Investment Bank – Restrictive Covenant Dispute
Represented a boutique investment bank in the pre-litigation resolution of a dispute with two former executives believed to have breached their employment agreements by misappropriating confidential information and soliciting clients after resigning their positions at the firm to join a direct competitor.
Inter-Dealer Brokerage Firm – $500 Million Raiding Case
Represented the affiliate of a billion-dollar inter-dealer brokerage firm in a large "key employee raiding case" brought by a competitor whose stock market valuation declined 24% (approximately $450 million) on the day following our client’s hire of approximately 20 of its credit derivatives brokers and employees. Following an intense oral argument by Herrick and other firms aligned with our client, a New York Supreme Court denied the plaintiff’s motion for a temporary restraining order and later denied a motion for preliminary injunction in rulings which allowed the subject employees to work for our client. The dispute then moved to a FINRA arbitration where we defended hundreds of millions of dollars in claims. After more than 240 hearing sessions, the matter was fully settled and all claims withdrawn.
DataTreasury Corp. – $100 Million Dispute with Former COO
Successful defense of DataTreasury Corp. in a 41-day bench trial arising from claims by the company's former Chief Operating Officer that he was entitled to exercise certain stock options granted to him during his tenure. We helped obtain a decision dismissing all of the former executive's claims, based on his disloyal conduct in trying to usurp business opportunities coupled with his failure to properly exercise the options, defeated the plaintiff's multiple post-trial motions, and successfully defended those decisions before the New York State Appellate Division, Second Department which unanimously affirmed.
Real Estate Brokerage Firm – Dismissal of Discrimination Claims Upheld on Appeal
Successful defense of a luxury real estate brokerage firm in an action alleging discrimination based on sexual orientation and marital status in violation of New York State and City Human Rights Laws. Herrick secured the complete dismissal of the complaint in the trial court, and then successfully defended the ruling on plaintiffs’ appeal to the Appellate Division, First Department which upheld the dismissal, finding the plaintiffs had no cognizable claims against our clients who had sought to facilitate, not prevent, plaintiffs’ purchase of a cooperative apartment.
Nursing and Rehabilitation Center – Dismissal of FLSA Class Action
Successful defense of New York City-based nursing and rehabilitation center in a purported class action claiming violations of FLSA overtime provisions. Obtained a full dismissal of the complaint on a pre-answer motion to dismiss which was converted into a motion for summary judgment.
Appellate Victory Dismissing Former Employer’s Claims against Asset Management Executive
Herrick secured a complete appellate victory in its defense of a hedge fund industry veteran against claims asserted by an asset management firm, where the client had formerly been employed as joint CEO. In its ruling, the Appellate Division, First Department unanimously reversed, with costs, the trial court’s order denying our motion to dismiss the complaint. In its opinion, the appellate court agreed that the plaintiff’s breach of contract, promissory estoppel and unjust enrichment claims, arising from an alleged oral agreement, were time-barred.
Real Estate Management Company – Precedent Setting Decision in Wage & Hour Action
Successful defense of a real estate management company and its principal sued by a former residential janitor and two alleged former laborers at New York City properties managed by our client. The plaintiffs claimed minimum wage and overtime violations under the Fair Labor Standards Act and New York Labor Law, as well as related common law claims. The court granted, in substantial part, our motion to dismiss, striking 9 of the plaintiffs’ 12 claims in one of the first decisions to interpret the minimum wage and overtime provisions under New York law and the Minimum Wage Order for the Building Service Industry as they relate to residential janitors.
Successful Defense in Multi-Plaintiff Litigation Alleging Fraud, FLSA and Civil RICO Violations
Defended individuals and related corporations affiliated with a global network of yoga studios in a highly publicized lawsuit in Arizona federal court in which more than two dozen plaintiffs asserted claims including fraud, undue influence, unfair and deceptive business practices, emotional distress, FLSA violations and civil RICO violations. Following a ruling dismissing the majority of claims, this litigation was ultimately terminated when all remaining causes of action asserted in an amended complaint were either dismissed by the court or withdrawn by the plaintiffs.
Medical Device Company – Employment Contract Litigation
Representation of a medical device company, and two individuals in a litigation brought in New Jersey state court by a competitor. The plaintiffs claimed that our clients had violated restrictive covenants in two former employees' contracts, and sought injunctive relief and damages. The Court denied injunctive relief, and the case settled before discovery with no payment by our clients.
