Mark W.Rasmussen

Partner

(T) + 1.214.220.3939

Mark Rasmussen is a seasoned litigator and investigator with more than a dozen years of experience representing clients in complex commercial litigation, securities litigation, regulatory and internal investigations, and bankruptcy litigation. He also advises clients on regulatory compliance related to cryptocurrencies, initial coin offerings (ICOs), and blockchain technology and was recently appointed by Chief Judge Barbara Lynn, of the Northern District of Texas, to be the first ever receiver in an SEC enforcement action involving an ICO promoter. In addition, Mark is co-editor of the book Blockchain for Business Lawyers and is a frequent speaker on legal issues related to blockchain technology.

Mark regularly defends clients in shareholder and consumer class actions, derivative litigation, fiduciary duty claims, merger disputes, and contract disputes. In addition, while at a prior firm, he won a $22 million jury verdict (plus $5 million in punitive damages) on behalf of a technology start-up company in a trade secret case that received significant publicity. Mark also has substantial experience with SEC enforcement actions, DOJ investigations, and internal investigations involving allegations of accounting improprieties and false disclosures, conflicts of interest, FCPA violations, antitrust offenses, and other misconduct. His representations in these areas have included matters in the United States, Mexico, and Brazil.

Mark is also committed to pro bono service. Some of his matters include obtaining asylum for a monk and green cards for abused women under the Violence Against Women Act. He also helped an Hasidic Jewish inmate challenge prison rules under the First Amendment.

Experience

  • Global lifestyle management company explores cryptocurrencies and prepaid access devicesJones Day advised a global lifestyle management company on federal and state regulations concerning the use of cryptocurrencies and prepaid access devices for luxury concierge services.
  • Beneficient Company Group acquires shares in GWG Holdings, Inc.Jones Day advised The Beneficient Company Group, L.P. (BEN), a provider of liquidity products and services to the owners of alternative assets and illiquid investment funds, in its acquisition of shares in GWG Holdings, Inc. (GWG Holdings), a NASDAQ listed company that is a leading provider of liquidity to owners of life insurance in the secondary market, previously held by GWG Holdings’ founding stockholders, Jon R. Sabes and Steven F. Sabes.
  • Jones Day representing first ever receiver in an ICO enforcement actionUpon the recommendation of the United States Securities and Exchange Commission (SEC), the United States District Court for the Northern District of Texas appointed Jones Day partner Mark Rasmussen as receiver to manage the assets of a firm facing alleged securities laws violations related to an Initial Coin Offering (ICO); Jones Day is serving as counsel to the receiver.
  • Canadian ice manufacturer secures Third Circuit affirmation of dismissal of fraud and negligence claims in Delaware bankruptcy court adversary proceedingJones Day secured a precedential ruling from the Third Circuit on behalf of a Canadian ice manufacturer affirming the dismissal of claims alleging that the manufacturer and its former trustees and corporate secretary had violated FINRA and SEC rules in connection with the payment of distributions under a bankruptcy plan of arrangement.
  • Nui Social and Mintage Mining defend against enforcement action relating to cryptocurrency mining productsJones Day is defending Nui Social and Mintage Mining in a Texas State Securities Board enforcement action related to cryptocurrency mining products.
  • FTS International completes $403.7 million IPOJones Day advised FTS International, Inc., a large provider of hydraulic fracturing services in North America, in connection with its $403.7 million initial public offering of Common Stock, underwritten by Credit Suisse, Morgan Stanley, Wells Fargo Securities, Barclays, Citigroup, and Evercore ISI.
  • Marketing company explores cryptocurrencies and cryptocurrency miningJones Day is advising a marketing company on state and federal regulations concerning cryptocurrencies and cryptocurrency mining.
  • IBM amicably resolves litigation over subcontractor payments related to state of the art technology system deployed at Texas A&M's Kyle FieldJones Day defended International Business Machines Corporation ("IBM") against payment claims brought by fiber optic cable installation subcontractors in connection with major renovations and upgrades to Texas A&M's Kyle Field, where IBM designed and provisioned state of the art passive optical network ("PON") and distributed antenna system ("DAS") communications systems.
  • Investment manager sets up cryptocurrency hedge fundJones Day is assisting an investment manager in setting up a cryptocurrency hedge fund, including setting up corporate form and complying with relevant U.S. and state securities regulations.
  • Special Litigation Committee of the Board of Directors of CoreCivic defends series of shareholder derivative actionsJones Day is representing the Special Litigation Committee of the Board of Directors of CoreCivic, a private prison operator, in a series of shareholder derivative actions that have been filed in state and federal court in Tennessee.
  • J.F. Lehman recapitalizes NorthStar Group ServicesJones Day advised long standing client J.F. Lehman & Company ("JFLCO"), a leading mid-market private equity firm focused on the defense, aerospace, and maritime sections, in connection with the recapitalization of NorthStar Group Holdings LLC, and its wholly owned subsidiary, NorthStar Group Services, Inc. (collectively, "NorthStar"), and related amendments to Northstar's senior secured credit facilities.
  • American Midstream Partners successfully enforces bankruptcy sale order related to natural gasoline contractJones Day successfully moved to enforce a bankruptcy sale order under which a third party was obligated to assume and accept assignment of a natural gasoline purchase agreement between a debtor and American Midstream Partners, LP.
  • Jones Day secures default judgment against foundation repair company and its ownerJones Day attorneys obtained a default judgment in Dallas County District Court for a local homeowner whose foundation had been improperly repaired. 
  • MAST Capital portfolio company completes debt restructuring, including $101 million exchange offer of convertible notes for high-yield notesJones Day advised MAST Capital Management, LLC in the offer by its portfolio company, Nebraska Book Holdings, Inc., to exchange up to $133.2 million aggregate principal amount of 2.00% Convertible Senior PIK Notes due 2026 for any and all of its outstanding 15.0% Senior Secured Notes due 2016.
  • Fluor issues €500 million aggregate principal amount of 1.750% Senior NotesJones Day represented Fluor Corporation in connection with the public offering of €500 million (US$560 million) aggregate principal amount of 1.750% Senior Notes due 2023.
  • Boy Scouts of America successfully defends defamation case and receives attorneys' fees under Texas's Anti-SLAPP statuteJones Day represented the Circle Ten Council of the Boy Scouts of America in a Texas state court case alleging defamation.
  • Fortune 500 company undergoes internal investigation involving allegations under False Claims ActJones Day represents a Fortune 500 company in an ongoing investigation by the Department of Justice and other federal investigative agencies focusing on False Claims Act allegations.
  • Former CFO of publicly traded company successfully settles claims of breach of fiduciary dutyJones Day represented the former CFO of a publicly traded company in a Texas state court case alleging breach of fiduciary duty and negligence in connection with the company's accounting and disclosures.
  • Major multinational corporation undergoes internal investigation into accounting fraud and corruptionJones Day conducted an internal investigation into alleged accounting fraud and corruption in the international operations of a major publicly traded multinational corporation.
  • Fortune 500 defense company evaluates potential bid protest theoriesJones Day represented a Fortune 500 defense company in connection with the evaluation of potential bid protest theories arising from a competitor's access to proprietary and confidential information.
  • The following represents experience prior to joining Jones Day:

