National Retail Brokerage Firm – Civil Litigation
Representation of a national retail brokerage firm in a state court action alleging sales practice violations.
Executive – SEC Investigation
Representation of an executive of a national retail brokerage firm in a joint U.S. Attorney and SEC action alleging fraud in connection with securities lending.
Stock Brokers – FINRA Investigation
Representation of multiple stock brokers of a national retail brokerage firm in a FINRA investigation into various sales practice violations.
Investor Group – Fraud and Misrepresentation Claims
Represented an investor group in connection with fraud and misrepresentation claims against an investment manager in various private investments.
Regional Brokerage Firm – Investor Claims
Representation of a regional brokerage firm in multiple investor claims alleging fraud and misrepresentation in connection with a failed private placement.
Securities Trader/Broker-Dealer – Investigations
The principal of a securities trader/broker-dealer in connection with investigations by the New York State Attorney General and the SEC into mutual fund trading practices including market timing and late trading.
Former Government Official – Conflict of Interest Investigation
Represented a former senior official of New York City's Economic Development Corporation before the city's Conflict of Interest Board in connection with publicly reported allegations of improprieties.
Telecommunications Equipment Company – New York City Comptroller Investigation
Represented a major telecommunications company in a high-profile investigation by the Comptroller of the City of New York into the sale of two-way radio equipment. We obtained full payment of multi-million dollar invoices for the company.
Asphalt Contractor – Post 9/11 Reconstruction Bidding Dispute
Representation of an asphalt contractor in challenging the bidding procedure used by New York City and utility companies to award significant street reconstruction work near the World Trade Center site after the September 11th terrorist attacks. We obtained several temporary stays on the grounds that the bidding procedure violated public procurement laws. The city cancelled its invitation to bid and used a different procurement procedure.
Subsidized Housing Project Sponsor – Market Rate Conversion
Represented a sponsor in settling a litigation involving the sponsor's effort to convert one of New York City's largest Mitchell-Lama subsidized housing projects (1,200 units on Manhattan's Upper East Side) to market rate housing. The settlement involved the creation of entirely new subsidy programs by the city and by the sponsor, and an approximately $550 million condominium conversion.
Housing Authority Risk Retention Group – Pollution Exclusion Coverage Litigation
Represented a risk retention group in litigation against a housing authority over whether an insurance policy excluded a judgment against the housing authority for exposure to pollution. In a case of first impression under Illinois law, the 7th Circuit Court of Appeals ruled in favor of our client, holding that the absolute pollution exclusion excluded coverage for an underlying $10 million judgment against the insured based upon exposure to pollutants, even though the insured did not actively cause the pollution, and even though the pollution originated off-site and migrated to the insured's property. (Housing Authority Risk Retention Group, Inc. v. Chicago Housing Authority, 378 F.3d 596 (7th Cir. 2004))
Estate Trustee – Removal Litigation
Representation of the trustee of an estate in litigation with the trust's settlor. The settlor sued to remove the trustee, whom he had appointed, alleging conflict of interest and failure to account. The trial court dismissed the suit, and Herrick represented the trustee in successfully defending the appeal.
Private Company – Political Misuse Investigation
Representation of a private company in connection with a state Attorney General's investigation into whether a former governor improperly used the company to engage in "dirty tricks" against a political rival.
Financial Media Company – Lease Dispute
Represented a multi-billion dollar financial media company in a lease dispute involving approximately 180,000 sq. ft. of office space.
Title Insurer – Frivolous Claim Defense
Defended a title insurer in an action by a property owner seeking title insurance coverage. The court found the owner's damages to be attributable to its own actions, and impressed sanctions against the owner and its counsel, which included attorneys' fees, for prosecuting frivolous litigation.
Consumer Products Manufacturer – Paraguayan Litigation
Represented an international consumer products manufacturer in a legal action brought against it in Paraguay. We are working with the U.S. State Department to deal with the unusual legal rulings involved.
General Contractor – Lien Foreclosure
Representation of a general contractor in a lien foreclosure action against the Metropolitan Transit Authority and the owner of 2 Broadway, New York, the MTA's headquarters. After a trial on the merits, the New York State Supreme Court awarded our client damages in excess of $1 million.
