Matthew Solomon represents corporate and individual clients in high-stakes civil and criminal investigations and litigation before U.S. and global regulatory authorities and in U.S. courts.

Matt has been at the center of some of the most groundbreaking litigation in fintech and emerging technologies over the past decade, including cases against the SEC involving the crypto markets, actions against state attorneys general over prediction markets, and novel commercial disputes in fintech. He brings advocacy and judgment honed over 25 years before corporate boards, regulators, and courts to sharpen the issues, press the strongest arguments, and keep strategy grounded in clients’ business objectives.

Matt draws on a rare combination of high-level government service and extensive trial experience to guide clients through every phase of civil and criminal matters, including as lead trial counsel. He regularly practices before the SEC, DOJ, CFTC, and state attorneys general, and achieves superior results representing public and private corporations, banks, and asset managers. He also has a strong track record defending senior executives in sensitive government-facing matters: he has never lost a hearing or trial, has never settled a case for fraud, and in the vast majority of his cases has persuaded the government to walk away entirely.

Matt’s commercial litigation practice focuses on securities and complex civil disputes, including cross-border matters. He brings significant trial experience to that work: in government, he first-chaired dozens of bench and jury trials in state and federal courts nationwide, and in private practice he has served as lead trial counsel in multiple complex civil litigations over the past five years, including two highly publicized cases that resulted in full dismissals for his clients. His credibility in securities enforcement and litigation is reflected in his retention as an expert witness on securities-related topics, including in a securities class action in Oklahoma state court and a complex commercial dispute in the New York Supreme Court.

Matt’s work has earned several awards and distinctions. He was named Litigator of the Week by The American Lawyer’s Litigation Daily in July 2023 after helping secure the only favorable summary judgment decision against the SEC in a crypto case. In 2024, Law360 named him an MVP for achieving “a rare dismissal” against the government, which “dropped its claims” against his clients before trial. Matt recently earned a Band 1 ranking in Chambers USA for Securities Regulation and Enforcement, complementing his Chambers rankings in FinTech Disputes (Band 2) and White-Collar Crime & Government Investigations (Band 4).

Before joining Cleary, Matt spent five years as the SEC’s Chief Litigation Counsel, overseeing all litigated matters conducted by the agency’s 150-attorney national trial unit. Earlier, he served as Chief of the Fraud Unit and as an Assistant U.S. Attorney in the U.S. Attorney’s Office for the District of Columbia. He began his career as an Honors Program trial attorney in the Criminal Division’s Public Integrity Section, following two federal judicial clerkships on the Second Circuit Court of Appeals and the D.C. District Court.

 

 

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Notable Experience

Corporate Representations (Litigation and Enforcement)

  • Kraken, a centralized cryptocurrency exchange, in multiple U.S. agency enforcement matters and in securing dismissal of all claims in litigation filed by the SEC in the U.S. District Court for the Northern District of California.

  • Crypto.com, a centralized cryptocurrency exchange, in multiple district and appellate litigation matters, including multijurisdictional litigation against state authorities in connection with prediction markets and a related qui tam state court action.

  • MoonPay, a multinational financial technology company, in multiple U.S. agency enforcement matters that all closed with no action, and in class action litigation in the Central District of California asserting that certain NFTs were offered and sold as unregistered securities.

  • Digital Finance Group, a research-driven family office, in litigation in multiple districts and appellate courts in connection with foreign discovery requests. 

  • Jane Street, a research-driven trading firm, in crypto-related litigation in the Southern District of New York.

  • T-Mobile U.S. and Deutsche Telekom in a multi-week federal trial brought by a coalition of state attorneys general challenging the T-Mobile/Sprint merger; the verdict cleared the deal, resulting in a combined company with an enterprise value of $146 billion.

  • OPKO Health, Inc., a fully integrated healthcare company, in an SEC investigation, federal court litigation, and class action litigation, resulting in a favorable SEC resolution.

  • A Mexico-based global telecommunications company in connection with an SEC investigation that closed with no action.

