Gary S. Winemaster’s Fraud Lawsuit

Latham & Watkins assisted Mr. Winemaster in the SEC’s matter.

On June 24, 2022, the federal district court in Chicago approved an unusual settlement in which the US Securities and Exchange Commission (SEC) voluntarily agreed to drop all of its allegations of fraud against Gary S. Winemaster, the founder and former CEO of Power Solutions International, Inc. as part of the resolution of its action against Mr. Winemaster. The SEC and Mr. Winemaster resolved the two remaining counts on a no-admit, no-deny basis. The settlement comes on the heels of Mr. Winemaster’s full acquittal, in September 2021, after a trial on related criminal charges brought by the US Department of Justice (DOJ). The SEC settlement officially terminates the alleged fraud cases that the DOJ and SEC filed against Mr. Winemaster in July 2019.

Following this settlement, there are no pending charges against Mr. Winemaster for any actions related to his work at PSI. The settlement imposes no restrictions on Mr. Winemaster’s ability to work in any capacity at any public company.

The Latham & Watkins team was led by counsel John Sikora (Picture), and  included partners Sean Berkowitz, Eric Swibel, and Heather Waller, and associates Jack McNeily, Adam Rosenbloom, Kirsten Lee, Linda Qiu, and Sydney Black.

Involved fees earner: Sean Berkowitz – Latham & Watkins; Sydney Black – Latham & Watkins; Kirsten Lee – Latham & Watkins; Jack McNeily – Latham & Watkins; Linda Qiu – Latham & Watkins; Adam Rosenbloom – Latham & Watkins; John Sikora Jr. – Latham & Watkins; Eric Swibel – Latham & Watkins; Heather Waller – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: Winemaster Gary;