Banking and Finance
We provide advisory services to banks including comprehensive defense for class actions involving all manner of lending and deposit issues. Our representative experience includes: claims alleging unauthorized practice of law, improper lending, deposit account and garnishment practices, consumer fraud and claims brought under the Truth in Lending Act, Fair Credit Reporting Act, Fair Housing Act and Racketeer Influenced and Corrupt Organizations Act.
We have a proven track record of defending banks, mortgage lenders, automotive financial service providers and we serve as General Counsel to the Michigan Bankers Association.
- Defeated class certification in a class action challenging the escrow obligations of an institution acquired by a bank
- Obtained unanimous reversal by Michigan Supreme Court in a class action asserting that bank’s practice of charging fees for preparation of mortgage documents constituted unauthorized practice of law
- Obtained summary judgment in class action alleging that requiring borrowers pay for private mortgage insurance for the life of a mortgage constituted breach of contract
We represent employers across several industries in a multitude of employment related class actions. From minority discrimination to the Fair Credit Reporting Act, we’ve stopped lawsuit threats dead in their tracks. Even in the most challenging cases, our firm’s appellate practice group has a proven record of successful representation.
- Secured a summary judgment and dismissal of a case from a group of union workers demanding pension benefits from a large automotive supplier - not only was the case tied to the purchase of a bankrupt plant, it involved ERISA, the Labor Management Relations Act, corporate contracts and other complex considerations
- Defeated class certification in federal court action under the employee background check rules of the Fair Credit Reporting Act
Companies involved in high exposure antitrust class actions rely on our litigators. We’re experienced in complex claims involving price fixing and bid rigging, and we’re up for the challenge. From internal investigations to defending your organization against class action suits, we’ll guide you through the process from start to finish.
Currently, we represent two auto suppliers in the “Auto Parts” Multi District Litigation (MDL) pending in the Eastern District of Michigan, which is considered the largest MDL on record.
Businesses large and small, and in a variety of industries, rely on our real estate experts when facing class actions. We represent clients facing allegations of environmental contamination and accusations of violations of the Real Estate Settlement Procedures Act and in many other class action situations.
- Successfully defended a consumer products company against claims of environmental contamination of soil and groundwater
- Represented a title insurance company in a multimillion dollar class action alleging the company’s rate structure violated the Real Estate Settlement Procedures Act
Fraud allegations and state and federal securities law violations can be catastrophic for banks and investment firms as well as their officers and directors. We regularly navigate securities regulations, litigations and enforcement issues and are representative members of the Financial Regulatory Authority and brokerage firms throughout the United States.
- Successfully defended a large retailer against claims of threatened derivative and securities fraud litigation brought by a minority group of shareholders
- Successfully defeated class certification for a case involving an investment advisory firm accused of selling securities in violation of Rule 10b-5
Minefields, mazes and jungles – insurance matters are never straightforward. In class action suits, the traps and turns are multiplied. We advocate on behalf of insurance companies in lawsuits for alleged misrepresentations in the sale of insurance policies, challenges to insurers’ rate structures and pursuing coverage claims.
- Successfully defeated class certification in multi-district federal class actions and state class action against an insurance company alleged to misrepresent the sales of interest-sensitive whole life insurance policies known as ”vanishing premium” policies
- Obtained a “nuisance value” settlement against plaintiffs who alleged an insurance company’s rate structure was illegal
Financial institutions, along with large, closely held corporations targeted in lawsuits alleging shareholder oppression, securities fraud, disclosure violations and breaches of fiduciary duties need experienced representation. We represent clients facing unique and complex issues like investor mass action and equitable tolling.
- Secured summary disposition that was affirmed by the Michigan Court of Appeals for the founder and majority shareholder of a company alleging shareholder oppression in connection with a corporate freeze-out merger
- Secured dismissal of securities and derivative litigation without prejudice filed by a former owner and minority shareholder