Maddox Hargett & Caruso, P.C.

Mark E. Maddox

Mark E. Maddox is the founder of Maddox Hargett & Caruso, P.C. where he concentrates his practice in securities law. Since the firm's founding in 1991, Mr. Maddox has represented hundreds of investors in legal disputes with stockbrokers and their brokerage firms.

From 1989 to 1991, Mr. Maddox served as the Securities Commissioner for the State of Indiana, eventually becoming the Chairperson of the International Enforcement Committee of the North American Securities Administrators Association. During his tenure as Indiana Securities Commissioner, Mr. Maddox also served on the Indiana Governor's Initiative on Economic Development Policy Panel.

In 1991, Mr. Maddox left his employment with the State of Indiana and opened a private practice to represent investors in securities arbitration, litigation and regulation. Today the law firm Maddox founded, Maddox Hargett & Caruso, P.C., is one of the country's largest and most active firms representing aggrieved investors.

In addition to his legal practice, Mr. Maddox continues to work vigorously on consumers' behalf in the public arena. He served as president of the Public Investors Arbitration Bar Association (PIABA) in 1998 and 2000 and on PIABA's board of directors for eight years from 1994 to 2002. Mr. Maddox remains active in PIABA and has also served on the NASD National Arbitration and Mediation Committee (NAMC) from 1996 through 1998 and again from 2002 through 2005. In 2004-2005, Mr. Maddox became the first member of the investor bar to be appointed Chairman of the NAMC.

Mr. Maddox is a member of the Public Arbitration Panel of the Financial Industry Regulatory Association. In addition, he is a member of the Indianapolis Bar Association and the Indiana State Bar Association. Mr. Maddox was selected by his peers as an Indiana Super Lawyer from 2002 - 2009.

Over the years, Mr. Maddox has been a frequent lecturer for Continuing Legal Education on Securities Law, as well as an avid speaker at securities-related seminars.

Education

• B.A. magna cum laude — Wabash College, 1983
• J.D. — Vanderbilt University School of Law, 1986

Bar Admissions

• Indiana State Bar, 1986
• Illinois State Bar, 2000
• U.S. Supreme Court, 1995

Publications

Mr. Maddox is regularly quoted by the local and national media on securities-related issues. These outlets include: The New York Times, The Wall Street Journal, Los Angeles Times, Washington Post, Business Week, Boston Herald, Indianapolis Business Journal, Indianapolis Star, Indianapolis News, USA Today, Securities Week, Newsday, Investment News, Indiana Lawyer, Money Magazine, Registered Representative Magazine, Compliance Reporter, Seattle Times, Chicago Tribune, Dow Jones Newswires, The Street.com, SmartMoney and BusinessWeek.

Thomas A. Hargett

Thomas A. Hargett is a senior partner in Maddox Hargett & Caruso, P.C. Mr. Hargett's legal practice concentrates on providing representation to investors in securities arbitration and litigation.

In October 2002, Mr. Hargett represented a group of investors from Marion, Ohio, in a lawsuit against Prudential Securities. After a five-week jury trial, investors were awarded $11.6 million in compensatory damages for their estimated losses. The Ohio court also ruled that Prudential had to pay $250 million in punitive damages, in what is believed to be the largest jury verdict ever in a U.S. securities class-action suit. This matter eventually settled after the punitive damages were reduced on appeal.

Before earning his law degree, Mr. Hargett worked for twelve years in various capacities in the brokerage industry including, but not limited to: a retail and institutional fixed-income broker, a wholesale broker of investment products, a sales manager of a mutual fund family, and a market-maker on the Chicago Board of Options Exchange.

In addition to his membership with the Arbitration Panels at the National Association of Securities Dealers Regulation, Mr. Hargett is a member of the Public Investors Arbitration Bar Association, where he has served on the Federal Legislation Committee. Other professional affiliations include American Bar Association, the Indiana Bar Association, and the Indianapolis Bar Association.

Mr. Hargett is a fellow in the Litigation Counsel of America, a Trial Lawyer Honorary Society. Mr. Hargett has been selected by his peers as an Indiana Super lawyers in 2005, 2006, 2007, 2008, and 2009.

