Represented the former owner and directors of a property-casualty reinsurer in a series of seven related suits that sought $450 million in damages for allegedly improper insurance practices, including alleged brokerage, fronting, pooling, insurance placement, and loss reserve abuses. During the course of the protracted litigation, the partners took over 125 depositions, employed eight expert witnesses, and marshalled over two million pages of documentary evidence on behalf of their clients in federal and state court proceedings in New York and Kentucky. In one of several reported decisions, the Second Circuit and Kentucky Supreme Court overturned a $45 million judgment against the clients for allegedly declaring unlawful dividends in National Distillers & Chemical Corp. v. Stephens, 912 S.W.2d 30 (Ky. 1996). A D&O coverage claim was also successfully prosecuted on behalf of the former directors.

Defended the seller of an insolvent reinsurer charged with fraudulently concealing a massive reserve deficiency in an eight week trial in the Southern District of New York. On appeal, the United States Court of Appeals for the Second Circuit unanimously reversed a $42 million judgment against our client in Delta Holdings, Inc. v. National Distillers & Chemical Corp., 945 F.2d 1226 (2d Cir. 1991), cert. denied, 508 U.S. 985 (1992).

Defended the owner and President of a casualty reinsurer against fraud and RICO claims by its ceding companies. The claims were dismissed on summary judgment. In a related proceeding, similar claims by retrocessionaires were summarily dismissed in Stephens v. American Home Assurance Co., 811 F. Supp. 937, 954 (S.D.N.Y. 1993).

Represented a medical device manufacturer in an SEC investigation into fraudulent stock manipulation practices. Witnesses and evidence provided the SEC resulted in the Commission filing a civil complaint against the principal competitor of the client for violations of the federal securities laws.

Represented the NASD in a series of antitrust class actions that charged the client with conspiring with the New York Stock Exchange and American Stock Exchange to fix the price of third market securities. In the principal action, a directed verdict was issued in favor of the client in a jury trial in Dallas, Texas.

Represented a captive insurer charged with breaching a net worth guarantee in a bulk reinsurance agreement. The claim was dismissed on summary judgment.

Successfully represented directors and officers seeking coverage for future claims from an insurance holding company that was seeking to distribute assets to shareholders without adequately securing the indemnification rights of the directors and officers.

Won a jury verdict for a prominent radio personality in an age discrimination suit against
a large media company in the Middle District of Pennsylvania.

Represented three Fortune 500 companies before the SEC in three improper payment investigations into alleged bribery and related practices that purportedly inflated earnings and manipulated the price of their stock.

Represented an Australian client in a series of trade secret, breach of contract, antitrust, constructive trust, and patent suits against a rival medical device manufacturer in New York, Texas, Connecticut, Illinois, and Australia.

Successfully defended the Hilton hotel chain and its controlling shareholder in a California suit growing out of a takeover attempt by a rival hotel company.

Represented a large paper manufacturer charged with price fixing in a series of antitrust class actions consolidated in the Eastern District of Pennsylvania.

Represented the Federal Reserve Bank of New York in a contract indemnity action in the Southern District of New York.

Represented a large shipping company that lost a multibillion dollar contract to transport liquified natural gas from Indonesia to Japan.

Successfully defended a California company in a four-year battle against its former owner in federal and state court suits in New York, New Jersey, California, and Switzerland.

Represented a large New England food chain in a takeover action against a rival Canadian firm in federal court in Portland, Maine.

Successfully defended a North Carolina life insurer in a series of takeover actions, proxy battles, and securities fraud cases in federal and state courts in North Carolina and Delaware.