Representation of Financial Services Firm in FINRA Matters
Representation of a financial services firm in multiple arbitrations before the Financial Industry Regulatory Authority (FINRA) against former employees, obtaining awards against the employees on loans provided to them by the firm and denial of all counterclaims.
Counsel to Financial Institutions
Represented multiple financial institutions in real estate, construction, and working capital financing transactions, including lead negotiation and drafting of credit agreement, promissory note, mortgage, assignment of leases, security agreement, and other ancillary documents related thereto.
Sale of 37 Parcels – Cook County
Served as primary attorney for the simultaneous sale of 37 parcels of real estate in Cook County, Illinois for a bank client.
Representation of a financial services firm in multiple FINRA arbitrations resulting in awards in favor of the financial services firm.
Successful Settlement for National Financial Services Firm of ADA Claims
Lead trial counsel for national financial services firm in ADA lawsuit alleging failure to accommodate and disability discrimination. Multiple deposition admissions eviscerated plaintiff's claims and drove a cost effective nuisance value settlement, avoiding protracted litigation and attorney fees.
Outstanding Loan Claims Settled on Behalf of Financial Services Firm
Successfully negotiated a number of settlements of outstanding loan balances on behalf of a financial services firm, resulting in the payment of millions of dollars on the loans.
Non-solicitation and Trade Secrets
Successfully advised a financial services firm in connection with the hiring of various financial advisors to avoid litigation over violations of non-solicitation and trade secret provisions.
Successful Defense of Financial Institution and Award of Attorney's Fees
Successfully represented a financial institution and obtained dismissal with prejudice and award of attorneys' fees against customer who alleged negligence and fraud by allowing a rogue employee to cash checks and convert over $1MM of the customer's funds.
Counsel to Seller in Financial Institutions Merger
Represented seller in a merger of regional financial institutions, successfully coordinated shareholder disclosure and vote approving unreduced supplemental pension payments to seller's key executives. The approval exempted the payments from treatment as parachute payments for tax purposes. Without shareholder approval, the seller's key executives would have received significantly reduced benefits.
Successful Verdict for Bank Client
Obtained a verdict in favor of a banking client after a four-day trial in Alameda County, California, defeating the claim of the borrower who asserted that the bank's mortgage was invalid.
Financial Services Provider Wins $1.6MM on Counterclaim
Successfully obtained a $1.6MM judgment for a financial services provider client on its breach of contract counterclaim after two years of litigation in Ohio state court against a publicly traded plaintiff company that had initiated the lawsuit. The plaintiff was seeking to collect the remaining $1MM it claimed was due on a $20MM stock purchase agreement. The plaintiff received nothing on its claim, and our client obtained $1.6MM on its counterclaim.
Conducted an internal investigation on behalf of a large multinational bank in connection with a FINRA inquiry relating to fraudulent bond trading.
Merger of Bank Holding Company
Counsel to a publicly traded bank holding company in connection with a stock-for-stock merger with large regional financial services company. We were responsible for negotiating the merger agreement, preparing the proxy statement, counseling board and shareholders regarding the transaction, and preparing the employment and incentive arrangements for certain continuing employees.
Transfer Obtained for Financial Services Company
Represented a member of a financial services company in a tort action. We obtained transfer of the action based upon a forum selection clause. Morse v. Ten X Holdings, LLC, 2017 WL 4079264 (D. Nev. Sept. 13, 2017).
Dismissal Obtained in Securities Lawsuit
Obtained a dismissal with prejudice on behalf of a bank client of all claims brought by four plaintiffs who filed a multimillion-dollar securities lawsuit against the bank arising from their purchase of $7MM unsubordinated debentures.
$4.6MM Arbitration Award for Financial Services Firm
Represented a financial services firm in an arbitration against two former employees, obtaining an award of $4.6MM against the employees on loans provided to them by the firm and complete denial of their counterclaims.
Counsel for Initial Public Offering for Bank Holding Company
Counsel to an Illinois based bank holding company regarding their restructuring and initial public offering, which was followed by a sale, in a stock-for-stock merger, to a large regional financial services company. We were responsible for drafting the restructuring documents, drafting and filing Form S-1 for the IPO, drafting the Nasdaq listing application, 1934 Act filings after the IPO, and counseling board and executives through the public sale process.
