Wit, Terry L.

Terry L. Wit

Partner

  Biography

Terry Wit is a partner in the San Francisco office.  Focusing on business disputes involving large liability exposures, including multidistrict and complex litigation, Mr. Wit has served as both plaintiff and defense counsel, representing corporations, banks, litigation trustees and individuals in matters concerning a wide range of business torts, audit malpractice, fraud, contract, fiduciary duty, tortious interference, RICO, patent and other claims.  Super Lawyers magazine in Northern California named him as a “Super Lawyer” in business litigation in 2013 and 2014, and previously as a “Rising Star” in 2011 and 2012.

In addition, Mr. Wit serves as the president and chairman of the board of 826 National, a nonprofit organization dedicated to supporting under-resourced students ages 6 to 18 in the development of their creative and expository writing skills.  826 has a network of writing and tutoring centers in eight cities across the United States, which together serve over 31,000 students each year.

  Representative Clients

  • American International Group, Inc.
  • BlueFire Ethanol Fuels, Inc.
  • Dr. Enrico Bondi, Extraordinary Commissioner of Parmalat Finanziaria, S.p.A
  • Deutsche Bank
  • Dorco Company, Ltd.
  • Goodyear
  • IBM
  • LifeScan
  • Pace Shave, Inc.
  • SemGroup Litigation Trust

  Notable Representations

  • Representing the plaintiff SemGroup Litigation Trust in litigation against PricewaterhouseCoopers, LLP related to PwC’s audit failures and breaches of fiduciary duty resulting in the multi-billion dollar collapse of SemGroup, a midstream oil company in Oklahoma.  Defeated several summary judgment motions by PwC; the case settled shortly before trial.
  • Representing Pace Shave, Inc. and various Dorco Company entities as defendants in Massachusetts federal litigation brought by The Gillette Company and The Procter & Gamble Company, involving eleven patents spanning over 250 claims, as well as numerous assertions of trademark and trade dress.  Despite plaintiffs' assertions of intellectual property infringement covering hundreds of millions of dollars in sales of Gillette shavers, we quickly narrowed the issues and obtained a cost-effective global settlement on an expedited basis for our US and Korean-based clients. 
  • Representing Dr. Enrico Bondi, Extraordinary Commissioner of Parmalat S.p.A in three separate $10 billion lawsuits arising out of the largest bankruptcy in European history against various financial institutions and accounting firms, for aiding and abetting Parmalat's insiders in the commission of massive fraud and for auditor malfeasance. We obtained a $150 million settlement against Deloitte & Touche's Italian arm and a $100 million settlement against Bank of America. 
  • Representing an established medical device manufacturer in a dispute with the potential acquirer of a patented product line following failure of the transaction.  Conducted the investigation of the allegations, developed the client’s own counterclaims, and formulated a pre-complaint strategy designed to avoid public litigation.  A confidential mediation was proposed and a settlement was achieved at a steep discount, avoiding significant litigation costs in the process. 
  • Representing IBM in a former employee’s appeal of summary judgment dismissing multi-million dollar employment discrimination claims for lost wages and benefits as well as emotional distress.  Obtained an opinion from the Ninth Circuit Court of Appeals affirming the dismissal in its entirety – without oral argument.
  • Representing a major foreign bank against nine-figure class action claims arising from the insolvency of a prior commercial client of a trust company acquired by the bank.  Achieved a global settlement of claims following years of litigation despite complex and often competing interests both within the defense group and on the plaintiffs’ side (represented by four major plaintiffs’ class action firms).
  • Representing one of the world’s largest automotive industry manufacturers against a foreign plaintiff’s multi-billion dollar tort and civil RICO claims stemming from alleged interference with a joint venture with the Chinese government to build a factory in China.  Obtained dismissal of the complaint in its entirety on remand following plaintiff’s successful appeal of summary judgment previously granted by the district court.

  Practice Areas

  • Bankruptcy & Restructuring
  • Lender Liability & Other Banking Financial Institution Litigation
  • Litigation Representing Plaintiffs
  • Structured Finance & Derivatives Litigation
  • Transnational Litigation

  Education

  • New York University School of Law
    (J.D., cum laude, 2001)
    • Review of Law and Social Change:
      • Board Member
      • Book Review
      • Annotations Editor, 2000-2001
      • Staff Editor, 1999-2000
  • University of Nebraska
    (B.A., Superior Scholar, 1997)

  Admissions

The State Bar of New York; Member, The State Bar of California; United States Court of Appeals: Second Circuit, Ninth Circuit; United States District Court: Southern District of New York, Eastern District of New York, Northern District of California

  Languages

  • French

Professional Activities

  • Member, New York State Bar Association:
    • Commercial and Federal Litigation Section