Corey Worcester acts as lead counsel for clients on some of the largest and most complex “bet the company” litigations in the country. His broad commercial litigation experience is complemented by his ability to take cases to trial when the need arises—something that he has done more than twenty times. Mr. Worcester’s practice includes a variety of complex commercial actions, including dozens of class actions, multidistrict litigations, bankruptcies, and other multi-party and multi-forum commercial matters, including arbitrations, mediations and regulatory proceedings.
Throughout his career, Mr. Worcester has represented corporations, insurance companies, officers and directors, financial institutions, “Big Four” accounting firms and other clients in securities and ERISA class actions, actions against short-sellers, derivative actions, antitrust litigation, insurance disputes, contract disputes, bankruptcies, and other matters in federal and state courts. Additionally, he has represented clients in connection with proceedings and investigations before the United States Senate, United States House of Representatives, Securities and Exchange Commission, Federal Trade Commission, FINRA, numerous states attorneys general, and other agencies and regulatory bodies.
Mr. Worcester is Co-Chair of Quinn Emanuel’s Insurance Litigation group, representing numerous insurance companies in nine and ten figure litigations arising from coverage disputes, business disputes touching on their insurance practices, and regulatory matters. Mr. Worcester is also the Chair of Short Seller Defense Litigation. In that role, he oversees Quinn Emanuel’s market leading short seller defense practice, which helps companies respond to and address attacks on their share price by short sellers. Quinn Emanuel has advised numerous companies, working with executives, investigators, and public relations firms behind the scenes, or out front with regulators and in offensive and defensive litigations.
Mr. Worcester has been named a "Super Lawyer" by New York Super Lawyers in the separate fields of antitrust, banking, and business litigation. In 2015, Mr. Worcester was named Multidistrict Litigator of the year by Corporate LiveWire magazine, and in 2017 was named a “Top Attorney Under 40” in the area of insurance litigation by Law360. He is also recognized by Legal 500 as a recommended lawyer for insurance litigation.
In addition to his business litigation practice, Mr. Worcester maintains an active pro bono practice. Among his pro bono accomplishments are a jury trial on an issue of first impression under the Americans with Disabilities Act, securing a settlement for a prisoner who was “tased” and injured while already in police custody, sitting on the board of directors of the Columbia Business Law Review, and representing Marissa Alexander in a high profile “stand your ground” case in Florida that attracted national media attention.
- Alpha Natural Resources
- Amira Nature Foods, Inc.
- Burford Capital
- Charles Schwab
- China Construction America
- Corcept Therapeutics
- E*TRADE Financial Corporation
- Faraday Future
- General Motors
- Haymon Sports
- Infrassure Ltd.
- Medicis Pharmaceutical Corp.
- National General Insurance Co.
- National Indemnity Company
- National Union
- Sandoz AG
- Rio Tinto
- United Parcel Service
- Represented Haymon Sports and its CEO, Alan Haymon, the most prominent boxing manager in history, in a $300 million antitrust lawsuit by Oscar De La Hoya and his Golden Boy promotion companies. The plaintiffs alleged that Haymon attempted to monopolize the market for promotion of Championship-Caliber Boxers through a “tie-out” clause in their management contracts, as well as a series of exclusive contracts with free network television and basic cable networks. On summary judgment, we demonstrated to the Court that Golden Boy’s claims were factually and legally meritless, and the Court agreed, dismissing all antitrust claims with prejudice and throwing the case out.
- Successfully represented three broker-dealers and an individual in an antitrust investigation brought by the attorneys general of three states, alleging a “hub-and-spoke” conspiracy to control retail order flow directed to a particular, national exchange.
- Represented Travelport, a leading provider of critical transaction processing solutions and data to global travel companies, in antitrust litigation brought by American Airlines alleging monopolization and conspiracy claims under the antitrust laws.
- Represents hiQ, the leading provider of “people analytics”, in litigation against LinkedIn alleging that unfair trade practices by LinkedIn decimated the market for people analytics, leaving LinkedIn with an unchallenged market position.
- Represents Fareportal in litigation against JetBlue alleging that JetBlue is engaged in anticompetitive acts against online travel agents for the purpose of increasing prices on consumers in numerous markets where JetBlue has achieved market power.
General Commercial Litigation
- Achieved dismissal of breach of contract claims against E*TRADE Financial Corporation brought by Harvey Keitel in a dispute about whether E*TRADE had in fact retained Mr. Keitel for a series of commercials. In a series of precedential rulings in New York state courts, the trial and appellate courts dismissed Mr. Keitel’s claims in rulings that now define when a long-form agreement is needed before a term sheet may be enforced.
- Represented Medicis Pharmaceutical Corp. in a complex commercial dispute with a former contract partner relating to the partner’s submission of an ANDA in violation of the terms of a pre-existing Distribution and Supply Agreement. The parties settled the case on the eve of trial on terms favorable to our client.