Bank Recovers $2MM from Insurer on Embezzlement Action
Recovered the full amount of a bank client's nearly $2MM embezzlement loss from the client's fidelity bond insurer. The loss was sustained as a result of an employee who embezzled over a 17-year period. We obtained a full recovery, notwithstanding the insurer's arguments that our client's alleged negligence was a cause of the loss.
Bank Recovers Losses Suffered from Ponzi Scheme
Successfully represented a bank that sustained a major fraud loss of several million dollars as a result of a complicated Ponzi scheme. Despite repeated denials of coverage by the client's insurance carrier, we were able to obtain full reimbursement of our client's loss.
Successful Bankruptcy Court Decision on Behalf of Bank
Successfully represented a bank in the appeal of a bankruptcy court decision, which denied motion to dismiss the bankruptcy based on debtors' failure to adjust their lifestyle before filing bankruptcy.
Successful Defense of FLSA Collective Action Against Bank
Defended an FLSA collective action against a regional bank, alleging misclassification of mortgage loan underwriters.
Law Firm Liable to Bank for Conversion
Successfully represented a bank client and obtained a judgment against a law firm for conversion of the bank's collateral. The law firm's client (an advertising business) and the bank executed loans and security agreements that granted the bank a secured interest in various collateral in the event of default. At the time, the third-party checks payable to the advertising business were deposited in the law firm's IOLTA account, the bank's security interest had attached, due to cessation of business operations. The trial court held, and it was affirmed on appeal, that the law firm could not establish as a matter of law that it was a holder in due course of the checks, and therefore, the law firm was liable to the bank for conversion.
Successful Defense of Bank in ERISA Action
Defended a regional bank in an ERISA company stock drop class action, alleging that its stock was an imprudent 401(k) Plan investment during a certain time period.
Stock Compensation Plan for Financial Institution
Designed and implemented a stock compensation plan for a regional financial institution, successfully obtaining shareholder approval despite shareholder activist objections to the plan.
First Purchase of Bank by State Chartered Credit Union
Completed the first purchase of a bank by a state chartered credit union.
Representation of National Bank in Bankruptcy Matters
Represented a national bank in a wide variety of matters including a successful motion for appointment of a Chapter 11 Trustee over a marina, successful motions for appointment of receivers for various real property developments, and successful defense of a fraud claim in connection with a settlement placed on the record in state court.
First Purchase of Stock Owned Bank by Credit Union
Completed the first purchase of a stock owned bank by a credit union.
Lead Counsel to European Bank
Lead counsel to a European bank in the foreclosure upon, leasing, and subsequent $50MM sale of a luxury hotel/casino property located in Lake Las Vegas, NV (listed in the top 5 largest S. Nevada real estate deals in 2012).
Created new mechanisms for financial institutions to invest capital and grow.
First Purchase of Bank by Credit Union
Completed the first purchase of a bank by a credit union.
Obtained Consent Foreclosure Judgment
Favorably negotiated a settlement resulting in a Consent Foreclosure Judgment on behalf of a lender.
Slander of Title and Negligence Actions Dismissed
Achieved dismissal on behalf of a financial institution against a borrower's slander of title and negligence causes of action.
Representation of European Dairy Conglomerate During the Enron of Europe
Representation of trustee of a European dairy conglomerate in actions against major lenders and accounting firms, relating to fraud and illicit financing transactions that preceded its financial collapse, often referred to as the Enron of Europe.
$4.5MM+ Settlement for Land Owners/Developers
Represented land owners/developers and obtained a settlement in excess of $4.5MM in a dispute with a lender. We successfully took over representation of the client following dismissal of the matter for failure to state a claim in its second amended complaint, which was filed by another law firm. We filed a compelling third amended complaint that prompted the lender to settle.
Successful Defense of Sexual Harassment Claim
Represented a major financial institution where we obtained dismissal of a complicated sexual harassment claim. The dismissal was obtained immediately after the plaintiff's deposition was taken and damaging admissions were made by her as to her claims.
Represented a regional bank holding company in the conversion of common trust funds to proprietary mutual funds. Numerous ERISA compliance issues were presented, including regulators' assertion of prohibited transactions with respect to the common trust funds and to all retirement plan investments. In addition to the successful conversion, regulatory agencies withdrew all assertions of prohibited transactions.