Our Attorneys

Mark E. Maddox

Mark E. Maddox founded the law firm of Maddox Hargett & Caruso, P.C. in 1991. Since then, he has provided legal counsel to hundreds of individuals on issues involving consumer fraud.

Prior to establishing his private practice, Maddox served as the Securities Commissioner for the State of Indiana, as well as the Chairperson of the International Enforcement Committee of the North American Securities Administrators Association. While serving as Indiana's Securities Commissioner, Maddox also was appointed to to Indiana Governor's Initiative on Economic Development Policy Panel.

In 1998 and 2000, Maddox held the position of president for the Public Investors Arbitration Bar Association (PIABA) and was a member of PIABA's board of directors from 1994 to 2002. Maddox also served on the NASD National Arbitration and Mediation Committee (NAMC) from 1996 through 1998 and again from 2002 through 2005. In 2004-2005, Maddox became the first member of the investor bar to be appointed as NAMC's Chairman.

Maddox is a member of the Public Arbitration Panel of the Financial Industry Regulatory Association, the Indianapolis Bar Association and the Indiana State Bar Association. From 2002 -2009, Maddox was selected by his peers as an “Indiana Super Lawyer.”

Maddox also is a frequent lecturer for Continuing Legal Education on Securities Law, as well as an avid speaker.

Education

• B.A. Magna Cum Laude - Wabash College, 1983
• J.D. - Vanderbilt University School of Law, 1986

Bar Admissions

• Indiana State Bar, 1986
• Illinois State Bar, 2000
• U.S. Supreme Court, 1995

Publications

As a consumer fraud and securities arbitration and litigation expert, Maddox is frequently quoted by the local and national media. His comments have appeared in such publications as The New York Times, The Wall Street Journal, Los Angeles Times, Washington Post, Business Week, Boston Herald, Indianapolis Business Journal, Indianapolis Star, Indianapolis News, USA Today, Securities Week, Newsday, Investment News, Indiana Lawyer, Money Magazine, Registered Representative Magazine, Compliance Reporter, Seattle Times, Chicago Tribune, Dow Jones Newswires, The Street.com, SmartMoney and BusinessWeek.

Thomas A. Hargett

The legal community lost a valued friend and colleague on June 27, 2011, with the passing of Thomas A. Hargett, a senior partner in Maddox Hargett & Caruso, P.C.

Born and raised in Evansville, Indiana, Hargett graduated from Central High School in Evansville in 1976 and later received his bachelor's of science degree from Indiana University Kelley School of Business in 1980. In 1983, Hargett received an M.B.A. from Northwestern University's J.L. Kellogg Graduate School of Management. For 12 years, he held various positions in the brokerage industry. He graduated from Indiana University School of Law in 1994.

Hargett made national headlines in 2002 after successfully representing investors from Marion, Ohio, in their lawsuit against Prudential Securities. Following a five-week jury trial, Hargett's clients were awarded $11.6 million in compensatory damages. The Ohio court also ruled that Prudential had to pay $250 million in punitive damages—a decision that is believed to be the largest jury verdict ever in a U.S. securities class-action suit. The matter eventually settled after the punitive damages were reduced on appeal.

Hargett served as a fellow in the Litigation Counsel of America and the Trial Lawyer Honorary Society. From 2005 to 2009, he was selected by his peers as an “Indiana Super Lawyer.” Hargett also was a member of the Arbitration Panels of National Association of Securities Dealers and the Public Investors Arbitration Bar Association, where he served on the Federal Legislation Committee.

Hargett's professional work ethic was only exceeded by his dedication to community service. Among his many charitable contributions, Hargett served as a board member and president of the Indiana University Sigma Nu Housing Corporation, where he organized numerous events around the issue of alcohol abuse. In 2010, he received the Herman B. Wells Alumni Leadership Award and was inducted into the Sigma Nu Beta Eta Chapter's Hall of Honor. He also was honored by the National Fraternity as its Housing Corporation President of the Year.

Hargett also spearheaded a student-led community service program at Sigma Nu, the results of which allowed students to give up their summer jobs and take on responsibilities within their local communities.

Hargett was an avid volunteer and president-elect of the Indiana Children's Wish Fund. His history with the organization began in 2007, when he successfully represented the Indiana Children's Wish Fund in a legal case over the misrepresentation of investments. Hargett provided his legal services pro bono. In October 2010, Hargett was the recipient of the Meagan Skinner Award in recognition of his years of community service to ICWF.