  •  A Japanese pharmaceutical company in connection with an insider trading investigation that closed with no action.

  • A global cosmetics company in connection with an SEC whistleblower complaint involving allegations of accounting and sales improprieties that closed with no action.

  • A multi-billion-dollar hedge fund/broker/-dealer and market maker in connection with multiple SEC and FINRA inquiries that ended with no agency action.

  • A Mexican steel company in connection with an SEC investigation that ended with no action.

  • An Australian gaming company in multiple U.S. and international regulatory matters that closed with no action.

  • A venture capital firm and its founder in SEC and DOJ investigations that closed with no action.

  • A U.S.-based large-scale market-making firm in connection with the SEC’s “off-channel communications” sweep, resulting in rejection of a global settlement demand and subsequent case closure.

  • Old Ironsides Energy, an oil- and gas-focused private equity firm, in connection with an SEC investigation and favorable resolution.

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Individual Representations (Litigation and Enforcement)

  • The CEO of Ripple Labs Inc., a global fintech company, in SEC enforcement matters and in obtaining full dismissal of all claims in litigation brought by the SEC in the Southern District of New York. 

  • The former CFO of BlueCrest Capital Management, in an SEC investigation concluding with no government action. 

  • The former CFO of GWG Holdings, Inc., a life settlements company, in SEC and DOJ investigations, as well as class action and trustee litigation, concluding with no government action.

  • The former CFO of Austal Limited, Inc., a global shipping company, in DOJ and SEC investigations that concluded with no government action.

  • A former senior vice president of Fluor, a global engineering and construction firm, in an SEC investigation concluding with no government action.

  • The CEO of a multinational fintech company, in DOJ and SEC investigations concluding with no government action.

  • An audit partner at PwC in a PCAOB investigation concluding with no government action. 

  • A founder of a multi-billion-dollar venture capital firm in connection with DOJ and SEC investigations related to cryptocurrencies, resulting in no government action.

  • The former CEO of a large U.S. manufacturing company in connection with an SEC investigation into alleged perquisites concluding with no government action.

  • The CEO of a public medical services company in connection with an SEC investigation into related-party transactions, concluding with no government action.

  • The co-founder and chief operations officer of a fintech company in an SEC investigation concluding with no government action.

  • A trial witness in connection with the public corruption prosecution of former N.J. Senator Robert Menendez.

  • A Member of the United States House of Representatives in connection with a federal public corruption investigation concluding with no government action.

  • A procurement official of a global telecommunications company in connection with DOJ and SEC investigations into potential accounting fraud concluding with no government action.

  • The CEO of a public manufacturing company in connection with a five-year fraud investigation resulting in a favorable strict liability resolution with the SEC.

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Expert/Compliance/Advisory

  • Retained as testifying expert on SEC policies and practices in connection with a class action lawsuit in Oklahoma state court following the take-private transaction of Continental Resources; case resolved favorably after deposition testimony.

  • Retained as testifying expert on the SEC’s Regulation M and related regulations in connection with a New York Supreme Court trial involving a dispute between hedge fund partners and their former fund; case ongoing after expert qualification and trial testimony.

  • Retained by multiple Fortune 100 companies to advise on cybersecurity-related issues in connection with a 2021 SEC cyber sweep.

  • Retained by multiple investment advisers and broker-dealers to advise on insider trading and MNPI-related policies and trading issues.

  • Advised multiple public companies in connection with their whistleblower and anti-retaliation policies.

  • Advised a global hospitality company on its anti-corruption policies and procedures.

  • Advised multiple global financial institutions and investment advisers in connection with revisions to whistleblower and anti-retaliation policies and procedures.

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Selected Activities

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  • Steering Committee Member, 2021 Forum on SEC Enforcement, Cambridge Forums
  • Barrister, Edward Bennett Williams Inn of Court

Publications

“Deny With Care: SEC Rescinds Settlement “Gag Rule,” Creating Risks and Opportunities for Settling Defendants,” (co-authored with Tom Bednar, Breon S. Peace, Victor L. Hou, and Samuel Levander) Cleary Gottlieb Alert Memorandum, May 19, 2026.

