Pastore & Dailey recently succeeded in defending their client’s claims against a motion to strike in Connecticut Superior Court. Pastore & Dailey was successful on the majority of their counts, including fraud, multiple counts for breach of contract and breach of the covenant of good faith and fair dealing, CUTPA and breach of fiduciary duty. While most of Pastore & Dailey’s successful rulings came from the bench, the Judge did issue a written opinion as to the breach of fiduciary duty claims. Pastore & Dailey prevailed in arguing that their client, a co-owner and co-manager of a successful hedge fund, was in fact owed a fiduciary duty by the other co-owner/manager, despite their equal ownership interests. The court agreed with Pastore & Dailey’s arguments that the existence of a fiduciary relationship depends on several factors and simply because there is equal ownership does not preclude one party from operating as a fiduciary to the other in their management and control. Thus, the court allowed the breach of fiduciary duty claim to survive the motion to strike and remain a valid cause of action in the case along with the majority of their claims, including their most important claims.
Tag: Joseph Pastore
Breach of Claim Win for California-Based Technology Company
Pastore & Dailey successfully represented a California-based tech company in a breach of contract claim against a national cable company arising out of the faulty installation of high-speed data lines.
Pro Bono Victory
The attorneys at Pastore & Dailey LLC represented a federal prisoner in a case against the United States of America on a pro bono basis. The firm was asked to represent the client (who had been acting on a pro se basis) by a Connecticut District Court Judge. The matter involved complex issues of medical malpractice and wrongful death. Overcoming the Government’s sovereign immunity challenges, Pastore & Dailey LLC was able to secure a very significant settlement for its client.
Motion Practice Victory
Recently a Connecticut State Court granted the entirety of a Request to Revise filed by Pastore and Dailey in its defense of a major world-wide insurance company, denying all of the plaintiff’s objections to the motion. The claims involve an incentive stock plan.
P&D Welcomes Rob Manning
Rob Manning joins us as Of Counsel in the Florida office. He is AV-rated by Martindale Hubbell and practices commercial litigation including real property litigation, construction litigation and community association law. Prior to practicing law, Rob was a television news reporter and anchor. We are pleased to welcome him as the newest member of the Firm.
Commercial Litigation Victory
Pastore & Dailey successfully defended against multiple rounds of dispositive motions seeking the dismissal of a complaint filed in California state court against certain former officers and directors of a publicly traded company, as well as prevailed in motion practice seeking the dismissal of certain of defendants’ counter-claims. The defendants in this action were represented by a prominent national firm, and were alleged to have, among other things, breached their duties owed to the company, and committed corporate waste, during their time as directors and/or officers. Subsequent to prevailing at the dispositive motion stage of the litigation, a favorable settlement was obtained on behalf of the client corporation.
Pastore & Dailey Snags Ex-NewOak General Counsel in NY
Pastore & Dailey LLC was recently featured in Law360 regarding Ivor Wolk.
Law360, New York (June 20, 2014, 2:03 PM ET) — Pastore & Dailey has hired the former general counsel of advisory firm NewOak Capital LLC as a partner in its New York office, luring him away from 13 years of in-house practice for banks and financial institutions, the firm announced recently.
Ivor Wolk joined the firm in May, and in his new role, he will work on corporate law and finance, lending, securities law and commercial transactions, structured finance, restructuring and litigation, according to the firm.
To read the full article, click here.
Relocation of P&D’s NYC Office and Ivor Wolk Joins as Partner
Ivor Wolk joined Pastore & Dailey LLC as a Partner on May 1, 2014. The law firm of Pastore & Dailey LLC has offices in New York City, Stamford, Glastonbury and Florida. Pastore & Dailey LLC also announces that it has moved the location of its New York office to 485 Lexington Avenue, 25th Floor, New York, New York 10017. Ivor joins a firm of over 20 professionals, including partners Joseph M. Pastore III, William M. Dailey, Paul Dehmel and Michele Martin, and Counsel Susan Bysiewicz, the former Secretary of the State of Connecticut.
