Mr. Flack has represented large and small businesses and individuals in a broad variety of commercial disputes, including securities, oil and gas, fraud, defamation, breach of contract, insurance coverage, shareholder derivative claims, shareholder oppression, ERISA, and breach of fiduciary duty in state and federal courts at the trial and appellate levels.  Mr. Flack has also represented large and small brokerage firms and individual brokers in securities arbitrations and lawsuits involving just about every type of investment and claim, including mortgage and other collateralized, securitized, and structured products, common and preferred stocks, bonds, mutual funds, variable and fixed annuities, margin, churning, suitability, and misrepresentation.  He has also represented corporations and individuals in and out of the securities industry in raiding, forgivable loan, and other employment disputes.  Mr. Flack has litigated securities cases before FINRA, NASD, NYSE, and state and federal courts.  He has represented directors and officers, including senior officers of Enron Corp. and R. Allen Stanford, in massive multi-jurisdictional civil cases, internal investigations, regulatory and congressional investigations, and testimony before the United States Senate.

Mr. Flack graduated from the University of Kansas with Honors in 1986.  He then attended the University of Texas School of Law, where he was also graduated with Honors.  After law school, Mr. Flack moved to New York, New York, where he was an associate with Hughes, Hubbard, & Reed and Arnold & Porter.  In 1994, Mr. Flack returned to Texas and joined Clements, O’Neill, Pierce & Nickens.  He became a partner in that firm in 1997.  Mr. Flack was a partner in Nickens, Keeton, Lawless, Farrell & Flack from its founding in 2002 to its acquisition by a national firm on January 1, 2011.  Mr. Flack practiced as The Law Office of Paul Flack from January 1, 2011 to January 1, 2013, when he and Reagan and Carmen Pratt formed Pratt & Flack, LLP.

Representative Cases

Enron Collapse. Part of team representing ten Enron officers, including the Chief Accounting Officer, Chief Risk Officer, and CEOs of Enron Broadband and Enron Europe in the storm of litigation and investigations surrounding Enron’s collapse.  His work included interfacing with criminal counsel and presenting witnesses for public testimony before the United States Congress.

R. Allen Stanford. Part of the first team to represent R. Allen Stanford in the civil, criminal, and regulatory investigations resulting from the collapse of Stanford Financial Group.

Class Actions. Represented investors, corporations, and officers and directors in securities and ERISA class actions and internal investigations involving major U.S. corporations, including a major defense contractor, and a U.S. airline retirement fund.

Arbitration Defense. Successfully defended a major brokerage firm in thirty securities arbitrations over the past decade.  Results included numerous favorable settlements, the most unfavorable award was only 16% of the amount sought (by a 71-year-old claimant), most awards were $0, and on at least one occasion client was awarded its fees incurred in defending the action.

Arbitration Claimant. Obtained a multimillion dollar settlement for a wealthy family defrauded by a major U.S. brokerage firm in connection with the sale of synthetic securities.

Arbitration Claimant. Obtained a multimillion dollar arbitration award against a major U.S. Brokerage firm for executors of the estate of an investor who purchased a fraudulent security.

Broker Arbitrations. Successfully defended individual investment professionals in numerous claims brought by investors and brokerage firms.

Breach of Fiduciary Duty. Successfully represented The President and Fellows of Harvard College in claims for breach of fiduciary duty arising from an interest in joint stock association bequeathed to the college.

Oil and Gas Corporate Acquisition. Represented an individual charged with fraud for failing to secure funding for acquisition of oil and gas exploration company.  Secured payment of all of client’s attorneys’ fees and expenses as part of settlement.

Employment Claims – Employee. Successfully represented an executive in securing compensation following termination of employment by major chemical manufacturer.

Employment Claims – Employer. Successfully represented a refinery services firm facing allegations of retaliation in connection with termination of executive.

Theft of Corporate Opportunity. Part of a team that obtained a $0 award in arbitration seeking more than $15 million for usurpation of corporate opportunity relating to biotechnology company.