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Dave Holahan

Counsel

New York

David D. Holahan is Counsel in Orrick's Litigation Business Unit, Financial Services Litigation Group. He represents clients in federal and state court actions and arbitrations in a broad range of complex financial and commercial litigation matters, including securities, class action defense, antitrust, regulatory investigations, partnership disputes, breaches of contract and fiduciary duty, fraud, libel, business torts, products liability, RICO and employment disputes. Dave regularly represents both the entities and principals of hedge funds, private equity funds, venture capital funds and investment banks.

Dave has extensive trial experience at the state and federal levels, including in the United States District Court for the Southern District of New York, the Delaware Court of Chancery, and the Commercial Division of New York State’s Supreme Court, New York County.  Dave also has experience representing and defending clients' rights and remedies before federal and state regulators.  Among other of Dave's successful trial outcomes, Dave served as co-lead counsel and secured a complete victory for his client in a dispute between two joint venture real-estate development partners after completing a 23-day bench trial in New York County’s Commercial Division and authoring the post-trial brief.

A zealous advocate for his clients, Dave is particularly adept at developing overall litigation strategies and, where advisable, advising clients regarding litigation avoidance, such as resolving business disputes through negotiation and mediation. He is skilled in working efficiently on behalf of his clients by quickly assessing potential liability and exposure, including the viability of any available claims and defenses, and aggressively acting to use the same in helping his clients achieve the best outcome consistent with their practical business objectives. Where appropriate and necessary, Dave has utilized his broad experience in structuring varied agreements with outside litigation funding firms, enabling his clients to litigate or arbitrate meritorious claims while providing alternative sources of funding to pay for the expense of litigation.

  • Significant Matters:

    • Represented major automobile manufacturer in connection with investigations and claims arising from long-term global antitrust violations by more than 30 automobile parts suppliers to fix prices, rig bids and allocate customers. Recently drafted and prevailed on a motion to compel arbitration.
    • Represented four portfolio managers in arbitration proceeding against former employer, an international investment bank, regarding set-offs taken by the bank against contractual payments owed to clients. Prevailed on motion for summary judgment.
    • On behalf of a hedge fund client, served as co-counsel and examined expert witness in week-long trial before then-Chancellor Strine in the Delaware Chancery Court in a breach of fiduciary duty and contract case concerning a dispute with a former partner of the fund.
    • Represented a large Central American financial group in dispute arising from a $1.5 billion sale to large in international bank.
    • Represented major Canadian toy manufacturer in a four-week trial in the United States District Court for the Southern District of New York. Achieved a full release of $60 million in earnout claims allegedly arising from client's acquisition of major U.S. toy manufacturer, and secured $15 million settlement payment.
    • Defended major Canadian toy manufacturer in a national securities class action lawsuit brought by consumers who purchased magnet-based toys produced by the company.
    • Member of arbitration team that successfully defended corporate client against former senior financial executive's wrongful termination claim.
    • Co-lead counsel representing four individual portfolio managers in AAA arbitration against their former employer, an international investment bank concerning the bank's failure to make contractually required payouts to Dave's clients. Prevailed after oral argument on summary judgment, with the arbitrator ordering the bank to make the required payouts.
    • Represented large mortgage loan servicer when it was sued as a third-party defendant by a subsidiary of a large commercial bank as a third-party defendant in RMBS put-back actions related to loans originated prior to the 2008 financial crisis.
    • Lead counsel representing investment bank ("IB") in dispute with former client that attempted avoid making payments to the IB required under the applicable investment banking agreement ("IBA") by improperly waiting for the “tail period” within the IBA to expire and then consummating a sale transaction with a purchaser previously introduced to the client by the IB.  Secured very favorable settlement outcome for the IB without the need for public litigation, as desired by the IB.
    • Lead counsel Representing a large conglomerate of car dealerships, in action filed by the New Jersey Department of Banking and Finance ("NJBF") against client concerning a pattern of insurance fraud allegedly committed by the client.  Prevailed at summary judgment after briefing and oral argument, with a full dismissal with prejudice of all claims brought against the client by the NJBF.