| Partnership Breach of Fiduciary Duty Lawsuit $3.0 million jury verdict in representation of one of the pioneers in creating wireless surveilance camera systems. The plantiff, after having developed the initial working ideas and prototypes of these systems (which are now routinely used in the construction industry and by the military in combat zones, including Iraq and Afganistan), partnered with a prominent Dallas businessman to further develop and market the idea in 2001. However, in March 2005, just as the wireless surveilance camera system market was on the verge of exploding, the defendant locked the plantiff out of the partnership and continued on with the manufacturing and further development of the product line. The case was tried in Dallas County. After a week and half trial, the jury returned its verdict after two days of deliberation. |
| Breach of Contract Lawsuit Leading national insurance companies, investment trusts and pension funds were represented in a breach of contract suit against a major national retailer’s premature redemption of corporate bonds. Plaintiffs alleged that the defendant improperly redeemed the bonds under a "declining receivables" clause when it sold its credit card business for over $30 billion. As a result of the premature redemption, Plaintiffs allege that they lost millions. After a lengthy jury trial, the jury returned a verdict in Plaintiffs' favor for more than $73 million. |
| Breach of Representations and Warranties Representation of a large portfolio management company in two lawsuits against a financial services firm for breach of its representations and warranties regarding commercial loans that the defendant contributed to a pool of mortgage-backed securities. The client serviced the loans and owned the "B-piece" bonds in the securitization. The client filed suit after discovering that representations concerning certain loans were untrue, exposing the defendant and the other investors to risky loans that should not have been included in the securitizations. Both cases resulted in confidential settlements during trial. |
| Security Fraud Lawsuit Defense Defense of one of the Big Five accounting firms in eleven securities fraud lawsuits arising out of the bankruptcy of a large financial service corporation. Prior to its bankruptcy, the accuser was the largest purchaser and securitizer of charged-off credit card debt. After they collapsed, 200 institutional investors in the credit card securitizations, including a number of hedge funds, sued our client and other firms for securities fraud. The cases were ultimately settled. |
| Security Fraud Lawsuit Defense Representation of the former president of a large software firm in a securities fraud suit brought against him by the SEC. The SEC alleged that our client aided and abetted others who knowingly overstated revenue at the software company by more than $1 billion and personally made more than $28 million in illegal profits from insider trading. The SEC sought a permanent officer and director ban against our client, disgorgement of more than $28 million. Our client vigorously disputed the allegations. Through extensive negotiations, client settled with the SEC by paying disgorgement and civil fines totaling $1.3 million. He refused to agree to an officer or director ban. |
| Security Fraud Lawsuit Defense Representation of a well-known New York investor and businessman in a securities fraud lawsuit against a large accounting firm and their law firm, based on their knowing participation in a massive fraudulent enterprise. Our client alleged that the defendants knew or should have known of the fraudulent accounting. Defendants, our client alleged, negligently and recklessly certified financial statements and provided clean audit opinion letters regarding the enterprise. As a result of Defendants' actions, our client alleged he lost more than $100 million by investing in the company. The lawsuit was settled for a confidential amount. |
| Security Fraud Lawsuit Defense Representation of a Dallas start-up company and its principals in a lawsuit against one of the world’s largest accounting firms and a global financial services firm for their role in a securities fraud involving their client. The plaintiffs alleged that the defendant’s, underwriter and auditor for its initial public offering, knowingly or recklessly concealed massive fraud. As a result of defendants' actions, the plaintiffs alleged, the company agreed to be sold in a stock transaction valued at more than $36 million. When the fraudulent nature became public, the value of the stock plaintiffs' received for their business became worthless. The lawsuit was settled for a confidential amount. |
| Security Fraud and Breach of Contract Lawsuit
Defense Defense of a well-known international businessman in a $200 million fraud and breach of contract case arising out of the discovery of the world's largest nickel deposit. In the suit, the plaintiff alleged that he had an agreement whereby he was to receive 5% of the net revenue generated by certain projects the he and our client had worked on together. None of the projects ever yielded any net revenue. The plaintiff, however, argued that because our client had placed the projects into a public company and used the proceeds from the sale of shares in the company to invest in the nickel project, that he was entitled to proceeds from that separate project. The plaintiff sought his share of the proceeds generated from the sale of the company, in what was, at the time, the largest merger in Canadian history. After a three-week jury trial, the Dallas jury found in favor of our client on all claims. |
This list is a partial list of results. The results in every case are dependent upon the facts and circumstances of that particular case.
HORP&B Obtain $3.0 Million Jury Verdict in Partnership Dispute
2/18/08 - Press Release
The Law Offices of Heygood, Orr, Reyes, Pearson & Bartolomei announced today the February 15th jury verdict in the amount of $3.0 million for their client, Tony Alardin, in a partnership dispute regarding the development, manufacture and sale of wireless video surveillance trailer systems. (read
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Jenkens & Gilchrist Closing After Admitting Role in Tax Fraud
3/30/07 - The Dallas Morning News
Jenkens & Gilchrist, once the largest law firm in Dallas, has admitted promoting fraudulent tax shelters and will pay the Internal Revenue Service $76 million and go out of business, the IRS and the U.S. attorney in New York announced Thursday. (read
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Non-compete Agreement Ruled No Basis for Damages
12/21/06 - New York Law Journal
A lawyer who signed a non-compete agreement with his former firm cannot claim damages on the grounds that the agreement is barred by New York state disciplinary rules, a Manhattan federal judge has ruled. (read
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