Financial Services

Mintz’s Securities Litigation team procured a complete victory in the Second Circuit on behalf of BTA Bank in a long-running securities fraud suit, obtaining a precedent-setting ruling requiring plaintiffs to distinguish losses allegedly caused by defendants’ omissions from losses caused by other factors.

Mintz’s client received 100% of the fees we requested on his behalf and was awarded $50,000 in sanctions when the arbitrator concluded the company’s counterclaims were frivolous.

Mintz secured a highly favorable settlement for defendant Sungjin Cho and a complete dismissal of claims against his mother in a highly publicized SEC insider trading case.

Attorney Andrew Thorpe led a Mintz legal team that represented JMP Group LLC, a capital markets firm, in its sale to Citizens Financial Group.

Mintz represented Granahan Investment Management, a small cap equity investment boutique with $5.8 billion in assets under management, in the recently completed sale of a minority interest in GIM to Kudu Investment Management. GIM’s employees will continue to hold 75% of the equity in the firm.

Mintz analyzed PitchBook data to produce an in-depth report on the record rise in special purpose acquisition company (SPAC) fundraising in the US since 2020 and the recent increase in SPAC merger activity. We also explore how SPACs could evolve and litigation challenges to SPAC IPOs and transactions.

Mintz’s litigation team achieved a significant victory for Citizens Bank, securing a dismissal of claims by a class of investors that Citizens and a co-defendant aided and abetted a $102 million Ponzi scheme that started in 2008. The US Court of Appeals for the Second Circuit upheld the dismissal.

Mintz represented bondholders and the trustee of two municipal debt issuances totaling $21 million in a bankruptcy case dispute about the borrower’s attempts to modify the terms of the bonds. Mintz persuaded the borrower to amend its improper proposal — and the bondholders received payment in full.

Mintz represented Bay Point Capital Partners, LP in investigations pertaining to its financing of a prepetition sale-leaseback transaction related to the bankruptcy case of Mission Coal Company, LLC. Our attorneys negotiated a settlement that protected the lender’s interests and made it whole.

Mintz collaborated with a major institutional investor to develop a special purpose limited partnership vehicle. The investor shifted a significant portion of its commitments to other investors to the new structure, which is open to other investors, without incurring any discount penalty.

Mintz obtained over $100 million in recoveries for BP investor clients from a $525 million SEC Fair Fund established for Deepwater Horizon Oil Spill compensation. Recoveries for Mintz clients equaled 100% of their allowed losses.

Mintz obtained over $410 million in judgments for institutional clients in the Household International securities litigation settlement. The court and claims administrator did not deny a single claim from a Mintz client.

Mintz has obtained recoveries of several millions of dollars for institutional clients in non-US settlements since the US Supreme Court’s decision in Morrison v. National Australia Bank. These include the Tesco regulatory matter in the UK and Slater & Gordon in Australia.

Mintz attorneys negotiated a termination agreement with a large Indian technology vendor that had failed to meet the terms of its contract. The successful negotiation eased the client's transition to a new vendor while preserving the client's right to enforce claims against the old provider.

Mintz served as lead counsel to a major multinational mutual fund and financial services company in a multiyear initiative to purchase cloud computing services that will be used across the client's global enterprise.

Mintz helped the Gores Group, a private equity firm, acquire and then monetize a wireless infrastructure portfolio from Powerwave Technologies, which was in bankruptcy. The sale closed less than 15 months after diligence began and returned substantial value for the client.

Mintz represented Anglo Irish Bank in a successful New York County Supreme Court action to foreclose $165 million in construction loan mortgages. The judge authorized a receiver to complete construction of the building and charge the financing of the bank to the mortgager.

Mintz’s victory in a trial before the SEC’s Chief Administrative Law Judge cleared a former State Street executive of charges related to the Dodd-Frank Wall Street Reform and Consumer Protection Act. After the SEC overturned the decision, the First Circuit’s reversal of the Commission made new law.

Mintz represented John Hancock Financial Network in its acquisition of certain assets of Transamerica Financial Advisors Inc. The deal grew assets under John Hancock’s broker-dealer to nearly $50 billion.

Mintz secured an arbitration award of more than $140 million for bank and insurance bondholders following a Eurobond default. The matter against the British Virgin Islander bond issuer, the Egyptian guarantor companies, and two individual owners was found to involve fraud and misappropriations of assets.