Complex Commercial Litigation
Stone & Magnanini LLP attorneys have a breadth and depth of litigation experience and knowledge that gives the Firm the ability to quickly comprehend, evaluate, and analyze complex business and legal issues, and formulate effective and efficient strategies for our clients to achieve practical business results in a timely manner.
In this era of megasized law firms made up of pigeonholed “specialists,” requiring clients to deal with (and pay for) “teams” of attorneys from different practice areas, Stone & Magnanini attorneys are generalists in the finest sense of the term.Our litigation strategy is genuinely “lean and mean,” our attorneys have broad experience, and our clients attest to the results we achieve by entrusting us with their most challenging, sensitive, and important matters.
As part of its complex commercial litigation experience, Stone & Magnanini LLP’s attorneys have handled a wide variety of complex insurance-related cases. Notably, as partners of Boies, Schiller & Flexner LLP and at Stone & Magnanini LLP, David Stone, Robert Magnanini, and their associates have represented Maurice “Hank” Greenberg and his affiliated companies C.V. Starr & Co. and Starr International Company in several litigations and matters related to AIG. Stone & Magnanini has continued to serve as co-counsel to Boies, Schiller & Flexner in a number of these cases.
Complex commercial litigation matters in which Stone & Magnanini LLP attorneys have participated include:
- representing Maurice “Hank” Greenberg and his companies Starr International Company (SICO) and C.V. Starr & Co. in several complex litigations and investigations in the United States, the United Kingdom, and Bermuda
- serving as co-counsel to Boies, Schiller & Flexner in a successful jury trial defense of Mr. Greenberg and SICO against a multi-billion dollar lawsuit brought by AIG to reclaim AIG stock purportedly held in trust by SICO
- defending Tyco International in a suit brought by the New Jersey Division of Investment resulting in a favorable settlement; in a related civil action brought by dealers of ADT security products, defeated class certification in three out of three cases, and won both trials and appeal
- winning an arbitral award for the YES cable network in the form of a long-term carriage agreement for New York Yankee games with Cablevision with the effect of increasing the YES network’s enterprise value by $1.5 billion
- successfully pursuing a claim against the Madison Square Garden Network to recover the New York Yankees’ television and media rights and enable formation of YES Network
- winning dismissal of $9 billion civil RICO claim brought against Qwest Communications by foreign bankruptcy trustees over alleging accounting improprieties, and settling over 20 opt-out suits for a fraction of the asserted exposure
- represented directors and officers of a company for six years until the claims of mismanagement and fraud were dismissed with prejudice and at no cost to the clients
- currently representing a client and coordinated responses to four separate litigations in New Jersey state court, one in New York state court and concurrently involved in negotiations to preclude the filing of another complaint
- representing a mortgage bank defrauded in a racketeering and flipping scheme to recover millions in losses
Insurance-related matters handled by Stone & Magnanini LLP attorneys include:
- KLLM, Inc. v. Marsh USA, Inc., C.V. Starr & Co. and Insurance Company of the State of Pennsylvania (“ISOP”): won dismissal of lawsuit against insurance broker and insurance carrier alleging fraud, breach of contract, and other claims regarding cancellation of commercial insurance policy
- Teachers’ Retirement System of Louisiana v. Greenberg: shareholder derivative action for return of commissions AIG paid to C.V. Starr & Co., a Greenberg-affiliated insurance company
- Starr International Company (“SICO”) v. AIG: multi-billion dollar litigation seeking constructive trust over AIG stock; jury found in favor of client SICO
- C.V. Starr & Co. v. AIG: litigation alleging that AIG infringed a C.V. Starr service mark
- Allendale Mutual Ins. Co. et al. v. State of New Jersey: represented 31 insurance company members of the Property-Liability Insurance Guaranty Association in action challenging constitutionality of New Jersey law requiring non-auto insurance carriers to pay into fund to bail out state auto insurance fund
- Representing various insurers in product liability cases to recover payments to injured claimants against manufacturers and sellers of defective products
- Represented insurance companies and their insureds in D&O coverage matters and an insured bank defrauded by a RICO scheme