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David Elsberg
New York Office Tel: 212-849-7000 Fax: 212-849-7100 davidelsberg@quinnemanuel.com Practice Areas Banking and Financial Institution Litigation Domestic and International Arbitration & Mediation Employment Litigation and Counseling Insurance and Reinsurance Litigation Insurance Recovery Investment Fund and Fund Advisor Litigation Education
Harvard Law School (J.D., magna cum laude, 1995)
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Biography
Mr. Elsberg has represented hedge funds, broker-dealers, computer companies, telecommunications companies, insurance companies, officers/directors and national law firms in complex litigations in state and federal courts and arbitrations nationwide.
Mr. Elsberg recently served as a faculty member and lecturer at the New York City PLI conference, “Response to Ponzi Schemes: Alternative Investment Funds Under Scrutiny." Representative Clients
Washington Mutual, Inc. Notable Representations
Currently special counsel to Washington Mutual, Inc. in its multi-billion dollar lawsuit against JPMorgan Chase concerning the forced sale of WaMu, which involves allegations of billions of dollars in alleged preferences and fraudulent transfers.
Currently representing two insurance companies in a lawsuit seeking tens of millions of dollars from Berkshire Hathaway's National Indemnity Company ("NICO") alleging that NICO fraudulently induced the insurance companies to buy a business based on misrepresentations concerning the standards that would be followed in handling insurance claims.
Currently representing an AIG subsidiary, United Guaranty, in a lawsuit alleging that Countrywide (now part of Bank of America) misrepresented the underwriting standards of the loans it insured, fraudulently inducing the AIG subsidiary to insure more than $1 billion in subprime mortgage loans.
Currently representing hedge funds against major financial institutions in FINRA arbitrations concerning derivatives (equity swaps), options, and improper liquidation of more than $1 billion in assets.
Represented a private equity fund that invested in the Tremont/Rye Select feeder fund, which invested in Madoff. Our representation included not only advising our client regarding its rights, remedies, and potential claims to recover its losses, but also protecting our client's interests against any potential clawback actions by the Madoff Trustee and against any potential claims against our client by its own investors.
Represented Nokia Corp. against Qualcomm Inc., in a multi-billion dollar patent and contract dispute concerning the technology used in mobile telephones worldwide, which included arbitrations before the American Arbitration Association, court actions in Delaware, Wisconsin and Texas, and numerous additional proceedings worldwide including before the International Trade Commission. See 7/24/08 BusinessWeek, "Why Qualcomm Folded to Nokia: Qualcomm Struck A Patent Deal With Nokia When It Seemed a Delaware Court Wouldn't Go Its Way" (describing the case as the "longest running, highest-stakes poker game in the history of the mobile industry").
Represented AIG in a multi-pronged dispute with former AIG CEO Maurice "Hank" Greenberg, C.V. Starr & Co., Inc. and various Starr affiliates concerning the ownership of more than $1 billion in insurance and reinsurance business – including multiple federal and state court actions and arbitrations involving issues of contract, insurance, agency, corporate governance, employment and trademarks. All sixteen matters were settled globally.
Represented Yukos Finance B.V. and Yukos International (UK) Ltd. in chapter 15 case of Yukos Oil Company.
Represented a former director of a Canadian publicly-traded telecom company in the GT Telecom Litigation against breach of fiduciary duty and other claims by JPMorgan Chase, as Indenture Trustee, on behalf of bondholders holding more than $700 million in bonds. All claims were dismissed.
Represented a preeminent national law firm against claims by a producer of major motion pictures that the law firm allegedly failed adequately to investigate and warn the client of risks involved in the underlying transaction. All claims were dismissed.
Represented one of the underwriters in the In re Worldcom, Inc. Securities Litigation and settled on favorable terms.
Represented the Knicks against former coach Larry Brown in a $40 million dispute concerning the termination of Mr. Brown's employment, which was arbitrated before NBA Commissioner David Stern. See 11/09/06 L.A. Times 7 (reporting that the parties had settled and the "the payout is $22.5 million less than the $41 million that remained on the five-year, $50-million contract Brown signed in July 2005 with the Knicks"). |
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