Litigators of the Week Runners-Up and Shout outs
Roberto Finzi and Richard Tarlowe of Paul, Weiss, Rifkind, Wharton & Garrison and Justin Weddle of Weddle Law secured a plea deal for their clients, Anilesh "Neil" Ahuja, the founder and former CEO of hedge fund Premium Point Investments and former trader PPI trader Jeremy Shor that resulted in no prison time.
April 29, 2022 at 07:25 AM
7 minute read
LitigatorsOur first Litigator of the Week runners-up this week are Roberto Finzi and Richard Tarlowe of Paul, Weiss, Rifkind, Wharton & Garrison and Justin Weddle of Weddle Law. They achieved a remarkable turnaround for their clients, Anilesh "Neil" Ahuja, the founder and former CEO of hedge fund Premium Point Investments and former trader PPI trader Jeremy Shor. Ahuja and Shor faced sentences of 50 months and 40 months in prison respectively after a federal jury convicted them on securities fraud charges following a six-week trial in 2019. But after the defense team used a FOIA request to surface evidence that a federal prosecutor suggested revisions to the plea allocutions of government cooperators in their case, U.S. District Judge Katherine Polk Failla in Manhattan granted the defense lawyers' request for a new trial late last year. Last week the judge signed off on a rare 11(c)(1)(C) plea agreement binding her to time-served sentences agreed upon by the parties. With the initial surrender dates for the defendants pushed back due to the pandemic, the outcome means that neither served any prison time. John Del Monaco of Kirkland & Ellis served as co-counsel for Ahuja alongside the Paul Weiss lawyers. Shor was also represented by Julia Catania of Weddle Law.
Another runners-up spot goes to a team at Gibson, Dunn & Crutcher led by Jason Mendro, Adam Offenhartz and Laura O'Boyle. The Fourth Circuit last week upheld the dismissal of a securities class action related to a major data breach targeting servers owned by their client Marriott International. The court noted that SEC guidance advises companies to avoid making detailed disclosures that ultimately could compromise cybersecurity efforts. "Marriott certainly could have provided more information to the public about its experience with or vulnerability to cyberattacks, but the federal securities laws did not require it to do so," wrote Judge Toby Heytens for the unanimous Fourth Circuit panel. Mendro argued the appeal on behalf of the company and its executives. The Gibson Dunn team on the matter also includes Jeffrey Rosenberg, Andrei Malikov and Erica Sollazzo Payne.
Runners-up honors go to a team at Wilmer Cutler Pickering Hale and Dorr that got an early win for Intuit in one of the first major enforcement actions brought by the Federal Trade Commission under Chair Lina Khan. The FTC was seeking an injunction barring Intuit from advertising its TurboTax Free Edition as "free free free free" with only a discreet disclaimer that the service is "for simple returns only." Senior U.S. District Judge Charles Breyer in San Francisco turned back the injunction bid last week noting that year's tax season passed and Intuit had already taken down three of the "most plausibly deceptive advertisements" — three videos repeating the word "free" a dozen or more times over 30 seconds before a brief disclaimer. Breyer also noted the FTC has an administrative proceeding against Intuit involving the matter set for a hearing before an ALJ in September. The Wilmer team representing Intuit was led by Jonathan Paikin and David Gringer, and included partners Howard Shapiro, Sonal Mehta, Jennifer Milici, Daniel Volchok and Seth Waxman, who argued the TRO motion.
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