“New SEC Enforcement Director David Woodcock Outlines Enforcement Priorities, Including Focus on Financial Reporting and Private Funds,” (co-authored with Tom Bednar, Jonathan S. Kolodner, Lisa Vicens, Breon S. Peace, Matthew Yelovich, and Jennifer Kennedy Park) Cleary Gottlieb Alert Memorandum, May 14, 2026. 

“Enforcers Target Fund Valuation Practices,” (co-author with Tom Bednar, Samuel Levander, and Gabrielle Kim) Cleary Enforcement Watch blog, March 16, 2026.  

“SEC Enforcement Taking Shape: What’s Changed, What’s the Same, and What it Means for Those Under Investigation,” (co-author with Nowell D. Bamberger, Tom Bednar, Christopher R. Kavanaugh, Jonathan S. Kolodner, and Samuel Levander) Cleary Gottlieb Alert Memorandum, March 3, 2026. 

“The Shifting SEC Enforcement Landscape: 2025 Year-in-Review,” (co-author with Tom Bednar and Katie McGuire) Cleary Gottlieb Selected Issues for Boards of Directors in 2026, January 15, 2026.

“SEC Announces Formation of Cross-Border Task Force to Combat Fraud,” (co-author with Robin M. Bergen, Thomas A. Bednar, Joon H. Kim, Victor L. Hou, Breon S. Peace, and Samuel Levander) Cleary Gottlieb Alert Memorandum, September 9, 2025. 

““Ending Regulation by Prosecution”: The DOJ’s Revised Outlook on Digital Assets,” (co-author with Robin M. Bergen, Rahul Mukhi, Jennifer Kennedy Park, and Samuel Levander) Cleary Gottlieb Alert Memorandum, April 9, 2025. 

“Consumer Protection Compliance Remains Crucial in Spite of CFPB Work Stoppage,” (co-author with Nowell D. Bamberger, Tom Bednar, Lisa Vicens, and Katherine Koza) Cleary Enforcement Watch blog, February 20, 2025. 

“President Trump Issues Executive Order Pausing FCPA Enforcement and Directs Revision of Enforcement Guidelines,” (co-author with Lisa Vicens, Rahul Mukhi, Joon H. Kim, Jonathan S. Kolodner, David A. Last, and Jackson Adams) Cleary Gottlieb Alert Memorandum, February 12, 2025. 

“The SEC’s Crypto Task Force Maps Its Journey,” (co-author with Tom Bednar, David Lopez, Hugh C. Conroy, Deborah North, Rahul Mukhi, Brandon M. Hammer, Samuel Levander, and Alexander Janghorbani) Cleary Gottlieb Alert Memorandum, February 5, 2025. 

“An Active Year in Enforcement, with Changes to Come,” (co-author with David A. Last, Lisa Vicens, Tom Bednar, and Ava Bayani Kazerouni) Selected Issues for Boards of Directors in 2025, January 16, 2025. 

“Digital Asset Litigation Defence: Leveraging the Statutory Seller Requirement,” (co-author with Thomas A. Bednar, Samuel Levander, and Andrew Khanarian) Global Legal Insights - Blockchain & Cryptocurrency Regulations 2025, October 25, 2024. 

“Trio of SEC Enforcement Actions Underscores Importance of Internal Controls, Including in M&A Context,” (co-authored with Thomas A. Bednar and Yasmeen Duncan) Cleary Enforcement Watch blog, September 19, 2024; republished by the Harvard Law School Forum on Corporate Governance

“SDNY Court Dismisses Several SEC Claims Against SolarWinds and its CISO,” (co-authored with Francesca L. Odell, Jonathan S. Kolodner, Rahul Mukhi, Michael John Kowiak, and Thomas A. Bednar) Cleary Gottlieb Alert Memorandum, July 26, 2024

