Another Stellar Batch of Litigator of the Week Runners-Up and Shout Outs
Boies Schiller Flexner, Bernstein Litowitz Berger & Grossmann, Kessler Topaz Meltzer & Check and Grant & Eisenhofer won more than $600 million in damages for shareholders of Fannie Mae and Freddie Mac at trial against the Federal Housing Finance Agency.
August 18, 2023 at 07:25 AM
7 minute read
Quick TakesOur first runners-up this week are lawyers at Boies Schiller Flexner, Bernstein Litowitz Berger & Grossmann, Kessler Topaz Meltzer & Check and Grant & Eisenhofer who scored a big win for shareholders of Fannie Mae and Freddie Mac in a dispute with the Federal Housing Finance Agency that has its roots in FHFA's bailout of those congressionally chartered companies during the subprime mortgage crisis. After a two-week trial and eight hours of deliberations, a federal jury in Washington, D.C. this week found that the FHFA improperly amended stock purchase agreements to sweep up the net worths of Fannie and Freddie and avoid paying shareholders dividends. Jurors awarded shareholders a total of $612.4 million in damages. The trial team for the plaintiffs included Kenya Davis and Hamish Hume of Boies Schiller, who presented opening and closing arguments respectively, as well as Robert "Rocky" Kravetz of Bernstein Litowitz and Lee Rudy of Kessler Topaz.
Mike Bonanno of Quinn Emanuel Urquhart & Sullivan and Ethan Glass of Cooley take home our other runner-up spot this week for securing a summary judgment win for the National Association of Realtors in a high-stakes antitrust case accusing the association of conspiring to prevent listings from real estate startup REX from showing up on Zillow. REX had sought upwards of $1 billion from NAR, but Senior U.S. District Judge Thomas Zilly in Seattle this week found that the optional NAR policy cited by REX didn't support the "existence of an alleged agreement" with Zillow, and dismissed NAR from the case outright.
Shout out to lawyers at Baker Botts and Gibbs & Bruns who got appellate affirmance of a trade secrets trial win for off-shore drilling equipment maker Dril-Quip Inc. and Richard Murphy, an employee who joined from rival FMC Technologies Inc. FMC alleged that Murphy conspired with Dril-Quip to steal trade secrets to develop its VXTe subsea tree system. But in a 60-page unanimous opinion last week, the First Court of Appeals in Houston, Texas found the trial evidence supported the jury's finding that FMC didn't have a trade secret that qualified for protection. The Baker Botts team representing Dril-Quip included partners Macey Reasoner Stokes, Paul Morico, Danny David, Liz Flannery, David Wille, Amy Hefley, Susan Kennedy, Thomas Phillips, and associates Travis Gray, Elisabeth Butler, Amy Bergeron and Nischay Bhan. Murphy was represented by Barrett Reasoner, Brice Wilkinson, Ross MacDonald, Conor McEvily and Shannon Smith of Gibbs & Bruns.
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View AllLaw Firms Mentioned
- Paul Hastings
- Grant & Eisenhofer
- Quinn Emanuel Urquhart & Sullivan
- Gibbs & Bruns
- Covington & Burling
- Cooley
- Barroway Topaz Kessler
- Mayer Brown
- Boies Schiller Flexner
- Baker Botts
- Davis Polk & Wardwell
- Bernstein Litowitz Berger
- Morris, Nichols, Arsht & Tunnell LLP
- Hunton Andrews Kurth
- Latham & Watkins
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Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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