Global investment banking firm resolves trustee dispute without litigation

Client(s) Global investment banking firm

Jones Day defended a global investment banking firm against claims asserted by a liquidating trustee of a bankrupt entity that had previously engaged our client. The dispute was based on allegations that our client had knowledge of the company's non-compliance with federal healthcare fraud laws and should have taken steps to disclose those issues. The trustee threatened claims of aiding and abetting breach of fiduciary duty, gross negligence, conspiracy, unjust enrichment, negligent undertaking, negligent misrepresentation, fraud, and fraudulent transfer. Jones Day was able to resolve the claim without litigation after the exchange of position papers and mediation.