Mezzanine Lender – Term Sheet Breach
Representation of a mezzanine lender in an action in New York State Supreme Court against a borrower for breach of a term sheet. The court granted our motion for summary judgment and awarded damages.
Jury Dismisses Subcontractor’s Discrimination and Breach of Contract Claims
Representation of a real estate developer and general contractor in an action by a minority subcontractor pursuing multi-million dollar discrimination and breach of contract claims. All claims were dismissed after a two week jury trial in the United States District Court for the Southern District of New York.
Joint Venture Partner – $40 Million Construction Agreement Dispute
Represented a joint venture in connection with disputes arising out of DEP construction agreements worth in excess of $40 million.
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.
Investor – SEC Investigation
Representation of an investor in multiple inquiries by governmental authorities in connection with alleged insider trading.
Investment Banker – FINRA Proceeding
Representation of a former employee of a major investment bank in a FINRA regulatory proceeding on charges that he misappropriated funds from his employer by improperly submitting personal expenses as business-related expenses.
Inter-Dealer Brokerage Firm – $500 Million Raiding Case
Represented the U.S. affiliate of a billion-dollar inter-dealer French 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.
Asset Management Company – Employment Issues
Represented one of the leading independent asset management companies in its defense of a wrongful termination action claiming religious discrimination, and in a separate action claiming discrimination based on disability. We continue to represent the company in all aspects of its employment disputes, and in risk management issues.
Real Estate Board of New York – Mitchell-Lama Litigation
Represented the Real Estate board of New York in its successful lawsuit against the New York City Council to overturn Local Law 79. The law required owners of Mitchell-Lama housing and housing subsidized by certain federal programs to give a right of first refusal to purchase their projects to tenants, pursuant to an ambiguous and burdensome process. The Court found that the law was preempted by federal and state housing laws, and enjoined the City from enforcing it.
Trader – FINRA Investigation
Representation of a former trader at a national retail brokerage firm in a FINRA regulatory investigation into charges of front-running one of the firm's customers.
Securities Broker – Forgery Investigation
Representation of a broker in an NYSE regulatory investigation alleging that the broker forged managerial signatures on new accounts forms and disposed of original employer documents. The broker received an admonition letter in lieu of an enforcement proceeding being brought against him.
National Exchange Department Head – SEC Investigation
Representation of a department head of a national exchange's regulatory division in an SEC investigation into the exchange's failure to enforce its member surveillance program and filing false records with the SEC. The former department head received a cease-and-desist order with no monetary penalties assessed against him.
Brokerage Branch Manager – NASD Investigation
Representation of the branch manager of a regional brokerage firm in an NASD regulatory investigation into improper market timing activities that allegedly occurred in the branch office. No charges were brought against the branch manager.
Private Company Officers – SEC Investigation
Representation of officers of a non-public company in an SEC investigation of the company's unregistered offerings. The SEC alleged that the offerings violated various securities laws, but we convinced the SEC's New York Regional Staff to recommend that charges not be brought against these individuals.
Independent Broker-Dealer – State and NASD Litigation
Representation of a national independent broker-dealer in a New York State civil litigation and in a related NASD arbitration against former employees to recover fees and restitution payments made by the firm as a result of the misconduct of its former employees.
Tire Manufacturer – Antitrust Litigation
Represented a tire manufacturer in successfully defending an antitrust suit brought by an authorized dealer claiming that the manufacturer failed to make a tire available to the dealer that it made available to other authorized dealers.
Title Insurer – Fraud and Defalcation
Representation of a title insurance company in recovering $8 million in losses incurred by defalcation and fraud of a title agent.
Independent Directors – Internal Investigation
Represented the independent directors of a public corporation in conducting an internal investigation into shareholder derivative claims.
Real Estate Management Company – Tax Protection Dispute
Represented a real estate management company in defending against a multi-million dollar claim that it breached a tax protection agreement with a property owner that contributed an office building to the partnership. The property owner claimed that the tax protection agreement was triggered by the real estate company's merger with another company.
