Structured Products & Derivatives Litigation

Berg & Androphy attorneys are well-versed in the many uses of structured products and derivative instruments in commercial and investment transactions. We have extensive experience with interest rate, currency, commodity and cash flow derivatives, as well as credit default and total return swaps, derivative CDO investments and other such vehicles. Berg & Androphy attorneys have litigated a wide variety of actions involving structured products and derivative instruments, including cases concerning derivative instruments linked to Russian GKOs, fund-linked notes, emerging market debt, mortgage-backed securities and municipal bonds. Significant representations include:

• Trustees in residential mortgage-backed securities litigation; in 2014, our attorneys defeated four motions to dismiss, which resulted in a single decision from the Commercial Part that has become the standard in New York state courts.
• Norwegian municipalities in an action arising out of complex, municipal bond-linked notes against a global financial institution.
• Vivendi, S.A. in the largest shareholder class action ever to go to trial in which plaintiffs alleged that Vivendi violated federal securities laws by misrepresenting or concealing material information about its financial condition.
• CBS Corp. in obtaining dismissal of putative securities fraud class action concerning a $14 billion impairment.  The dismissal was upheld by the Second Circuit on appeal.
• A financial institution in obtaining judgment against U.S. sureties in an action involving European finite re-insurance transactions.