- Achieved a total victory representing an automobile manufacturer in an expedited bet-the-company arbitration involving more than $800 million in venture capital.
- Successfully represented a logistics company with more than 10,000 employees in a “bet-the-company” dispute with their largest vendor. The dispute was ultimately resolved by reworking the vendor’s contract in a way that allowed the company to continue operations.
- Obtained dismissal of claims against Access Industries in litigation between shareholders arising out of a corporate governance dispute between the shareholders of a company developing an oil field in Siberia. The dispute was litigated in Russia, the Southern District of New York, and, ultimately, New York State Court. It ended with a full dismissal for Access Industries.
- Represented Billy Hunter, the former director of the National Basketball Players Association, in a corporate governance dispute arising out of his time as director of the NBPA that attracted national media attention.
- Represent Corcept Therapeutics with respect to two derivative actions filed in Delaware Chancery Court related to Corcept’s sales practices concerning the drug Korlym. The derivative actions track accusations made by short sellers in an attack on Corcept.
- Represented Crestview, a private equity fund, through trial in Delaware Chancery Court in a dispute arising out of portfolio company corporate governance and exit rights.
- Successfully advised Blackwells Capital, a New York firm owning 4.3% of SuperValu, with respect to a shareholder dispute and proxy fight.
- Represented E*TRADE and its board of directors with respect to the board nomination rights of an E*TRADE investor.
- Represented a group of investors in a “control fight” with Harte Hanks, Inc., ultimately helping to secure a majority of the board of directors for the investor group.
- Represented a hedge fund in connection with a “control fight” concerning two seats on the board of directors of a company in which they owned 10%. The situation was resolved by placing the directors nominated by our client.
- Represent National General in two derivative actions brought against Wells Fargo, in which National General was alleged to have aided and abetted breaches of fiduciary duty by the board of directors of Wells Fargo against Wells Fargo’s shareholders. The allegations arise, in part, out of Wells Fargo’s provision of automobile insurance to customers, a practice for which National General acted as a vendor.
- Represent the board of directors of Vivint Solar in derivative litigation in Delaware Chancery Court arising out of allegations concerning Vivint Solar’s sales practices.
- Have represented dozens of companies both seeking and defending against books and records requests, also known as “Section 220 Demands”, under Section 220 of Title 8 of the Delaware Corporate Code and its equivalents in other states
- Have advised the boards of directors of dozens of companies with respect to corporate governance and litigation issues.
- In a case of first impression in the reinsurance industry, obtained affirmance from the Second Circuit in Infrassure Ltd. v. First Mutual Transportation Assur. Co. (Second Circuit) in a declaratory judgment action involving property damage claims suffered as a result of Superstorm Sandy. The cedent sought to compel arbitration under the London Arbitration Clauses, where the certificate also contained a New York arbitration clause. The Second Circuit rejected the cedent’s argument that “UK and Bermuda Insurers Only” should be disregarded under the “Titles Clause” of the Reinsurance Certificate, which provided that the titles of the certificate’s provisions have no meaning.
- Represented National General in nationwide class actions alleging RICO violations, arising out of Wells Fargo’s lender placed insurance program.
- Obtained summary judgment dismissing claims for conspiracy against reinsurer National Indemnity in Ford Motor Co. v. National Indemnity (E.D. Va.), a case where plaintiff is challenging a loss portfolio reinsurance structure.
- Obtained an arbitration victory, confirmed in court, on behalf of HDI-Gerling. The arbitration concerned the handling of hundreds of claims under a “batch” policy, with the potential losses totaling nearly $100 million.
- Represented National Union Fire Insurance Co. in coverage litigation arising out of Boston’s infamous “Big Dig” tunnel collapse. The matter was resolved confidentially before trial. National Union v. Modern Continental Construction Co.
- Advised a large insurance carrier with respect to privilege issues arising out of its implementation of a “big data” program across its various business units.
Mergers and Acquisitions Litigation
- Obtained dismissal for Sandoz AG, Sandoz International GmbH, and two individuals in state court action arising out of allegations of misrepresentation, breach of a merger agreement, and fraudulent inducement following Sandoz’s purchase of Oriel Therapeutics, Inc.
- Represented Access Industries and its subsidiaries in shareholder class action litigation arising out of Access’ purchase of Warner Music Group. Successfully negotiated a dismissal with prejudice for Access Industries and its subsidiaries.
- Represented Pure Magenta LLC, a subsidiary of GIC in seminal “busted deal” litigation in Delaware Chancery Court arising out of the Covid-19 pandemic. The litigation addressed novel issues of the “ordinary course” provisions in merger agreements as well as “material adverse effects clauses.” Pure Magenta defeated a motion for an expedited trial, and their counterparties’ claim for specific performance forcing Pure Magenta to close on a significant investment in a stake in AmEx Global Business Travel, which experienced financial turbulence as a result of the pandemic.
