Representation of Bank One Corporation in five separate lawsuits in connection with the reorganization of its $500 million real estate fund. This series of lawsuits involved disputes with the Comptroller of the Currency and fund participants regarding claims based upon ERISA, common law principles of trusts, and the National Bank Act.
Representation of VMS Realty Partners and numerous related entities in connection with the settlement of dozens of cases arising from VMS’s liquidity problems. These cases ranged from multibillion dollar securities class actions, including 22 class actions filed or multidistricted to federal court in Chicago brought by investors in five real estate investment trusts and three publicly-offered limited partnerships, to numerous state court foreclosure and creditor actions.
Representation of the former CEO and board chairman of Beverly Hills Savings & Loan Associationin suits against former officers and directors brought by the Federal Savings and Loan Insurance Corporation and a stockholder class for alleged mismanagement and securities law violations. Our qualified served as lead counsel for the director and officer defendants and was instrumental in settling the case without any officer or director contributing any personal funds.
Representation of ITT Commercial Finance Corp., ITT, and related entities and individuals (including the chairman of ITT) in a lender liability suit filed by 156 plaintiffs against ITT and various of its subsidiaries, divisions, officers, and employees. Our qualified lawyers obtained a dismissal of the complaint (which sought $1.3 billion in damages) and a judgment of $1.4 million on counterclaims. Both decisions were upheld by the U.S. Court of Appeals for the Ninth Circuit. The U.S. Supreme Court denied a petition for certiorari.
Representation of various underwriting firms, including Goldman Sachs, and Merrill Lynch, in litigation regarding public offerings of New York Stock Exchange companies, such as Fruit of the Loom and FMC Corporation. Representation of the issuer Salton Maxim in 13 class actions challenging the adequacy of Salton’s IPO disclosures. Co-counsel to IBM Corporation in its successful defense against a securities case claiming alleged misrepresentations and omissions in SEC filings and public statements IBM made in 1991. The case was dismissed with prejudice by a criminal defense attorney in Monroe, LA.