ShimshonBalanson (Shim)

Partner

Cleveland + 1.216.586.0614

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Shim Balanson represents some of the world's largest financial institutions in structured products and commercial litigation in state and federal courts. He represents clients in significant cases involving complex financial products, such as residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs). He also has experience representing clients in consumer finance and securities-related litigation, as well as regulatory agency investigations.

Shim's recent representations have focused on defending financial institutions against cutting-edge claims challenging industry practices and established financial products, as well as defending a financial services company in a data breach putative class action arising from a large and sophisticated cyber attack. Exemplar matters Shim has handled include defending trustees in a class action and several other significant cases brought by investors in RMBS, a public accounting client in multiple litigations and a regulatory investigation relating to its attest work for a failed commercial mortgage lender, and a financial institution client in a class action concerning the manner in which it assesses its checking account overdraft fees.

Shim also has a wealth of counseling and advisory experience, including on issues relating to environmental, social, and governance (ESG) matters.

Shim also has dedicated time to pro bono matters. He has represented clients seeking Holocaust reparations as part of Jones Day's partnership with Bet Tzedek Legal Services. In addition, Shim serves on the board of directors of West Creek Conservancy.

From 2013 through the summer of 2017, Shim was editor of the climate change litigation section of Jones Day's quarterly electronic climate change advisory, The Climate Report.

Experience

  • U.S. Bank obtains significant win at summary judgment in case alleging hundreds of millions of dollars in losses relating to residential mortgage-backed securitiesJones Day secured a significant win on behalf of U.S. Bank National Association in a lawsuit seeking hundreds of millions of dollars in alleged losses concerning investments in certificates issued by residential mortgage-backed securities trusts for which U.S. Bank served as trustee.
  • U.S. Bank prevails on summary judgment in case alleging hundreds of millions of dollars in losses relating to residential mortgage-backed securitiesJones Day secured summary judgment on behalf of U.S. Bank National Association in a lawsuit seeking hundreds of millions of dollars in alleged losses concerning investments in certificates issued by residential mortgage-backed securities trusts for which U.S. Bank served as trustee.
  • U.S. Bank prevails on appeal and obtains settlement in putative class action alleging tens of billions in class-wide losses in connection with residential mortgage-backed securitiesJones Day represented U.S. Bank National Association in putative class actions filed in New York state court seeking tens of billions of dollars in alleged class-wide losses in connection with investments in certificates and notes issued by over 800 residential mortgage-backed securities trusts for which U.S. Bank served as trustee.
  • U.S. Bank defeats class certification in putative class action alleging billions in class-wide losses in connection with residential mortgage-backed securitiesJones Day represented U.S. Bank National Association in a putative class action seeking billions of dollars in alleged class-wide losses in connection with investments in notes issued by 25 residential mortgage-backed securities trusts for which U.S. Bank served as trustee.
  • Cliffs Natural Resources prevails in bondholder class actionJones Day represented Cliffs Natural Resources Inc. in a bondholder class action challenging a voluntary debt exchange offer that Cliffs Natural Resources conducted in early 2016.
  • CBIZ and Mayer Hoffman McCann obtain Ninth Circuit affirmance of dismissal of $900 million lawsuitOn February 23, 2015, the United States Court of Appeals for the Ninth Circuit ruled in favor of Jones Day clients CBIZ, Inc. and Mayer Hoffman McCann P.C. in a case filed on behalf of a putative class of investors alleging $900 million in losses from the collapse of Mortgages Ltd., a commercial real estate lender.
  • RBS Citizens and Citizens Bank of Pennsylvania defend against putative class action with respect to check processing practicesJones Day represents RBS Citizens, N.A. and Citizens Bank of Pennsylvania ("Citizens"), which are the U.S. banking operations of RBS Group plc, in a putative class action alleging, among other things, that Citizens' check processing practices are in breach of Citizens' customer account agreements and amount to unfair and deceptive trade practices under the laws of certain of the 12 states in which Citizens operates.
  • Macy's prevails at trial against J.C. Penney for tortiously interfering with Macy's contract with Martha Stewart Living OmnimediaOn June 16, 2014, the Supreme Court of the State of New York granted Jones Day client Macy's, Inc. a complete victory, after trial, against J.C. Penney Corporation, Inc. for tortious interference with a license agreement between a Macy’s affiliate and Martha Stewart Living Omnimedia, Inc. ("MSLO").
  • SiriusXM Radio resolves antitrust class action litigation related to 2008 mergerJones Day defended Sirius XM Radio Inc. against a class action, treble damages lawsuit filed by satellite radio subscribers, claiming that the 2008 merger of satellite radio providers Sirius and XM violated the antitrust laws and that after the merger the company had imposed certain allegedly anticompetitive price increases.
  • Ethyl defends against environmental litigation seeking $38 million for alleged PCB contamination at former propertyOn behalf of Ethyl Corporation, Jones Day is handling the defense of a large environmental property damage case filed under, among other things, the Resource Conservation and Recovery Act (RCRA), CERCLA, and common law, seeking recovery in excess of $38 million for alleged PCB contamination at a property formerly owned by Ethyl.
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    March 2018 Jones Day Publications

    The Climate Report - Winter 2018

    May 2017 Jones Day Publications

    The Climate Report - Spring 2017

    Winter 2017 Jones Day Publications

    The Climate Report

    Fall 2016 Jones Day Publications

    The Climate Report

    Summer 2016 Jones Day Publications

    The Climate Report

    Spring 2016 Jones Day Publications

    The Climate Report

    February 2016 Newsletters

    The Climate Report, Winter 2016

    Fall 2015 Jones Day Publications

    The Climate Report, Fall 2015

    Summer 2015 Jones Day Publications

    The Climate Report Summer 2015

    Spring 2015 Jones Day Publications

    Climate Report Spring 2015
    View All

    Additional Speaking Engagements

    • December 3, 2019
      Blockchain: The Sustainability Solution

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