Jack P. DiCanio

Palo Alto

Jack DiCanio, head of litigation at Skadden's Palo Alto office and co-head of the firm's West Coast litigation practice, has a career marked by handling highly sensitive and complex white-collar matters. He is involved in new technologies such as electronic trading systems, cryptocurrency and digital assets. His role in significant legal matters demonstrates his capacity to navigate complex litigation landscapes adeptly.

For instance, he represented Fujian Jinhua, a Chinese DRAM memory device manufacturer, in a criminal trial related to charges of theft of trade secrets, economic espionage and conspiracy. This case was central to the Trump Administration's efforts to target China for alleged economic espionage. The trial's timing during the COVID-19 pandemic added to its complexity, requiring navigation through both Chinese regulations and U.S. court proceedings.

"Given China's lockdowns and the need to obtain PRC permission for Chinese citizens to testify in criminal proceedings in the United States, it required the trial team to navigate Chinese regulations and internal processes, while at the same time seeking permission from the U.S. court to allow the time necessary for that process to play out," DiCanio said. "Fortunately, the judge demonstrated a strong commitment to the defendant's due process rights and an extraordinary degree of patience. We were so very appreciative."

In another major case, DiCanio is representing Matthew Panuwat, a former head of business development at Medivation, in a pioneering Securities and Exchange Commission case that tests the legality of so-called "shadow-trading." This case is notable as it will be the first to go to trial on the SEC's "shadow-trading" theory, marking a significant legal development in insider trading regulations.

Sharing further insight, DiCanio said regulatory investigations can take considerable time, often years, to complete. They can be very costly for the targets and subjects, distracting to management and the board of directors and present material obstacles to the company's ability to conduct its business, he continued.

"Although it is important for regulators to take the time necessary to thoroughly investigate the issues under review, there needs to be more of a recognition of the substantial burdens placed on the individuals and companies being investigated," DiCanio said. "This can be accomplished by more focused and tailored requests for information, and a willingness to reach quicker decisions on declinations when the facts being developed do not support the bringing of a regulatory action."