Litigation Last year, Hughes Hubbard’s litigators scored a groundbreaking verdict in a crypto fraud trial, a rare summary arbitration award for a global esports company and an appellate victory in claims surrounding the liquidation of Lehman. The firm also delivered wins for an energy provider, an international university, a liquor importer and an auction house.
Jury Verdict at Crypto Fraud Trial
Hughes Hubbard won a groundbreaking jury verdict for a former Wall Street executive embroiled in a class action over an alleged multimillion-dollar cryptocurrency Ponzi scheme.
Rare Summary Arbitration Award for Global Esports Company
HHR scored a complete arbitration victory for FaZe Clan when an ICDR arbitrator issued a partial final award dismissing all claims by two venture firms seeking compensation for introducing the esports company to an investment broker. The award marked a rare pre-hearing victory on a Rule 33 dispositive motion. Five days later, the claimants sought to vacate the decision, but the arbitrator rejected their application on procedural grounds.
Lehman Team Triumphs in 2d Circuit Appeal on Compensation Claim
In the final claims dispute in the liquidation of Lehman Brothers Inc., HHR secured an appellate victory when the Second Circuit affirmed two lower court rulings in favor of the trustee’s treatment of more than $300 million in deferred compensation claims.
Appellate Victory for Dutch Firm in Fraud Case
HHR secured an appellate victory for Dutch hedge fund Palladyne International Asset Management when the U.S. Court of Appeals for the Second Circuit upheld the dismissal of a fraudulent inducement lawsuit brought by one of its former executives.
2d Circuit Affirms Dismissal of Disability Discrimination Suit
The firm obtained an appellate victory for American University of Antigua and Manipal Education Americas when the Second Circuit affirmed a New York federal court ruling dismissing a disability discrimination suit brought by a medical student over her academic dismissal from AUA.
Critical Ruling for Syracuse Mountains in PDVSA Bond Case
HHR scored an important victory for Syracuse Mountains Corporation by defeating a motion to dismiss a breach-of-contract lawsuit against Venezuelan state-owned oil and gas company Petróleos de Venezuela S.A. (PDVSA) brought by Syracuse over defaulted principal and interest payments on $376 million worth of bonds.
Confirmation of Arbitral Award for Mystique
The firm served up a decisive victory for U.S. liquor importer Mystique Brands when a New York federal judge confirmed a nearly $2 million arbitration award of attorney fees against French cognac distiller Cognac Ferrand SAS.
Delivering Finishing Touch for Phillips Auctioneers
In a decisive victory for longtime client Phillips Auctioneers, Hughes Hubbard defeated a lawsuit brought by a China-based art collector alleging that the international auction house breached the parties’ settlement agreement.
Sellas Defeats Investors’ Securities Fraud Suit
Hughes Hubbard achieved a major victory for Sellas Life Sciences Group when a New Jersey federal judge dismissed a proposed class action lawsuit against its predecessor company, Galena Biopharma, over alleged misrepresentations regarding its fentanyl-based painkiller drug Abstral.
Successful Defense of Lutron Against Preliminary Injunction Bid
HHR successfully defended Lutron Electronics Co. Inc. against claims for alleged infringement of U.S. Patent No. 10,822,872, when an SDNY judge held that the asserted claims were likely invalid and thus did not support a preliminary injunction against continued sales of Lutron PALLADIOM® window shade products.
Appellate Victory for CoorsTek Bioceramics
The firm won another victory on the merits for CoorsTek Bioceramics when the Paris Court of Appeal, acting as an EU trademark court, confirmed a lower court decision that paves the way for the medical device manufacturer to offer pink hip implants in Europe.
Rare Release of OFAC-Blocked Funds for LatAm Client
The firm provided counsel to a Latin American client throughout its successful two-year quest to unblock from OFAC restrictions millions in funds from a key account.
Lehman Team to Distribute Final Payout of $269M to Unsecured Creditors
Hughes Hubbard’s Lehman team received court approval to make an eighth and final incremental distribution to general unsecured creditors (GUCs) of the failed brokerage firm, bringing their total recovery to approximately 41.25 percent of what was owed. The team also received approval of a voluntary supplemental distribution available to substantially all of LBI’s GUCs.
Acquittal for Former French PM in Corruption Trial
HHR Paris won an acquittal for Edouard Balladur before the Court of Justice of the Republic in the former French prime minister’s trial over allegations that he financed his 1995 presidential campaign with illegal kickbacks from international arms deals.
SKAT Settles Claims With Pension Plan
The firm assisted the government of Denmark in reaching settlements with a U.S. pension plan as part of an ongoing effort to recover $2.1 billion stolen in an international tax-refund scam. In January 2021, U.S. District Judge Lewis Kaplan approved dismissal of the Danish Tax Agency’s dispute with Tveter LLC Pension Plan and its representative, Christopher Nowell. The Danish Tax Agency, or Skatteforvaltningen (SKAT), announced in a one-page filing that it would drop its claims against the two for allegedly applying for at least $470,000 in tax refunds for shares in Danish companies that they didn’t own.
Nikola Founder Fights Fraud Charges
In a case receiving national media coverage, including the covers of the NYT and WSJ, the firm represented Nikola founder Trevor Milton in parallel DOJ and SEC actions alleging wire fraud and securities fraud related to the startup truck maker. Milton pleaded not guilty to criminal charges of misleading investors about Nikola’s technology for battery-electric and hydrogen fuel cell vehicles.