Joel H. Trotter

  • Partner
  • Ejoel.trotter@lw.com
  • 555 Eleventh Street, NW
  • Suite 1000
  • Washington, D.C. 20004-1304
  • USA
  • T +1.202.637.2165
  •  
 

Profile

Joel H. Trotter is the Co-Chair of the firm's national office, a central resource for clients and Latham lawyers facing complex issues arising under the US securities laws. He is the former Global Co-Chair of the Public Company Representation Practice and previously served for 10 years as Co-Chair of the Corporate Department in the Washington, D.C. office.

Mr. Trotter's practice focuses on capital markets transactions, mergers and acquisitions, securities regulation, and corporate governance. He represents issuers and underwriters in the public offering process and other Securities and Exchange Commission-related matters. He counsels boards of directors on governance issues, corporate crises, and business combination proposals.

As one of two lawyers on the IPO Task Force, Mr. Trotter served as a principal author of the IPO-related provisions of the JOBS Act of 2012, enacted by a nearly unanimous Congress to reform the IPO process for emerging growth companies.

Law360 named Mr. Trotter one of the 10 Most Admired Securities Attorneys from over 1,000 nominations, noting his "deep expertise and excellent judgment" on strategic matters, for which he is "one of the firm's go-to sources for advice." Who's Who Legal recognized Mr. Trotter as a leading lawyer who is "adept at handling complex issues for major corporate clients." The Legal 500 US recommended Mr. Trotter for Corporate Governance (Tier 1), and Law Business Research named him to the International Who's Who of Capital Markets Lawyers. 

Experience

Mr. Trotter has represented: 

  • Issuers and underwriters in over 150 initial public offerings (IPO) as the firm's national office advisor on complex issues
  • ArthroCare in its earnings restatement and subsequent US$1.7 billion sale
  • Carlyle in corporate governance and strategic securities law issues
  • Checkpoint Systems in its US$443 million sale
  • Fannie Mae in one of the largest earnings restatements in history
  • Fantex in its IPO of tracking stocks linked to professional athletes
  • FMC Technologies in its US$13 billion merger with Technip
  • Kimco Realty on US$4.5 billion in capital markets transactions
  • Omnicom on major strategic issues and corporate governance
  • Starbucks on corporate governance and securities matters
  • T-Mobile on corporate governance and securities matters
  • VEON on corporate governance and ADS resales of US$921 million

Mr. Trotter also has obtained results from the SEC's Division of Corporation Finance yielding multi-million US dollar cost savings: 

  • Resolving IPO interpretive questions under JOBS Act provisions of which Mr. Trotter was a principal author
  • Avoiding earnings restatements and defending the outcomes with the SEC Staff, including error corrections equal to 9% of annual net loss   
  • Obtaining SEC Staff waivers from financial statement requirements
  • Resolving auditor independence violations that, absent SEC waiver, would require re-audit
  • Obtaining SEC exemptive relief from mandatory periodic reporting to defeat a hedge fund's economically coercive buyout demand