Dedicated to community service, Mr. Hargett is the President-elect of the Indiana Children's Wish Fund and has served on its board of directors since 2003. Mr. Hargett is also the President of the Sigma Nu Housing Corporation, having served on the board since 2004 and on the Board of Directors of the White Star Endowment, an organization that grants scholarships for academic excellence and financial need to Indiana University students.

Education

• B.A. — Indiana University, 1980
• M.B.A. — Northwestern University, J.L. Kellogg School of Management, 1983
• J.D. — Indiana University, School of Law, 1994

Bar Admissions

• Indiana State Bar, 1994
• U.S. Federal District Court, Northern District of Indiana, 1994
• U.S. Federal District Court, Southern District of Indiana, 1994
• U.S. Court of Appeals, Second Circuit, 2000

Publications

Mr. Hargett is a well known speaker and lecturer on securities-related topics. His experience in securities arbitration and class action litigation has resulted in feature articles in the Wall Street Journal, The New York Times, Newsweek, Business Week, Indianapolis Business Journal, Pittsburgh Tribune Review, Indiana Lawyer, Indianapolis Star, The Memphis Daily News, Marion Ohio Star, Street Talk, Associated Press, Boston Globe, Newsday, Indianapolis CEO, Cincinnati Enquirer, Cincinnati Post, San Mateo County Times, Palm Beach Post, YahooFinance.com, PrimeNewswire, Dow Jones Business News, TheStreet.com, and has appeared on CNN Financial.

Steven B. Caruso

Steven B. Caruso is the resident partner in the New York City office of Maddox Hargett & Caruso, P.C.

In February 2009, Mr. Caruso was nominated to serve as a public member of the National Arbitration and Mediation Committee (“NAMC”) of the Financial Industry & Regulatory Authority (FINRA) which is the advisory group that provides recommendations on rules, regulations and procedures governing arbitrations, mediations and dispute resolution.

Steven B. Caruso completed his term as President of the Public Investors Arbitration Bar Association and has served as a member of its Board of Directors since 2002. The Public Investors Arbitration Bar Association is a national organization of lawyers who represent investors in securities arbitration and litigation.

Prior to joining Maddox Hargett & Caruso, Mr. Caruso was associated with several brokerage firms in the securities industry and was engaged in the private practice of securities law, which concentrated on providing representation in securities arbitration and litigation matters. His prior securities-related positions include having served as General Counsel for a national brokerage firm with approximately 500 institutional and retail account executives in 15 branch offices; Managing Director of Corporate Finance and Investment Banking for a national brokerage firm with approximately 900 institutional and retail account executives in 33 branch offices; and Chairman of the Board of Directors of an Underwriter of an open-ended investment management company.

Mr. Caruso is a member of the New York City Bar Association, the American Bar Association (Section of Business Law, Securities Law Litigation Subcommittee), Public Investors Arbitration Bar Association, and previously served as a National Association of Securities Dealers arbitrator.

Mr. Caruso has been a frequent speaker on numerous issues relating to the securities law and, in November of 1999, participated on the panel on Suitability Obligations in On-Line Investing that was hosted by the North American Securities Administrators Association in Washington, D.C.

Mr. Caruso has been quoted extensively in media outlets including: The Wall Street Journal, The New York Times, Washington Post, CNN, Fox News, Newsweek Magazine, Securities Week, Newsday, Bloomberg Television, Bloomberg News, PBS Nightly Business Report, Dow Jones Newswire, Reuters, Institutional Investor, Investment News, Businessweek Magazine, Canadian Broadcasting Corporation, Baltimore Sun, Boston Herald, Los Angeles Times, Crain's New York, Associated Press Television, TheStreet.com, CBS Marketwatch, National Public Radio, ADR World.com, Registered Rep Magazine, Mortgage Risk Magazine, Financial News Online, Investment Advisor Magazine, Financial Advisor Magazine, Individual Investor Magazine, and Online Investor Magazine.

