industries
Financial Services and Insurance
We bring critical financial, business, valuation and industry expertise to litigations, investigations and business negotiations for clients in financial services and insurance.
We represent a full range of executives, producers, and businesses across the financial services and insurance industries and value chain: investment firms, hedge funds, broker-dealers, lenders, leasing businesses, investors, senior executives, traders and producers, partners, insureds and insurance companies.
Our representations include: litigation and arbitration of financial industry claims, including compensation and termination; negotiating of agreements including employment agreements, severance agreements, operating and partnership agreements; representing insureds and insurance companies in coverage disputes; defending individuals and companies against SEC and other government investigations; and representing investors and investment funds in negotiations, litigations and arbitrations.
REPRESENTATIVE MATTERS AND CLIENTS INCLUDE:
Winning a $61 million FINRA arbitration award for a hedge fund against a major international bank relating to the settlement of a complex hedge fund-based derivative product.
An award of $23.3 million (including over $1 million in attorneys’ fees and costs) for a jettisoned Portfolio Manager of a large asset management firm based upon a finding that the firm had no “Cause” to terminate and that the Portfolio Manager had not possessed and/or failed to escalate to compliance potential material non-public information.
An award of $14.08 million plus denial of a $2 million counterclaim, in favor of three Merrill Lynch financial advisors wrongfully terminated for cause and defamed on their regulatory records (Forms U-5, which were ordered amended), as their trading activities were proven to be known to and endorsed by Merrill Lynch despite the firm’s contrary position with the SEC.
An award of $6.8 million to a financial advisor wrongfully terminated by Wells Fargo/Wachovia Securities, including $1 million in punitive damages and attorneys’ fees, and an expunged regulatory record.
A FINRA award for two former employees of BNP Paribas Securities Corp. of nearly $7 million (representing bonus and deferred compensation and costs) plus interest, following 43 days of hearing spanning nearly two years (reported to be the largest FINRA intra-industry award to an employee or employees in 2017).
An award of $3.8 million in deferred compensation to a senior equity analyst employed by a multi-billion hedge fund terminated for allegedly not disclosing to compliance that he may have possessed material non-public information; employee asserted that he possessed no such information, his conduct was transparent, and that late year termination was implemented to escape paying him his previously earned wage during a difficult period for the fund.
An award over $3.3 million for an executive recruiter of day traders, employed by a public company with an electronic trading platform, based on misrepresentations made by the company that damaged irreparably the recruiter’s reputation and career.
A seven figure settlement of claims brought by a former employee of an international investment bank for, among other things, unpaid deferred compensation.
A seven figure award for McGraw-Hill against its insurance carrier, ordering coverage for a series of copyright infringement claims
A major mortgage servicer in claims seeking indemnification under mortgage servicing purchase agreements.
The Chief Investment Officer of a $300 billion insurer in an SEC investigation.
The US CEO of an international brokerage firm in an SEC investigation and civil action in New York charging violations of the Investment Advisors Act.
The lead investor for a $50 million seed investment into a start-up hedge fund.
The founder of a joint venture with a Fortune 500 company in an action that hinged on the valuation of the joint venture.
Over 600 Wells Fargo financial advisors in a class-action against Wells Fargo
A leading financial consulting firm in a series of cases to enforce its restrictive covenants against former employees.
A family office in an arbitration relating to the purchases of preferred securities of Lehman Bros and of auction rate securities.
Leading financial advisors, and hedge fund in cases arising out of mutual fund market timing.