Financial Services Litigation

Experience Highlights

• Visa in numerous actions, including nationwide putative class actions challenging the default interchange fees set in the Visa (and MasterCard) systems as well as other system rules.

• AIG affiliates in a significant win in the Sixth Circuit reversing a district court's summary judgment, ruling that AIG's professional liability policies did not cover Huntington National Bank's purported Ponzi scheme losses.

• Aegis Capital Corp., its CEO, and former employees, in multiple state and federal class actions arising out of the IPO of YayYo, Inc. The court granted final approval of a settlement that will resolve all claims against Aegis capital.

• New York Community Bancorp in a victory in a Department of Labor, Office of Administrative Law Judges administrative proceeding involving Sarbanes-Oxley whistleblower claims that was upheld by the Administrative Review Board and Second Circuit.

• Special Committee of the Board of Directors of Western Union as independent counsel charged with reviewing and investigating shareholder demand letters alleging breaches of directors’ and officers’ duty to oversee anti-money laundering and fraud compliance related to the cross-border transfer of fund.

• JPMorgan Chase in successful defense and appeal of Sarbanes-Oxley whistleblower case.

• National Union Fire Insurance Company of Pittsburgh, Pa. in securing a major victory in the Delaware Supreme Court, reversing a $118.5 million judgment against National Union and several other insurers.

• Sunstone Credit in federal trade secret litigation in the Southern District of New York, successfully defeating a burdensome preliminary injunction and securing a favorable stipulated order.

• New York-based financial institution in defending claims that it failed to prevent a customer’s scam that led a business owner to transfer millions to the scammer’s account, with the case addressing banks’ obligations under federal and state law to protect noncustomers from fraud.