Gabor Balassa, P.C. - Partner

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Gabor Balassa, P.C.

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Chicago
Phone: +1 312-862-2186
Fax: +1 312-862-2200
Overview

Professional Profile

Gabor Balassa is a litigation partner in the Chicago office. He has broad experience in complex commercial litigation, including accounting malpractice, breach of contract, securities fraud, common law fraud, bankruptcy litigation, employment discrimination, and non-compete matters.


Representative Matters

Chicago Freight Car Leasing Co. and Union Leasing, Inc. v. PricewaterhouseCoopers LLP. Lead trial counsel for PricewaterhouseCoopers in accounting malpractice action filed by former audit clients who alleged that in auditing their financial statements, PwC should have detected a multi-year fraud by plaintiffs' former CFO. Following a three-week trial, the jury returned a verdict for PwC on all counts, including on PwC's counterclaim against plaintiffs to recover its costs and expenses.

Confidential Arbitrations. Trial counsel for big-four accounting firm in arbitration of $500 million audit malpractice claims (August 2010), and lead counsel for another big-four accounting firm in arbitration (resolved through settlement shortly before hearing).

General Growth Properties Bankruptcy Litigation. Trial counsel for "bankruptcy-remote" debtors whose bankruptcy filings were challenged as having been made in bad-faith. After trial, in a landmark decision on the bad-faith standard, the Court rejected these challenges to the bankruptcy filings. Also lead litigation counsel representing debtors in connection with confirmation of their plans of reorganization, covering more than $15 billion of secured debt.

CalPers, et al. v. Wachovia Capital Markets, LLC, et al. Represent Ernst & Young in lawsuits arising from insider fraud at Le-Nature's, Inc., a former E&Y audit client, pending in California state court and in multi-district litigation in the Western District of Pennsylvania. Representation is ongoing.

Bettina M. Whyte v. PricewaterhouseCoopers LLP. Represent PwC in accounting malpractice lawsuits asserted by litigation trustee of one of the country's largest private midstream oil companies, and by certain of the company's former investors, claiming losses in excess of $2 billion. Representation is ongoing.

Bowens, et al. v. 7-Eleven, Inc. Trial counsel for 7-Eleven in class action alleging that gasoline station had contaminated groundwater under surrounding neighborhood in Goshen, Indiana. Plaintiffs settled three weeks before trial.

UbiquiTel, Inc. v. Sprint Corporation and Nextel, Inc. Trial counsel for UbiquiTel in litigation seeking to enjoin Sprint and Nextel from rolling out national marketing plan in violation of Sprint's affiliate agreement with UbiquiTel. Days after closing arguments, before the Delaware Chancery Court rendered a verdict, Sprint-Nextel agreed to purchase UbiquiTel at a significant premium to its market price.

EEOC and Allison Schieffelin v. Morgan Stanley. Trial counsel for Morgan Stanley in first EEOC pattern-or-practice case to go to trial. Case settled after jury selection.

Delta & Pine Land Co. v. Monsanto Company. Represented Monsanto in lawsuit alleging that Monsanto had breached its merger agreement with D&PL. Case settled after Monsanto prevailed on summary judgment against D&PL's principal damage theory that sought $1.5 billion.

In re Visteon Securities Litigation. Represented Visteon in putative class action securities litigation. Prevailed on motion to dismiss.

Aegis v. TransHealtcare, Inc., et al. Represented TransHealthcare and GTCR private equity fund in litigation initiated by nursing home landlords in state and federal courts, alleging RICO violations, fraudulent transfer, and other torts. Resolved through settlement.

Wayne Ingram v. Stronghaven, Inc. Represented Stronghaven in stock purchase dispute with former President and CEO. Obtained defense verdict in arbitration.

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