When the stakes are high, banking and financial services institutions turn to Locke Lord. Our litigation experience in this field is as broad and varied as the industry itself, having represented clients in a wide array of legal controversies, including pioneering victories in usury, lender liability and bank powers cases.
Locke Lord lawyers are known not only for protecting our clients against the evolving regulatory and litigation risks, but also for anticipating industry trends and issues. Our lawyers are recognized authorities in this field – frequently publishing and presenting on topics related to banking and financial services litigation – and we bring this depth of experience to our advice.
As each client and matter is unique, we create custom tailored cross-department teams to deliver innovative and efficient results. From consumer-related claims, class actions and complex merger disputes, as well as in high-stakes litigation and government investigations, our trial teams are prepared to aggressively defend local, national and global banks and financial institutions.
We have a strong reputation for representing clients in ″bet the company″ cases, as our experience permits us to quickly grasp the salient legal and factual issues and develop a successful defensive strategy. Our creative preliminary motion practice has led to early dismissal or nuisance-value settlements of many cases. Our litigation teams have won a host of class action dismissals and summary judgments and have achieved favorable non-class based settlements after asserting credible challenges to class certification.
Financial services companies have been the target of numerous consumer class action cases, and Locke Lord lawyers continue to be at the forefront in defending these cases. We routinely defend banks, mortgage companies, retail credit card issuers, insurance companies, financial information providers, credit bureaus, investment banks, securities brokers, auto dealer associations and other creditors in consumer finance class actions involving allegations including consumer fraud, consumer protection and privacy regulations and RICO violations.
Our lawyers have defended class action claims based on allegations of actuarial impropriety, churning, unsuitability and alleged securities law violations, including claims based upon insider trading, market manipulation, accounting fraud, improper revenue recognition, inadequate recordkeeping, improper changes to non-guaranteed and guaranteed contractual provisions, breaches of fiduciary duties, failure to disclose material information, false disclosures and control-person liability for financial institutions.
Intellectual property is at the core of a financial institution’s operations, and our lawyers also have vast experience representing our clients' technology needs and business method patents. We have handled trademark disputes, trademark and patent infringement claims, and disputes involving technology and software development and licensing as well as disputes arising from online banking and payments systems. Our experience includes computer services contracts, data processing outsourcing, system integration agreements and hardware purchase and lease agreements.
Locke Lord lawyers represent our banking and financial institution clients in bankruptcy courts throughout the United States as secured and unsecured creditors. We serve as counsel for committees of secured and unsecured creditors, which often include banks and other financial institutions. Our bankruptcy and financial services lawyers work together to represent lenders with loan workouts, debtors in possession, financing, bankruptcy protection planning and debtor bankruptcies. We also represent institutions serving as trustees for bonds and other debt instruments when the users or borrowers have defaulted and sought protection under bankruptcy laws.
Our lawyers also represent our banking and lending clients in a wide range of collection cases involving real estate developers, apartment owners and managers, airlines, oil and gas companies, drilling contractors, manufacturers, retailers, automobile dealerships and others.
We are also experienced in defending a wide variety of statutory and regulatory claims, including:
A team of Securities Litigation lawyers from our Hartford office obtained a dismissal of all claims asserted against a mortgage and loan product company in the US District Court for the District of Connecticut in September 2012.
In 2012, our Financial Services and Litigation lawyers in Hartford obtained a dismissal of all claims asserted against a bank in a federal court matter involving student loans.
On behalf of our client, a bank that has brought a loan default action, Edwards Wildman lawyers in Providence and Boston defeated defendants’ two motions to dismiss filed on jurisdictional grounds in the US District Court for the District of Rhode Island.
In April 2012, the First Circuit Court Appeals (with retired Supreme Court Justice Souter sitting) affirmed the ruling of the US District Court for the District of Massachusetts on behalf our client bank, dismissing the plaintiff’s claim alleging violation of Regulation CC enacted under the Expedited Funds Availability Act and common law negligence.