Securities / Finance Cases

Obtained dismissal of an investor’s claims that our client, a corporation headquartered outside the United States, defaulted on the payment of certain Euro Commercial Paper. The commercial paper (bonds) was issued in Europe by our client and was to be sold exclusively outside the United States. We contested the court’s jurisdiction, on behalf of our client. We then initiated limited discovery, taking the plaintiff’s deposition and issuing subpoenas to the financial institutions involved in the plaintiff’s alleged transactions of the commercial paper. Shortly after that, the plaintiff agreed to dismiss his case.
Winning a $14.5 million arbitration award on behalf of a New York family against Prudential Equity Group over the course of 84 hearing sessions occurring at the New York Stock Exchange. According to The Wall Street Journal, the award is the third largest award to be handed out by an arbitration panel at the NYSE.
Winning a six-figure arbitration award for an elderly couple from East Texas whose life savings were diminished by their broker. Our claims against the Beaumont-based broker and his firm included unsuitability, negligence, failure to supervise, misrepresentation, breach of contract and breach of fiduciary duty.
Negotiating a seven-figure settlement against a national stock brokerage firm for a married couple in Philadelphia whose life savings was lost when a broker churned their account and used their savings to buy speculative technology and internet stocks. We also made claims against the brokerage firm for failing to properly supervise its brokers and failing to notify the customers about the inappropriate handling of their account.
Collecting over $500,000 for a company who lost that amount in its corporate money market fund when the national brokerage firm managing the fund invested the money in the short-term commercial paper of Pacific Gas & Electric Company.
Winning a $429.5 million arbitration award, the largest in history, against a former PaineWebber broker. The Wall Street Journal noted that the size of the award was "roughly 10 times that of the next largest award." The United States Attorney’s office criminally prosecuted one of the PaineWebber brokers involved in the fraud. That broker had worked in PaineWebber’s New York headquarters office. The broker was sentenced to six and a half years in federal prison; he is currently serving that sentence.
Winning the dismissal of 21 consolidated class action lawsuits filed in federal court against former officers of a NYSE-listed client alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder.
Winning an eight-figure settlement, a record amount in a case of this type, on behalf of several investors who were defrauded by one of the United States' largest national brokerage firms.
Representing an Illinois-based utility company in litigation against distressed bondholders seeking recovery following an $80 million bond default for an electric power facility located outside of Chicago. This was the "eighth largest municipal bond default in the history of the municipal market," according to the Bond Investors Association.
Successfully defending the second largest death care company against a $4 billion hostile takeover bid by SCI, the death care industry's largest company. The case involved securities, tort, and antitrust litigation. 1997-1 Trade Cases ¶ 71,688 (S.D. Tx.).