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Vedder Thinking | News Vedder Price Obtains Complete Defense Verdict for Client Charged in Alleged $245 Million Securities and Accounting Fraud Matter

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Vedder Price is pleased to announce that after a two and a half week trial, a jury sitting in the United States District Court for the Eastern District of Wisconsin has acquitted firm client Mark Wogsland of all criminal charges brought against him by the United States Department of Justice in connection with an alleged $245 million securities and accounting fraud scheme.

The Department of Justice had alleged that Mr. Wogsland and his codefendants, former accounting executives of a publicly traded logistics company, Roadrunner Transportation Systems, participated in a complex securities and accounting fraud scheme that allegedly resulted in hundreds of millions of dollars in losses to shareholders. Prosecutors had charged Mr. Wogsland with 14 counts, including conspiracy, securities fraud, wire fraud, misleading Roadrunner’s outside auditors, falsifying the books and records of the company, and insider trading. The jury’s verdict finding Mr. Wogsland not guilty on every count clears him of all charges in the case. Vedder Price represented Mr. Wogsland throughout the criminal litigation, which has spanned more than three years and involved more than nine million pages of discovery produced by the Department of Justice.

Mr. Wogsland was represented throughout the litigation and at trial by a Vedder Price team led by Shareholder Ryan S. Hedges, a seasoned trial lawyer and former federal prosecutor who routinely represents companies and individuals in sensitive and high-profile matters involving the Department of Justice and Securities and Exchange Commission, among other government agencies. Commenting on the jury’s decision, Mr. Hedges stated, “We appreciate that the jury carefully considered the evidence, followed the court’s instructions on the law and entered their verdict acquitting Mark of each and every count in the case. This litigation was long and hard fought, and we and our client are extremely pleased with the outcome.”

Mr. Hedges was assisted throughout the trial by his fellow Shareholders Thomas P. Cimino, Jr. and Junaid A. Zubairi and Associates Jonathon P. Reinisch and Brooke E. Conner. “This outstanding result is due in no small part to both Ryan’s incredible ability to simplify complex accounting issues for the jury and his constant focus on highlighting the flaws and inconsistencies in the government’s case,”  noted Mr. Cimino, Chair of Vedder Price’s Litigation practice area. “I am incredibly proud of Ryan, Jonathon and every member of our team who worked tirelessly to achieve this result.”

“This outcome underscores our group’s significant bench strength and ability to successfully represent clients in all stages of contentious government investigations and litigation,” added Mr. Zubairi, Chair of the firm’s Government Investigations & White Collar Defense group. “Our victory at trial is the result of a great deal of effort and strategic thought throughout the investigation and litigation process. Ryan and our team really put on a masterclass at trial. I would take him in a courtroom against any trial lawyer in the country.”


Thomas P. Cimino, Jr.


Ryan S. Hedges


Junaid A. Zubairi


Brooke E. Conner


Jonathon P. Reinisch