Below are representative business litigation matters for Mr. LoBue.
Leading National Bank
Representing major bank in ongoing defense of antitrust class actions alleging violations in the structure and practices of the payment card industry. The actions, brought over ten years ago by alleged class of merchants throughout the U.S. who accept Visa and Mastercard, seek billions in damages arising from claim that the interchange or “swipe fee” imposed on every use of a payment card in the United States was the subject of an antitrust conspiracy in restraint of trade.
Lead counsel for the largest U.S. magazine publisher in defense of antitrust class actions alleging nationwide price-fixing conspiracy involving all major publishers. Secured no-damages settlement approved by the Court.
Lead counsel for a Fortune 50 pharmaceutical company in defense of 13 nationwide class actions brought in both federal and state courts asserting illegal monopolization based on alleged improper procurement and enforcement of patents relating to an OTC product. After extensive procedural wrangling including a removal to federal court and contesting class certification, ended case by persuading all plaintiffs’ counsel that their theories of liability were meritless. Suits were voluntarily withdrawn.
European Holding Company
After our client completed a multi-hundred million dollar sale of a worldwide family of subsidiaries, the purchaser claimed fraud and breach of contract based on alleged misstatements in the financial statements on which the deal was based. The claims implicated a wide range of U.S. and various foreign GAAP principles and exceeded $90 million. Following extensive document discovery, and working with accounting experts in the U.S. and abroad, persuaded the purchaser that virtually all of the claimed errors were either meritless as a matter of accounting or caused it no damage. A favorable settlement at litigation cost followed.