Representative Litigation and Arbitration History

Severstal Wheeling, Inc. et al. v. WPN Corporation et al. : Southern District of New York 10 cv 954(LTS)

  • Testified in court for Plaintiff. ERISA matter. Breach of fiduciary duty.
  • Total judgment: $15.0 million.

United States before the SEC In the Matter of J.S. Oliver Capital Management et al. : Southern District of California AP File No. 3-15466

  • Testified in court for SEC. Violations of the antifraud provisions of Securities Act of 1933, Securities, Exchange Act of 1934, Investment Advisors Act of 1940.
  • Order: Cease and Desist; Disgorgement; Monetary penalty of $18.4 million; Investment advisor registration revoked; Barred from the industry.

SEC v. Nelson J. Obus : 06-cv-3150(GBD)(SDNY)

  • Testified in deposition for Defendant. Insider trading.
  • Jury found Defendant not liable for violating insider trading provisions of federal securities laws.

Tutor Perini Corp. v. Bank of America Securities : 1:11-cv-10895-NMG

  • Testified in deposition for Defendant. Plaintiffs alleged violation of 10-b 5 and unsuitability.
  • Defense motion for summary judgment allowed.

Sutow v. Family Endowment Partners LP : 14-434-E- 009979 13

  • Testified in AAA arbitration for Claimant. Breach of fiduciary duty; Suitability; Misstatements.
  • Claimants awarded $48.4 million including $30.0 million treble damages.

Blue Cross and Blue Shield of Minnesota, et al. v. Wells Fargo Bank : 11-cv-2529 DWF/JJG

  • Testified in deposition for Defendant. Plaintiffs alleged misrepresentations in a securities-lending program demanding $8.2 million for losses.
  • Jury found for Defendant rejecting all allegations.

Zachs v. Credit Suisse Securities : FINRA 12-04093

  • Testified in FINRA arbitration for Respondent. Breach of fiduciary duty; Suitability; Misrepresentations. $3.9 million claim.
  • Claimant’s claims denied in their entirety. Expungement recommended.

West Texas National Bank v. Shay Financial Services, Inc. : FINRA 10-05784

  • Testified in FINRA arbitration for Respondent. Breach of fiduciary duty; Misrepresentation of private label mortgage backed securities.
  • Claimant’s claims denied and dismissed with prejudice. Respondent awarded $562,844 fees and expenses.

Urban Child Institute v. Morgan Keegan : FINRA 09-04977

  • Testified in FINRA matter for Respondent. Breach of fiduciary duty; Suitability; Misrepresentations with respect to investments in high yield bond fund. $9.6 million claim.
  • Claimant’s claims denied in their entirety.

Alliance Semiconductor v. JP Morgan Securities : FINRA 10-1403

  • Testified in FINRA matter for Respondent. Breach of fiduciary duty; Suitability; Misrepresentations with respect to investments in auction rate securities; Failure to supervise. $56 million claim.
  • Claimant’s claims denied in their entirety.

Grand Circle LLC v. CCO Investment Services : FINRA 09-06454

  • Testified in FINRA matter for Respondent. Breach of fiduciary duty; Misrepresentations with respect to investments in auction rate securities. $2.5 million claim.
  • Claimant’s claims denied in their entirety.

Li Kwok Heem John v. Standard Chartered International (USA) LTD : High Court of the Hong Kong Special Administrative Region Court of First Instance. Action No. 498 of 2010

  • Testified in Court for Defendant. Plaintiff alleged failure to conduct proper due diligence in the selection of a fund.
  • Plaintiff action dismissed. Plaintiff ordered to pay Defendant’s costs.

United States v. Fredderick S. Schiff : U.S. District Court, District of New Jersey. Criminal No. 06-406(FSH)

  • Daubert Challenge. Judge ruled I was qualified to testify as an expert regarding what information is important to a reasonable investor in valuing companies, and that my opinions regarding this were at the heart of the dispute about materiality at issue.
  • Federal government subsequently agreed to dismiss all charges against Defendant.

Doyle v. Morgan Stanley : FINRA 15-01700

  • Testified in FINRA matter for Claimant. Unauthorized trading; Suitability; Fiduciary duty; Elder abuse; Supervision.
  • Claimant awarded $6.4 million compensatory damages; $2 million punitive damages; $491,000 fees and costs.

BMO Harris v. Wayne Hummer : FINRA 15-02080

  • Testified in FINRA matter for Claimant. Breach of fiduciary duty; Raiding violation of non-solicit agreement.
  • Claimant awarded $1,025,000 compensatory damages; $512,500 punitive damages.

CCM Rochester, Inc. v. Federated Investors, Inc. : Southern District of New York 14-cv-3600(VEC)

  • Testified in deposition for Defendant. Plaintiff claimed fraudulent inducement with respect to an acquisition contract; Breach of implied covenant of good faith and fair dealing.
  • Defense motion for summary judgment granted.

Tradewaves et al. v. Standard Chartered Bank: RC No. S16FC0027L

  • Testified in Court for Defendant. Plaintiffs alleged misrepresentation; Breach of tortious and contractual duties of skill and care; Breach of fiduciary duty; Unjust enrichment.
  • All Plaintiff claims dismissed.

May 1, 2017