Bass, Berry & Sims | Practices

Practices Matters Clients Attorneys Newsletters Focus Areas Insurance Coverage and Disputes	Commercial Counsel for board of directors in successful defense of shareholder derivative action alleging defendants breached their fiduciary duty by manipulating the financial results and engaging in insider trading. Representation of mutual fund and fund investment advisor in class-action suit brought on behalf of former fund shareholders. Successfully handled administrative proceeding preventing the exclusion of a bank and certain officers from engaging in the mortgage banking business. Assisted in successfully defeating class certification in class action federal lawsuit by investors against major broker-dealer firm. Successfully obtained multi-million dollar settlement on behalf of investment banking firms for fees owed to the investment banking firms as a result of a merger of public companies. Successful defense of parties in action for recovery or contribution of response costs incurred in environmental remediations under CERCLA and related statutes and theories. Obtained dismissal of multi-million dollar shareholder derivative action and class action claims involving antitrust, constitutional, fiduciary duty and consumer protection allegations against each of Tennessee’s 23 electric cooperatives. Co-counsel to major investment banker in multiple shareholder derivative cases relating to fund investments in mortgage-backed securities. Defended major pharmaceutical company in diet drug litigation in Tennessee consisting of over 2,500 cases. Representation of national bank regarding investigation by attorney generals of two states relating to practices of and fees charged in connection with reaffirmation of loans of bankrupt consumers resulting in no enforcement action. Dismissal of class action suit filed on behalf of dissolving shareholders to prevent merger of publicly held companies alleging breach of fiduciary duty by directors approving merger. Dismissal of claim by group of borrowers that bank violated anti-tying provision of National Bank Act in the making of mortgage and related loans. Trial court verdict, affirmed on appeal dismissing breach of fiduciary duty claims against trustee. Recovery of over $200 million of assets from failed bank. Obtained trial and appellate court dismissal of multimillion dollar damage claim against bank for alleged breach of fiduciary duty in selling unsuitable financial product to commercial customer. Represented mortgage lenders in series of class action cases seeking damages based on loan closing fees alleged to violate RESPA, and other federal and state theft; handled briefing and oral argument on appeal to United States Court of Appeals for the Sixth Circuit, resulting in order affirming lower court in favor of client. Representation of officers and financial institutions before regulatory agencies resulting in no administrative action. Obtained trial court judgment affirmed on appeal for food products licensing company in multi-million dollar dissenter’s rights litigation. Obtained dismissal in federal court for national credit card company in lawsuit by customer alleging violation of the Truth In Lending Act. Representation of coal company and its 21 subsidiaries in Chapter 11 reorganization. Representation of national theatre chain in Chapter 11 plan. Obtained arbitration award for national financial services firm, denying a $9 million fraud and breach of contract claim; prevailed on counterclaim and obtained monetary damages for breach of contract. < back

Commercial

Counsel for board of directors in successful defense of shareholder derivative action alleging defendants breached their fiduciary duty by manipulating the financial results and engaging in insider trading.
Representation of mutual fund and fund investment advisor in class-action suit brought on behalf of former fund shareholders.
Successfully handled administrative proceeding preventing the exclusion of a bank and certain officers from engaging in the mortgage banking business.
Assisted in successfully defeating class certification in class action federal lawsuit by investors against major broker-dealer firm.
Successfully obtained multi-million dollar settlement on behalf of investment banking firms for fees owed to the investment banking firms as a result of a merger of public companies.
Successful defense of parties in action for recovery or contribution of response costs incurred in environmental remediations under CERCLA and related statutes and theories.
Obtained dismissal of multi-million dollar shareholder derivative action and class action claims involving antitrust, constitutional, fiduciary duty and consumer protection allegations against each of Tennessee’s 23 electric cooperatives.
Co-counsel to major investment banker in multiple shareholder derivative cases relating to fund investments in mortgage-backed securities.
Defended major pharmaceutical company in diet drug litigation in Tennessee consisting of over 2,500 cases.
Representation of national bank regarding investigation by attorney generals of two states relating to practices of and fees charged in connection with reaffirmation of loans of bankrupt consumers resulting in no enforcement action.
Dismissal of class action suit filed on behalf of dissolving shareholders to prevent merger of publicly held companies alleging breach of fiduciary duty by directors approving merger.
Dismissal of claim by group of borrowers that bank violated anti-tying provision of National Bank Act in the making of mortgage and related loans.
Trial court verdict, affirmed on appeal dismissing breach of fiduciary duty claims against trustee.
Recovery of over $200 million of assets from failed bank.
Obtained trial and appellate court dismissal of multimillion dollar damage claim against bank for alleged breach of fiduciary duty in selling unsuitable financial product to commercial customer.
Represented mortgage lenders in series of class action cases seeking damages based on loan closing fees alleged to violate RESPA, and other federal and state theft; handled briefing and oral argument on appeal to United States Court of Appeals for the Sixth Circuit, resulting in order affirming lower court in favor of client.
Representation of officers and financial institutions before regulatory agencies resulting in no administrative action.
Obtained trial court judgment affirmed on appeal for food products licensing company in multi-million dollar dissenter’s rights litigation.
Obtained dismissal in federal court for national credit card company in lawsuit by customer alleging violation of the Truth In Lending Act.
Representation of coal company and its 21 subsidiaries in Chapter 11 reorganization.
Representation of national theatre chain in Chapter 11 plan.
Obtained arbitration award for national financial services firm, denying a $9 million fraud and breach of contract claim; prevailed on counterclaim and obtained monetary damages for breach of contract.

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