James C. Rutten

Bank of America, Merrill Lynch, Wells Fargo, and UBS in numerous RMBS-related cases brought by institutional investors on class and non-class bases in federal and state courts in New York, New Jersey, California, Nevada and Colorado. The cases have involved federal and state law securities claims, common law fraud and other tort claims, breach of contract claims, and Trust Indenture Act claims. Many of these cases were dismissed at the pleading stage or on summary judgment, others were dismissed in part, and still others have resolved on very favorable terms.

Wells Fargo as both a plaintiff and a defendant in numerous cases around the country arising from Wells Fargo’s role as trustee of various trusts, including in cases alleging fraud, breach of fiduciary duty, negligence and other claims. Many of these cases have been dismissed at the pleading stage after a single round of motion practice, and others have resolved on very favorable terms.

Huntington Bancshares in a putative securities class action brought under the Securities Act of 1933, alleging misrepresentations and omissions concerning exposure to interest rate risk.

Merrill Lynch, Piper Jaffray, Jefferies LLC, SVB Leerink, Evercore, MLV & Co. and an international bank in putative securities class actions brought under the Securities Act of 1933 relating to initial and secondary offerings of the stock of biotech and pharmaceutical companies. The cases alleged misrepresentations and omissions concerning the viability of a pharmaceutical product, and executive compensation.

A large investment firm that operated a securities lending program, and whose institutional client alleged tens of millions of dollars in losses arising from a reinvestment of cash collateral in asset-backed commercial paper. After a nine-day arbitration, the arbitrator found in favor of the firm’s client on all claims.

An international bank in a case alleging employee “raiding,” misappropriation of trade secrets and related torts arising from the hiring of nine financial advisors from a competitor. Following a 50-day arbitration, the arbitration panel unanimously decided in favor of our client on all claims.

Burrill Life Sciences Capital Fund III, L.P., as a plaintiff, in a fraud case against the Fund’s former general partner and former auditor (a Big Four accounting firm) arising from a years-long multimillion-dollar embezzlement scheme. After a year of litigation, the Fund settled with the former general partner for a significant portion of its damages, and then settled with the former auditor on a confidential basis.

E*TRADE, as a plaintiff, in a federal securities action arising from a complex securities lending fraud perpetrated by dozens of defendants operating in multiple countries. After E*TRADE defeated the defendants’ motions to dismiss and obtained spoliation sanctions against two of them, the case settled on very favorable terms.

Merrill Lynch, Verizon and Hewlett-Packard in three putative class actions and an individual action alleging the improper escheatment of shareholders’ stock. Two of the cases were dismissed on the pleadings, and another was dismissed on summary judgment while still at the pleading stage. In the fourth, class certification was denied, and the case thereafter settled on an individual basis.

Verizon Directories Corp. in a putative nationwide consumer class action alleging improper renewals of customers’ Yellow Pages advertising. Class certification was denied, and the case thereafter settled on an individual basis.