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Daniel J. Delaney



Daniel Delaney is distinguished in securities and shareholder litigation, accountants’ liability, antitrust, class actions and other complex financial litigation. Clients value his determination and record of preemptive actions, trial and appellate wins, and negotiated settlements. Dan represents clients in commercial disputes, securities, antitrust and consumer class actions, and is skilled in alternative dispute resolution and administrative proceedings related to securities and financial regulation. In addition to litigation in courts and in ADR proceedings, he represents Big Four accounting firms, their professionals, and others in federal regulatory proceedings.

Securities and Accounting Litigation

Dan excels at defending clients in securities and shareholder derivative actions involving alleged federal securities law violations, including those initiated by the Securities and Exchange Commission (SEC) and other regulators. He often obtains prediscovery dismissals, works to deny class certifications and successfully defends clients at trial or on appeal. His clients include accounting firms, mutual funds, investment firms, accountants and individuals.

Representative Experience

  • Obtained dismissal for Ernst & Young LLP in consolidated multi-district federal securities litigation arising from Ernst & Young’s audits of a family of mutual funds and the valuation of illiquid securities
  • Obtained dismissal of all federal securities claims asserted against Deloitte & Touche LLP concerning its audits of an insurer and the reserves recorded on the insurer’s financial statements
  • Obtained dismissal of shareholder derivative claim asserted against Ernst & Young LLP concerning its audits of a publicly traded manufacturer
  • Obtained summary judgment for Deloitte & Touche LLP in an accounting malpractice claim asserted by the creditors’ committee of a bankrupt real estate firm
  • Trying to judgment and then obtaining entry of final judgment from the 3rd U.S. Circuit Court of Appeals for The Dow Chemical Company in a claim asserting misrepresentations in the financial statements and offering materials for a subsidiary sold in a private transaction
  • Defending Deloitte & Touche LLP in litigation and administrative proceedings involving the FDIC and the OCC related to loss reserve issues during Deloitte’s audits of a failed bank, with the regulators ultimately taking no action against the client
  • Obtained a favorable settlement in an action asserting Section 10(b) and Section 20(a) claims concerning the sale of a public company’s interest in another publicly traded entity, after obtaining summary judgment from the trial court without allowing plaintiff any discovery
  • Successfully representing numerous auditors from multiple “Big Four” accounting firms in various SEC investigations

Class Action, Antitrust and Commercial Disputes

Dan has successfully defended clients in numerous types of class action cases, including class action claims alleging antitrust violations, securities claims, and under consumer and trade practice laws, often crafting global strategies in multidistrict matters. He also handles commercial disputes involving contract and business tort claims and frequently obtains successful outcomes through summary disposition, victories at trial and on appeal and negotiated settlements.

Risk Management and Dispute Resolution

Business clients also seek Dan’s counsel on potential litigation, regulatory matters and risk management associated with transactions, and corporate governance. He frequently advises trustees, directors and their boards on fiduciary duties, SEC compliance and financial disclosure obligations and is particularly skilled in negotiating dispute resolutions to avoid the burden and expense of litigation.

Related Industries


Bar Admissions


Court Admissions

U.S. Court of Appeals for the Tenth Circuit
U.S. Court of Appeals for the Third Circuit
U.S. Court of Appeals for the Seventh Circuit
U.S. District Court for the Central District of Illinois
U.S. District Court for the Eastern District of Wisconsin
U.S. District Court for the Northern District of Illinois


University of Chicago Law School
J.D. with honors (1989)

University of Illinois at Urbana-Champaign
B.A. in Political Science and Economics, magna cum laude with highest distinction, Phi Beta Kappa (1986)

Insights & Events

Leadership & Community

Professional Associations

  • Dan has worked with the American Institute of Certified Public Accountants for many years, including on the development and implementation of a course for accountants seeking to develop expert witness skills.
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