Jordan D. Hershman

Jordan has successfully represented the following companies, among others: Access Pharmaceuticals, Aetna, Battery Ventures, Beacon Mutual Insurance Company, Cambridge Technology Partners, Deloitte & Touche, Digital Equipment Corp., Gulf South Medical Supply, Investors Financial (now a subsidiary of State Street Bank), Kopin Corp., KPMG, LCA Vision, LeCroy Corporation, LifeIMAGE, Moldflow Corp., Novell, Oracle, Sapient Corp., SeaChange International, TempurPedic and Teradyne.

• Teva Pharmaceutical Industries Ltd. (2018) — Obtained, from the bench at oral argument, grant of motion to dismiss all claims asserted against a leading generic drug manufacturer and its officers and directors in securities fraud class action, including the dismissal of all strict liability claims asserted under the Securities Act of 1933, with leave to replead.
• Abeona Therapeutics Inc. (2017) — Persuaded class action plaintiffs, represented by a prominent class action firm, voluntarily to dismiss all securities class action claims asserted against the defendant corporation and certain of its officers and directors by utilizing the legitimate threat of a sanctions award under federal securities law and Rule 11 (a procedural rule allowing the imposition of sanctions, including attorneys’ fees, under certain circumstances).
• Leap Therapeutics Merger Litigation (2016) — Persuaded shareholder class action plaintiffs voluntarily to dismiss their federal proxy rule violation claims filed in the Southern District of New York, after threatening to file, and then filing, a motion to dismiss and for the award of attorney’s fees and costs.
• WisdomTree Investments, Inc. (2016) — Obtained from Delaware Chancery Court order granting motion to dismiss, with prejudice, case in which the plaintiff sought to invalidate WisdomTree’s ownership of a significant block of stock in Tradeworx, Inc.
• Tempur Sealy (2015) — Obtained order from Sixth Circuit Court of Appeals affirming grant of motion to dismiss all claims asserted against a leading mattress manufacturer and its officers and directors, with prejudice, in securities fraud class action, notwithstanding allegations concerning over $15 million in stock trading by company management during the class period.
• Access Pharmaceuticals (2015) — Obtained grant of motion to dismiss, with prejudice, all claims asserted against Access Pharmaceuticals (now renamed Abeona Therapeutics) and its management in federal class action litigation.
• Beacon Mutual (2015) — Obtained order from Supreme Court of Rhode Island affirming the dismissal of a $100 million class action filed against the largest workers’ compensation insurer in Rhode Island, after being retained as new counsel and identifying a new argument supporting the dismissal of the case on the pleadings, even though the case had been pending for nine years, had previously survived a motion for summary judgment, and heading for trial.
• Tempur Sealy (2014) — Obtained grant of motion to dismiss all claims asserted against a leading mattress manufacturer and its officers and directors, with prejudice, in securities fraud class action, notwithstanding allegations concerning over $15 million in stock trading by company management during the class period.
• Freddie Mac (2013) — Obtained order from Second Circuit Court of Appeals affirming the grant of motion to dismiss, with prejudice, all claims asserted against Freddie Mac in multibillion-dollar federal securities fraud class action filed in the Southern District of New York, where plaintiffs challenged the adequacy of Freddie Mac disclosures regarding its participation in the subprime and non-conforming mortgage markets, as well as its capital adequacy, internal controls and underwriting practices, prior to Freddie Mac’s placement into conservatorship.
• Acme Packet-Oracle Merger Litigation (2013) — Secured the early dismissal of five related class actions after obtaining a bench ruling from the Delaware Chancery Court denying plaintiff’s motion for the scheduling of an expedited preliminary injunction hearing and the conduct of expedited discovery, which ruling eliminated any risk that the proposed merger could be enjoined and thus eliminated plaintiffs’ leverage in the case.
• Aetna (2013) — Won appeal sustaining all claims that Aetna asserted against a non-bankrupt affiliate of Lehman Brothers Holding Inc. and the Individuals who acted on its behalf in a case seeking more than $100 million in compensatory damages as well as multiple damages and attorneys’ fees under the Connecticut Unfair Trade Practices Act.
