We assisted our client in its dispute over the amount of equity that should have been granted to our client.
SEC Administrative Proceeding
We defended, in a hearing before an SEC administrative law judge, a case where the SEC Division of Enforcement sought disgorgement and a bar against a venture capital partner, who was accused of fraud and self-dealing under the Investment Advisers Act and Exchange Act based on his parallel investment in a portfolio company as part of the syndication of the investment.
Venture Fund Partner Dispute
We represented the venture fund in a partnership dispute, which included alleged wrongful termination, oral contracts, and negations for termination agreements, severance and renegotiation of fund valuations.
Venture Capital Firm Dispute and Resolution
Represented venture capital firm in obtaining insurance coverage for defense costs associated with its substantial investment in a portfolio company that faced high-profile investigations commenced by multiple federal agencies.
Advised the co-founders of Morphe Holdings, a global beauty company, in its partnership with General Atlantic, a leading global growth equity firm.
Claims Advocacy for Venture Capital Firm
We represented a venture capital firm in several disputes with its liability insurer, including a dispute concerning coverage for alleged liability arising out of conduct by a rogue shareholder representative, in which we obtained a substantial contribution from the insurer to the settlement of the underlying matter. We continue to represent the same client in ongoing negotiations concerning coverage for a securities class action filed against the venture capital firm and its appointed board member, arising out of one of the largest losses in the history of venture capital.
Portfolio Company Exit
Represented a prominent venture capital firm in connection with insurance coverage issues arising out of a medical device portfolio company exit. Post-closing, the acquiring company brought claims against the venture capital firm, to which the firm’s VCAP liability insurer initially denied coverage. Following our involvement, the venture capital firm obtained a substantial settlement contribution from its insurer.
Bio-IT and Health-IT Venture Capital
Represent a venture capital firm focused on Bio-IT and Health-IT portfolio companies, in connection with a major claim arising out of its investment in a former portfolio company. The portfolio company and its former management face investigation by both SEC and DOJ, for alleged conduct related to health care industry practices. We assist the venture capital firm in obtaining coverage for its investigation-related expenses under its VCAP liability insurance coverage.