- Represent Quantstamp in securities class action litigation alleging that Quantstamp failed to disclose that its “cryptocurrency” was actually a security. The litigation is one of several filed on similar facts in the S.D.N.Y as part of an attack by the plaintiffs’ bar on the entire industry.
- Represent Rio Tinto in securities class action litigation alleging that Rio Tinto failed to disclose that the progress of the underground development of Oyu Tolgoi was not proceeding as planned.
- Won dismissal for Amira Nature Foods, one of the leading producers of basmati rice in the world, in securities class action litigation alleging that Amira overstated its Indian-produced basmati rice exports and engaged in undisclosed related party transactions. The allegations were based on an attack by short-sellers against Amira.
- Won dismissal of E*TRADE securities in class action litigation arising out of allegations of High Frequency Trading. The claims arose following the publication of the book “Flash Boys” by Michael Lewis, which included, among other things, an attack on the practice of accepting payment for order flow.
- Won dismissal for E*Trade of 10(b)(5) claim in S.D.N.Y. Court dismissed claim against E*Trade even though other courts had refused to dismiss similar claims against E*Trade’s competitors.
- Won dismissal for E*Trade under SLUSA of state law claims alleging that E*TRADE breached its investor agreements by routing customer orders in exchange for “payment for order flow.”
- Won dismissal for Sandoz AG, Sandoz International GmbH, and two individuals in federal securities action arising out of allegations of misrepresentations concerning Sandoz’s purchase of Oriel Therapeutics, Inc. The motion to dismiss was granted on an issue of first impression concerning the standing of a shareholder representative to act on behalf of a group of shareholders and led to a change in the industry concerning how such agreements are drafted.
- Represent National General in securities class action litigation relating to purported misstatements related to National General’s disclosures concerning lender placed insurance.
- Represent Corcept Therapeutics in securities class action litigation relating to purported misstatements concerning sales practices.
Short Seller Defense Work
- On behalf of Amira Nature Foods, filed an action against the short-seller Prescience Point, alleging defamation and trade libel. It was the first action of its kind to survive a motion to dismiss in New York. The case settled shortly after Amira’s motion to dismiss victory.
- Represented Burford Capital with respect to market manipulation defense against short sellers.
- Represent Corcept Therapeutics with respect to market manipulation defense against short sellers.
- Represented Amira Nature Foods, Inc. with respect to offensive and defensive litigation.
- Represented automobile manufacturer with respect to repeated attacks by short sellers.
- Represented Canadian waste management company with respect to attacks by short sellers.
- Antitrust & Competition
- Lender Liability & Other Banking Financial Institution Litigation
- Class Action Litigation
- Insurance & Reinsurance Litigation
- Intellectual Property Litigation
- Investment Fund Litigation
- Product Liability & Mass Torts Litigation
- Securities Litigation
- Transnational Litigation
- Investigations, Government Enforcement & White Collar Criminal Defense Practice
- Crisis Law & Strategy Group
- Shareholder Activism
- Securities Enforcement Defense Practice
- Columbia Law School
(J.D., Harlan Fiske Stone Scholar, 2002)
- Columbia Business Law Review:
- Sr. Articles Editor (2001-2002)
- Member, Board of Directors (2010-present)
- Columbia Business Law Review:
- Cornell University - School of Industrial and Labor Relations
- The State Bar of New York
- Supreme Court of the United States
- United States Court of Appeals
- Second Circuit
- Ninth Circuit
- United States District Courts
- Eastern District of Michigan
- Southern District of New York
- Eastern District of New York
- United States Tax Court
- Howrey, LLP:
- Counsel, 2009-2011
- Counsel, 2009-2011
- Cravath, Swaine & Moore, LLP:
- Associate, 2002-2009
- Named by SuperLawyers as a “super lawyer” in the New York Metro area in antitrust, banking, and business litigation.
- Named by Corporate LiveWire as the Multidistrict Litigator of the year.
- Named by Law360 as a “Top Attorney Under 40” for insurance litigation.
- Named by Legal 500 as a recommended lawyer for insurance litigation.
- Spoke on panel on “Future of Litigation Funding” at “The Litigation Funding Conference” in New York City on April 28, 2017. The panel was moderated by Roy Strom of the American Lawyer Magazine, and included Ryan Newell of Connolly Gallagher, Jim McCarroll of Reed Smith LLP, and Justin Bart of Hogan Lovells.
- Delivered CLE on insurance coverage issues on June 5, 2019: Insurance Coverage for Manufactures with Consumer or Product Liability Claims—Strategies and Practical Guidance from Insured and Insurer Perspectives
- “U.S. Outlook: Insurance Coverage Questions Amid Covid-19 Outbreak”
- “When the Door Hits You On the Way Out: The Southern District of New York Warns Corporate Directors They May Be Liable For the Necessary and Foreseeable Acts of Their Successors”
- “Congress Expands the SEC’s Disgorgement Powers . . . In a Defense Spending Bill”
- New York City Bar
- Federal Bar Council
- American Bar Association (member of Professional Liability Litigation Committee)