• Battery Ventures/Index Ventures (2013) — Obtained grant of motion to dismiss all claims asserted by British advertising firm WWP Luxembourg Gamma Three Sarl against Battery Ventures, Index Ventures and certain of its partners.
• Freddie Mac (2012) — Obtained grant of motion to dismiss, with prejudice, all claims asserted against Freddie Mac in multibillion-dollar federal securities fraud class action pending in the Southern District of New York, where plaintiffs challenged the adequacy of Freddie Mac disclosures regarding its participation in the subprime and non-conforming mortgage markets, as well as its capital adequacy, internal controls and underwriting practices, prior to Freddie Mac’s placement into conservatorship.
• LeCroy Corporation (2012) — Secured the early dismissal of a class action filed to challenge and enjoin the LeCroy Corporation-Teledyne Technologies, Inc. merger, after obtaining the denial of plaintiff’s motion for the scheduling of an expedited preliminary injunction hearing or the conduct of expedited discovery, which appears to be the first of its kind issued in New York federal court.
• LifeIMAGE (2012) — Obtained order enforcing preliminary injunction enjoining LifeIMAGE’s former Vice President – Business Strategy from working for its largest competitor in violation of his non-competition agreement with LifeIMAGE.
• Battery Ventures (2011) — Obtained order affirming grant of summary judgment dismissing $12 million in claims filed against Battery Ventures in connection with Battery and Blackstone’s $90 million investment in the London International Financial Futures and Options Exchange (LIFFE).
• SmartCells (2011) — Defeated appeal of order requiring plaintiff to pay sanctions of more than $550,000 in attorneys’ fees and stating: “This Court also finds that the legal work performed, especially by lead attorney Hershman, was exceptional, as was the result obtained.”
• Kopin Corporation (2011) — Obtained Order affirming grant of motion to dismiss declaratory judgment and breach of fiduciary duty claims asserted in a putative class action against Kopin and its directors and senior officers in connection with the alleged backdating of employee stock option grants and the restatement of the company’s financial results.
• Synchronoss Technologies (2010) — Obtained grant of motion to dismiss all claims asserted against the company, its CEO and CFO in a federal securities fraud class action where plaintiffs based their claims on the fact that the company had failed to achieve its earnings guidance and the individual defendants had sold millions of dollars in company stock during the class period, which triggered the voluntary dismissal of two related derivative actions.
• Teradyne (2010) — Obtained grant of summary judgment dismissing books and records action relating to the company’s prior stock option granting practices.
• LCA Vision (2009) — Obtained grant of motion to dismiss all claims asserted against the company, its CEO, CFO and GC, among others, in a federal securities fraud class action, where plaintiffs based their claims on the facts that the company had restated its financial statements, that it had revised downward its earnings guidance, and that the individual defendants had sold millions of dollars in company stock during the class period.
• Investors Financial (2009) — Obtained grant of motion to dismiss all claims asserted against the company, its CEO, CFO and GC, among others, in a federal securities fraud class action, where plaintiffs based their claims on the facts that the company had restated three-and-a-half years of financial statements, that it had revised downward its earnings guidance, and that the individual defendants had sold millions of dollars in company stock during the class period.
• Teradyne (2008) — Obtained grant of motion for judgment on pleadings dismissing all claims, including securities fraud and breach of MAC clause claims, arising out of a $122 million merger transaction.
• Novell (2008) — Obtained voluntary dismissal of breach of fiduciary duty claims asserted in connection with the company’s prior stock option granting pieces, after plaintiffs determined that they did not possess valid arguments to oppose our motion to dismiss.
• TempurPedic (2008) — Obtained grant of motion to dismiss all claims asserted against company and its officers and directors, with prejudice, in securities fraud class action, notwithstanding allegations concerning over $250 million in stock trading and distributions by alleged company insiders during the class period.
• Witness Systems (2008) — Obtained grant of motion to dismiss all federal securities fraud class action claims asserted against the chairman of the company’s compensation committee, where the company restated its financial results after disclosing that the grant dates for certain stock options issued to company personnel had likely been selected with hindsight.
• Kopin Corporation (2008) — Obtained grant of motion to dismiss breach of fiduciary duty and related claims asserted in shareholder derivative action litigation against the company’s senior officers and directors, in connection with the alleged backdating of employee stock option grants and the restatement of the company’s financial results.
