National Energy Services Provider – Certification Denied in Consumer Fraud Class Action

Achieved a significant victory on behalf of a national energy services provider by defeating class certification sought by plaintiffs in a putative class action in Pennsylvania federal court, which targeted our client’s affiliate. Claiming to have been the victims of a scheme that “locked” them into variable rate contracts charging purportedly inflated rates for electricity service, plaintiffs sought certification allowing them to sue on behalf of practically anyone currently living in Pennsylvania that ever entered into a variable rate residential electric contract with the company. In its ruling, the court denied class certification on typicality, adequacy, predominance, and commonality. Herrick continues to represent the client on the plaintiffs’ appeal.

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.