    Represented a technology start-up and venture capital firm in a trade secret lawsuit against a national electronics retailer in the California federal court, securing a $22 million jury verdict, plus punitive damages and attorneys' fees.

    Represented a gold mining company and its officers and directors in a securities fraud lawsuit in New York federal court, securing a dismissal of some claims followed by a favorable settlement.

    Represented a Fortune 500 hospital operator in a corporate takeover dispute in Texas federal court, obtaining the dismissal of lawsuit alleging violations of federal securities laws.

    Represented a global investment bank in its $686 million fraud lawsuit against a hedge fund relating to a contemplated CDO transaction.

    Represented a national health insurer in ERISA, antitrust, and RICO class action lawsuit concerning reimbursement of medical benefits at usual, customary, and reasonable rates.

    Represented a private equity company in a highly contested restructuring of a producer of alumina-based materials, obtaining approval of refinancing plan under which client and other senior lenders received payment in full.

    Represented a Fortune 500 pharmaceuticals company in a breach-of-contract dispute under the AAA rules involving the calculation of supply prices and development costs under the agreement.

    Represented a marine container leasing company in an international arbitration under the CPR rules involving the interpretation of a joint venture agreement under English law (obtained a complete defense verdict).

    Advised a global sports, fashion, and media company in enhancing its FCPA compliance program.

