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Richard Schirtzer, the Head of Complex Litigation at Quinn Emanuel, is one of the most successful big-case lawyers in California. On behalf of large institutional clients suing as plaintiffs, he has obtained verdicts and settlements of over a billion dollars collectively. On behalf of corporate defendants, he has obtained defense verdicts and pre-trial judgments on claims exceeding 800 million dollars collectively. He has substantial experience in litigation involving all types of structured finance products.
United Guaranty Mortgage Indemnity
World Market Center
Triple Five Corp
Mr. Schirtzer is currently defending Charles Schwab Inc. in several cases, including a derivative suit relating to the YieldPlus Fund, a class action relating to the Total Bond Fund and a FINRA arbitration relating to margin liquidations.
Mr. Schirtzer is one of the partners prosecuting the FHFA's multi-billion claims against 16 investment banks relating to the sale of mortgage-backed securities.
Mr. Schirtzer represented United Guaranty Indemnity, both as a plaintiff and as a defendant, in multiple disputes with Countrywide concerning Countrywide’s improper lending practices and its efforts to shift billions of dollars in losses to its insurers.
On behalf of GMAC Commercial Mortgage, Mr. Schirtzer won a complete defense verdict in a suit brought by GMACCM's competitor, Orix Capital Markets. Orix had purchased distressed certificates in a franchise portfolio in the hope of acquiring servicing rights. When Orix was unable to persuade GMACCM to sell the servicing, it commenced a campaign to drive GMACCM out as servicer. When that campaign failed, Orix filed a lawsuit that Mr. Schirtzer convinced the court, at trial, was filed in bad faith.
Mr. Schirtzer co-tried and won a verdict on behalf of Epson before the International Trade Commission. Epson prevailed against over 20 Chinese companies who were knocking off Epson's patented ink cartridges. The ITC enjoined all the defendants and any company from shipping imitation Epson cartridges into the U.S.
Mr. Schirtzer represented General Motors in its highly publicized suit against Volkswagen and Jose Lopez, arising out of the defection of Lopez and several senior GM managers to Volkswagen. In the process, Mr. Schirtzer created new federal unfair competition law by persuading the court to overturn forty years of precedent and recognize a cause of action under the Lanham Act for violation of international unfair competition treaties.
On behalf of Triple Five Corporation, the founding partner of the Mall of America, Mr. Schirtzer formulated the claims that ultimately led a Minnesota federal court to transfer control of the Mall from the Simon Property Group to Triple Five. The case was one of the largest ever filed in Minnesota.
Mr. Schirtzer represented Northrop in a multi million dollar claim for unpaid commission on the sale of sophisticated radar equipment. Mr. Schirtzer succeeded in having the plaintiffs' jury demand tossed out, their RICO claim dismissed, and several other claims decided in Northrop's favor on summary judgment. The Ninth Circuit affirmed the dismissal of the plaintiffs' RICO claim.
In addition to his work in the areas of securities and structured finance litigation, Mr. Schirtzer represents both domestic and international corporations in a wide variety of intellectual property litigation. In over 25 years of practice, Mr. Schirtzer’s clients have never been found liable or paid any money to settle an intellectual property case.