Jeffrey Saxon, former Assistant General Counsel at the New York City Department of Correction, has joined MDF Law, a New York City based commercial litigation firm focused on representing investors and consumers. Mr. Saxon’s departure comes just a few months before New York City Mayor Bill De Blasio is set to be replaced by a new administration.
The Department of Correction has been under siege in recent years, both legally and politically. “It was the right move at the right time,” explained Mr. Saxon, who accepted a position as a partner at MDF Law in New York City in October 2021. Jeffrey Saxon joins MDF Law with fifteen years of diverse experience, including as a trial attorney as well as a supervising attorney for one of the largest law enforcement agencies in the United States. Jeffrey’s practice now involves representing investors in fraud cases against major banks, insurance companies and other financial institutions. “I always had a passion for helping others and taking on big challenges – I am excited to apply my unique skill set to help investors.”
MDF Law is a New York City based law firm that exclusively represents investors in securities fraud cases. The law firm was founded by Marc Fitapelli, a plaintiff’s attorney who has helped recover hundreds of millions of dollars for his clients. The firm does not accept any defense cases and only represents parties that were harmed as a result of securities fraud of some other wrongdoing. Typical cases involve matters related to variable annuities, non-traded REITs or misrepresentations. The firm’s attorneys have also represented victims of the GPB ponzi scheme, which was organized in Long Island, New York.
“Jeff is a talented attorney and seasoned litigator. He knows our courts system inside and out – I am excited to be working with him,” said attorney Marc Fitapelli, the owner and founder of MDF Law. The addition of Jeffrey Saxon to MDF Law comes at a time when the industry is swamped with new cases. “There are no shortages of scams,” explained attorney Marc Fitapelli who attributed the rise of securities fraud cases to historically low interest rates and fears of inflation. “Investors, especially older ones who need income, are seeking out riskier and risker income investments – unfortunately these investments are sometimes much more suspectable to fraud,” said Mr. Fitapelli. He recommends that investors always do their own due diligence and pass on any investments they don’t understand well themselves.
Low interest rates are not the lone reason for an uptick in securities arbitration filings. As a result of COVID-19, many proceedings that have been delayed for over a year are starting to commence. Live hearings before the Financial Industry Regulatory Authority, or FINRA, recently commenced, leaving everyone in the industry very busy.