Below is a piece by the American Lawyer. Top Story of the day.
TOP STORY November 9, 2010
The Am Law Litigation Daily – Did Goldman Make Bad Gamble With Arbitration Award?
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Reuters: Goldman loses bid to toss record Bayou award
Here is a piece from Reuters on the Firm’s recent win against Goldman Sachs.
Goldman loses bid to toss record Bayou award 3:46am EST
By Jonathan Stempel
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NY Times: Judge Upholds Award Against Goldman
Below is a piece from the NY Times’ DealBook about Judge Rakoff confirming the $20.6 million arbitration award against Goldman Sachs, the largest arbitration award ever rendered against the firm.
DealBook – A Financial News Service of The New York Times November 8, 2010, 11:29 am Judge Upholds Award Against Goldman
A federal judge has denied a request by Goldman Sachs to throw out a record arbitration award levied against the Wall Street firm earlier this year.
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NY Times: In Clearing Bayou, Quagmire for Goldman
Below is a piece from the front page of the October 23, 2010 business section of the New York Times regarding the firm’s $20.6 million arbitration award against Goldman Sachs, the largest customer arbitration ever rendered against Goldman.
DealBook – A Financial News Service of The New York Times October 21, 2010, 8:38 pm In Clearing Bayou, Quagmire for Goldman
By SUSANNE CRAIG
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Ross Intelisano Named to 2010 New York Super Lawyers List
New York Super Lawyers, a publication of The New York Times Magazine, has named Ross B. Intelisano as one of New York’s top Securities Litigation attorneys in their 2010 publication. The list of Super Lawyers recognizes lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement in their respective fields. Super Lawyers’ selection process is a vigorous multi-phase rating process based on peer nominations and evaluations, combined with third-party research. Their selection process has been recognized by bar associations and courts across the country.
Ross Intelisano is the only attorney on the 2010 New York Super Lawyers top Securities Litigation list who primarily represents institutional and individual investors in securities arbitration.
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Madoff Trustee To Bring Clawback Actions Against Victims
Today an article appeared in the Wall Street Journal (“WSJ”) indicating that the Trustee for the Bernard L. Madoff Investment Securities liquidation, Irving Picard, intends to sue 1,000 Madoff victims in clawback actions. The clawback actions will be brought through an adversarial proceeding in the Bankruptcy Court before the Honorable Judge Lifland. Mr. Picard stated that he will likely sue what he has incorrectly described as “net winners.” A copy of the article is available with an online subscription to the WSJ here. You can also find some commentary on the story here.
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Brooklyn Law School Mag Features Ross Intelisano
Below is a profile of Ross Intelisano from the Spring 2010 edition of the Brooklyn Law School Magazine BLSLaw Notes.
BLSLawNotes
The Magazine of Brooklyn Law School | Spring 2010
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Goldman Must Pay Some Bayou Losses – New York Times
Below is a New York Times Piece about Bayou v. Goldman Sachs
Goldman Must Pay Some Bayou Losses By LOUISE STORY and GRETCHEN MORGENSON Goldman Sachs has been ordered to pay $20.58 million to creditors of a failed hedge fund to settle claims that the bank helped the fund perpetrate a Ponzi scheme.
The award represents the first time that a bank has been held accountable for a Ponzi scheme because of its role as a middleman.
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Goldman Told to Pay Bayou Fund Creditors – WSJ
Below is the Wall Street Journal piece regarding Bayou v. Goldman Sachs.
JUNE 26, 2010
Goldman Told to Pay Bayou Fund Creditors
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Rich & Intelisano Wins Largest Arbitration Award Ever Rendered Against Goldman Sachs – $20.5 Million
Rich & Intelisano, LLP won a $20.5 million arbitration award against Goldman Sachs related to the Bayou hedge fund Ponzi scheme. The award is 100% of the compensatory damages requested. It is the largest arbitration award ever rendered against Goldman and the sixth largest customer arbitration award against any Wall Street firm. It is also the first win in any court or arbitration forum by investors against a clearing or prime broker related to a hedge fund Ponzi scheme based upon fraudulent transfer theories.
Partner John Rich masterminded the case, and tried it together with partner Ross Intelisano, with significant help from Matt Woodruff, Diane Mall Sammarco and Eric Clem of our office.
The award is on Finra’s website. The Firm represented the Bayou Creditors’ Committee in the 18 day arbitration hearing. The three arbitrator panel held over 13 pre-hearing sessions and 36 hearing sessions in 2008 through 2010.