Residential Brokerage – Raiding Dispute Favorably Resolved
Represented a major residential brokerage firm in a high-profile raiding dispute involving the improper recruitment of a former manager of one of our client’s key regional offices by a venture capital-backed competitor. This litigation was resolved favorably under a settlement agreement which imposed restrictions on any future recruitment of our client’s executives by the competitor in addition to certain financial terms.
Music Company Executive – Breach of Contract
Obtained dismissal of action alleging breach of employment contract and fraud against a music executive sued by a major record label claiming the client used a multimillion dollar contract negotiated with the label as leverage to obtain a promotion with his current employer, another leading music company.
Apparel Manufacturer – Successful Defense in Breach of Contract and Unpaid Compensation Action
Successful defense of a leading manufacturer of coats and outerwear in a dispute related to the acquisition of the assets of a business, and an employment agreement between our client and the business's former owner. The court dismissed plaintiffs' complaint, which asserted claims for breach of the asset purchase agreement and employment agreement, and granted our client's counterclaims for breach of those same agreements. Following the trial court's determination of liability in our client's favor, we reached a favorable settlement regarding damages to our client.
Major NYC Children’s Clothing Retail Chain – Employment Class Action
Represented children’s clothing retail chain and its founders in a class action alleging failure to pay overtime and other violations of state and federal labor laws, including claims for violations of the Family Medical Leave Act, discrimination based on disability, harassment and retaliation. Herrick was able to settle the dispute quickly on terms favorable to our client and without any admissions of wrongdoing.
National Retail Chain – Pre-Trial Dismissal of Claims Under 42 U.S.C. § 1983 and The Fair Labor Standards Act
Obtained pre-trial dismissal of claims against a national retailer brought by a former employee under 42 U.S.C. § 1983 and The Fair Labor Standards Act, and attendant state law claims for malicious prosecution, negligence, punitive damages, false arrest and abuse of process.
National Energy Supplier – Wage/Hour Class Action
Negotiated a favorable settlement on behalf of a national energy service company, avoiding protracted litigation in a wage and hour class action lawsuit alleging violations of federal and state labor laws.
Network Technology Company — Wage/Hour Class Action
Successful representation of a network technology company in litigating and settling a putative class action lawsuit brought by network technicians based on an alleged failure to pay prevailing wages and benefits on publically financed construction projects.
Healthcare Services Provider – Alleged Violations of FLSA and Connecticut Wage and Hour Laws
Negotiated a favorable settlement on behalf of a leading provider of mental health services to resolve litigation filed in Connecticut federal court by a former staff psychologist alleging wrongful termination and failure to pay wages pursuant to the Fair Labor Standards Act and Connecticut Wage and Hour law.
FINRA Employment Arbitration
Representation of a broker-dealer in a complex employment arbitration brought by six former employees seeking over $10 Million in collective damages. This FINRA arbitration proceeded for 60 sessions, including 32 hearing days, and resulted in a virtually complete defense verdict for the firm, including for attorneys' fees. The award was confirmed in its entirety by the Southern District of New York.
Real Estate Brokerage – Employment Dispute
Representation of a real estate brokerage in an action by a former employee for age discrimination and breach of oral contract promising severance. The Court dismissed the breach of contract claim, finding the oral contract too vague to be enforceable.
Broker/Dealer – Non-Solicitation Dispute
Representation of a registered broker/dealer in defending an action for a temporary restraining order brought by a competitor seeking to restrain our client’s brokers from contacting their respective clients.
Medical Device Company – Raiding
Representation of a medical device company in avoiding litigation threatened by a competitor over our client's hiring of several of the competitor's employees.
Law Firm Partner – Profits Dispute
Representation of a partner in a law firm against the firm in an arbitration concerning unpaid profits. A 15-day trial resulted in an award to our client of nearly $500,000.
Garment Contractors – ERISA Pre-Emption Litigation
Representation of a group of garment contractors in a successful challenge on ERISA pre-emption grounds to a section of New York State Business Corporation Law.
Ward v. Helmsley – Employment/Real Estate Litigation
Representation of the former COO of Helmsley Enterprises in a suit against Leona Helmsley related to an improper firing, breach of an agreement to sell 60 coop apartment units, and breach of a confidentiality agreement. This litigation received intensive publicity, with a front-page article in The Wall Street Journal, and articles in the New York Post and New York Daily News. Lead counsel Ray Hannigan was interviewed on Fox News and was a frequent "Boldface Name" in the New York Times. See Boldface Names, The New York Times (July 24, 2002).