February 3, 2021

Munger, Tolles & Olson Recognized for Top Defense Verdict

The Daily Journal selected the firm’s representation of a major national bank in obtaining a unanimous jury verdict against a former high-level employee who alleged that a workplace call in connection with a multibillion dollar foreign exchange transaction had been illegally recorded.

At the two-week trial, the Munger, Tolles & Olson team successfully proved that the plaintiff should have known of the recording given pertinent policies and training as well as his long tenure in the highly regulated finance industry.  

In one of the last trials before the COVID-19 pandemic began, this novel case resulted in a unanimous verdict on the merits of the case as well as the bank’s independent statute of limitations defense, and it not only defeated the plaintiff’s claims for tens of millions of dollars, but it also paved the way for the bank to use the recording in the subsequent wrongful termination claims brought by this plaintiff and one other.

The Munger, Tolles & Olson trial team was comprised of Malcolm Heinicke, Bryan Heckenlively, Erin Cox, Dane Shikman and Carrie Litten.