Consumer Products Manufacturer – 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.
Represented a property owner on claims arising out of a breach of lease and supply agreement. The client leased property to a tenant for the purpose of operating a gas station on the property. The lease prohibited the tenant from subleasing without landlord consent. The lease also contained provisions requiring the tenant to buy petroleum products from the owner. The tenant violated the terms of the lease and supply agreement when it allowed a sub-tenant to occupy the premises and purchased petroleum products from another party. Herrick moved for and was granted summary judgment on the claim for breach of the lease agreement. The remaining claims were thereafter settled.
Australian Public Company – Misrepresentation Against U.S. Financial Institution
Achieved significant settlement on behalf of the former Chief Executive Officer of an Australian public company alleged of misrepresentation against a U.S. financial institution in connection with the sale of securities in certain securitized loans.
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
Represent 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.
Represented 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.