RESULTS
HSW has a history of performance in litigations, arbitration and trials for plaintiffs and defendants.* Example results include:
COMMERCIAL
$61 Million FINRA AWARD
Won a $61 million award for a hedge fund, Aurum STS Aggressive Trading LLC, against Societe Generale in a FINRA arbitration involving settlement of a complex derivative instrument. Sixth largest securities arbitration award ever awarded according to Securities Arbitration Commentator. (FINRA San Francisco, Case No. 09-03598)
$21.8 MILLION FEDERAL JURY VERDICT
Won a $20.5 million federal jury verdict that our client, The Learning Annex, was wrongfully cut out of a business deal. The trial court, shocked by the size of the verdict, ordered a retrial on damages. The defendant retained one of the nation’s most prominent trial defense firms. On retrial, we won a larger jury verdict of $21.8 million. (Learning Annex v. Rich Global, SDNY, Case No. 09-CV-4432)
DISMISSAL OF DEFAMATION AND FRAUD CLAIMS
Won dismissal of all claims against Patreon, the preeminent platform for membership content services, in an online defamation and fraud case.
EMPLOYMENT
$23.3 Million Award for portfolio manager
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; the firm’s efforts to distance itself from the employee for fear that he might be indicted (which did not happen) did not excuse their conduct and obligation to pay.
$14.08 Million AWARD AGAINST MERRILL LYNCH
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.
$6.9 MILLION AWARD AGAINST WELLS FARGO
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.
3.9 MILLION CLASS ACTION SEttLEMENT
Co-class counsel in representing over 600 Wells Fargo financial advisors in a dispute concerning novel issues of misclassification under the FLSA and NYLL. We reached a favorable early-stage class settlement of $3.9 million.
ENFORCEMENT OF RESTRICTIVE COVENANTS
Won dismissal of all claims against Honeywell in an employment dispute relating to the enforceability of Honeywell's restrictive covenants in an agreement with a senior executive.
CRIMINAL & REGULATORY
EXONERATION ON SEC CHARGES
Defeated all fraud charges brought by the SEC against a prominent investment advisor, following a month-long federal jury trial. Remaining allegations of negligence dismissed on appeal for a complete exoneration. (SEC v. O’Meally, SDNY, 2011, Case No. 06-CV-6483) (SEC v. O’Meally, Second Circuit, 2014, Case No. 13-1116).
AWARD OF ADVANCEMENT
Obtained arbitral award ordering the advancement of legal fees for the US based CEO of an international investment advisor charged by the SEC with violations of the Investment Advisors Act (Award)
CRIMINAL CHARGES DISMISSED BY PROSECUTION PRIOR TO TRIAL
After filing a federal criminal complaint for money laundering and tax evasion, the United States Attorney’s Office for the District of Massachusetts dismissed all charges against our client following our presentation to senior officials in that office, IRS agents, and Department of Justice prosecutors.
*We are only as good as our next case. Prior results do not guarantee a similar outcome.