Proskauer

Representative Matters

• AT&T Corporation in its successful litigation seeking to recover hundreds of millions of dollars from its directors and officers’ insurers for the costs of defending and resolving several lawsuits by shareholders and creditors. To defeat what the court labeled the insurers’ “coverage contraction odyssey,” John argued two successful appeals before the Delaware Supreme Court on novel issues involving interrelated wrongful acts, allocation, claims-made issues, and the meaning of the definition of “loss.”  AT&T Corp. v. Faraday Capital Corp, 918 A.2d 1104 (Del. 2007); AT&T Corp. v. Clarendon American Insurance Co., 931 A.2d 409 (Del. 2007) (en banc)
• Several of the largest mutual fund complexes and advisors in recovering from their D&O/E&O insurers the costs of defending and resolving civil litigation and regulatory investigations alleging market timing, late trading, revenue sharing, distribution and sales practice issues, and fund governance disputes
• Numerous insurance trusts in a series of lawsuits against life insurers throughout the United States in which the insurers are attempting to invalidate hundreds of millions of dollars of life insurance policies by asserting that they involve secondary market stranger-owned or investor-owned life insurance. These cases involve numerous legal issues of first impression and important industry-wide economic and business issues.
• An international clearing firm in its effort to recover losses under an electronic and computer crime policy resulting from a complex financial fraud
• Banking institution in the recovery of losses for an alleged privacy and data security loss matter under a series of professional liability insurance policies
• Numerous investors, charitable organizations, family trusts and other victims of the $65 billion investment fraud perpetrated by Bernard L. Madoff, in efforts to recover their losses under several types of insurance policies, including fidelity bonds, professional liability policies and homeowners policies
• Closely held hedge fund company and its principal in their successful efforts to recover income tax liabilities under a fiscal event insurance policy purchased to insure against the potential loss of tax deductions on life insurance premium payments for an individual employer welfare benefit plan
• Numerous securities firms, media companies and newspapers in successful recoveries of property losses, extra expense claims and business interruption and contingent business interruption losses arising from the September 11 terrorist attacks
• Financial institutions, including broker-dealers, insurance companies, and investment banks, in recovering losses resulting from employee dishonesty, fraudulent trading schemes, fraudulent sales practices, market manipulation and embezzlement and misappropriation under fidelity bonds, financial institution bonds, bankers blanket bonds and commercial crime policies
• Securities underwriters, securities issuers, and directors and officers to recover the costs of defending and resolving class action litigation and regulatory proceedings involving the IPO Litigation, Enron, and WorldCom
• A manufacturer of electrical equipment in recovering insurance proceeds to cover environmental liabilities from PCB contamination at more than 40 production facilities and waste sites throughout the United States, in litigation against the insurers in New Jersey and Massachusetts
• A major international pharmaceutical corporation in recovering insurance proceeds for environmental liabilities arising from production facilities in New York and New Jersey
• A major sporting goods manufacturer in recovering insurance proceeds for environmental liabilities arising from a production facility in Vermont
• A chemical recycling and transporting business in recovering insurance proceeds for substantial environmental liabilities at more than 30 environmental sites throughout the United States
• The American Red Cross in connection with the successful recovery of money embezzled by an employee under the fidelity bonds
• An international manufacturer in recovering the costs to defend and resolve class action product liability suits arising from allegedly defective building components
• International bearings manufacturer in recovering insurance proceeds for substantial environmental liabilities arising from numerous lawsuits and environmental cleanup actions in connection with a production facility in Missouri
• International beverage and food company in connection with the recovery of insurance proceeds for environmental liabilities at a number of waste facilities and production operations
• The Village Voice in connection with its efforts to recover insurance proceeds for antitrust investigations, and in actions asserting professional liability claims against its insurance broker
• An international insurance broker in litigation against its professional liability insurers, seeking coverage for the costs of defending and resolving claims brought by a statutory rehabilitator of an insolvent insurer
• A group of potentially responsible parties in recovering substantial insurance proceeds for environmental liabilities arising from a contaminated disposal and recycling facility in East St. Louis
• A securities issuer in the waste recycling and transportation business, and its officers and directors, in seeking coverage under their directors and officers’ liability insurance policies for class action litigation arising from an initial public offering of the company's securities
• Several securities issuers in the life sciences and pharmaceutical industries, and their officers and directors, in seeking coverage under their directors and officers’ liability insurance policies for the costs of defending and resolving class action litigation
• A life sciences company in obtaining insurance recovery under its products liability policies for a series of lawsuits involving allegedly defective respirators
• An international chemical manufacturing firm in recovering property damage and business interruption losses arising from a chemical explosion at a production facility in South America
• Performed environmental and insurance due diligence for major private equity firms in connection with transactions involving chemical and resin producers, chemical recyclers and transporters, pharmaceutical companies, life sciences companies, agricultural companies and other industries, including analysis and quantification of liability risks and potential insurance recovery, auditing historical insurance coverage, and advice concerning the procurement of specialty insurance coverage
• Performed insurance analysis and advised international asset management and securities underwriter in connection with insurance coverage relating to its initial public offering