Paul J. Lockwood
Paul J. Lockwood engages in securities litigation in Delaware and throughout the country.


He defends corporations, their directors or their advisers in derivative and class action lawsuits relating to accounting issues, mortgage-backed securities, proxy contests, public offerings, and mergers and acquisitions. Mr. Lockwood also has litigated disputes concerning bond indentures, partnerships, joint ventures, trusts and LLCs. A few of the cases that Mr. Lockwood has participated in have included:

  • defending UBS AG and its affiliates in a securities class action and two derivative suits in Puerto Rico arising out of underwriting, financial advisory and broker-dealer services;
  • defending UBS AG in litigation in federal court in New York relating to mortgage-backed securities;
  • defending Bank of America in shareholder derivative suits arising out of its foreclosure practices;
  • defending Horizon Lines, Inc. in securities class action and derivative suits in Delaware and North Carolina arising out of antitrust allegations;
  • defending Swisher Hygiene, Inc. in securities class action and derivative suits in North Carolina arising out of an accounting restatement;
  • defending Cementos Portland Valderrivas, SA in derivative litigation in Delaware;
  • representing Deloitte LLP in partnership disputes in Delaware;
  • defending Merrill Lynch and Bank of America Merrill Lynch in securities litigation relating to auction rate securities;
  • defending Merrill Lynch in litigation arising out of its acquisition by Bank of America;
  • defending Merrill Lynch & Co., Inc. in securities, derivative and ERISA lawsuits arising out of losses suffered from CDOs and subprime mortgages;
  • representing a mutual fund management company in litigation arising out of a bond offering;
  • representing an investment fund in a dispute concerning a shareholders’ agreement;
  • representing an investment fund in a dispute over preferred stock rights;
  • representing HDS Investment Holding, Inc. in litigation regarding post-closing adjustments in a merger;
  • defending Merrill Lynch in lawsuits arising out of Merrill Lynch’s strategic investment in the Philadelphia Stock Exchange, Inc., and lawsuits arising out the merger between Merrill Lynch and Bank of America Corporation;
  • defending MacAndrews & Forbes Holdings Inc. and certain of its officers, directors and affiliates in lawsuits arising out of the bankruptcy of Marvel Entertainment Group, Inc.; and
  • defending McKesson Corporation in numerous state and federal lawsuits asserting claims of securities fraud or breach of fiduciary duty arising out of McKesson’s restatement of its historical financial statements.

Mr. Lockwood also has overseen the judicial dissolution of numerous Delaware corporations through proceedings in the Delaware Court of Chancery. In addition, he frequently provides advice on issues of corporate governance, the federal securities laws and Delaware corporation law.

Mr. Lockwood was selected for inclusion in Chambers USA: America’s Leading Lawyers for Business 2015 and 2016. He also repeatedly has been listed in The Best Lawyers in America.



  • J.D., University of Pennsylvania Law School, 1994 (summa cum laude, Order of the Coif, William M. Maurer Award for Criminal Law)
  • B.S., Cornell University, 1990


  • Delaware
  • District of Columbia


  • Clerkship for the Honorable William B. Chandler III, Court of Chancery of the State of Delaware

Paul J. Lockwood