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.
Tag: Firm Victory
Pastore & Dailey Successfully Negotiates Agreement for Former Investment Professional of Hedge Fund
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.
Pastore & Dailey Successfully Represents Broker Dealer Regarding Errors in Filings
Pastore & Dailey successfully obtained a favorable stipulation and agreement with the Connecticut Department of Banking on behalf of a large national registered broker-dealer. The Department of Banking conducted an investigation into the broker dealer and concluded that the broker-dealer has failed to file a timely U5, included misinformation on a U4, and failed to renew its registration for the calendar year. Following our successful representation, the broker dealer was able to amend its filings and receive a favorable stipulation and agreement with the Department of Banking.
Pastore & Dailey Successfully Counters Motion to Set Aside Judgement
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
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
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.
Sanctions and Attorneys Fees Granted in Southern District of Florida Case
Following a Court Order and Award in their client’s favor, Pastore & Dailey successfully moved for sanctions and attorneys fees and costs in the Southern District of Florida.
Court Imposes 5.5% Interest on CUTPA Award
Pastore & Dailey represents a hedge fund that was awarded hundreds of thousands of dollars under CUTPA in May. The court has just imposed a 5.5% interest rate to be paid on that award.
Broker’s U5 Overturned
Pastore & Dailey successfully argued for the correction of a bond trader’s Form U5 before a FINRA Arbitration Panel. This trader’s former employer, a worldwide banking institution, misrepresented the reason for the termination of his employment. Pastore & Dailey convinced the Panel to rule that the wording must be changed to reflect the reality. Contested expungement hearings are rare, and the re-writing of a U5 by a panel in such a situation is extraordinary. Pastore & Dailey is pleased that it could achieve this result, the correct result, for its client.
Pastore & Dailey Successfully Concludes Nationwide Class Action Suit in the SDNY
Pastore & Dailey represented a national retailer in connection with a class action brought in the SDNY alleging that retailer violated the Fair and Accurate Credit Transactions Act or FACTA, 15 USC section 1681c(g). On September 3, 2015 Judge Gardephe of the SDNY issued and order finding that the proposed settlement was fair, resolving the claims against our client without and dismissing the class action.