Complex Commercial Civil Litigation
The Firm handles a wide variety of civil matters in the area of complex commercial litigation. Most of the civil litigations involve commercial disputes and/or securities fraud, although the Firm also handles disputes involving breach of contract, breach of fiduciary duties, tortious interference, and other standard causes of action in the business context. The Firm's lawyers litigate nationwide in both state and federal trial and appellate courts and offer representation in civil investigations and prosecutions by government agencies such as the Securities and Exchange Commission and the Internal Revenue Service.
Mr. O'Shea's aggressiveness and expertise in trying cases gives the civil litigant a huge advantage. The Firm's lawyers focus on trial preparation through all stages of the case, including in the preparation of the complaint or answer and in the examination of documents and witnesses in discovery. The Firm believes that to achieve the best result, either through settlement or verdict, the case should be prepared to go to trial. Mr. O'Shea is known for his trial abilities and is regularly hired as trial counsel by large corporations, investment advisory firms and law firms. He has tried more than forty-five federal jury trials in his career.
Mr. O'Shea is also regularly brought in to handle appeals in complex civil litigations. Mr. O'Shea frequently argues appeals in the United States Court of Appeals for the Second Circuit as well as in the Appellate Divisions of the First and Second Departments of the Supreme Court of the State of New York.
Representative cases include:
- The Firm, in July 2009, won a $100 million judgment for a private equity firm in a 10b-5 securities fraud and breach of contract litigation against Cendant Corporation in parallel actions in state and federal court flowing out of Cendant's criminal accounting fraud. In September 2007, the Court awarded the Firm’s client over $98 million in compensatory damages and sanctioned Cendant $720,000 for discovery abuse and spoliation of evidence. In addition, the Court awarded our client attorneys’ fees and costs of suit. In 2009, Mr. O’Shea won affirmance of this judgment by the United States Court of Appeals for the Second Circuit.
- In 2005, the Firm obtained a multi-million dollar award for an executive who conceived and introduced the Refco/Thomas H. Lee leveraged buyout. The trial, conducted almost entirely by cross-examination of adverse witnesses who denied the involvement of Mr. O'Shea's client, resulted in a multi-million dollar verdict in favor of the client.
- The Firm represented an NYSE-traded Real Estate Investment Trust in multiple federal litigations related to the disruptions in the mortgage-backed securities market in 2007. The cases sought to redress attempts by the client’s repurchase agreement counterparties to seize valuable mortgage-backed securities for less than full value and to rescind the client’s fraudulently induced acquisition of mortgage-backed securities.
- The Firm represents a hedge fund specializing in emerging market assets in so-called "tax shelter" litigations pending in several state and federal forums. Firm attorneys have aggressively defended these claims, bringing lawsuits against the plaintiffs for indemnification and recovery of attorney fees. In the first such action filed in the United States District Court for the Southern District of New York, the Firm obtained an order granting partial summary judgment requiring the plaintiff to advance the client its attorneys' fees. When another plaintiff sued the client in California state court, Firm attorneys responded by suing the plaintiff in United States District Court for the District of Connecticut, causing the plaintiff to voluntarily dismiss the California action.
- The Firm defended a private equity firm in an action brought by a disappointed mezzanine finance lender in connection with the acquisition of a recycling company. The complaint sought in excess of $40 million in damages. After briefing and arguing hotly contested motions to dismiss, the Firm obtained the dismissal of the case. The Firm also successfully defended the dismissal on the lender's appeal to the Appellate Division of the First Department of the Supreme Court of the State of New York.
- Mr. O'Shea served as investigative counsel to a small publicly traded company to uncover facts behind unexplained grants of stock warrants to an investment advisor. The investigation resulted in the recission of the warrants and a multi-million dollar settlement from the former law firm of the company.
- The Firm represented a New York based real estate firm in litigation related to a theft of corporate opportunity and other acts of unfair competition committed by former employees.
- The Firm represented a fixed income analyst in the Enron-related class action litigations.
- The Firm represented a high-level executive terminated from a prominent securities firm who was seeking bonus compensation and related damages. More than halfway through the trial, the case settled on monetary terms highly favorable to the client.
- The Firm represented a prominent private equity firm as the plaintiff in a securities fraud case venued in the United States District Court for the Southern District of New York. After successfully resisting the defendants' motions to dismiss, the Firm’s partners engineered a favorable eight-figure settlement prior to any deposition discovery.
- The Firm represented an employee terminated by an international consulting firm, seeking recovery of a large block of stock. The arbitration panel returned a verdict in favor of the client, which the firm successfully defended on appeal to the federal district court in Manhattan.
- The Firm represented a private equity investment fund in a federal action against an Alaskan company that contracted to sell the client all of its outstanding shares, but refused to close the transaction. After briefing and oral argument on the Defendants' motion to dismiss the client's complaint, the court not only upheld the Firm's client's claims, but entered summary judgment on the client's claim for specific performance — one of the most difficult remedies to attain in civil litigation. The case ultimately settled on terms favorable to the client resulting in a remedy exceeding the client's original objectives.
- The Firm represented a Manhattan advertising company in an action against two former employees based on the federal Racketeer Influenced and Corrupt Organizations Act (RICO). The case successfully asserted unfair competition claims under state and federal laws, and the client prevailed on an issue of first impression under the federal Anti-Cybersquatting Act.
- The Firm defended a private equity firm accused of fraud by a company based in Italy with over $1 billion in annual revenues and one of the world's leading manufacturers of curtainwall for skyscrapers. After extensive briefing and oral argument, the Firm obtained an order dismissing the complaint in its entirety, and then prevailed on the subsequent appeal to the Appellate Division of the First Department of the Supreme Court of the State of New York.
- The Firm defended a commercial leasing company in a federal Racketeer Influenced and Corrupt Organizations Act (RICO) litigation simultaneously venued in Connecticut state court, New Jersey federal court, and Pennsylvania federal court. The matter also presented the threat of criminal prosecution of the Firm's client. After replacing prior legal counsel, the Firm engineered a quiet settlement on terms favorable to the client.
- The Firm represented a prominent hedge fund and its principals in a dispute with a former partner. The complaint sought recovery under the federal Lanham Act, as well as under various business tort and contract theories. The Firm obtained a favorable settlement for the client.