Rachel L. Fiset

Los Angeles

Rachel L. Fiset, as a managing partner at Zweiback, Fiset & Zalduendo LLP, focuses on high-profile investigations and cases in the Central District of California.

She said one of her biggest successes of the year was receiving a declination from the Securities and Exchange Commission in a two-year-long investigation into a business venture relating to consumer investments in consumable products.

The investigation addressed multiple issues of first impression relating to what constitutes a "security" and how the care and handling of the products affected that designation, Fiset continued.

"I really enjoyed dealing with the novel issues and getting a great result for a young entrepreneurial client," she said. "As with many investigations, it is a long, steady slog to persuade the government that your client acted properly. This case was no different. We had particular challenges with explaining the nature of the business and valuation of the product and how that affected the marketing initiatives of the client. In the end, we had a meeting of the minds."

Fiset has also been defending a civil trade secrets case into flight control systems that appears to have spurred a criminal investigation into her client. Moog, Inc. v Skyryse Inc., et al., 2:22-cv-09094 (C.D. Cal., filed Dec. 15, 2022).

"Recently, we achieved a favorable civil settlement for our client and are now working through the remainder of the criminal investigation, which is based on the same conduct," she said. "I have defended multiple large trade secrets investigations and find it satisfying to dig into the elements relating to what constitutes a trade secret and what actions companies allegedly take to protect their 'trade secrets.'"

Fiset pointed out emerging trends in her field, including the Central District's increased focus on corporate fraud through the Corporate and Securities Fraud Strike Force, a partnership with the SEC and the rising number of PPP fraud investigations. Her insights into these trends reflect a deep understanding of the evolving legal landscape and the challenges it presents.

"PPP fraud investigations resulting from alleged fraud during the global pandemic seem to continue to gain momentum in both the civil and criminal divisions throughout California," Fiset said. "As these cases can garner lucrative settlements for the government, I expect these cases to continue to play out over the course of the next couple of years."

She is actively involved in various professional organizations like the National Association of Minority and Women Owned Law Firm, where she chairs the white-collar practice area committee.