Ivor will practice in the areas of corporate law and finance, lending, securities law and commercial transactions, structured finance and workout/restructuring, as well as litigation relating to the foregoing. He will also act as outside general counsel to clients providing an array of legal services including labor and employment and general corporate advice.
Prior to joining Pastore & Dailey LLC, Ivor served as General Counsel of NewOak Capital LLC, a firm providing financial markets advisory and expert litigation support services with respect to RMBS and other complex financial products litigation matters. Prior to NewOak, Ivor spent 13 years in-house at a number of prominent financial institutions, including WestLB, Barclays Capital and Dresdner Kleinwort as well as serving as a senior derivatives lawyer at the Lehman Brothers chapter 11 estates where he was involved in the resolution of derivative transactions in bankruptcy. At Dresdner Kleinwort, Barclays Capital and WestLB, Ivor was responsible for supporting a broad variety of business units including, sales and trading, lending, private placements, workout and restructuring, structured finance, asset securitization, and portfolio management. Prior to moving in-house, Ivor spent 10 years in private practice. He practiced structured finance at Cadwalader, Wickersham & Taft, bankruptcy and corporate restructuring at Robinson Silverman (now Bryan Cave), and litigation and bankruptcy law at Davis Polk & Wardwell.
He is a graduate of the law school of the University of the Witwatersrand, Johannesburg, South Africa where he received a Bachelor of Laws, cum laude. Ivor also graduated from the University of Cambridge, England with a Master of Laws. Ivor is admitted to practice law in New York.
“I am excited and enthused to return to private practice and look forward to providing my clients with effective and value-oriented solutions to their business and legal issues. I believe that my experience as an in-house lawyer and General Counsel has improved my legal and business skills to allow me to more effectively understand and promote my clients’ interests, Ivor said. “We are thrilled to have Ivor join our firm,” said Pastore. “Ivor strengthens and complements our transactional and corporate group, and further bolsters our national financial services practice. He is a skilled and thoughtful attorney, who fits in well with our large-firm practice style, and our fair approach to client billings. We are also excited to relocate our New York office to the beautiful space on the 25th floor of 485 Lexington Avenue, and expand our capabilities there.”
About Pastore & Dailey LLC: Founded in 2012, Pastore & Dailey, LLC is a leading financial services law firm. With Offices in New York, Connecticut, and Florida, Pastore & Dailey represents one of the largest financial institutions in the world. Pastore & Dailey partners include the former general counsel of a large Wall Street firm, a former member of the board of directors of a national securities exchange, a senior New York Stock Exchange regulatory attorney, the former Secretary of State for the State of Connecticut and candidate for the United States Senate, and an attorney who has been named a Super Lawyer for New York and New England, and was recently honored by the American Lawyer Magazine as one of the top litigators in the country. To learn more, visit www.psdlaw.net.
FOR IMMEDIATE RELEASE June 16, 2014 Press Contact: Ivor Wolk, (646) 665-2202 or Johnna Vitti, (203) 658-8454
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Pastore AV Rated and Named 2014 Top Rated Lawyer
Attorney Joseph M. Pastore III has been named one of the 2014 Top Rated Lawyers for Litigation, and Labor and Employment, by Martindale Hubble. Mr. Pastore has been rated as a Top Rated AV Preeminent® Lawyer through Martindale Hubble for the last 10 years, and was recently rated as a Top Rated AV Preeminent® Lawyer for Appellate Law for 2013-2014.
Dispositive Motions Win
Pastore & Dailey recently prevailed on behalf of Plaintiff after oral arguments against Defendant’s dispositive motions seeking the dismissal of a complaint filed in California state court against certain former directors and officers of a publicly-traded company. The defendants in this action were represented by a prominent nation firm, and are alleged to have, among other things, breached their duties owed to the company, and committed corporate waste, during their time as directors and/or officers.