“Supreme Court Limits SEC’s Use of In-House Adjudication; Raises Questions for Other Agencies,” (co-authored with Robin M. Bergen, Nowell D. Bamberger, Thomas A. Bednar, Alexander Janghorbani, Samuel Levander, and Andrew Khanarian) Cleary Gottlieb Alert Memorandum, July 11, 2024

“2023 Year-in-Review: Developments and Trends in White Collar Enforcement Litigation,” (co-authored with Lisa Vicens, David A. Last, and Amira Perryman) Cleary Gottlieb Selected Issues for Boards of Directors in 2024, January 17, 2024

“SEC Announces FY 2023 Enforcement Results with Second-Highest Penalties on Record,” (co-authored with Robin Bergen, Tom Bednar, Sarah Choi, Andrea Trespalacios and Justin M. McCoy) Cleary Enforcement Watch blog, November 27, 2023

“MiCAR and Morrison: Navigating Opportunities and Challenges for U.S. Digital Asset Companies in the EU and in the UK,” (co-authored with Laura Prosperetti, Bernardo Massella Ducci Teri, and Andreas Wildner), Global Legal Insights, November 2, 2023.

“Takeaways From DOJ’s Novel Insider Trading Indictment,” (co-authored with Adam E. Fleisher, Tom Bednar, and Sarah Choi), Law360, April 11, 2023

“DOJ and SEC Charge Healthcare Executive With Insider Trading Through a Rule 10b5-1 Trading Plan, Marking DOJ’s First Such Indictment,” (co-authored with Adam E. Fleisher, Tom Bednar and Sarah Choi),Cleary Enforcement Watch blog post, March 8, 2023.

“U.S. SEC Enforcement 2022 Year in Review,” (co-authored with Robin M. Bergen, Tom Bednar, Alexander Janghorbani and Meghan A. Leibold), December 5, 2022.

“Implications Of SEC’s Latest Insider Trading Charges,” (co-authored with Tom Bednar and Sarah Choi), Law360, September 30, 2022.

“Lessons From the SEC’s Largest-Ever Audit Firm Penalty,” (co-authored with Lisa Vicens and Tom Bednar), Law360, July 13, 2022.

“5th Circuit Decision Further Undermines Use of Administrative Courts for SEC Enforcement Actions and Provides Fresh Ammunition to SEC Rulemaking Challenges,” (co-authored with Tom Bednar, Alexander Janghorbani, and Jackie Brune), Westlaw Today, June 17, 2022.

“SEC Nearly Doubles Size of Digital Asset Enforcement Team,” (co-authored with David Lopez, Tom Bednar, Alexander Janghorbani, and Samuel Levander), Cleary Cybersecurity and Privacy Watch blog post, May 4, 2022.

“SEC’s “Shadow Trading” Insider Trading Case Allowed to Proceed,” (co-authored with Adam E. Fleisher, Robin Bergen, Daniel Montgomery, and Tom Standifer), Cleary Enforcement Watch blog post, January 24, 2022.

“2021 Developments in Securities and M&A Litigation,” (co-authored with Joon H. Kim, Victor L. Hou, Roger A. Cooper, Lisa Vicens, Jared Gerber, Rishi N. Zutshi, Nowell D. Bamberger, Abena Mainoo, Rahul Mukhi, Lina Bensman, Mark E. McDonald, Alexander Janghorbani, Anthony M. Shults, Avion A. Tai, and Chelsea Hanlock), Cleary Gottlieb Alert Memorandum, January 18, 2022.

“SEC Charges Eight Companies and Signals Need for Better Disclosures About Delayed Filings,” (co-authored with Nicolas Grabar, David Lopez, Alexander Janghorbani, and Fernando A. Martinez), Cleary Gottlieb Alert Memorandum, May 6, 2021.

“The SEC’s Whistleblower Program: What Every Company Needs to Know,” (co-authored with Sean X. McKessy), New York Law Journal, January 15, 2021

“Priorities, Trends and Developments in Enforcement and Compliance,” (co-authored with Joon H. Kim, Robin M. Bergen, Lisa Vicens, and Samuel Levander) Selected Issues for Boards of Directors in 2021, January 11, 2021.