• SmartCells (2008) — Obtained grant of motion for summary judgment dismissing breach of contract and related claims asserted against medical device company and its founder.
• Deloitte & Touche (2006) — Obtained grant of motion to dismiss all securities fraud class action claims asserted against Deloitte & Touche in connection with its audit of financial statements issued by its client, MicroFinancial Inc.
• Teradyne (2006) — Obtained order from Second Circuit Court of Appeals affirming grant of motion to dismiss a $55 million fraud case, together with the denial of plaintiff’s motion for leave to replead, in litigation filed against Teradyne in connection with the acquisition of one of its suppliers.
• Teradyne (2005) — Obtained grant of motion to dismiss a $55 million fraud case, together with the denial of plaintiff’s motion for leave to replead, in litigation filed against Teradyne in connection with the acquisition of one of its suppliers.
• Teradyne (2004) — Obtained grant of motion to dismiss all securities fraud class action claims asserted against Teradyne, its CEO and CFO arising out of the company’s unrealized financial projections.
• SmartCells (2004) — Defeated motion for preliminary injunction that, if granted, would have substantially impaired the operation of a startup medical device company.
• SeaChange International (2004) — Obtained grant of motion to dismiss all securities class action claims asserted against SeaChange, its CEO, CFO and three of its directors arising out of a $115 million secondary stock offering, notwithstanding the fact that plaintiffs’ claims were grounded in the strict liability provisions of the Securities Act of 1933.
• Stone & Webster (2003) — Obtained dismissal, on motion to dismiss, of 35 out of 37 alleged misrepresentation claims asserted against former CEO and chairman of the board of S&W and thereafter obtained dismissal on summary judgment of the two remaining alleged misrepresentations, in securities fraud class action filed following S&W’s restatement of its financial results and subsequent bankruptcy, which rulings were affirmed in substantial part on appeal.
• Battery Ventures (2003) — Persuaded competitor of a Battery portfolio company to abandon claims that it threatened to assert against Battery by demonstrating, out of court, the factual and legal baselessness of those threatened claims, thereby ending potential litigation before it began.
• PSS World Medical (2002) — Obtained dismissal, with prejudice, of federal securities fraud claims brought against the CEO and CFO of a national medical supply company arising out of alleged accounting irregularities, limiting the case solely to allegations of negligence.
• Envision Development Corp. (2002) — Obtained dismissal of federal securities fraud claims asserted against chairman of the board of Envision, an Internet services provider, which arose out of an $11 million investment in Envision made shortly before its collapse.
• Battery Ventures (2001) — Obtained favorable settlement in connection with litigation arising out of $3.2 billion acquisition of Qtera Corp. by Nortel Networks Inc.
• HarbourVest Partners (2001) — Obtained favorable settlement of claims asserted by client arising out of a $50 million merger transaction.
• Cambridge Technology Partners (2001) — Obtained dismissal of securities fraud class action claims asserted against Cambridge Technology, its CEO and CFO arising out of the company’s unrealized financial projections and insider trading during the class period.
• Cambridge Technology Partners (2000) — Obtained dismissal on summary judgment of fraud and other claims asserted against Cambridge Technology in connection with a $50 million merger transaction.
• Moldflow Corp. (2000) — Obtained preliminary injunction on theft of trade secret claims and a subsequent order holding the defendant corporation in contempt for destroying evidence, which led the defendant — a major Moldflow competitor — to capitulate in the litigation and agree to be acquired by Moldflow.
• Gulf South Medical Supply (1999) — Persuaded class action plaintiffs, represented by a prominent class action firm, to drop all federal securities law claims asserted against the defendant corporation and certain of its officers and directors by utilizing the legitimate threat of a sanctions award under Rule 11 (a procedural rule allowing the imposition of sanctions, including attorneys’ fees, under certain circumstances).
• Digital Equipment Corp. (1995) — Obtained the dismissal of numerous related federal securities class actions filed following a financial quarter in which Digital sold $400 million in preferred stock and then suffered an unexpectedly steep quarterly loss (400-500 percent larger than Wall Street estimates), which ruling was affirmed in substantial part on appeal.