Thought Leadership

  • Washington Insider Briefing: Critical Insight on Proposed US Law Affecting Non-US Companies -  May 23, 2020
  • FAQs: SEC Filing Deadline Relief for COVID-19 – Update -  May 05, 2020
  • Directors, Take Note: ESG Can Drive Value in 2020 -  February 19, 2020
  • Financial Statement Requirements in US Securities Offerings -  January 13, 2020
  • The Secrets of Form 6-K: Getting Behind the Curtain with the FPI Wizard -  October 22, 2018
  • From Ducklings to Swans: More Companies Will Qualify as a “Smaller Reporting Company” -  July 23, 2018
  • Boardroom Perspectives: 5 Key Takeaways on Cybersecurity -  June 01, 2018
  • Boardroom Perspectives: 5 Steps Toward a Workplace Without Sexual Misconduct -  December 19, 2017
  • The IPO Playbook -  October 09, 2017
  • Boardroom Perspectives: 3 Steps FPI Directors Can Take to Oversee Related-Party Transactions -  October 06, 2017
  • Desktop Staleness Calendar for 2018 Offerings -  September 05, 2017
  • New IPO Policy Signals Pragmatic Regulatory Approach -  July 24, 2017
  • Decrypting Non-GAAP Rule Compliance -  July 20, 2017
  • Hail, Hail Freedonia: Frequently Asked Questions About SEC Registration on Schedule B by Sovereign Issuers -  April 26, 2017
  • Boardroom Perspectives: How Directors Can Use Sustainability to Drive Value -  March 21, 2017
  • When Acronyms Collide: 20 FAQs for FPIs as IFRS Meets XBRL -  March 16, 2017
  • US Tax Reform: Strategies for Executing Transactions in the Face of Uncertainty -  March 02, 2017
  • XBRL for Foreign Private Issuers: Coming Next Year -  March 02, 2017
  • Defining Foreign Private Issuers: Are You a Wizard or a Muggle? -  February 08, 2017
  • Key Metrics: Thoughts for Directors  -  November 22, 2016
  • Tips for Upsizing and Downsizing an IPO -  August 08, 2016
  • Refreshing the Board -  July 29, 2016
  • Board Composition: Refreshing the Board -  July 19, 2016
  • The Latham US IPO Guide -  July 11, 2016
  • Recommended Proxy Disclosure for Director Elections and Other Proposals -  March 03, 2016
  • Navigating the SEC’s Proposed Clawback Mandate -  January 01, 2016
  • What You Should Know Going Into the IPO Market -  December 15, 2015
  • Maintaining Director Confidentiality -  October 07, 2015
  • Activist Hot List: Fall 2015 -  October 02, 2015
  • Anticipating Activism: Implications for Your 2016 Annual Meeting of Stockholders -  October 02, 2015
  • How to Navigate the SEC’s Proposed Mandate on Clawbacks -  August 04, 2015
  • Boardroom Perspectives: Oversight of Material Litigation in Four Practical Steps -  June 30, 2015
  • SEC Adopts Regulation A+ Rules -  April 07, 2015
  • Securities and Exchange Commission: Critical Issues Facing Public Companies -  April 01, 2015
  • Three Practical Steps to Oversee Enterprise Risk Management (ERM)  -  March 26, 2015
  • Director Tenure: A Solution in Search of a Problem -  December 18, 2014
  • Desktop Reference: Acquired Business Financial Statements -  September 18, 2014
  • Boardroom Perspectives: Three Practical Steps to Managing FCPA & Anti-Corruption Risks -  June 04, 2014
  • The JOBS Act, Two Years Later -  April 04, 2014
  • The Last Days of Disco Ops -  March 11, 2014
  • The Good, the Bad and the Offer: Law, Lore and FAQs -  March 06, 2014
  • Boardroom Perspectives: Three Practical Steps to Stay Ahead of Shareholder Activism -  March 05, 2014
  • 6 Habits of Highly Effective Boards  -  August 15, 2013
  • How Boards Can Stay Ahead: Strategic Governance in Six Practical Steps -  July 29, 2013
  • “You Talkin’ to Me?” -  July 25, 2013
  • La SEC elimina la prohibición contra la publicidad general en las ofertas privadas de valores en Estados Unidos -  July 15, 2013
  • SEC Adopts Repeal of Ban on General Solicitation; Proposes New Reg D Requirements  -  July 11, 2013
  • 10 Rules for Public Companies When Giving Guidance -  July 01, 2013
