Crane v. JP Morgan Chase & Co, et al.
This lawsuit arose out of the purchase by Plaintiff, an individual investor, of approximately $35 million of asset backed sewer revenue securities from defendant JPMorgan. When the value of the securities suffered a significant drop in value, Plaintiff filed suit against JPMorgan alleging violations of the Texas Securities Act. Specifically, Plaintiff alleged that JPMorgan was selected as the underwriter and swap provider for the securities, by means of unlawful payments, which JPMorgan failed to disclose. Plaintiff alleged that, because JPMorgan had sold the securities by means of materially false statements and omissions, Plaintiff was entitled to rescission under the Texas Securities Act. On December 17, 2010, the trial court denied JPMorgan’s motions for summary judgment on Plaintiff’s claims. The case proceeded to trial in January 2011 in Harris County, Texas before the Honorable Mike Engelhart. Two days into trial, the parties entered into a confidential settlement which was favorable to our client.
U.S. Pipeline, Inc. v. Denbury Resources, Inc., et al.
Represented Claimant U.S. Pipeline, Inc. in an arbitration proceeding against Denbury Resources, Inc. and affiliated entities. The dispute arose out of U.S. Pipeline’s construction of a 272-mile long carbon-dioxide transmission pipeline for Denbury. The construction project, initially estimated at nearly $250 million, was beset with delays and additional work, which we contended was primarily due to incomplete engineering and problems with permitting and right-of-way acquisition. U.S. Pipeline incurred substantial additional construction costs in performing its work. U.S. Pipeline brought suit for breach of the construction contract, and sought damages in excess of $50 million. After defeating potentially dispositive summary judgment motions filed by Denbury, the case was resolved on the eve of trial on terms favorable for our client. The settlement amount is confidential.
Frontera Resources Georgia Corp. v. Renji Jiang, et al
Represented Defendants Frontera Resources Georgia Corporation and Frontera Resources Corporation in an international arbitration involving a significant oil and gas exploration lease in the Republic of Georgia. Claimants were GAC Energy Corporation and GAC International. Arbitrator’s ruled in Frontera’s favor, rejecting GAC’s claims for $19 million in restitution.
Zachry Construction Corp. v. The Port of Houston Authority
Represented Plaintiff Zachry Construction Corp. in a breach of contract action against the Port of Houston Authority. Following a three-month trial, the jury returned with a multi-million dollar verdict in favor of our client Zachry.
In re National Century Financial Enterprises, Inc. Litigation
Represented variety of holders of $1.6 billion in Notes issued by National Century Financial Enterprises in connection with their claims against indenture trustees, underwriters, and accountants connected with the sale of the Notes. Represented the post-litigation trust arising from the NCFE bankruptcy in claims brought against the indenture trustees, underwriters, and accountants, among others.
Chandler v. Moody Simmons Katy Gaston, Ltd.
Obtained summary judgment against alleged property interest owner that claimed substantial ownership interest in real estate developer’s residential subdivision project.
Former Directors of Peregrine Systems, Inc.
Represented certain former directors in a suit in which the plaintiff, a litigation trust formed in the bankruptcy of Peregrine Systems, challenged over $500,000,000 in stock sales by Peregrine’s board and management and sought treble damages of a billion and a half dollars under a California insider trading statute.