Israel Dahan

Shareholder and securities litigation

• Defending a reinsurance company and the individual named defendants in a federal securities class action filed in the Southern District of New York (SDNY) alleging claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934
• Defended an advanced energy and hyperscale infrastructure company and the individual named defendants in a federal securities class action filed in SDNY alleging claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934
• Defended a global apparel retailer and certain individual defendants in a federal securities class action filed in the Eastern District of New York (EDNY) alleging claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, obtaining dismissal of all claims with prejudice on a motion to dismiss
• Defended the board of directors of a financial trading services company in a shareholder derivative action filed in SDNY alleging claims under Section 14(a) of the Securities Exchange Act of 1934
• Defended the board of directors of a foreign exchange and brokerage business in a shareholder derivative action filed in the Delaware Court of Chancery alleging claims for breaches of fiduciary duty and corporate waste
• Defended a financial trading services company and its chief executive officer (CEO) and chief financial officer (CFO) in a federal securities class action filed in SDNY alleging claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934
• Represented major shareholders of a public printing company in a New York state court action challenging a change-of-control transaction and asserting breach of fiduciary duty and aiding and abetting claims, obtaining a preliminary injunction after a two-day trial and, in a first-of-its-kind ruling in New York, securing an injunction against the company's advance notice bylaw provision that preserved shareholders' ability to nominate director candidates after the nomination deadline
• Defended a business process services company and certain directors and officers in a federal securities class action filed in the District of New Jersey (DNJ) alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934
• Defended a Brazilian audit firm in a federal securities class action and related individual actions filed in SDNY alleging claims under Section 10(b) of the Securities Exchange Act of 1934, Section 11 of the Securities Act of 1993, and various state law claims, obtaining dismissal of the Section 10(b) and state law claims on a motion to dismiss
• Defended a global professional services network in a shareholder derivative action filed in the Delaware Court of Chancery alleging a claim for aiding and abetting breach of fiduciary duty, obtaining a voluntary dismissal with prejudice following a motion to dismiss filing
• Defended a foreign exchange and brokerage business and its CEO and CFO in a federal securities class action filed in SDNY alleging claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, obtaining dismissal of all claims with prejudice on a motion to dismiss that was subsequently affirmed by the Second Circuit
• Defended a mixed martial arts promotion and event management company and its CEO and CFO in a federal securities class action filed in DNJ alleging claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934
• Defended the former CEO of an executive search firm in a federal securities class action filed in SDNY alleging claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, obtaining dismissal of all claims on a motion to dismiss
• Defended a foreign individual in a federal securities class action filed in DNJ alleging claims under Sections 11 and 12(a)(2) of the Securities Act of 1933
• Defended a China-based natural gas distribution company in a class action filed in Utah state court alleging breach of fiduciary duty claims and seeking to enjoin the company's going-private merger transaction
• Defended a US broker-dealer and investment banking subsidiary in several private securities fraud actions involving naked short-selling activities
• Defended a global investment bank and securities trading firm in federal and state shareholder actions filed in New York and Delaware relating to its merger with a global financial services company
• Defended underwriters of three securities offerings aggregating more than USD3 billion issued by an energy infrastructure company in a federal securities class action filed in the Northern District of Oklahoma alleging claims under Sections 11 and 12(a)(2) of the Securities Act of 1933
• Defended a video game publisher and developer and its officers and directors in a federal securities class action and a separate shareholder derivative action filed in DNJ
• Defended a software company and its board of directors in a shareholder class action filed in Maryland state court seeking to enjoin the company's merger with a business services technology company

