Matters

Pharmaceutical Company – Dismissal from Consumer Fraud Class Action

Herrick secured a significant win for a pharmaceutical company in a New Jersey federal court ruling dismissing our client from a putative class action for failure to state a claim. The wide-ranging lawsuit involved allegations concerning alleged violations of consumer fraud laws in the marketing of product.

Commercial Lenders – Defense of Conversion, Unjust Enrichment and Fraud Claims

Defense of commercial lenders in litigation filed in New York state court by a former employee alleging our clients wrongfully retained certain funds belonging to the plaintiff. This action, which involves related litigation filed in China and Singapore, includes claims for fraud, conversion, conspiracy to commit fraud, breach of fiduciary duty and breach of article 4 of the UCC Code. We currently are awaiting a ruling on our December 2014 motion to dismiss, in which we argue that the lawsuit is time barred and fails to state a cause of action.

Real Estate Investment Fund – Action to Foreclose on $39.5 Million Mortgage Secured by New Jersey Office Building

Herrick delivered a series of important victories on behalf of a real estate investment joint venture in hard fought litigation to foreclose on a $39.5 million mortgage secured by an Edison, New Jersey office building. After obtaining rulings that struck or dismissed all of the defendant debtors’ affirmative defenses and the majority of their counterclaims and third-party claims, the firm won the appointment of a special fiscal agent to oversee the receipt and disbursement of all future revenue from the building as well as an order requiring the return of all misappropriated funds. In the wake of these successes, the parties were able to reach a settlement on extremely favorable terms for the client.

Multinational Food & Beverage Company – Successful Defense in New Jersey Franchise Practices Litigation

Successfully defended the U.S. affiliate of a multinational food & beverage company sued in New Jersey federal court by a distributor alleging violation of the state's Franchise Practices Act. In both the district court and on appeal to the Third Circuit, Herrick delivered key victories in opposing the plaintiff's efforts to secure an injunction preventing our client from effecting its contractual right not to renew an exclusive distribution agreement between the parties. In the district court, we obtained rulings partially dismissing the complaint, denying plaintiff's motion for a preliminary injunction, and denying plaintiff's motion for an injunction pending its appeal to the U.S. Court of Appeals for the Third Circuit. Following expedited briefing, the appellate court found in our client's favor, affirming the district court's rulings. In light of these developments, the parties ultimately reached a settlement and stipulated to the dismissal of this litigation.

Property Buyers – Appellate Victory in Specific Performance Dispute

Herrick secured an appellate victory in the Superior Court of New Jersey, Appellate Division on behalf of the buyers of a multi-million dollar custom-built home whose specific performance claim against a contractor who had deviated from the contracted plans had been dismissed by the trial court. The appellate court reversed, directing the trial court to order specific performance with an escrow to be established at closing to cover any damages. Herrick continues to represent the clients in litigating their damage claims.

Special Servicer – Motion for Summary Judgment Granted, Lender Liability and Breach of Good Faith Claims Dismissed

Successful defense of the special servicer of an $18 million loan secured by a Parsippany, New Jersey hotel property against the debtor's claims of fraud, lender liability and breach of good faith. In December 2014, the court granted our motion for summary judgment, dismissing all claims against our client.