In 2008, Hargett was diagnosed with melanoma cancer. While he has lost his battle to the disease, Hargett's personal and professional contributions will continue to live on forever. Hargett leaves behind his beloved wife, Denise, and two young children, Erin and Isaac.

Education

• B.A. - Indiana University, 1980
• M.B.A. - Northwestern University, J.L. Kellogg School of Management, 1983
• J.D. - Indiana University, School of Law, 1994

Bar Admissions

• Indiana State Bar, 1994
• U.S. Federal District Court, Northern District of Indiana, 1994
• U.S. Federal District Court, Southern District of Indiana, 1994
• U.S. Court of Appeals, Second Circuit, 2000

Publications

Mr. Hargett was a well known speaker and lecturer on securities-related topics. His experience in securities arbitration and class action litigation resulted in feature articles in the Wall Street Journal, The New York Times, Newsweek, Business Week, Indianapolis Business Journal, Pittsburgh Tribune Review, Indiana Lawyer, Indianapolis Star, The Memphis Daily News, Marion Ohio Star, Street Talk, Associated Press, Boston Globe, Newsday, Indianapolis CEO, Cincinnati Enquirer, Cincinnati Post, San Mateo County Times, Palm Beach Post, YahooFinance.com, PrimeNewswire, Dow Jones Business News, TheStreet.com, and he appeared on CNN Financial.

Steven B. Caruso

Steven B. Caruso, the resident partner in the New York City office of Maddox Hargett & Caruso, P.C., has concentrated his practice on the representation of public investors in securities arbitration and litigation proceedings since the firm was founded in 1991.

Prior to joining Maddox Hargett & Caruso, Mr. Caruso was associated with several brokerage firms in the securities industry and was engaged in the private practice of securities law, which concentrated on providing representation in securities arbitration and litigation matters. His prior securities-related positions include having served as General Counsel for a national brokerage firm with approximately 500 institutional and retail account executives in 15 branch offices; Managing Director of Corporate Finance and Investment Banking for a national brokerage firm with approximately 900 institutional and retail account executives in 33 branch offices; and Chairman of the Board of Directors of an Underwriter of an open-ended investment management company.

Professional Recognitions

In June 2011, Mr. Caruso was nominated to serve as a public member of the Nasdaq OMX BX Arbitration Committee, which is the advisory group that provides recommendations on rules, regulations and procedures governing arbitrations, mediations and dispute resolution for the Nasdaq and Boston Stock Exchanges.

In February 2011, Mr. Caruso was named Chairman of the National Arbitration and Mediation Committee (NAMC) of the Financial Industry & Regulatory Authority (FINRA) which is the advisory group that provides recommendations on rules, regulations and procedures governing arbitrations, mediations and dispute resolution. He has been a public member of the NAMC since February 2009.

In September 2010, Mr. Caruso testified before the U.S. House of Representatives, Committee on Financial Services, Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises, at the hearing entitled “Assessing the Limitations of the Securities Investor Protection Act.”

In June 2010, Mr. Caruso was nominated to serve as a member of the Securities Investor Protection Corporation (SIPC) Modernization Task Force which is a task force that was convened, at the recommendation of the U.S. Congress, to review the mission and operations of SIPC so as to provide recommendations to SIPC's Board of Directors for legislative changes and other potential reforms to protect investors and reinforce confidence in the capital markets.

In August 2007, Mr. Caruso was recognized as one of the “Top Ten to Watch,” by the Board of Editors of Registered Rep Magazine, as an individual who will impact the major trends and issues in the financial services industry in the coming years.

In October 2007, Mr. Caruso completed his term as President of the Public Investors Arbitration Bar Association, a national organization of lawyers who represent investors in securities arbitration and litigation proceedings, and has served as a member of its Board of Directors since 2002.

Mr. Caruso has been quoted extensively in media outlets including: The Wall Street Journal, The New York Times, Washington Post, CNN, Fox News, Newsweek Magazine, Securities Week, Newsday, Bloomberg Television, Bloomberg News, PBS Nightly Business Report, Dow Jones Newswire, Reuters, Institutional Investor, Investment News, Businessweek Magazine, Canadian Broadcasting Corporation, Baltimore Sun, Boston Herald, Los Angeles Times, Crain's New York, Associated Press Television, TheStreet.com, CBS Marketwatch, National Public Radio, ADR World.com, Registered Rep Magazine, Mortgage Risk Magazine, Financial News Online, Investment Advisor Magazine, Financial Advisor Magazine, Individual Investor Magazine, and Online Investor Magazine.

