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Rossman, Andrew

Andrew J. Rossman

Partner

andrewrossman@quinnemanuel.com
Direct Tel: +1 212-849-7282
New York
Tel: +1 212 849 7000 Fax: +1 212 849 7100

Andrew J. Rossman is a seasoned trial lawyer with a broad range of experience in complex commercial litigation including derivatives, securities, corporate governance, bankruptcy, energy, partnership, real estate  and international matters.  As lead trial counsel Mr. Rossman has recovered well over $5 billion in settlements and judgments for private equity firms and their portfolio companies, hedge funds, public companies, officers and directors, and board committees and creditors' committees in high-profile disputes in state and federal courts and arbitral tribunals across the country and abroad.

Currently, Mr. Rossman represents KKR in securities litigation arising out of the Sun Edison bankruptcy, Bloomberg in a licensing dispute with UBS, Lehman Brothers International Europe in a derivatives dispute with Assured Guaranty, Standard Industries and certain affiliates in a litigation with Ashland over the sale of a multibillion dollar chemical company and New York State Assembly Speaker Carl Heastie in defending the constitutionality of a New York statute creating a commission on prosecutorial conduct.

Previously, Mr. Rossman served as lead counsel for the Lehman Brothers Creditors' Committee in multibillion lawsuits against JPMorgan, Citibank, and Credit Suisse, including a four month trial against Citibank culminating in a $1.74 billion settlement; was trial counsel for Access Industries, defeating multibillion dollar fraudulent conveyance and related claims arising out of the LyondellBasell bankruptcy; was lead trial counsel for First Reserve, defeating multibillion dollar breach of fiduciary duty and related claims arising out of the Sabine bankruptcy; was lead counsel for private equity firm MHR, successfully defeating Carl Icahn in courts in New York and Canada over his hostile takeover attempt of Lions Gate Entertainment; won the pivotal trial in the Refco bankruptcy as lead counsel for its largest creditor; was lead counsel for Chris Burch, successfully resolving a highly publicized dispute over the Tory Burch company; and argued and won a unanimous decision in the United States Supreme Court on a First Amendment issue.

In October 2017, Mr. Rossman was named “Litigator of the Week” by The AmLaw Litigation Daily for the $1.74 billion Citigroup settlement with Lehman Brothers and was part of the team awarded “Trial Group of the Year” by Law360 in January 2018.

