William (Bill) H. Gussman, Jr.

William H. Gussman, Jr. is a partner in the New York office, where his practice focuses on representing financial institutions and officers and directors in complex commercial litigation, including in securities fraud actions, fraudulent transfer actions, post-acquisition disputes and derivative actions. Bill’s clients have included leading prime brokers, hedge funds, private equity firms, investment banks, lenders and individuals. Bill has substantial trial experience, having tried cases in federal and state courts throughout the United States and in a variety of alternative dispute resolution venues, including AAA, FINRA and JAMS arbitrations. Bill frequently litigates in bankruptcy court, often representing noteholders in disputes over such things as enterprise valuation and asset ownership. He has also assisted clients in responding to SEC investigations and requests.

Bill’s jury trial experience includes the successful defense of a leading prime broker in a $141.4 million fraudulent transfer action brought by the trustee of a defunct hedge fund. In that two-week federal trial, he helped to secure a unanimous verdict in favor of the prime broker, resulting in a complete win for the prime broker in a litigation in which the trustee initially claimed $3.6 billion in damages. Bill is currently representing a former officer and director of Merck & Co. in connection with proceedings relating to the painkiller Vioxx. That high-profile matter has included the defense of federal and state securities law claims, breach of duty claims, product liability claims and other matters. Bill received his B.A., summa cum laude, from Dartmouth College, where he was Phi Beta Kappa, and his J.D. from Harvard Law School.

Selected Representations

Gredd v. Bear Stearns Securities Corp. (Bankr. S.D.N.Y.): Representation of Bear Stearns in connection with matters pertaining to the collapse of the Manhattan Investment Fund, Ltd., including defense of alleged fraudulent transfer claims brought by the bankruptcy trustee. Obtained jury verdict in favor of Bear Stearns on claim for $141.4 million in alleged fraudulent transfers. Also successully obtained dismissal of fraudulent transfer claims seeking $3.6 billion in damages. See Gredd v. Bear Stearns Securities Corp., 257 Bankr. Rep. 190 (S.D.N.Y. 2002).

In re VIOXX Litigation: Ongoing representation of former officer and director of Merck & Co., Inc. in connection with various proceedings relating to VIOXX, including defense of federal and state securities law claims, ERISA claims, breach of duty claims, product liability claims and other matters.

In re Downey Financial Corp. (Bankr. Del.): Ongoing representation of indenture trustee for noteholders in adversary proceeding against the FDIC concerning ownership of tax refunds under tax sharing agreement and other matters.

In re Almatis, B.V. (Bankr. S.D.N.Y.): Representation of various mezzanine lenders in connection with plan objections and associated litigation, including a challenge to enterprise valuation, in connection with the bankruptcy of Almatis, B.V., et al.

Representation of hedge fund client in connection with inquiries from the Financial Crisis Inquiry Commission (“FCIC”).

Successful defense of claims brought under a “piercing the corporate veil” theory against private equity client concerning obligations of a portfolio company. Case resulted in a dismissal of claims at the pleadings stage.

Successful representation of investment fund in settling post-acquisition disputes regarding breach of representation claims prior to commencement of an action against client.

___________v. ___________(JAMS arbitration): Representation of private investment fund in defense of an $11 million breach of contract claim in alleged “finder's fee” case.

___________ v. ___________(AAA arbitration): Representation of private equity fund seller in $29 million purchase price adjustment matter.

Brownstone Investment Group, LLC v. Levey (S.D.N.Y.): Representation of broker-dealer in dispute with individual claiming to be a member of the broker-dealer LLC.

In re Midtown Rochester, L.L.C. (Bankr. W.D.N.Y.): Representation of creditor in bench trial concerning valuation of mixed-use property in Rochester, New York and other related matters.

___________ v. ___________ (AAA arbitration): Represented Big Four accounting firm in connection with various subpoenas and the accounting firm’s internal investigation regarding potential liability relating to relevant audit.

Koninklijke Numico N.V. v. KEB Enterprises, et al. (D. Del.): Successful representation of selling shareholders of nutrition supplement business in connection with post-closing disputes with purchaser.

In re Quintus Securities Litigation (N.D. Cal.): Obtained dismissal of securities law claims against underwriter defendant.

In re Livent (S.D.N.Y.): Successful representation of underwriter defendant in connection with securities law claims.

Levy v. OZ Master Fund, et al. (S.D.N.Y.): Successful representation of investment fund in defense of Section 16(b) “short swing” trading claims. (See Levy v. OZ Master Fund Ltd., et al., 2001 WL 767013 (S.D.N.Y.) [dismissing Section 16(b) complaint]).

RiceCo, LLC v. Cedar Chemical (Bankr. S.D.N.Y): Successful representation of plaintiff in adversary proceeding for declaratory judgment and other relief pertaining to supply contract obligations of debtor.

Selected Publications

Bar Admissions

• New York 1997

Court Admissions

• U.S. Supreme Court
• U.S. Court of Appeals, Second Circuit
• U.S. Court of Appeals, Third Circuit
• U.S. District Court, Eastern District of New York
• U.S. District Court, Western District of New York
• U.S. District Court, Northern District of New York
• U.S. District Court, Southern District of New York
• U.S. District Court, Northern District of Ohio

Education