Mr. Caruso is a member of the New York City Bar Association, the American Bar Association (Section of Business Law, Securities Law Litigation Subcommittee), the Public Investors Arbitration Bar Association, and previously served as a National Association of Securities Dealers arbitrator.

Bar Admissions

• New York State Bar, 1981
• U.S. Supreme Court, 2003
• U.S. Court of Appeals, Second Circuit, 2000
• U.S. Federal District Court, Southern District of New York, 1981
• U.S. Federal District Court, Eastern District of New York, 1981
• U.S. Tax Court, 1981

Publications

• Arbitrator Challenges Under the FINRA Code of Arbitration Procedure for Customer Disputes, Practising Law Institute, Securities Arbitration 2010

• The Mandatory Industry Arbitrator: An Endangered Species on the Precipice of Extinction, Practising Law Institute, Securities Arbitration 2009

• Sunshine May be the Best Disinfectant for What Ails Securities Arbitration: A Discussion of the 2008 SICA Empirical Study of Fairness, Practising Law Institute, Securities Arbitration 2008

• Effective Closing Statements From the Perspective of Counsel for the Customer-Claimant, New York State Bar Association, Securities Arbitration 2007

• Essential Principles for Honorable Arbitrators, Practising Law Institute, Securities Arbitration 2007

• Motions to Dismiss: A Predatory Tactic That Must be Extinguished, Association of the Bar of the City of New York, New York, N.Y. 2007

• Ethical Standards for Securities Arbitrators: A Statistical Perspective of Potential Partiality (Bias), Practising Law Institute, Securities Arbitration 2006

• Arbitrator Training in the Securities Dispute Arena, The Review of Securities & Commodities Regulation 2005

• Discovery Objections Which are Irrelevant, Unduly Burdensome and are Reasonably Calculated to Lead to the Concealment of Admissible Evidence, New York State Bar Association, Securities Arbitration 2004

• Mutual Funds: Trends, Discovery, Abuses & Exhibits, Public Investors Arbitration Bar Association, Bonita Springs, Florida 2004

• Model Arbitrator Instructions: Luxury or Emerging Necessity, Practising Law Institute, Securities Arbitration 2004

• Ethical Considerations in Settlement Agreements, Association of the Bar of the City of New York, New York, N.Y. 2004

• Examination of the Adverse Broker: Unimpeachable Questions with an Internet Twist, Practising Law Institute, Securities Arbitration 2001

Speaking Engagements

• Arbitrator Selection & Challenges, Practising Law Institute, Securities Arbitration, New York, N.Y. 2010

• Arbitration Case Trends, FINRA Annual Conference, Baltimore, MD 2010

• Securities Arbitration - Practitioners' Perspectives on the System, American Bar Association, New York, N.Y. 2008

• Hot Topics & Recent Changes in Securities Arbitration, American Bar Association, New York, N.Y. 2008

• Effective Closing Statements From the Perspective of Counsel for the Customer-Claimant, New York State Bar Association, Securities Arbitration 2007, New York, N.Y. 2007

• Securities Arbitration Strategies, St. John's University School of Law, Queens, New York 2007

• Essential Principles for Honorable Arbitrators, Practising Law Institute, Securities Arbitration, New York, N.Y. 2007

• Hot Topics in Securities Arbitration and Mediation, Association of the Bar of the City of New York, New York, N.Y. 2007

• Hot Topics in Securities Arbitration and Mediation, Association of the Bar of the City of New York, New York, N.Y. 2005.

• Discovery in Securities Arbitration Proceedings, New York State Bar Association, Securities Arbitration 2004, New York, N.Y. October 2004

• Mutual Funds: Trends, Discovery, Abuses & Exhibits, Public Investors Arbitration Bar Association, Bonita Springs, Florida 2004

• Model Arbitrator Instructions, Practising Law Institute, Securities Arbitration, New York, N.Y. 2004

• Ethical Considerations in Settlement Agreements, Association of the Bar of the City of New York, New York, N.Y. 2004

• Uniform Prudent Investor Act, Public Investors Arbitration Bar Association, La Quinta, California 2003

• Trade Execution and Order Execution, Public Investors Arbitration Bar Association, Amelia Island, Florida 2001

• Discount Brokers and On-Line Trading Cases, Public Investors Arbitration Bar Association, San Antonio, Texas 2000

Education

• B.A. — American University, 1977
• J.D. — Hofstra University, School of Law, 1980