  • Lead counsel to Official Creditors Committee of Lehman Brothers Holdings, Inc. in litigating objections to claims by Citibank and affiliates related to the close-out and valuation of nearly 30,000 derivatives following Lehman’s bankruptcy in September 2008.  Under governing ISDA Master Agreements, Lehman’s trading counterparties were directed to determine the value of their derivatives trades following Lehman’s bankruptcy.  The objections seek a significant reduction to the amounts claimed by Citibank, which total more than $2 billion, relating to approximately thirty thousand derivatives trades on a variety of grounds including that Citibank failed to act in a commercially reasonable manner when valuing the derivatives in question. After almost five years of fact and expert discovery multiple summary judgment and other pre-trial motions, trial proceeded for 42 days after which the parties reached a settlement that will return $1.74 billion to Lehman’s creditors.
  • Trial counsel for Access Industries defending multi-billion fraudulent conveyance and preference claims arising out of the leveraged buyout of LyondellBasell.  Following a three week trial, the bankruptcy court rejected essentially all of the litigation trustee's claims, issuing a comprehensive opinion making credibility findings in favor of Access' experts and against the trustee's.
  • Won two week trial in Bankruptcy Court for the Southern District of New York as lead counsel for private equity sponsor First Reserve, defeating multi-billion dollar breach of fiduciary duty and related claims asserted by the Creditors Committee arising from the merger of Sabine Oil & Gas with Forest Oil Corporation and the subsequent Chapter 11 of filing of the combined entity in the wake of the global collapse in oil prices.
  • Represented Lehman Brothers Holdings Inc. and the Official Committee of Unsecured Creditors of Lehman Brothers Holdings Inc. in objections to claims by JPMorgan Chase Bank, N.A. and certain of its affiliates against LBHI, including an objection challenging the commercial reasonableness of the largest disposition of securities collateral we are aware of ever having taken place, resulting in a settlement through which JPMorgan agreed to pay LBHI $797.5 million.
  • Represented the Official Committee of Unsecured Creditors of Lehman Brothers Holdings Inc. in litigation against JPMorgan Chase Bank, N.A. concerning collateral JPMorgan obtained from Lehman pre-petition and the close out of derivatives transactions between the two institutions post-petition, resulting in a settlement that included a cash payment by JPMorgan to the Lehman estate of over $1.4 billion.
  • Currently serving as lead counsel for the Lehman estate and the creditors committee in over a billion dollar dispute with Credit Suisse related to the closeout and valuation of tens of thousand of derivative trades.  This matter is scheduled for trial in October 2018.
  • Won $70 million arbitration award as lead counsel for Occidental Petroleum in dispute against SandRidge Energy arising out of gas treatment plant and related long term contracts. Also succeeded in dismissing SandRidge’s related claims in Federal Court for the credits arising out of the same contacts.
  • Currently serving as lead counsel for affiliates of the Heyman family in parallel actions pending in Delaware and New Jersey adverse to Ashland, Inc. arising out of the $3.2 billion sale of chemical manufacturer International Specialty Products, Inc. and resulting responsibility for environmental liabilities related to historical operations.
  • Currently defending a leading hedge fund in a shareholder class action arising from a going private transaction for a portfolio company.  After being retained specifically for trial, achieved a settlement of all claims, subject to court approval.
  • Currently advising the board and top management of a financial technology company in all pending disputes, including regulatory inquiries and shareholder litigation.  Retained to conduct arbitration against former executive, achieved a settlement on the eve of the hearing.
  • Successfully defended leading roofing and building materials manufacturer Building Materials Corporation of America (d/b/a GAF) in nationwide consumer class actions relating to allegedly defective decking products.  Won MDL motion to consolidate all claims in D.N.J. and after significant motion practice and discovery achieved a global settlement that was approved by the court.
  • Won temporary restraining order for Giorgio Armani Corporation against real estate developer SL Green over Armani’s flagship Madison Avenue retail store, leading to settlement allowing Armani to remain in the store long term.
  • Successfully represented MetroPCS Wireless, Inc. in a FINRA arbitration against Merrill Lynch.  MetroPCS brought fraud and related claims arising out of Merrill’s sale of over $100 million of auction rate securities comprised of certain tranches of collateralized debt obligations, ultimately achieving a settlement on favorable terms prior to the hearing.
  • Successfully represented VeriSign, Inc. in a suit brought by a leading securities class-action plaintiffs’ firm alleging violations of Section 10(b) and 20(a) of the Exchange Act, and Rule 10b-5.  The firm went on the offensive by filing an immediate motion to dismiss prior to appointment of lead plaintiff and by challenging plaintiff’s use of investigators and within a matter of months persuaded plaintiff to abandon the case and voluntarily dismiss its claims with prejudice.
  • Represented Sabine Oil & Gas and affiliates in connection with shareholder class action pending in New York Supreme Court arising out of publicly announced transaction with Forest Oil.
  • Represented Chairman of Leap Wireless in connection with shareholder class action lawsuit pending in San Diego Superior Court arising out of publicly announced acquisition by AT&T, which recently settled on favorable terms.