“SEC Brings Enforcement Action Against Global Brokerage Company, Finding False and Misleading Statements In Connection With Non-GAAP Financial Measures,” (co-author with Nick Grabar, Lisa Vicens, and Robin M. Bergen) Cleary Enforcement Watch blog post, November 9, 2020.

“What to Expect From the Biden Administration,” (co-author with Giovanni P. Prezioso, Francesca L. Odell, James E. Langston, Helena K. Grannis, Joon H. Kim, Victor L. Hou, D. Bruce Hoffman, Leah Brannon, Jeremy J. Calsyn, Kyle A. Harris, Paul Marquardt, Chase D. Kaniecki, Michael J. Albano, Mary E. Alcock, Diana L. Wollman, Jason R. Factor, and Corey M. Goodman), Cleary Gottlieb Alert Memorandum, November 9, 2020; republished by by Harvard Law School Forum on Corporate Governance and Financial Regulation, November 11, 2020

“SEC Internal Controls Case Demonstrates Agency’s Focus On MNPI Issues In The Stock Buyback Context,” (co-author with Matthew P. Salerno, James E. Langston, Jeffrey D. Karpf, Nicolas Grabar and Francesca L. Odell), Cleary Gottlieb Alert Memorandum, October 19, 2020; featured in the Society for Corporate Governance Weekly Newsletter October 21, 2020

“SEC Issues Enforcement Action Against Unikrn, Inc. for its ICO, Prompting Rare Public Dissent from Commissioner Hester Peirce,” (co-author with Alexis Collins, Colin D. Lloyd, Zachary L. Baum and Jim Wintering), Cleary Enforcement Watch blog, September 24, 2020

“Supreme Court Upholds, with Limits, the SEC’s Authority to Seek Disgorgement,” (co-author with Breon S. Peace, Alexander Janghorbani and Robin M. Bergen), Cleary Gottlieb Alert Memorandum, June 25, 2020

“Supreme Court Puts the Brakes on the “Bridgegate” Scandal and Affirms That Property Must Be the Object of Federal Fraud Schemes,” (co-author with David Brodsky, Rahul Mukhi, and Victoriya Levina), Cleary Gottlieb Alert Memorandum, May 11, 2020; republished by Law360, May 12, 2020

“SEC Chief Accountant Weighs in on Accounting Issues During the COVID-19 Outbreak,” (co-author with Sandra L. Flow, Nicolas Grabar and Abena Mainoo), Cleary Enforcement Watch blog, April 9, 2020

“Second Circuit: Criminal Fraud Statutes Do Not Require Prosecutors to Show that Tippers in Insider-Trading Cases Received a ‘Personal Benefit,’ (co-authored with David E. Brodsky, Lev L. Dassin, Victor L. Hou, Robin M. Bergen, and Jonathan S. Kolodner) Cleary Gottlieb Alert Memorandum, January 13, 2020

“Headwinds and Shifting Priorities: Beyond the Numbers in the SEC Enforcement Division’s 2019 Annual Report,” (co-authored with Robin Bergen, Alexander Janghorbani, Jenny Paul, and Samuel H. Chang), November 11, 2019, republished by the NYU Compliance & Enforcement blog, November 12, 2019

“Supreme Court to Consider Whether the SEC Has Authority to Seek Disgorgement in Federal Court Actions: Will the Court Further Prune the SEC’s Enforcement Powers?,” (co-authored with Robin Bergen, Jennifer Kennedy Park, Alexis Collins, and Alex Janghorbani, November 4, 2019, republished by Law360, November 6, 2019

“SEC Brings Settled Action Against Mylan N.V. for Alleged Failure to Disclose Government Investigation,” (co-authored with Robin Bergen, Adam Fleisher, Rahul Mukhi and Alexander Janghorbani), October 8, 2019, republished by the Columbia Law School Blue Sky Blog, October 15, 2019 and Law360, October 17, 2019

