Tag: Commercial Litigation

Pastore & Dailey Wins Motion to Stay in favor of arbitration on behalf of Connecticut Hedge Fund in Southern District of New York

Posted on by Liam Mennitt

Pastore & Dailey represented a Connecticut based hedge fund and its CEO and Managing Member in connection with a dispute brought over loan agreements used to fund Beta testing of an algorithmic trading methodology. After extensive briefing and time and effort reviewing the numerous complex agreements and navigating the Federal Judge through incredibly complicated documents, Pastore & Dailey successfully persuaded the Court to compel the plaintiffs to arbitrate their claims and stay the action pending arbitration.

 

Pastore & Dailey Successfully Defends Investment Banking Firm in Federal Court in Nebraska

Posted on by Liam Mennitt

Pastore & Dailey recently defended an investment banking firm client in a complex multi-million dollar suit brought against them in the United States District Court for the District of Nebraska. The Court granted Defendants Motion and dismissed all claims against our client.

The Federal Criminal Forfeiture Statute: Reining in the Government’s Previously Unbridled Ability to Seize Pretrial Assets

Posted on by Liam Mennitt
Abstract

American organized crime movies are synonymous with a climatic raid and seizure of illegal assets – typically drugs and guns. But what is really encompassed within the Government’s grasp; what are the “illegal assets”? The truth is that the Government has a wide reach and the criminal seizures don’t end when the screen goes black and the credits roll. The Federal Criminal Forfeiture Statute, as applied to RICO and CCE cases, typically entails the forfeiture of any asset connected to the underlying crimes. Given that criminal forfeiture penalties have ethical and constitutional considerations, it is not surprising to learn that a recent United States Supreme Court decision has scaled back the Government’s power over its ability to seize. This Note will provide an overview of the Federal Criminal Forfeiture Statute, as well as RICO and CCE in order to provide context, will detail the case law history of the statute in application, will examine the ethical and constitutional considerations, and will question the future of the controversially applied law.

Click Here for full article

Orginally Published in Pace Law Review

Kristyn Fleming Francese, The Federal Criminal Forfeiture Statute: Reining in The Government’s Previously Unbridled Ability to Seize Pretrial Assets, 38 Pace L. Rev. 634 (2018)

Available at: https://digitalcommons.pace.edu/plr/vol38/iss2/10

Pastore & Dailey Successfully Secures Case Dismissal in Multi-Billion Dollar S&P Ratings Case

Posted on by Liam Mennitt

In a high profile matter, Pastore & Dailey represented a senior executive of S&P, formerly McGraw Hill Financial Inc., in connection with claims brought by shareholders against S&P and its executives related to the financial services agency’s ratings of RMBS during the 2008 financial crisis.  Cahill Gordon was co-counsel.  The lower court rejected the shareholders’ arguments, and the New York Appellate Court affirmed and rejected the appeal in its entirety.  The Court also found that the claims were barred under the six-year or three-year statute of limitations.

Pastore & Dailey Successfully Secures Case Dismissal in Multi-Billion Dollar S&P Ratings Case

Posted on by Liam Mennitt

In a high profile matter, Pastore & Dailey represented a senior executive of S&P, formerly McGraw Hill Financial Inc., in connection with claims brought by shareholders against S&P and its executives related to the financial services agency’s ratings of RMBS during the 2008 financial crisis.  Cahill Gordon was co-counsel.  The lower court rejected the shareholders’ arguments, and the New York Appellate Court affirmed and rejected the appeal in its entirety.  The Court also found that the claims were barred under the six-year or three-year statute of limitations.

 

Pastore & Dailey Successfully Negotiates Agreement for Former Investment Professional of Hedge Fund

Posted on by Liam Mennitt

Pastore & Dailey attorneys successfully obtained a favorable agreement on behalf of a client in a dispute with a former hedge fund employer in a private EEOC complaint.  The complaint alleged employment discrimination and sexual harassment.  This favorable settlement prevented litigation in federal court and resulted in considerable compensation to our client.

Private-Equity Firm Manager Prevails in Federal District Court Against the Milstein Family

Posted on by Liam Mennitt

Private- equity firm manager Dean Barr, along with his attorneys at Carmody Torrance Sandak & Hennessey LLP, successfully defended claims brought against him by the Milstein Family, the founders of Burlington Coat Factory and investors in Mr. Barr’s firm. The Milsteins had invested several millions of dollars in the fund before its ultimate decline, and claimed that the risks associated with the investment were misrepresented to them. The Connecticut District Court disagreed, and ultimately found that the Milsteins were sophisticated investors, were aware of the risks related to their investment and dismissed the claims brought against Dean Barr. Mr. Barr has retained Pastore & Dailey to bring claims of his own in Connecticut State Court against the Milsteins as well as his former partners.

The full article can be read here: https://m.greenwichtime.com/business/article/Greenwich-financiers-exonerated-in-dispute-with-12606578.php

 

Pastore & Dailey Successfully Counters Motion to Set Aside Judgement

Posted on by Liam Mennitt

In February 2016, Pastore & Dailey successfully secured a permanent injunction against Defendant Felder for infringement of Van De Velde’s “PRIMADONNA”  trademark via a default judgment. Van De Velde is a global retailer of luxury clothing with its headquarters in Belgium. The dispute, which occurred in the Southern District of Florida, resulted in the award of attorneys fees and costs to Van De Velde.

However, on September 29, 2017, more than a year after the judgment, Defendant Felder moved to set aside the default judgment. Pastore & Dailey countered Defendant’s motion as untimely. On March 12, 2018, the Southern District of Florida issued its decision on the motions denying Defendant’s motion to set aside the default judgment and reinforcing the award to Van De Velde. This victory was a collaborative effort between the attorneys at Pastore & Dailey.

Pastore & Dailey Wins Suitability Arbitration for Investor

Posted on by Liam Mennitt

A Pastore & Dailey client recently prevailed in a FINRA Arbitration against a broker dealer firm regarding compliance failures and unsuitable investments solicited by the broker. The arbitration took place in Houston, Texas. Pastore & Dailey was co-counsel with a well known former general counsel of a large securities firm. Our client asserted claims arising from oil and gas master limited partnerships for breach of fiduciary duty, negligence, failure to supervise, unsuitability, misrepresentation, violation of the Florida Securities and Investor Protection Act, Fla. Stat. § 517.301, and breach of contract. Our client was ultimately awarded both damages and attorneys fees.

Client Awarded Hundreds of Thousands in Legal Fees Under CUTPA

Posted on by Liam Mennitt

A Pastore & Dailey client has recently been awarded thousands of dollars in legal fees under the Connecticut Unfair Trade Practices Act (CUTPA) in a dispute involving hedge fund founders. Pastore & Dailey, along with other attorneys, had won the trial in Connecticut State Court in 2016.