherapeutics public issuer in defending against multiple class actions and a tag-along derivative suit related to allegedly incorrect disclosures regarding its business, including its ability to generate and drive demand for its cell therapies and capitalize on existing demand. 
  • International accounting firm in working with Canadian counsel on significant Canadian regulatory inquiries by multiple agencies related to the firm and its current and former partners and employees.
  • National accounting firm advising on corporate governance, quality control, and PCAOB inspection response issues in response to current trends in the marketplace.
  • Large technology-based public issuer in responding to SEC inquiries regarding a ransomware attack and associated disclosure and disclosure controls. 
  • Multinational healthcare company internal investigation spurred by whistleblower allegations related to potential earnings management practices raising revenue recognition, financial disclosure and internal control considerations.
  • Multi-billion public issuer technology company in an SEC investigation into global cyber-security incident.
  • National consulting firm in SEC investigation into complex financial reporting, disclosure and internal controls issues associated with a public issuer client.
  • Chief Investment Officer and co-owner of registered investment adviser in criminal, SEC, CFTC, and federal and states securities litigation matters involving allegations of inflated valuations of highly illiquid exotic securities, false financial reporting and obstruction of justice.
  • National accounting firm engagement partner in an SEC investigation in which revenue recognition issues of a public issuer client are at issue.
  • Special litigation committee of a large public issuer in conducting an internal investigation into money transfer practices involving significant criminal and civil litigation exposure.
  • Big 4 accounting firm in an SEC investigation in which valuation and impairments of distressed long-lived assets are at issue.
  • Multi-billion dollar private equity fund in an internal investigation involving whistleblower, valuation, and financial reporting issues.
  • National accounting firm and various individuals in an SEC investigation and PCAOB inquiry into domestic and international auditor independence issues.
  • Loan servicer and public bank holding company in litigation alleging breach of representation and fraud claims involving the origination and servicing of residential mortgages.
  • National accounting firm and associated individuals in an SEC investigation into valuation of Level 3 assets under Financial Accounting Standards Board Accounting Standards Codification 820, Fair Value Measurements and Disclosures (formerly FAS 157).
  • Hedge fund in various lawsuits related to the demise of Refco, a New York-based financial services company primarily known as a broker of commodities and futures contracts.
  • Investment adviser in an arbitration alleging claims that included lack of suitability, breach of fiduciary duty, and a request for punitive damages.
  • Global investment banks in a securities class action and related bankruptcy proceeding associated with the demise of a multi-billion dollar hedge fund which purportedly was engaged in a substantial Ponzi-scheme.

Recognition

Chambers USA
Accountant and Auditor Liability (Band 1: Nationwide) (2025)
Securities: Regulation & Enforcement (Nationwide) (2020-2025)
Litigation: Securities (New York) (2015-2019)
Lawdragon 500
“Leading Litigators in America” Securities Enforcement & Litigation (2022-2025)
The Legal 500 US
Securities Litigation: Defense (2014-2023)
Financial Services Litigation (2021-2023)

Credentials

Education

  • J.D., University of California, Hastings College of the Law, 1995
  • B.A., SUNY at Albany, 1992

Admissions

  • New York

Activities

  • Co-Chair, ALI Accountants’ Liability conference
  • Member, New York City Bar

  • Member, American Bar Association, Section of Business Law

  • Member, American Bar Association, ABA Women Rainmakers

  • Member, SIFMA Compliance & Legal Society

  • Member, UC Law San Francisco (formerly UC Hastings College of Law) Board of Trustees
Overview