“Proposed Bad Actor Disqualification Act of 2019 Would Severely Limit the Availability of Waivers for Institutions Entering into Settlements with the SEC and DOJ,” (co-authored with Robin Bergen, Alexander Janghorbani, and Joon Kim), July 9, 2019; republished Harvard Law School Forum on Corporate Governance and Financial Regulation, July 20, 2019

“SEC’s Gladius Enforcement Shows That Cooperation Pays,” (co-authored with Pamela Marcogliese, Alex Janghorbani, and Jim Wintering) Law360, March 12, 2019; republished Harvard Law School Forum on Corporate Governance and Financial Regulation, March 14, 2019

“Retail, Remedies, Resources and Results: Observations From the SEC Enforcement Division 2018 Annual Report,” (co-authored with Robin Bergen, Alexis Collins, Anne Hilby, and Adam Motiwala), Cleary Enforcement Watch blog, November 6, 2018; republished by the Harvard Law School Forum on Corporate Governance and Financial Regulation, November 24, 2018

“The Tesla Settlement – What It Means for Other Companies,” (co-authored with Nicolas Graber and David Lopez) Harvard Law School Forum on Corporate Governance and Financial Regulation, November 14, 2018

“Lorenzo v. SEC: Will the Supreme Court Further Curtail Rule 10b-5?” (co-authored with Roger Cooper and Les Silverman) Harvard Law School Forum Corporate Governance and Financial Regulation, July 30, 2018

“Supreme Court Ruling on SEC-Appointed Judges,” (co-author with Alex Janghorbani), Harvard Law School Forum on Corporate Governance and Financial Regulation, July 16, 2018

“Cleary Gottlieb Discusses SEC’s Latest Take on Digital Assets as Securities,” (co-author with Mike Krimminger, Pam Marcogliese and Zachary Baum), Columbia Law School Blue Sky Blog, June 21, 2018

“Kokesh and Its Impact on SEC Enforcement, a Year Later,” (co-author with Alexander Janghorbani and Michael Heckmann), Law360, June 4, 2018

“Failure to Disclose a Cybersecurity Breach” (co-author with Pam Marcogliese, Rahul Mukhi, and Kal Blassberger), Harvard Law School Forum on Corporate Governance and Financial Regulation, May 17, 2018 

“The SEC Cyber Unit’s First 6 Months, and What’s Ahead,” (co-author with Jonathan Kolodner, Rahul Mukhi, and Anne Titus Hilby), Law360, April 2, 2018

“Pitfalls of Voluntary Remediation by Investment Firms,” (co-author with Robin Bergen, Adrian Rae Leipsic, and Alexis Collins), Law360, February 8, 2018

“Supreme Court Grants Certiorari on the Constitutionality of SEC ALJ Appointments–What This Means for the Securities Industry,” (co-author with Alex Janghorbani and Richard R. Cipolla), Compliance & Enforcement blog from the Program on Corporate Compliance and Enforcement and New York University School of Law, January 24, 2018

“Analysis of SEC Enforcement Division Annual Report,” (co-author with Robin Bergen and Alexis Collins), Harvard Law School Forum on Corporate Governance and Financial Regulation, December 6, 2017

“Cleary Gottlieb Discusses Federal Spoofing Conviction,” (co-author with Lewis Liman and Jonathan Kolodner), The Columbia Law School Blue Sky Blog, August 16, 2017

“Supreme Court Applies Five-Year Statute of Limitations to SEC Disgorgement Claims,” (co-author with Lewis Liman and Alexander Janghorbani), Harvard Law School Forum on Corporate Governance and Financial Regulation, June 7, 2017

“Fate of the SEC In-House Court: Careful What You Wish For,” (co-author with Alexander Janghorbani and Richard Cipolla), Law360, May 23, 2017

“Acting SEC Chair’s Steps to Centralize the Process of Issuing Formal Orders—Are Commentators Drawing the Right Lessons?” (co-author with Lisa Vicens), Harvard Law School Forum on Corporate Governance and Financial Regulation, March 13, 2017

“GC Whistleblowing And Other Implications From Bio-Rad,” Law360, February 28, 2017

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