  • CFTC’s Clearing Deadline May Loom for Certain REITs -  June 07, 2013
  • What’s the Deal with Regulation M? -  May 30, 2013
  • Q&A: New SEC Disclosure Requirements Take Effect -  February 07, 2013
  • US Sanctions Against Iran Continuing To Expand -  January 28, 2013
  • Giving Good Guidance on Earnings -  January 01, 2013
  • The JOBS Act, Part Deux: Frequently Asked Questions About Title II of the JOBS Act -  December 13, 2012
  • Giving Good Guidance: What Every Public Company Should Know -  October 18, 2012
  • Rules of Engagement: Building Relationships with Your Shareholders Through Effective Communication -  October 18, 2012
  • SEC Adopts "Conflict Minerals" Rules -  September 20, 2012
  • The Working World, Issue 15, May 2012 -  May 10, 2012
  • The JOBS Act After Two Weeks: The 50 Most Frequently Asked Questions -  April 23, 2012
  • Video: Joel Trotter and Alex Cohen Discuss the IPO Task Force -  April 17, 2012
  • The JOBS Act and General Solicitation: Impact on Private Offerings During the Period Prior to SEC Rulemaking -  April 05, 2012
  • The JOBS Act Establishes IPO On-Ramp -  March 27, 2012
  • The Bought Deal Bible -  March 15, 2012
  • Corporate Governance Commentary: Proxy Access and Advance Notice Bylaws in the Wake of Invalidation of the SEC’s Proxy Access Rule: An Approach to Private Ordering -  November 30, 2011
  • Corporate Governance Commentary: Future of Institutional Share Voting Revisited: A Fourth Paradigm -  September 7, 2011
  • Recent Developments In Recent Developments — Using “Flash” Numbers in Securities Offerings -  June 1, 2011
  • Corporate Governance Commentary: Private Ordering in the Brave New World of Proxy Access -  November 3, 2010
  • Cheap Stock: An IPO Survival Guide -  August 12, 2010
  • A Tale of Two Clawbacks: The Compensation Consequences of Misstated Financials -  August 10, 2010
  • Upsizing and Downsizing Your IPO -  July 14, 2010
  • Second Circuit Wades Into the PSLRA Safe Harbor
    The Lessons of Slayton v. American Express for Forward-Looking Statements
     -  June 10, 2010
  • Rules of the Road for the SEC's Corp Fin Review Process -  May 17, 2010
  • Fourth Update: New Short-Selling Restrictions in the United States and Recommendations For a Pan-European Short-Selling Disclosure Regime -  March 22, 2010
  • Adjusted EBITDA Is Out of the Shadows as Staff Updates Non-GAAP Interpretations -  February 22, 2010
  • Proposed Amendments to Rule 10b-18 Under the Exchange Act -  February 2, 2010
  • Interpretive Issues Related to Recent Changes to the New York Power of Attorney Law -  January 27, 2010
  • Corporate Governance Commentary: Proxy Access Bulletin No. 4, Proxy Access Rules will not be in Effect for Upcoming Proxy Season -  October 5, 2009
  • Merger Arbitrage, Beneficial Ownership Reporting and Proxy Contests: Reflections on the Commission's Perry Order -  October 1, 2009
  • Zacharias and Implications for Section 5 Liability -  August 3, 2009
  • Corporate Governance Commentary: Proxy Access Bulletin No. 3, Proxy Access Proposed Rules Published by SEC -  June 15, 2009
  • Declining Market Capitalizations and the Impairment of Goodwill -  February 10, 2009
  • SEC Accepts Financial Statements From Foreign Private Issuers Without Reconciliation to US GAAP If Prepared Under International Financial Reporting Standards -  January 16, 2008
Mr. Trotter is "a key name of note for governance and securities."Legal 500 US 2018
Bar Qualification
  • District of Columbia
  • Virginia
Education
  • JD, University of Virginia School of Law, 1995
    Virginia Law Review
  • BA, University of Virginia, 1992
    Echols Scholar; Raven Society
Industries
  • Aerospace, Defense & Government Services
  • Healthcare & Life Sciences
  • REITs
Practices
  • Capital Markets
  • Activism
  • Public Company Representation
  • Mergers & Acquisitions
  • Emerging Companies
  • Corporate Governance
  • Takeover Planning & Defense