From left to right: Stephen W. Tountas, Uri A. Itkin, Marc E. Kasowitz, Kenneth R. David, Michael A. Hanin, Sheron Korpus. Partners at Kasowitz Benson Torres Litigation Department of the Year, Finance: Kasowitz Benson Torres
"We come up with strategies that others miss, either to resolve disputes before they see a courtroom or to frame them in a way that will position our client to win when we do get to court."
October 05, 2021 at 01:35 PM
4 minute read
What are some of the department's most satisfying successes of the past year and why? We obtained several significant wins—including two in the span of a week—on behalf of leading investment managers holding over $1.4 billion in notes issued by the National Collegiate Student Loan Trusts in groundbreaking litigations concerning the management and control of the Trusts. In these cases, that we lead, the Trusts' owners have attempted to seize control of the Trusts in violation of the Trust Documents. Our successful rulings established protections that will help ensure the stability of the $10 trillion securitization market for investors. Among other victories, on August 19, we prevailed on a key appeal when the Third Circuit, issued a precedent-setting opinion, in favor of our clients, by invalidating an attempt by the Trusts' owners to install their own affiliate to service and sell the Trusts' loans. And, then on August 27, the Delaware Chancery Court issued a groundbreaking decision clarifying that the Trusts' owners owed fiduciary duties to our clients and other investors when fulfilling any obligations concerning the student loan collateral.
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Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
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