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Bank disputes

Contacts

Meet the team

Our bank disputes group has a long history of serving financial institutions, including US and non-US banks, broker-dealers, investment banks and other industry participants, in litigation and arbitration matters.

We deliver

  • extensive nationwide experience representing financial services companies in major disputes, including class action litigation, underwriter liability, counterparty disputes, sale practice complaints and regulatory investigations.
  • a broker-dealer team that has defended some of the largest broker-dealers in federal and state courts across the country and before the Financial Industry Regulatory Authority (FINRA). Having tried many cases to verdict, our broker-dealer team has honed the specific skill set required to try these cases efficiently and effectively.
  • a white collar crime and government investigations group, which includes corporate compliance lawyers and former DOJ officials, federal and state prosecutors and SEC enforcement lawyers who counsel US and international clients in a broad range of criminal, regulatory, and parallel civil proceedings. These are trial lawyers capable of trying the most complex cases to verdict.
  • significant experience before the Department of Justice (DOJ), Securities and Exchange Commission (SEC), State and Federal Offices of Inspector General, Congress, Internal Revenue Service (IRS), New York Stock Exchange, Commodity Futures Trading Commission (CFTC), FINRA and other regulatory authorities.

Our recent work

Commercial banks

  • Obtained summary judgment on a case brought against a major bank for US$30 million relating to alleged fraud/misrepresentations concerning funds available in customer’s account to fund the sale of several businesses.
  • Representing a major global bank in suit by borrower that alleges transfer of funds under line of credit was not properly authorized after “cyber-terrorist” allegedly impersonated its President and requested transfer.
  • Represented a global bank against the DOJ’s Residential Mortgage-Backed Securities (RMBS) investigation task force, which involves potential Financial Institutions Reform, Recovery and Enforcement Act of 1989 liability in the purchase, securitization and sale of RMBS.
  • Defended a national commercial bank in multiple patent infringement suits in Texas, Ohio, and Florida, among other jurisdictions.
  • Represented a large regional bank and a loan officer in a fraud case involving competing security interests.
  • Obtained complete dismissal with prejudice of federal securities fraud complaints by an internet startup company represented by a prominent plaintiffs firm against our clients, more than 30 financial institutions.
  • Represented a bank client in a class action involving notice of an ATM fee.
  • Defending multiple major banks in a preference suit related to an oil and gas company’s bankruptcy case.

Broker-dealers

  • Represented one of the world’s largest multinational banks and financial services holding companies, in a receivership arbitration for a “take nothing” arbitration award in the amount of US$90 million.
  • Obtained a take nothing award in a FINRA arbitration claiming US$26 million in damages defending a global broker-dealer and related global bank involving loans against security holdings, concentrated position allegations, collateral call liquidations and potential insider trading.
  • Successfully defended over 30 broker-dealers in a Section 10(b) fraud and market manipulation case involving alleged "naked shorts," in which the court dismissed the entire case with prejudice.
  • Defended a brokerage firm accused of securities violations by first obtaining the dismissal of class claims brought under the federal securities laws and later defeating purchaser attempts to bring similar class claims in an alternate venue under state securities laws. Represented national clearing firm in a multidistrict litigation involving purported class and individual claims relating to alleged victims of a Ponzi scheme.

Investment banks

  • Defeated class certification in federal Investment Advisers Act class action lawsuit against leading Wall Street investment management firm involving allegations of undisclosed amounts of markups and markdowns on bond transactions.
  • Represented a Canadian financial services provider, among other defendants, in a US$1.5 billion RICO case.
  • Represented a former executive of a leading global financial services firm in connection with investigations and proceedings related to various claims, including securities fraud and false books and records.