Severodonetsk Azot – Stopping Improper Government Seizure of Privatized Plant in Ukraine
Representation of a U.S.-based chemical company in a hard-fought dispute over the massive chemical plant, Severodonetsk Azot, in Eastern Ukraine. Corrupt political forces in Ukraine took control of our client’s plant through the commencement of a bogus lawsuit in Kiev and the outright seizure of the plant by a private militia. Herrick argued an appeal in Kiev’s court of appeals and also met, in Kiev, with Ukrainian ministries and the U.S. Embassy as part of a concerted effort to exert political pressure on the Ukrainian government to end the illegal actions.
As part of these efforts, Herrick alerted the New York Times to situation and the Times, in investigating the story, uncovered that the political dispute over the Severodonetsk Azot plant had led to Ukrainian President Yushchenko dismissing his prime minister and the rest of her government. See Deal for Ukraine Company Renews Charges of Abuse (The New York Times, Sept. 15 2005). The Ukrainian Supreme Court ultimately reversed the Kiev court and upheld our client’s ownership of the plant.
Real Estate Developer – Mitchell Lama Contract Dispute
Represented a major developer in enforcing a $100 million contract to sell a Mitchell Lama project on Roosevelt Island, New York. The trial court dismissed our complaint, but the Second Department, relying on our legal arguments, reversed the lower court and permitted the claim for specific performance to move forward. (R.I. Island House LLC v. North Town Phase II Houses, Inc. (2nd Dep't, May 2008)).
Congregation Yetv Lev D’Satmar, Inc. v. 26 Adar N.B. Corp. – Religious Corporations/Title Dispute
Appearance as amicus curiae on behalf of the New York State Land Title Association in an important appeal involving issues under New York's Religious Corporations law. Congregation Yetev Lev D'Satmar, Inc. v. 26 Adar N.B. Corp., 641 N.Y.S.2d 680 (2nd Dep't 1996)
Real Estate Developer – Mixed-Use Conversion Case
Successfully represented a real estate developer in litigation over its right to convert a building it purchased from office/retail use to mixed office/retail and residential use.
Former CEO – SEC Investigation
The former CEO of a major fiber optic company in an SEC investigation of accounting irregularities. After a grueling deposition and an in-depth Wells Submission, the SEC determined not to pursue any action against our client.
The Goodyear Tire & Rubber Company – Product Liability Litigation
Represent Goodyear in product liability matters involving tires, rims, hoses, inflation tools, roofing products, retail stores and related real estate issues.
Hedge Fund Collapse – SEC Investigation
Representation of the chief operating officer of a $1 billion hedge fund in connection with an SEC investigation into the fund's collapse and liquidation.
Retail Brokerage – NYSE Investigation
Representation of a national retail brokerage firm in claims brought by the Enforcement Division of the New York Stock Exchange relating to proxy procedures used on an industry-wide basis. The case was favorably resolved after discovery.
Real Estate Management Company – Repair and Restoration Dispute
Representation of a Manhattan real estate management company in a long-running dispute with a neighbor over the repair and restoration of a chimney. Immediately following a half-day bench trial, the justice ruled from the bench in favor of our client in the full amount claimed plus interest and attorneys' fees.
Religious Corporation – Control Dispute
Representation of the interests of an heir to the leadership of a major religious corporation in fending off a challenge from a rival faction for control of the community's institutions and organizations. In the Matter of Congregation Yetev Lev D'Satmar Inc., 31 A.D.3d 541 (2d Dep't 2006), aff'd, 9 N.Y.3d 282 (2007) and Congregation Yetev Lev D'Satmar of Kiryas Joel, Inc. v. Congregation Yetev Lev D'Satmar Inc., 31 A.D.3d 480 (2d Dep't 2006).
S. Rothschild & Co., Inc. – Cybersquatter Eviction
Represented S. Rothschild & Co. in its successful UDRP arbitration against a cybersquatter to recover a domain containing our client's registered trademark. S. Rothschild & Co., Inc. v. Bao Shui Chen, NAF Decision (Dec. 29, 2007)
Medical Device Company – Employment Contract Litigation
Represented 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.
Medical Device Company – Raiding
Represented a medical device company in avoiding litigation threatened by a competitor over our client's hiring of several of the competitor's employees.
Finance Company – Ponzi Scheme Foreclosure
Representation of a finance company in its foreclosure of a commercial property placed in receivership due to the collapse of an alleged Ponzi scheme by the ownership entity.
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