Matters

Jury Verdict Reversed – NJ Construction Dispute Remanded for New Trial

Herrick achieved a significant appellate victory on behalf of a leading consumer products manufacturer in litigation with a general contractor and third-party subcontractors over payment for work done on a multimillion dollar building project in New Jersey.  In a published opinion ordering a new trial, the New Jersey Appellate Division agreed that “the jury instructions and verdict sheet both misstated the applicable legal principals of contract law,” leading to a verdict  in which the contractor was found to have breached its contract with our client yet nonetheless received an award on a services-rendered basis, which only applies in the absence of a binding agreement.  The appellate court further found that the trial court’s flawed instructions prevented the jury from considering our client’s counterclaim for damages incurred as a result of the contractor’s defective work.

National Energy Services Provider – Consumer Fraud Class Action

Defense of the affiliate of a national energy services provider in a consumer fraud class action filed in Pennsylvania federal court by plaintiffs claiming to have been “locked” into variable rate contracts charging purportedly inflated rates for electricity.

Private Equity Credit Investing Arm – Disability Insurance Dispute

Representing the credit investing arm of a publicly traded private equity firm, with $19 billion under management, in a dispute with insurers over payment of disability benefits under a multimillion dollar "key man" policy insuring our client's former co-chief executive officer.

Life Settlement Investment Firm – Advice and Litigation

Representation of a German investment firm with respect to its investment portfolio of U.S. life insurance policies. In addition to providing advice concerning life settlement laws and regulations in various jurisdictions, Herrick has also represented the company in litigation on its disputed claims in multiple jurisdictions. In 2012, Herrick procured a multi-million dollar settlement for the client, almost 90 percent of the policy value, in New Jersey federal litigation in which the carrier contested the claim as a likely STOLI ("stranger originated life insurance") policy. More recently, in 2013, Herrick settled a large claim filed in Pennsylvania federal court in which our client received approximately 70 percent of the policy value in a case where the age of the insured, a former Syrian national, was disputed. Herrick will continue to represent the client on U.S. claims going forward.

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.

National Department Store Chain – Breach of Contract Dispute with Real Estate Brokerage Company

Defense of a national retail chain in litigation filed by a real estate brokerage company seeking damages related to an alleged breach of contract and other claims.