Philippe Adler

Philippe Adler represents public and private companies as well as individuals in federal and state courts and before arbitral panels in disputes involving claims for breach of contract, fraudulent transfer, business torts, breach of fiduciary duty, common law fraud, and securities fraud in the financial services, real estate, insurance, and hospitality industries. Philippe also represents AmLaw 100 law firms and their members in defense of claims, including claims of malpractice, and has represented corporate officers and directors in multidistrict securities fraud and RICO litigations.

Representative Matters

• Representation of WeWork co-founder and former CEO and Chairman Adam Neumann and affiliated company We Holdings LLC in a Delaware Chancery Court action, which was consolidated with an action commenced by a Special Committee of WeWork’s Board of Directors, challenging the decision of WeWork’s majority institutional shareholder to terminate a multi-billion dollar tender offer.

• Representation of the Official Stanford Investors Committee (“OSIC”) in long-running litigation arising out of R. Allen Stanford’s Ponzi scheme, one of the largest financial frauds in U.S. history. Friedman Kaplan and co-counsel prosecuted investor and estate claims in Texas federal court against five banks for, among other things, aiding and abetting violations of the Texas Securities Act and knowing participation in Stanford’s breach of fiduciary duty. OSIC’s recovery of $1.6 billion in settlements follows years of vigorous litigation involving complex issues of U.S., Canadian, English, and Swiss law, extensive motion practice, and nearly a hundred fact and expert depositions in the U.S. and abroad.

• Representation of former officers and directors of a publicly-traded pharmaceutical products company in obtaining the dismissal of a putative securities class action in New York federal court alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act, and then prevailing on appeal to the Second Circuit.
• Representation of majority bondholders and indenture trustee as plaintiffs in Delaware Court of Chancery against corporate issuer over the right of convertible noteholders to “put” over $60 million in notes to the company for par value in light of a corporate sale of assets comprising a fundamental change by the issuer.
• Representation of a leading public gaming and hospitality corporation and its affiliates in defense of federal and chancery court lawsuits brought by various creditor groups alleging that certain transactions violated the terms of indentures governing billions of dollars in bonds, as well as the Trust Indenture Act, and were fraudulent conveyances.

• Representation of GSO Capital Partners in litigation challenging its refinancing of debt issued by New Jersey-based home builder Hovnanian Enterprises, Inc.

• Representation of an international law firm and its partner in defense of claims for breach of fiduciary duty, breach of contract, and malpractice brought by one of the world's largest banks in New York state court in connection with a $75 million loan the bank made, and on which our client advised the bank.
• Representation of the largest creditor of PG&E in successfully prosecuting multibillion-dollar insurance subrogation claims, for injuries arising out of the 2017 and 2018 North Bay wildfires, in one of most complex bankruptcy cases in U.S. history.
• Representation of a leading retirement services company in litigation over breaches of fiduciary duty, defamation, and other tort claims.

• Representation of the principal of a commodities trading firm in a dispute with the firm and its partners in New York state court.

• Representation of an international media and advertising company in a malpractice action against a Big Four accounting firm in New York state court.

• Representation of a leading international boutique hotel company in a dispute between its members in New York state court.

• Representation of a high-level executive of Merrill Lynch through and including trial before FINRA pertaining to the terms of his severance.
• Representation of an international law firm and a number of its partners in defense of claims including breach of fiduciary duty, fraud, malpractice, unjust enrichment, and breach of contract filed by a former client of the firm, as well as related claims of breach of fiduciary duty and fraud brought by a former partner, all pertaining to real estate and financing transactions valued in excess of $1 billion.　
• Representation of an international hospitality company and its directors and officers in litigation in trial and appellate courts in New York and Florida related to the operation of hotels in Miami Beach and corporate transactions, and also concerning a proxy fight and associated lawsuits.
• Representation of directors and officers of a public company in class actions filed in federal courts in New York and California under the Securities Exchange Act of 1934 and RICO for securities fraud.
• Representation in New York State trial and appellate courts of leaders of a successful D&O division of a major insurer who moved to another insurance company and were sued for a "raid" and for breach of fiduciary duties.
• Representation of secured senior lenders in New York State court litigation over UCC Article 9 foreclosure following defaults by a significant automotive parts firm.
• Representation of a leading media company in a federal class action in New York in defense of claims under the FLSA, New York State Labor Law, and common law arising from compensation to personnel for building and maintaining websites.
• Representation of a high net worth individual in statutory and common law securities fraud claims against a major investment bank, through and including trial before FINRA.
• Obtained a major victory overturning the problematic “passport rule” that blocked those without valid passports from applying to the U.S. Diversity Immigrant Visa Program, which affected millions of aspiring immigrants across the world, with the most dramatic impact on those from Africa.