Securities Industry Disputes
Another area in which the Firm has achieved notable success is in the handling of sophisticated securities industry disputes. These disputes are typically arbitrated before the Financial Industry Regulatory Authority, the American Arbitration Association, or the New York Stock Exchange. The Firm's lawyers conduct investigations and attempt to negotiate a favorable result in advance of filing a formal claim. If necessary, the lawyers at the Firm prepare and file the statement of claim, conduct discovery and serve as trial counsel during the arbitration. Mr. O'Shea's aggressive style and vast experience in trying cases gives his clients a distinct advantage in the arbitrations. The resolution of these disputes are typically quick, often reaching a final result within twelve months of filing the statement of claim.
Mr. O'Shea has obtained phenomenal results for the Firm's clients. 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.
In 2000, Mr. O'Shea sued a major investment firm on behalf of a terminated trader. Mr. O'Shea closely cross-examined recalcitrant witnesses and utilized documentary evidence uncovered by an exhaustive investigation by the Firm's lawyers during the resulting eight day arbitration before a National Association of Securities Dealers (the precursor to the current Financial Industry Regulatory Authority) panel. The Wall Street Journal reported that the $3 million award was one of the largest financial awards ever won by a senior executive against his former firm in a National Association of Securities Dealers arbitration. The Wall Street Journal, 1/26/01 at C1 & C15. Since that time, Mr. O'Shea has exceeded the amount of that award in confidential negotiated settlements.
Mr. O'Shea has successfully obtained bonuses, stock and other forms of compensation and benefit payments for scores of other terminated executives, analysts and traders at virtually every financial firm on Wall Street. His widespread reputation for trial skill in arbitration hearings aids in his ability to often negotiate favorable settlements without the necessity of a trial in arbitration.