In August 2007 Mr. Caruso was recognized as one of the “Top Ten to Watch,” by the Board of Editors of Registered Rep Magazine, as an individual who will impact the major trends and issues in the financial services industry in the coming years.

Education

• B.A. — American University, 1977
• J.D. — Hofstra University, School of Law, 1980

Bar Admissions

• New York State Bar, 1981
• U.S. Supreme Court, 2003>
• U.S. Court of Appeals, Second Circuit, 2000
• U.S. Federal District Court, Southern District of New York, 1981
• U.S. Federal District Court, Eastern District of New York, 1981
• U.S. Tax Court, 1981

Publications:

• The Mandatory Industry Arbitrator: An Endangered Species on the Precipice of Extinction, Practising Law Institute, Securities Arbitration 2009
• Sunshine May be the Best Disinfectant for What Ails Securities Arbitration: A Discussion of the 2008 SICA Empirical Study of Fairness, Practising Law Institute, Securities Arbitration 2008
• Effective Closing Statements From the Perspective of Counsel for the Customer-Claimant, New York State Bar Association, Securities Arbitration 2007
• Essential Principles for Honorable Arbitrators, Practising Law Institute, Securities Arbitration 2007
• Motions to Dismiss: A Predatory Tactic That Must be Extinguished, Association of the Bar of the City of New York, New York, N.Y. 2007
• Ethical Standards for Securities Arbitrators: A Statistical Perspective of Potential Partiality (Bias), Practising Law Institute, Securities Arbitration 2006
• Arbitrator Training in the Securities Dispute Arena, The Review of Securities & Commodities Regulation 2005
• Discovery Objections Which are Irrelevant, Unduly Burdensome and are Reasonably Calculated to Lead to the Concealment of Admissible Evidence, New York State Bar Association, Securities Arbitration 2004
• Mutual Funds: Trends, Discovery, Abuses & Exhibits, Public Investors Arbitration Bar Association, Bonita Springs, Florida 2004
• Model Arbitrator Instructions: Luxury or Emerging Necessity, Practising Law Institute, Securities Arbitration 2004
• Ethical Considerations in Settlement Agreements, Association of the Bar of the City of New York, New York, N.Y. 2004
• Examination of the Adverse Broker: Unimpeachable Questions with an Internet Twist, Practising Law Institute, Securities Arbitration 2001

Speaking Engagements:

• Securities Arbitration - Practitioners' Perspectives on the System, American Bar Association, New York, N.Y. 2008
• Hot Topics & Recent Changes in Securities Arbitration, American Bar Association, New York, N.Y. 2008
• Effective Closing Statements From the Perspective of Counsel for the Customer-Claimant, New York State Bar Association, Securities Arbitration 2007, New York, N.Y. 2007
• Securities Arbitration Strategies, St. John's University School of Law, Queens, New York 2007
• Essential Principles for Honorable Arbitrators, Practising Law Institute, Securities Arbitration, New York, N.Y. 2007
• Hot Topics in Securities Arbitration and Mediation, Association of the Bar of the City of New York, New York, N.Y. 2007
• Hot Topics in Securities Arbitration and Mediation, Association of the Bar of the City of New York, New York, N.Y. 2005.
• Discovery in Securities Arbitration Proceedings, New York State Bar Association, Securities Arbitration 2004, New York, N.Y. October 2004
• Mutual Funds: Trends, Discovery, Abuses & Exhibits, Public Investors Arbitration Bar Association, Bonita Springs, Florida 2004
• Model Arbitrator Instructions, Practising Law Institute, Securities Arbitration, New York, N.Y. 2004
• Ethical Considerations in Settlement Agreements, Association of the Bar of the City of New York, New York, N.Y. 2004
• Uniform Prudent Investor Act, Public Investors Arbitration Bar Association, La Quinta, California 2003
• Trade Execution and Order Execution, Public Investors Arbitration Bar Association, Amelia Island, Florida 2001
• Discount Brokers and On-Line Trading Cases, Public Investors Arbitration Bar Association, San Antonio, Texas 2000