Glenn M. Kurtz
Representation of Anthem in a high-profile action stemming from its proposed US$54 billion acquisition of Cigna Corporation. Anthem is seeking damages from former merger partner Cigna for breach of its best efforts obligation to clear the Merger. Glenn initially procured a TRO enjoining Cigna's termination of the Merger Agreement, and is now pursuing billions of dollars in damages.
Representation of Anthem in a multi-billion dollar lawsuit against its pharmacy benefits manager, Express Scripts, Inc. (ESI), arising from ESI's breaches of its contractual duties to negotiate in good faith to ensure that Anthem receives market pricing for pharmaceutical drugs.
Representation of Dynegy in a putative securities class action suit arising out of Dynegy's successful restructuring in 2011 and 2012. On April 30, 2014, Judge Koeltl in the US District Court for the Southern District of New York dismissed with prejudice all claims asserted against our clients, officers and directors of Dynegy, Inc. Plaintiffs had claimed that defendants' fraudulent misrepresentations caused an 87% drop in Dynegy's stock price from its class-period high.
Ad Hoc Group of Secured Lenders
Representation of the Ad Hoc Secured Group of LightSquared LP Lenders (the Group) in the bankruptcy proceedings of LightSquared Inc. and certain of its subsidiaries, currently pending in the Bankruptcy Court for the Southern District of New York. The Group comprises secured creditors of LightSquared LP, the debtors' operating company and is the most significant creditor constituency in the case. We have represented the Group in all litigation since May 2012. Most recently, together with counsel for the debtors, we succeeded in obtaining a ruling equitably subordinating the debt of a non-insider.
Major League Baseball
Representation of the Office of the Commissioner of Baseball, doing business as Major League Baseball (MLB), in connection with the bankruptcy of the Los Angeles Dodgers baseball club and affiliated entities (the Debtors). At the outset of the proceedings, we successfully represented MLB in connection with defeating an attempt by the Debtors to obtain debtor-in-possession financing. We then successfully blocked the owner of the team, Frank McCourt, from selling the team's media rights. Ultimately we were successful in forcing Mr. McCourt to sell the team through a court-supervised sale process, which resulted in a sale of the club to new owners (a group including Guggenheim Partners and former Los Angeles Lakers star Magic Johnson) for an unprecedented US $2.150 billion.
Pilot Flying J
Representation of Pilot Travel Centers LLC, d/b/a Pilot Flying J, the largest over-the-road diesel provider in the US, as national co-ordinating counsel in more than 20 putative class actions alleging Pilot Flying J withheld rebates or discounts owed to customers based on purchases of diesel fuel. We successfully obtained approval of a nationwide settlement that resolved all the putative class actions. We were also successful in obtaining an order from the Joint Panel on Multidistrict Litigation that consolidated and transferred all the remaining opt out federal cases to a single court in the Eastern District of Kentucky.
Representation of US Foodservice ("USF") and Royal Ahold in multi-district class action litigation involving claims brought on behalf of USF's cost-plus customers seeking billions of dollars in damages. The MDL panel transferred the case, as USF requested, to the US District Court for the District of Connecticut. The allegations include claims for breach of contract and violations of the Racketeer Influenced and Corrupt Organizations Act based on customer rebates or promotional allowances not passed on to customers. We successfully resolved the case through mediation.
Representation of Walter Noel of Greenwich Group (FGG), founder of the largest feeder fund to Madoff, in connection with a consolidated class action proceeding in the United States District Court for the Southern District of New York. Investors in certain FGG funds have asserted direct and derivative claims alleging, among other things, securities claims stemming from the alleged failure of the Fairfield Greenwich Group to perform adequate due diligence on Bernard Madoff's investment operation. After three years of litigation, we negotiated a highly favorable settlement.
Representation of Talbots and two of its officers in the defense of a putative securities fraud class action lawsuit. The plaintiffs claimed Talbots issued false and misleading public statements concealing certain inventory and vendor problems, allegedly causing a 61% drop in Talbots' stock price from its class-period high. We successfully had all claims dismissed.
Indiana public pensions funds and associated lenders
Representation of certain lenders, including Indiana public pension funds, in opposing the Chrysler bankruptcy sale. The case raised numerous issues of first impression, including under the Troubled Asset Relief Program. The case drew substantial global interest and was a featured story in major news media. Glenn handled the expedited trial (after only six days of discovery), then the expedited appeal to the Court of Appeals for the Second Circuit (briefed and argued within two days), and then the temporary stay from the United States Supreme Court.
In re Ahold Securities and ERISA Litigation
Representation of Royal Ahold in In re Royal Ahold Securities and ERISA Litigation, one of the largest multi-district litigation securities fraud cases ever filed. The case arose out of Ahold's disclosure of an approximate US $1 billion overstatement of earnings, which precipitated a 60% drop in stock price. The case raised numerous cutting-edge issues relating to extraterritorial application of the securities laws, the feasibility of certifying a class of foreign shareholders and sophisticated damage theories. It was successfully resolved in mediation.
Leading Lawyer, Chambers USA, 2009–2016
General Commercial Litigation
Leading Individual, Benchmark Litigation, 2007–2016
General Commercial Litigation