With a focus on financial institutions, Brian A. Herman counsels clients in civil and class action litigation in US state and federal court, and in arbitrations. He represents banks, broker-dealers, hedge funds, private equity funds, investment advisers, public companies, and other complex businesses. Brian also advises clients facing examinations by the US Securities and Exchange Commission (SEC), self-regulatory organizations, state regulators, and other regulatory agencies. Clients also turn to Brian for guidance with internal examinations and enhancing their business practices.
Brian’s practice spans litigation matters involving contract disputes, lending practices, mergers and acquisitions, residential mortgage-backed securities (RMBS), loan servicing and foreclosure practices, investment funds, Ponzi schemes, and consumer protection.
Prior to joining Morgan Lewis, Brian served as a law clerk to Judge Ruth Abrams of the Massachusetts Supreme Judicial Court.
Successfully defended a public company in an action in the Delaware Court of Chancery alleging that stockholders were improperly denied appraisal rights in connection with a multi-billion dollar merger.
Representing private equity sponsors in post-closing disputes involving claims of fraud and breaches of representations and warranties.
Representing an international energy conglomerate in multiple post-closing disputes concerning indemnification obligations and purchase agreement covenants concerning dividends.
Representing residential mortgage-backed securities trustees in multiple state and federal court actions seeking to recover for alleged losses to investments.
Representing a hedge fund advisor in connection with a regulatory and criminal investigation and civil enforcement action arising from restatement of net asset value.
Routinely represent issuers, SPACs, and financial advisors in merger-related litigation alleging breaches of fiduciary duty and violations of proxy disclosure requirements in connection with public company transactions. Mr. Herman has obtained dismissal or very favorable settlements in many of these actions.
Represented a large financial services company in its capacity as a significant stockholder of a public company involved in a merger transaction, alleged to have aided and abetted breaches of fiduciary duties by the selling company’s board.
Representing a leading financial institution in New York False Claims Act action concerning escheatment of abandoned property.
Representing strategic and financial buyers pursuing claims against insurers under buyer-side representation and warranty policies.
Representing clients in litigation alleging violations of the Helms-Burton Act.
Represented a company and private equity sponsor in equity valuation dispute with terminated executive.
Successfully resolved a dispute between a property developer and home owner association.
Successfully resolved a dispute over a non-compete provision in connection with a client’s hiring of a senior executive from a competitor.
Successfully resolved a series of post-closing disputes arising from a large public company’s acquisition of a private enterprise.
Represented a retail client in a post-closing dispute concerning the failure to disclose certain contracts in the purchase agreement
Obtained a significant AAA arbitration award on behalf of management team of investment advisor in stock-put dispute.
Counsel for residential mortgage-backed securities trustee in federal court action alleging breach of contract and breach of fiduciary duties arising from alleged conflicts of interests.
Counsel to a leading financial institution in numerous matters arising out of litigation and regulatory inquiries concerning document execution, foreclosure, and other debt collection practices.
Advise in development of business practices to comply with state and federal law, and on regulatory settlements and consent orders.
Successfully defended through trial a leading financial institution in an action challenging the validity of loan obligations.
Successfully defended a foreign investment company in cross-border business-tort litigation concerning a terminated transaction.
Obtained summary judgment on behalf of leading technology company in an international licensing dispute.
Represented a leading financial institution against claims by a loan investor challenging the servicing of a portfolio of mortgage loans.
Lead counsel to leading financial institution in a series of "mass actions” pending in New York and New Jersey alleging improprieties in mortgage origination, servicing, foreclosure, and loan modification processing. Defend claims sounding in contract and fraud, and for violations of various state consumer protection statutes, as well as TILA and RESPA. Many of the actions have been dismissed.
Representing a biotech company in transaction-related litigation in Delaware Court of Chancery.
Lead counsel to a leading financial institution in actions brought by county recorders challenging practices concerning the recording of assignments of mortgages.
Representing a financial institution in litigation concerning a series of transactions.
Representing a foreign bank executive in a class action seeking damages incurred by victims of an alleged Ponzi scheme.
Represented a media company in an international dispute concerning licensing rights.
Counsel for a leading membership services provider in litigation against a major online retailer alleging breach of a marketing agreement.
Represented a leading financial institution in an action brought by a former executive seeking damages under an employment agreement.
Obtained dismissal of a class action against a leading credit card issuer and debt collector alleging violations of consumer protection statutes arising from an alleged failure to send periodic statements.
Represented multiple clients in class actions and derivative suits arising from alleged stock option backdating. Many of the actions have been settled on favorable terms, and one class action has been dismissed with prejudice.
Represented a large broker-dealer in a nationwide class action alleging breaches of fiduciary duty in connection with mutual fund revenue sharing. Mr. Herman negotiated a favorable settlement on behalf of his client.
Represented a hedge fund advisor in civil litigation arising out of the devaluation of portfolio tied to the housing crisis. Mr. Herman negotiated a favorable settlement on behalf of his client.
Represented a multinational company in defending intellectual property and competition claims brought by a foreign competitor arising from a sale and licensing agreement.
Obtained dismissal on behalf of a broker-dealer and bank in a nationwide class action challenging disclosures concerning bank-deposit sweep programs.
Represented a large retailer in a class action seeking damages concerning the alleged failure to comply with FACTA in its credit card processing.
Served as a member of the trial team on behalf of an international credit card association in antitrust litigation brought by the Department of Justice concerning card issuing and membership rules and association governance.
Counsel for multiple underwriters in a series of coordinated class actions arising out of the initial public offering of various securities. The actions resulted in a favorable settlement for the defendants.
Counsel to broker-dealers in regulatory matters concerning various practices including mutual fund market timing, revenue sharing, insider trading, mark-ups, and alleged fraud.
University of Pennsylvania Law School, 1998, J.D.
Brandeis University, 1995, B.A.
Clerkship to Justice Ruth Abrams of the Supreme Judicial Court of Massachusetts (1998 - 1999)
Awards and Affiliations
Member, Law Firm of the Year, Securities Regulation, US News/Best Lawyers – Best Law Firms (2019)
Ranked, Litigation: General Commercial,New York, Chambers USA (2022)
Recommended, Dispute resolution: M&A litigation: defense, The Legal 500 US (2020–2022)
Recognized, Securities Litigation, New York Super Lawyers (2018–2021)
Rising Star, New York Super Lawyers (2011–2013)
Member, New York State Bar Association
Member, Association of the Bar of the City of New York
Staff Member, Journal of International Economic Law