Commercial litigation

• Defending a reinsurance company against claims filed by bondholders in New York state court alleging breaches of the tender buyback provisions of an indenture
• Defending a privately held investment holding company and certain subsidiaries in an action filed by Peruvian citizens in federal court in Missouri alleging negligence, civil conspiracy, absolute and strict liability, and veil-piercing claims
• Defending a US broker-dealer and investment banking subsidiary in an action filed by a former investor in federal court in Texas alleging federal RICO violations, fraud, breach of fiduciary duty, and unjust enrichment
• Defending a large commercial real estate developer in several litigations in New Jersey and New York involving foreclosure and guaranty claims on commercial loans exceeding USD300 million
• Representing a commercial real estate investment and management firm in a New York state court action against a special servicer alleging breach of contract and wrongful-conversion claims
• Represented two Spanish holding companies in an SDNY action against the Argentine Republic and an Argentina-based integrated energy company alleging breach of contract and promissory estoppel claims arising from the defendants' failure to comply with tender offer requirements, obtaining a USD16 billion judgment against the Argentine Republic following trial, the largest damages award issued in New York, and continuing to represent clients in enforcement proceedings
• Represented a real estate investment and management firm in litigations in Delaware and Pennsylvania involving distressed commercial properties and loans exceeding USD50 million
• Represented a real estate investment and management firm in foreclosure and guaranty litigation filed in Florida state court involving distressed loans secured by two commercial office buildings in downtown Miami
• Represented a US affiliate of a global healthcare company in a DNJ action filed against the US Department of Health and Human Services, Centers for Medicare and Medicaid Services, and others challenging the constitutionality and application of the prescription drug program established by the Inflation Reduction Act of 2022
• Represented a limited partnership entity associated with real estate ownership and investment in a breach of contract action filed in New Jersey state court arising from a failed real estate purchase transaction, obtaining a favorable settlement
• Represented an ad hoc group of non-participating term lenders of an action sports and lifestyle apparel company in a breach of contract action filed in New York state court against the company and an ad-hoc group of participating lenders, defeating a motion to dismiss and obtaining a favorable settlement
• Defended two marine conservation organizations and an environmental activist in a trademark infringement and trade libel action filed in Vermont federal court
• Defended a Medicaid application assistor company in a nationwide consumer class action filed in DNJ, obtaining dismissal of the complaint with prejudice
• Defended a specialty finance company in a trade secret and breach of contract action filed in New York state court
• Defended a holding company associated with a foreign exchange brokerage business in an indemnification action filed in New York state court and obtained dismissal of the action on summary judgment
• Defended a foreign exchange brokerage entity in consumer class actions in SDNY alleging breach of contract, breach of fiduciary duty, negligence, and consumer fraud claims, obtaining voluntary dismissal of the action with prejudice
• Represented former owners of a retail energy supplier in a fraudulent inducement and breach of contract action filed in SDNY
• Defended a multi-asset trading platform in an arbitration proceeding involving breach of contract claims
• Defended a German automobile manufacturer and its North American sales, marketing, distribution, and service subsidiary in an action filed by the New Jersey Attorney General alleging consumer fraud claims
• Defended a privately held investment holding company and affiliated entities in an action filed in Missouri state court by a global engineering, procurement, construction, and project management company alleging breach of contract, tortious interference, and veil-piercing claims
• Defended the director of a public company in an SDNY action alleging a claim for tortious interference with contract
• Represented real estate investment companies in an SDNY declaratory judgment action against a major Chinese state-owned commercial bank
• Defended a National Football League quarterback in an action filed in New Jersey state court alleging claims for violation of RICO and other torts
• Defended a large US financial institution in several state and federal actions involving the repurchase of loans sold in mortgage-backed securitizations
• Defended several foreign directors and officers of a US public company in an action filed in the Delaware Court of Chancery alleging breach of contract, breach of fiduciary duty, and fraud claims related to a corporate merger
• Defended a financial services company in a breach of contract action concerning lease financing and credit default swap agreements
• Represented a long-term care pharmacy in a breach of contract action filed in Connecticut state court seeking to enforce a USD5 million guaranty agreement

