Tim Mungovan is the Chair of Proskauer. He is also the immediate past chair of the Firm’s Litigation Department and head of the Securities Litigation practice.
His practice is focused on securities, commercial litigation, governance, and bankruptcy-related matters. He has a national reputation for advising sponsors of private investment funds (hedge, private equity, private credit and venture capital) in a wide variety of matters, including litigation, governance, securities, fiduciary obligations, and regulatory enforcement.
Chambers USA describes Tim as “an extraordinary lawyer who is a fierce and very talented litigator. He is extremely knowledgeable, responsive and client-oriented.” Best Lawyers in America lauds Tim’s experience, integrity, work ethic, communications and courtroom skills. Tim has been listed in the “Top 100 Lawyers” in Massachusetts, and Benchmark Litigation has continually recognized Tim as a Litigation Star in Massachusetts.
Over the last six years, Tim has been the lead litigator representing the Financial Oversight and Management Board for Puerto Rico in the historic restructuring of Puerto Rico’s debts. The scale and complexity of this restructuring has resulted in one of the most active litigation dockets in the U.S. Almost every aspect of the litigation involved matters of first impression in part because the restructuring is governed by the Puerto Rico Oversight, Management, and Economic Stability Act, which was enacted for Puerto Rico in 2016. The track record of success speaks for itself: in the more than 150 lawsuits filed, Tim and the Proskauer team have prevailed in almost 95% of the cases.
Tim is recognized nationally for his experience in private fund litigation and disputes, having focused on the industry for more than 25 years. As part of that focus, Tim created and is the lead editor of Proskauer’s blog on Private Equity litigation, The Capital Commitment.
cum laude
Editor of the Suffolk University Law Review
Boston Bar Association
The American Lawyer Litigator of the Week, January 10, 2020
The American Lawyer Litigator of the Week, Runner Up, January 21, 2021
The American Lawyer Litigator of the Week, Runner Up, October 21, 2021
Benchmark Litigation Star 2024-2025
Chambers USA Massachusetts: Litigation: General Commercial 2022-2023
Chambers USA Massachusetts: Litigation: General Commercial, Eminent Practitioner 2024
Best Lawyers in America
Legal 500 United States: General Commercial Disputes 2023-2024
The Legal 500 United States: Dispute Resolution and Securities Litigation: Defense 2024
Massachusetts Super Lawyers
Massachusetts Super Lawyers “Top 100 Lawyers in Massachusetts”
Founder of private equity fund in connection with a dispute with a younger partner over control of the firm
Multiple institutional limited partners in connection with litigation involving Wellspring Capital Partners IV LP brought by the litigation trustee of a portfolio company concerning distributions made in 2012-2013
Founder of a hedge fund regarding a dispute with younger partner regarding control over the firm
Indus Capital Partners in connection with its investment in Bright Scholar Education Holdings, Ltd., a Cayman domiciled company with operations in the People’s Republic of China and ADS that is traded on the New York Stock Exchange
Institutional limited partner regarding the investigation of certain alleged misconduct by members of the manager and related litigation pending in New York Supreme Court, JZ International LLC v. Rueda, et al., [Index# 65126/2022]
.406 Ventures Management and Sparta Group in defending litigation pending in the Massachusetts Superior Court in connection with claims brought by the CEO of a portfolio company
Fund sponsor in connection with an SEC investigation into Binance and crypto exchanges
Shamrock Capital Advisors in a lawsuit filed after one of its portfolio companies, FanDuel, merged with Paddy Power Betfair, alleging breach of fiduciary duty, aiding and abetting breach of fiduciary duty, and unjust enrichment against FanDuel board members and shareholders due to a claim on undervaluing of FanDuel. We obtained dismissal of all claims against Shamrock Capital Advisors
Fund sponsor in connection with SEC investigation into claims by a co-founder that the sponsor covered up insider trading and self-dealing; the SEC closed the investigation with no finding of wrongdoing
Global pharmaceutical company in dispute with licensee over the reacquisition of two separate drugs in Japan
Global pharmaceutical company in connection with claims arising out of termination of joint development contract and license
Successfully defended the constitutionality of PROMESA against a complaint brought by several Puerto Rico-based labor unions that raised complex, novel theories regarding Puerto Rico’s political status. UECFSE v. United States, No. 19-2243 (1st Cir. April 16, 2021). The union plaintiffs alleged PROMESA violates numerous provisions of the U.S. Constitution, including the First, Fifth, Thirteenth, Fourteenth, and Fifteenth Amendments, as well as various international accords. The Title III Court dismissed the complaint for lack of standing, holding that Plaintiffs had not alleged concrete and particularized injuries entitling them to the requested relief. The First Circuit affirmed, agreeing with the Board that the union plaintiffs raised only general grievances that were not sufficient to confer Article III standing
Obtained a landmark Supreme Court victory on behalf of the Oversight Board, defending the constitutionality of PROMESA’s mechanism for appointing its members. Several creditors—including a hedge fund, a bond insurer, and a local union—alleged that PROMESA’s method for appointing the members of the Oversight Board violates the Constitution’s Appointments Clause. In February 2019, the First Circuit ruled in the creditors’ favor, holding the appointment of the Oversight Board’s members was unconstitutional. After granting cert, the Supreme Court reversed, holding that the Appointments Clause does not apply to the appointment of the Oversight Board’s members because they are not “officers of the United States.” This critical victory ensured that the Oversight Board is able to continue its important work
A private fund sponsor in connection with the SEC’s investigation into crypto exchanges
Private fund sponsors in connection with the SEC’s and Department of Education’s investigations into for-profit colleges and educational institutions
Our lawyers share their insights into their winning strategies both in and out of the courtroom.
Edited by Timothy W. Mungovan, Howard J. Beber, Michael R. Hackett, Stephen T. Mears, Kevin J. Perra and Joshua M. Newville