Search PillsburyLaw.com
  • All
  • Lawyers
  • Capabilities
  • Insights
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z

Service

Financial Services Litigation

Contact

Deborah B. Baum
Partner, Washington, DC
T: +1.202.663.8772
See All Professionals

Combining industry-specific dispute resolution experience with strong working relationships with regulatory authorities, Pillsbury represents financial institutions in the U.S. and around the globe.

From litigating class actions to defending clients in DOJ, IRS and other regulatory and government agency probes to structuring unprecedented settlements between Swiss financial institutions and U.S. prosecutors, Pillsbury helps financial institutions resolve disputes on favorable terms through courts, arbitration or other means of dispute resolution. Working closely with other attorneys at the firm, we also assist in related matters such as internal investigations, bankruptcy and government inquiries.

Pillsbury represents all types of financial institutions, including commercial banks, investment banks, life insurance companies, private equity firms and hedge funds. We help them resolve disputes with customers, regulators, counterparties and others. Often these disputes involve high-stakes, bet-the-company financial exposure or reputational risk. We understand and apply knowledge of not just the law and process, but also regulatory risk, reputational risk and organizational impact.

View More

Our Financial Services Litigation lawyers have successfully handled a wide range of matters including:

  • Capital and financial markets disputes
  • Corporate trust matters
  • Consumer class actions
  • Consumer Financial Protection Bureau matters
  • Disputes regarding loans and other extensions of credit, financial structures, derivatives and financial products
  • Corporate investigations & white collar defense
  • Self-audits and internal investigations

Representative Experience

  • Representing several Swiss banks in probes by the DOJ and Internal Revenue Service into offshore accounts held by American depositors.
  • Represented of foreign bank in connection with an investigation of foreign exchange benchmark rate manipulation.
  • Representing RMBS trustee, as insured, defendant and counterclaimant in a mortgage insurer’s action seeking to rescind multiple mortgage insurance policies covering 11 securitizations.
  • Defeated gift cardholders’ class action claims against a national bank that it violated consumer protection and unfair competition laws, setting important precedent permitting use of arbitration clauses in consumer financial contracts.

View More

  • Commercial Banking and Corporate Trust Litigation
    • Represented senior notes trustee for $4 billion+ in public debt in chapter 11 case of parent company of largest bank to fail in U.S. history. Through intercreditor litigation, achieved junior securities pay-over to fund senior noteholders’ post-petition interest.
    • Defended indenture trustee for $850 million in notes issued by Canadian retailer in issuer’s declaratory judgment action that sought ruling that proposed divestiture represented “all or substantially all” of issuer’s assets; defeated issuer’s summary judgment motion and achieved favorable settlement.
    • Successfully represented Deutsche Bank as junior notes trustee in litigation against noteholder claims to recover post-petition interest at the expense of junior noteholders.
    • Represented Société Générale as the seller of protection under a credit default swap. Court held that credit event did not occur and that our client thus had no payment obligations.
    • Defended bank against “claw back” claims brought by a trustee seeking tens of millions of dollars in redemption payments in connection with the Bernie Madoff scandal.
    • Achieved precedent-setting win for major bank regarding permissibility of imposing freezes on bankruptcy debtor bank accounts when 9th Circuit held that such freezes were permissible to preserve bankruptcy estate assets.
  • Consumer Banking/Class Actions
    • Won class action dismissal against bank holding company alleging multibillion-dollar trust-preferred securities’ redemption breached securities’ indenture and violated implied covenant of good faith and fair dealing by establishing Dodd-Frank as “capital treatment event” justifying redemption.
    • Represent lenders and automobile dealerships in putative class actions alleging Rees-Levering Automobile Sales Finance Act, Unfair Competition Law and Consumers Legal Remedies Act violations related to car sales and repossessions.
    • Defended national bank in a class action regarding ATM deposits. Compelled certain class representatives to individual arbitration and obtained summary judgment as to remaining class representative. Judgment affirmed on appeal.
    • Representing a major financial institution in a consumer class action alleging unfair business practices and Consumers Legal Remedies Act violations relating to business checking account rewards programs.
  • Government Investigations
    • Advised several financial institutions and bank employees in connection with U.S. government investigations related to the Panama Papers leak.
    • Represented several major international financial institutions in money laundering investigations.
    • Represented a major international financial institution in joint federal and state investigation into trade sanction violations.
    • Represented research analyst at major international investment firm in insider-trading investigation.
    • Guiding a major bank and certain of its employees in an SEC investigation into the bank’s mortgage portfolio and allowance for loan losses.
    • Represented brokerage firm and principal in investigation by U.S. Attorney’s Office, SEC and NYSE of alleged improper floor broker trading activities.
    • Advising and acting for an international financial institution regarding SEC and DOJ investigations into municipal securities industry.

Practice Area Highlights

  • Pillsbury is recognized as among the most feared law firms for litigation by BTI Consulting Group.
  • Nationally ranked by Chambers USA: Banking & Finance and by U.S. News/Best Law Firms for Financial Services Regulation, Securitization and Structured Finance Law and Litigation – Banking & Finance.
  • For three consecutive years, Global Investigations Review included Pillsbury on its GIR 100 list. Based on extensive marketplace research, this elite list recognizes the leading cross-border investigations and white collar practices in the world.

View More

  • The American Lawyer named Pillsbury as among the elite law firms recognized for the “Global Dispute of the Year” in the area of Investigations for Swiss banks DOJ investigation and program representation.

Resources

Brochure

Litigation Highlights

2024 MOST FEARED FIRMS

BTI Consulting recognizes Pillsbury as one of the most feared law firms in litigation.

Case Study

(Zhongzhi) Hong Kong Client’s Win Sets Important U.S. Precedent

Related Insights

Alert 04.10.23

Court of Appeals Finds That Insurers May Not Participate in Bankruptcy Negotiations by Invoking an Insured’s Duty to Cooperate

In rejecting an insurer’s attempt to block confirmation of its insured’s bankruptcy plan, the Fourth Circuit found that an insurer may not interject itself into plan negotiations by invoking the duty to cooperate, nor does the insurer have standing to object to an insured’s “insurance neutral” bankruptcy plan.

View More
View All