Gabor Balassa, P.C.

Private Equity Litigation (M.D. Fla.). Trial counsel for private-equity firm in billion-dollar lawsuit involving claims for fiduciary breach, conspiracy to defraud, and fraudulent transfer. Obtained complete defense verdict following three-week trial.

Corporate-Opportunity Litigation (Dallas, Tex.). Trial counsel for private-equity firm in six-week jury trial on $700 million claims alleging aiding and abetting and conspiracy to breach fiduciary duties. Case resolved before closing arguments.

Oil & Gas Merger Litigation (S.D.N.Y). Trial counsel for E&P company in bankruptcy litigation in which unsecured creditors moved to assert fiduciary-breach, aiding and abetting, fraudulent transfer, and equitable subordination claims, totaling over $2 billion. After a 15-day trial, the court denied the creditors’ motions to pursue the claims in their entirety. After a subsequent three-week confirmation trial, the court confirmed the plan of reorganization. The Financial Times “highly commended” the litigation and bankruptcy strategy for innovative lawyering, and Turnarounds & Workouts selected the case as one of the top Successful Restructurings of 2016.

Accounting Malpractice Lawsuit (Tulsa, Okla.). Trial counsel for big-four accounting firm in malpractice lawsuit asserted by litigation trustee of one of the country's largest private midstream oil companies, claiming $2 billion in losses. Resolved shortly before trial.

Airline Class Action Lawsuits. Represented U.S. air carrier in putative class-action lawsuits. Obtained dismissal of lawsuits seeking monetary awards under EU regulations (N.D. Ill.), challenging miles awards under frequent-flyer program (N.D. Ga.), and challenging ticket pricing under “Best Fare” promotion (E.D. Wis.).

Property-Preservation Litigation (D. Md.). Obtained dismissal of all class claims against country’s largest property-preservation service provider. 

Accounting Malpractice Arbitration (Pittsburgh, Pa.). Trial counsel for big-four accounting firm against $500 million claim that the auditors should have uncovered insider fraud at beverage manufacturer that filed for bankruptcy. Ruling for the defendant on all claims. 

Accounting Malpractice Lawsuit (Cook  County, Ill.). Trial counsel for big-four accounting firm in audit malpractice lawsuit filed by former audit clients alleging the auditors should have detected fraud by plaintiffs' former CFO. After a three-week trial, the jury returned a verdict for the defendant on all counts, including on a counterclaim against plaintiffs to recover costs and expenses.

Sprint-Nextel Merger Litigation (Delaware Chancery). Trial counsel for Sprint affiliate in litigation seeking to enjoin Sprint and Nextel from rolling out national marketing plan in violation of Sprint affiliate agreement. Days after closing arguments, before the court ruled, Sprint-Nextel agreed to purchase the affiliate at a significant premium.

General Growth Properties Bankruptcy Litigation (S.D.N.Y.). 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 those challenges. Also lead litigation counsel representing debtors in connection with confirmation of their plans of reorganization, covering more than $15 billion of secured debt.

Groundwater Contamination Class Action (Goshen, Ind.). Trial counsel for national gasoline retailer in class action alleging station had contaminated groundwater under surrounding neighborhood. Plaintiffs settled three weeks before trial.

Delta & Pine Land Co. v. Monsanto Co. (Bolivar, Miss.). 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.

Accounting Malpractice Arbitration (Detroit, Mich.). Lead counsel for big-four accounting firm in arbitration concerning mutual fund’s valuation of securities. Resolved through settlement.

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