    Speaking Engagements

    • May 21, 2019
      PLI One-Hour Briefing: "Investor Protection and the SEC’s Digital Asset Framework "
    • April 10, 2019
      Cybercrime, Cryptocurrency, and ICOs, Texas Bar CLE
    • April 3, 2019
      PLI's Private Litigation in the Blockchain Era
    • February 15, 2019
      BYU Blockchain Summit
    • January 16, 2019
      Blockchain: A U.S. Perspective and Implications for the Banking Business
    • December 18, 2018
      ABA SciTech Focus on Blockchain: Cryptocurrencies, Initial Coin Offerings, and Financial Regulations
    • December 11, 2018
      PLI's Blockchain Technology, Smart Code, and Smart Contracts: Issues and Risks
    • November 8, 2018
      Jones Day Emerging Technology Seminar
    • November 6, 2018
      Blockchain and Cryptocurrency: Challenges and Opportunities
    • October 22, 2018
      Blockchain Technology and Legal Issues, Dallas Bar Association
    • October 19, 2018
      Demystifying Cryptocurrency and Blockchain for the Federal Equity Receiver, NAFER Annual Conference
    • October 17, 2018
      Digital Asset Strategies Summit
    • October 4, 2018
      Beyond the Basics of Blockchain, New York State Bar Association
    • October 2018
      Beyond the Basics of Blockchain: Current and Future Use Cases and Corresponding Regulatory Development, New York State Bar Association
    • September 25, 2018
      Blockchain and Smart Contracts: The Legal Landscape, Tech Titans Blockchain Forum
    • September 13, 2018
      SEC Hot Topics Institute, Donnelley Conference
    • September 10, 2018
      41st Annual Southwest Securities Conference
    • September 7, 2018
      An Introduction to Blockchain Technology and Key Issues for Lawyers Advising Clients in that Space, Dallas Bar Association
    • August 17, 2018
      Federalist Society Cryptocurrency Teleforum
    • August 2, 2018
      Republican Attorneys General Association RLDF Tech Summit: Cryptocurrencies and Compliance
    • June 28, 2018
      Blockchain in Shared Services
    • June 22, 2018
      ALAS General Meeting: What Law Firms Need to Know about Cryptocurrency
    • June 11-12, 2018
      Bitcoin and Cryptocurrency Investment (BCI) Summit
    • June 7, 2018
      Legal Issues for Lawyers Advising Clients on Blockchain Technology, West Legal Education
    • June 6, 2018
      Mastering Bitcoin, Blockchain and Digital Currencies, The Rossdale Group
    • May 8, 2018
      Lessons Learned and Practice Pointers: Regulators' Perspectives Regarding Cryptocurrency Receiverships, NAFER Regional Conference
    • April 25-26, 2018
      Third Annual Latin America Privacy & Cybersecurity Symposium
    • April 18, 2018
      International Legal Technology Association: Blockchain 101
    • April 11, 2018
      Blockchain in the Enterprise, Federal Reserve Bank of Dallas
    • March 23, 2018
      The Future of ICOs: Initial Deed Offerings via the ERC-721 Standard
    • March 8, 2018
      Blockchain Technology in the Energy Sector, 2018 WSPP Spring Operating Committee Meeting
    • February 28, 2018
      The Blockchain Revolution: Baking Privacy, Cybersecurity, and Data Integrity Into Government and Company Systems Using Distributed Ledger Technologies, The Masters Conference
    • February 16, 2018
      BYU Blockchain Summit
    • January 24, 2018
      Reinventing Money: The State of Cryptocurrency, Ft. Worth Business Press
    • December 7, 2017
      Blockchain and Cryptocurrencies: Applications and Legal Issues
    • Novemer 7, 2017
      Blockchain for the Financial Industry
    • October 24, 2017
      Blockchain Boot Camp, North Texas Blockchain Alliance
    • September 26, 2017
      Blockchain & Smart Contracts
    • September 15, 2017
      Blockchain and Cryptocurrencies: Applications and Legal Issues
    • August 30, 2017
      Mastering Bitcoin, Blockchain, and Digital Currency
    • August 24, 2017
      NIRI Southwest Regional Conference: Key Issues Facing Public Companies, SEC Enforcement Actions, Corporate Governance, and Public Disclosure Initiatives
    • July 26, 2017
      Blockchain Technology in the Media and Entertainment Industry
    • April 6, 2017
      Bitcoin and Blockchain Technology: Legal Issues and Emerging Trends
    • February 14, 2017
      Federal Court Practice: Responding to Complaints
    • December 7, 2016
      SEC Enforcement Trends and Forecast of Future Enforcement Activity -- Dallas CPA Society
    • October 31, 2016
      The Nuts and Bolts of Responding to Complaints in Federal and Texas State Court
    • September 27, 2016
      Constitutional Challenges to the SEC's Administrative Proceedings and Recent Amendments to the SEC's Rules of Practice
    • May 19, 2016
      Recent Amendments to the Federal Rules of Civil Procedure: A Concise Overview of What Changed and How Courts are Interpreting the New Rules
    • March 30, 2016
      Recent Developments in Delaware M&A Litigation: Is the Disclosure-Only Settlement Dead?
    • January 12, 2016
      Disclosure to the Government: Navigating the Complex World of Privilege Waiver and Cooperation Credit
    • October 27, 2015
      Attorney-Client Privilege and Work Product Doctrine in Internal Investigations: Latest Developments for Corporate, Securities and White Collar Attorneys
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