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Biography
Michael Lifrak handles a broad range of complex commercial litigation in federal and state courts -- in areas such as antitrust, securities, telecommunications, and partnership law.
Representative Clients
Fidelity Insurance Company
Houlihan Lokey Howard & Zukin
Marsh & McClennan
Sprint/Nextel
Superior National Insurance Group
The Scotts Company
University of Southern California
Notable Representations
Represented The Scotts Company in an antitrust jury trial in the Southern District of New York. Plaintiff alleged an unlawful agreement in restraint of trade and conspiracy to monopolize the consumer market for herbicides and sought $250 million in damages. Obtained a complete defense verdict after four weeks of trial.
Represented a major insurance company facing $135 million exposure for failing to reimburse expenses incurred by a defense contractor in cleaning up groundwater contamination at a major Super Fund site and defending CERCLA actions. Obtained a favorable settlement after four weeks of jury trial.
Represented Plaintiff Superior National Insurance Group and secured a settlement on securities and other claims in excess of $150 million on the eve of trial. Superior National was a holding company that purchased four workers compensation insurance companies from Foundation Health Corporation (now Health Net, Inc.). The core allegation was that Foundation defrauded Superior by not disclosing certain financial and actuarial information in connection with the sale. Obtained an eight-figure settlement from the actuaries and an additional $137 million settlement from HealthNet.
Represented the University of Southern California in a retrial against the plaintiff's claim to lost profits following a remand from the Court of Appeal permitting the plaintiff to pursue this claim. The plaintiff, a dental implant manufacturer, was seeking in excess of $1 billion in lost profits arising out of a failed clinical study on the implant. At trial, plaintiff was not awarded any amount in lost profits.
Represented the outside director of a software company in a class action seeking hundreds of millions of dollars and alleging insider trading and fraud arising out of an accounting scandal. Obtained summary dismissal of the case.
Represented a Plaintiff real estate developer in a partnership dispute concerning one of the largest land development companies in California. Obtained a $52 million settlement on the eve of trial in an action for breach of fiduciary duties.
Represented the CEO of a large investment bank accused of insider trading claims arising from a repurchase of shares. Obtained dismissal of the case against the CEO at the pleading stage. Obtained a favorable settlement for the investment bank shortly thereafter.
Represented a large energy trading company in a variety of litigation arising from the California energy crisis. Obtained an injunction preventing the California Power Exchange from allocating losses to the client based on the defaults of other energy companies. Also obtained an emergency stay of an injunction from the Ninth Circuit allowing the client to exercise its contractual right to terminate the energy contract.
Successfully represented numerous investment banks, brokerage firms, talent agencies, and other companies in employment disputes with former partners and employees.
Successfully represented numerous Fortune 500 and other large companies and executives in dozens of consumer and securities class actions around the country.