Bankruptcy litigation

• Defended a US broker-dealer and investment banking subsidiary and a United Kingdom-based broker-dealer and investment banking entity in an adversary proceeding filed in the bankruptcy cases of a former mortgage lender in Maryland seeking to avoid more than USD2 billion in transfers and other obligations that the lender made or assumed prior to bankruptcy, obtaining dismissal of the trustee's federal and state constructive fraudulent transfer claims and a favorable settlement
• Defended a national commercial bank and its affiliates, as participants in a reserve-based first lien loan facility, in the Chapter 11 bankruptcy case of an oil and gas exploration and production company
• Defended a global investment bank and financial services company in litigation brought by a foreign representative in a Mexican offshore drilling company's Chapter 15 case filed in the SDNY Bankruptcy Court
• Represented a global investment bank and financial services company, as collateral agent for USD4 billion in priority guaranty notes, in a US media and entertainment company's bankruptcy case filed in the Southern District of Texas
• Represented a financial trading services company in its prepackaged Chapter 11 bankruptcy case and subsequent out-of-court restructuring in the SDNY Bankruptcy Court
• Represented a religious educational institution in an adversary proceeding filed in the SDNY Bankruptcy Court involving claims of fraudulent transfer of real property and defeated the motion to dismiss
• Represented a marketing, printing, and direct-mail services company in its Chapter 11 bankruptcy, including various contested matters, and obtained an injunction preventing a third party from interfering with the debtors' contractual and business relationships and obstructing the sale of their businesses
• Represented a chemical manufacturer in its Chapter 11 bankruptcy proceedings, securing approval of what was then the largest privately financed debtor-in-possession financing, obtaining an injunction against claims involving nondebtor European affiliates that guaranteed debtor obligations, and defending the debtors in numerous contested matters brought by the unsecured creditors' committee and other creditors
• Represented a healthcare business process outsourcing and revenue-cycle services company in a contested involuntary bankruptcy petition filed by its creditors, obtaining dismissal of the case within three weeks, and subsequently represented the company in related litigation against the petitioning creditors, securing a significant monetary recovery
• Represented a national commercial bank and banking subsidiary as indenture trustee of debt issued for leveraged leases of two power generation facilities in an energy company's holding entity's bankruptcy
• Represented major creditors and trading counterparties in the bankruptcy proceedings of a global financial services firm and advised on the liquidation of contracts and trades involving commodities, foreign exchange, interest rates, credit default swaps, and other derivative products
• Defended an investment entity as secured lender, defeating subordination and other claims in the Chapter 11 bankruptcy cases for a former video rental and home entertainment retailer
• Defended an investment management firm, affiliated funds, and individuals against breach of fiduciary duty and veil-piercing claims brought by the creditors' committee in a US retail apparel chain's bankruptcy, obtaining dismissal of all claims, which was subsequently affirmed by the district court
• Represented a former energy, commodities, and services company as debtor-plaintiff in more than 40 separate adversary proceedings in its Chapter 11 bankruptcy cases seeking to recover monies owed to the company's estate under swaps, forwards, and other derivative contracts
• Represented a former major US airline as debtor in several adversary proceedings and contested matters related to its Chapter 11 cases, including defeating challenges to plan confirmation filed by official and ad hoc committees, achieving substantive consolidation of certain debtors, and obtaining a seminal decision disallowing claims filed by a flight attendant union on grounds that damage claims do not arise from rejection of collective bargaining agreements

Government investigations and regulatory proceedings

• Defended a major investment bank in a Financial Industry Regulatory Authority action arising from research report disclosure issues
• Defended a private company in a New Jersey Attorney General investigation
• Defended a Medicaid application assistor company in a regulatory investigation by the Connecticut Attorney General. Secured dismissal of the investigation without any finding of wrongdoing by the client
• Defended a Medicaid application assistor company in an enforcement proceeding pursued by the Rhode Island Unauthorized Practice of Law Committee, securing a post-hearing ruling of dismissal
• Defended a foreign exchange and brokerage business in a regulatory proceeding filed by the Commodity Futures Trading Commission (CFTC) in SDNY
• Defended a public company in investigations by the CFTC, National Futures Association, and Financial Conduct Authority
• Defended a Fortune 500 company in an accounting fraud investigation by the Securities Exchange Commission
• Defended an individual in a postal fraud investigation by the US Department of Justice
• Defended several companies in state and federal government investigations involving late trading, market timing, and market manipulation