Terence M. Grugan

Partner
Philadelphia

Terence M. Grugan is an experienced civil litigator, investigator and trial attorney. His practice consists of representing clients in investigations and litigation implicating compliance with and enforcement of government regulations, principally the Bank Secrecy Act (BSA) and related regulations and securities laws. In addition, he regularly represents clients in corporate governance and shareholder disputes. He is a frequent writer and speaker on issues of compliance and enforcement.

Terence is co-leader of the Firm’s Anti-Money Laundering (AML) practice team. In his AML practice, Terence represents financial institutions in matters implicating their practice under the BSA and related AML laws, including compliance program advice, internal investigations, regulatory examinations, and related civil litigation. Terence has represented national banks in civil litigation relating to account holders engaged in Ponzi, securities fraud and consumer fraud schemes. He has also conducted due diligence on entities’ compliance with applicable BSA and AML laws.

Experience 

Representative Matters

Anti-Money Laundering

  • Successfully defended large national bank in complex civil litigations alleging fraud and BSA/AML policy violations in connection with account-holders’ Ponzi and consumer fraud schemes
  • Advised national retailer on BSA/AML compliance in connection with credit program
  • Represented buyer conducting BSA due diligence in connection with potential business acquisition

White Collar Defense/Internal Investigations

  • Conducted internal investigation on behalf of the Philadelphia City Controller into the City of Philadelphia’s response to civil unrest following the murder of George Floyd
  • Represented law firm subject to audit and investigation in connection with the submission of claims to the National Football League Concussion Settlement Program
  • Advised clients in connection with submissions of fraudulent Pandemic Unemployment claims

Securities Enforcement and Corporate Governance Litigation

  • Successfully represented hedge fund in five-week AAA arbitration brought to recover $26 million investment
  • Successfully represented a large investment firm in a three-week FINRA arbitration involving claims of unsuitable investments and professional negligence
  • Represented officers and directors in Delaware Chancery proceedings alleging breach of fiduciary duties

Additional Representative Matters

  • Successfully represented Delaware County, Pennsylvania in multiple lawsuits in state and federal court alleging voting and election irregularities in the 2020 Presidential election
  • Successfully represented a national charter school management company in a lawsuit seeking remittance of unpaid fees
  • Represented international corporation in civil action alleging breach of product warranties
  • Represent national company in lawsuit alleging price fixing and other antitrust violations

Professional Highlights

Pro Bono Experience

Terence has performed extensive pro bono work. He is the co-founder of the Ballard Academy for Student Entrepreneurs (BASE), a nationally-recognized student-based accelerator. Terence has also represented clients in landlord-tenant disputes in Pennsylvania state court and before Philadelphia arbitration panels. He also regularly accepts appointments to represent criminal defendants in federal court in the Eastern District of Pennsylvania through the CJA Panel. Finally, he is a member of the board of directors of New Leash on Life USA, a Philadelphia prison dog-training and prisoner re-entry organization.

Judicial Clerkships

Hon. Timothy J. Savage, U.S. District Court for the Eastern District of Pennsylvania

Professional Activities

National Association of Criminal Defense Lawyers

Temple American Inn of Court

Philadelphia Chamber of Commerce Young Professionals Network

Philadelphia Bar Association

Recognition & Accomplishments

"40 Under 40," Philadelphia Business Journal, 2021

Speaking Engagements

Speaker, "Future of BSA: Legislative Proposals, Regulatory Developments, and PPP Lending webinar," Credit Union National Association, November 23, 2020

Speaker, "Trends in Financial Litigation," Pennsylvania Department of Banking and Securities Meeting, Harrisburg, PA, September 18, 2019

Speaker, "Anti-Money Laundering and the Securities Industry," North American Securities Administration Association, September 12, 2018

Board Memberships & Community Service

New Leash on Life USA

Credentials 

Education

Temple University James E. Beasley School of Law (J.D., cum laude, 2009)
Member, Temple Law Review

La Salle University (B.A. 2003)

Admissions

Pennsylvania