  • Successfully represented J. Christopher Burch and C. Wonder in Delaware Chancery Court action against Tory Burch and the directors of Tory Burch LLC asserting breach of fiduciary duty claims in the context of a proposed sale of equity interests in this multi-billion dollar fashion brand.  Achieved a highly favorable settlement in less than four months after winning motion for expedited discovery and proceedings, enabling Mr. Burch both to consummate a sale of his interests in Tory Burch LLC and to continue to operate his new fashion brand, C. Wonder.
  • Lead trial counsel for MHR Capital Management in its successful defense of litigation brought by Carl Icahn as part of his hostile takeover bid for Lions Gate Entertainment Corp.  In the span of two months, won a trial in British Columbia defeating Icahn’s shareholder oppression claim (later affirmed on appeal) and won a preliminary injunction hearing in New York defeating his request to enjoin the voting of MHR’s shares.
  • Lead counsel for Pitney Bowes Inc. in defense of Rule 10b-5 securities class action lawsuits pending in the District of Connecticut.  Won motion to dismiss all claims, with prejudice, after taking over the case from previous counsel.
  • Special counsel to G-I Holdings (f/k/a GAF) in estimation litigation to value hundreds of thousands of asbestos lawsuits.  Tried and won contested confirmation hearing, defeating the objection of the United States Government, and allowing the nation’s largest roofing manufacturer to emerge from chapter 11 free of asbestos liability.  (Bankr. D.N.J.)
  • Tried four-week arbitration hearing against a major broker dealer challenging the method of terminating and valuing a swap transaction under the 1992 ISDA Master Agreement, resulting in a successful settlement mid-hearing.
  • Lead counsel for major Indian IT firm, Satyam Computer Services Limited, in fraud and breach of contract suit brought by former customer, Upaid Systems, Ltd.  (E.D. Tex.), coordinating parallel proceedings in London and ultimately achieving a global settlement after a four day mediation.  Following settlement, won summary judgment in New York Supreme Court enforcing settlement agreement and declaring Upaid to be responsible for tax liability arising from settlement proceeds.
  • Counsel for court-appointed Examiner in Dynegy Chapter 11.
  • Counsel for VR Capital in lawsuit brought in New York Supreme Court alleging fraud against Troika Dialog arising from investment in failed Russian financing company.  Argued and won First Department appeal on personal jurisdiction and forum non conveniens issues and obtained successful settlement.
  • Obtained orders granting Section 1782 discovery on behalf of Rusal Aluminum from Bank of New York and Trafigura in the Southern District of New York and the District of Connecticut.
  • Argued before the United States Supreme Court for the Manhattan Democratic Party in Lopez Torres v. New York State Board of Elections and won a unanimous decision establishing the constitutionality of New York's convention system for electing state Supreme Court justices.  The New York Law Journal profiled the Lopez case as one of the Top Cases of 2004.
  • Won multi-million dollar jury verdict in hedge fund partnership dispute in New York Supreme Court.  (Sup. Ct. NY Cty.)
  • Trial victory on behalf of international fund manager in $800 million dispute with failed brokerage firm Refco, Inc.  (Bankr. S.D.N.Y.)
  • Trial victory for the Official Creditors' Committee of Loral Space and Communications in dispute over enterprise valuation of leading global satellite business.  (Bankr. S.D.N.Y.)
  • Arbitration victory on behalf of major global pharmaceutical manufacturer in $120 million joint venture dispute.  (CPR arbitration)
  • Won motion to dismiss in federal securities lawsuit against Vimpel Communications, the second largest wireless carrier in Russia.  (S.D.N.Y.)
  • Won motion to dismiss in federal securities lawsuit against Great Wolf Resorts, a family resort chain.  (S.D.N.Y.)
  • Successfully defended Lukoil in tender offer litigation arising from its acquisition of Getty Petroleum, winning dismissal of lawsuit brought by rival bidder.  (Sup. Ct. NY Cty.).
  • Successfully defended Vermont Teddy Bear, Inc. in shareholder lawsuits arising from going private transaction.  (Sup. Ct. Nassau Cty.)
  • Successfully defended Metals USA in shareholder litigation arising from going private transaction.  (DE Chancery Ct.)
  • Represented Apollo Advisors and its principals for over a decade in securities and shareholder litigation and bankruptcy proceedings relating to many portfolio companies, including Samsonite, Healthco, United Rentals, Rare Medium and Linens ‘n Things.
  • Defended Integrated Resources limited partnerships and principals in state and federal securities litigation.
  • Litigation counsel to Official Creditors’ Committee of Solutia, Inc.  (Bankr. S.D.N.Y.)
  • Lead counsel for public biotech company in six-day arbitration hearing against terminated CEO.  (AAA)
  • Lead counsel for JSC Surgutneftegaz, a major Russian oil company, in a putative securities fraud class arbitration commenced by Harvard University.  (AAA class and international arbitration)
  • Lead counsel for a major Argentine natural gas supplier in multi-hundred million dollar dispute with a Chilean buyer regarding the impact on long-term supply contracts of dramatic changes in Argentine export policy.  (ICC arbitration)
  • Successfully defended senior manager of PWC in SEC investigation and enforcement litigation arising out of bankruptcy of Allegheny Health Education and Research Foundation.  (E.D.Pa.)
  • Harvard Law School
    (J.D., 1992)
  • Princeton University, Woodrow Wilson School of Public
    and International Affairs

    (A.B., cum laude, 1989)
The State Bar of New York; United States Supreme Court; United States Courts of Appeals: Second Circuit, Third Circuit, Sixth Circuit; United States District Court: Southern District of New York, Eastern District of New York
  • Akin Gump Strauss Hauer & Feld LLP:
    • Partner, Co-Head of Litigation
  • Ranked in New York General Commercial Litigation, Chambers USA 2014
  • Named a New York “Super Lawyer” by SuperLawyers Magazine from 2007-2018
  • Mentioned in The American Lawyer's Litigation Department of the Year 2008