Chicago Office of Kaye Scholer Brings On Four-Member Securities Litigation Group

Chicago: Kaye Scholer has brought on a four-member securities and financial services litigation group from Dewey & LeBoeuf in Chicago. Led by former Dewey Partner Alan Salpeter, who joins Kaye Scholer as Senior Counsel, the rest of the team consists of Counsels Therese King Nohos and Bryan Westhoff and Associate Ross H. Neihaus.

“The fallout from the 2008 meltdown and subsequent federal financial services and investment reforms continue to generate shareholder claims and other securities litigation matters, requiring that we significantly grow our practice to meet increased demand for robust defense counsel,” said Partner Vinny Sama, head of Kaye Scholer’s Securities & Derivatives Litigation practice and co-chair of the Firm’s Litigation Department. “Alan and the rest of his team help us fill that need on both a national and regional level and already represent many of the same clients that we do, which makes for a relatively painless transition process for those clients.”

Tyler Nurberg, Chicago Office Managing Partner, added, “We are delighted to have Alan, Therese, Bryan and Ross on board as part of the ongoing expansion of our Midwest capabilities.”

Salpeter has tried approximately 70 bench and jury trials and argued 20 appeals in federal and state courts throughout the country. He has particular experience relating to securities fraud and other kinds of class action lawsuits; contested tender offers; proxy contests; aborted business transactions and business failures; alleged breaches of fiduciary duty and negligence by corporate officers and directors and antitrust issues. He also has extensive arbitration and mediation experience. Recent matters include the successful representation of DeVry Inc. and two of its senior executives in a putative class action alleging a 10b-5 claim for which he obtained a dismissal; securing a favorable settlement for a French insurance company facing allegations of fraud arising out of the purchase of Executive Life Insurance Company; and the successful representation of Walgreens in two dismissals of a putative shareholder class action alleging a 10b-5 claim. Elected a fellow of the American College of Trial Lawyers in 2008, Salpeter is ranked in Chambers USA. Prior to his arrival at Dewey in 2007, Salpeter was a partner at Mayer Brown LLP where he served as co-head of that firm’s Litigation Department.

King Nohos litigates cases involving securities fraud and breach of fiduciary duty, including class action and derivative claims, involving the following industries: pharmaceuticals, IT and software technology, education, insurance, manufacturing and retail. Recent matters include the representation of CIBC in securities litigation and bankruptcy adversary proceedings related to the collapse of Global Crossing Ltd and the representation of Oracle Corporation, Larry Ellison and Jeff Henley in shareholder derivative and securities litigation arising from the company’s failure to meet earning projections. She also represented a private equity fund in post-acquisition claims of fraud and breach of contract against the former owners of international manufacturer and DeVry Inc. directors against shareholder derivative actions alleging breach of fiduciary duty.

Westhoff litigates a wide variety of complex domestic and international commercial law cases involving M&A, securities law, antitrust, intellectual property, insurance/reinsurance, environmental contamination, ERISA, and general contract and tort law. He has argued before multiple federal and state courts, including before the Ninth Circuit Court of Appeals. He has significant experience in expedited litigation, and has personally prepared and argued motions for preliminary injunction and a TRO. Westhoff’s recent major cases include the representation of Artemis S.A. and its affiliates against fraud claims seeking damages in excess of $1 billion arising out of the rehabilitation of Executive Life Insurance Company and representation of BP’s Savings and Pension Plans in breach of fiduciary duties claims against their ERISA Investment Manager for losses resulting from securities lending. He also represented American Airlines in litigation against a GDS related to American’s announced termination of Orbitz’s ticketing authority.

A graduate of Northwestern University of Law, Neihaus has represented clients in cases involving allegations of securities fraud, monopolization, price manipulations, breach of contract, misrepresentation and other business torts.