Aaron's practice focuses on complex commercial litigation, including disputes concerning structured finance and derivatives, lender liability, securities, corporate governance, mass tort and intellectual property. He has represented corporations, investment firms, and individuals in litigation in state and federal courts throughout the country, before arbitration panels, and in proceedings involving the Securities and Exchange Commission, the U.S. Department of Justice, and various States' attorneys general. Aaron was recognized as one of 50 of the nation's most accomplished litigators under the age of 45 ("The Fab Fifty") by The American Lawyer magazine (see related article). Aaron also was one of the firm's attorneys featured in The American Lawyer cover story profiling the firm's "Fast Rise To The Top." Aaron has also been recommended in The Legal 500 (2011) and in Euromoney, Benchmark Litigation: The Definitive Guide to America’s Leading Litigation Firms and Attorneys (2012).
Aaron has extensive trial experience, including having served as first chair representing companies in several significant cases. For example, Aaron has won several jury verdicts in trials in which cigarette manufacturer Liggett Group was the sole defendant. He also led Liggett's defense of the nine-month trial of the Department of Justice's RICO lawsuit against the tobacco industry. Federal District Judge Kessler issued a lengthy decision awarding judgment in favor of Liggett (whereas substantial injunctive relief was ordered against all of the other major cigarette manufacturers). Aaron, together with other firm partners, also defended The Port Authority of New York and New Jersey in the trial concerning the Port Authority's liability for the 1993 World Trade Center bombing.
Aaron currently is representing clients in a variety of disputes relating to the credit market crisis, including disputes over structured finance products (mortgage-backed securities, CDOs, various swaps), acquisition financings, and failed broker-dealers.
Notable Representations
- TSL (USA), Inc., an affiliate of National Australia Bank, in two separate actions against Oppenheimer and its affiliates relating to defendants’ misconduct as administrators of two structured finance vehicles, alleging damages of more than $600 million.
- Royal Park Investments SA/NV, an entity created in connection with the Belgian State’s sale of Fortis Bank SA/NV to BNP Paribas S.A. for the purpose of purchasing and managing certain of Fortis Bank’s structured credit risks not assumed by BNP Paribas, in an action against Oppenheimer and its affiliates relating to defendants’ misconduct as administrators of a structured finance vehicle, alleging damages of more than $400 million.
- Hilton Worldwide in an action alleging trade secret misappropriation brought by Hilton's competitor, Starwood Hotels & Resorts, and in a grand jury investigation conducted by the United States Attorney's Office (S.D.N.Y.), relating to the same underlying facts.
- MBIA Inc., the world's largest bond insurer, in actions brought by 20 of the world's largest financial institutions, which challenge as a fraudulent conveyance MBIA's $5 billion restructuring of its structured finance and municipal bond insurance businesses.
- Freescale Semiconductor in an expedited action by senior term lenders challenging Freescale’s issuance of $1 billion of incremental term loans as barred by an occurrence of a Material Adverse Change.
- Apollo Management L.P. and its portfolio company, Hexion Specialty Chemicals, in prosecuting an expedited proceeding against Credit Suisse and Deutsche Bank to compel specific performance of their commitment to provide $15 billion in financing for Hexion’s proposed merger with Huntsman Chemical, and negotiating a settlement with Huntsman that major media outlets, including The Wall Street Journal, lauded as a “sweet deal” for Hexion and Apollo.
- Several of the nation's largest private-equity firms (Apollo Management L.P., Bain Capital, Carlyle Group, Centerbridge Capital Partners, L.P., Clayton, Dubilier and Rice, Fortress Investment Group and TPG Capital) in disputes over acquisitions and acquisition financings for several large leveraged buyout transactions. These disputes have involved the applicability of material adverse change clauses, post-merger insolvency, and specific performance of debt financing commitments. Most of these buyouts, including Home Depot Supply ($9 billion) and Harrah's Entertainment ($30 billion), funded and closed.
- Interstate Bakeries to litigate against certain lenders that balked on their commitment to provide financing to facilitate the company’s exit from chapter 11 bankruptcy.
- A foreign battery manufacturer in an action brought by a large manufacturer of touch control panels over responsibility for alleged product defects and recall costs.
- One of the nation's largest hotel companies (owners) in attorney general and putative class actions arising out of alleged consumer fraud. In February 2007, a New York court issued a ruling denying nationwide class certification.
- Cigarette manufacturer Liggett Group Inc. in ten jury trials, including several in which Liggett was the sole defendant. A March 2006 verdict in favor of Liggett (returned in 90 minutes) is believed to be the fastest rendered jury verdict in the 50-year history of litigation against cigarette manufacturers.
- Real estate developers in litigation concerning ownership, financing disputes, and eminent domain.
- Professional athletes in disputes concerning promotional contracts, endorsement deals and use of performance-enhancing drugs.
- Video-game maker Take-Two Interactive Software in shareholder derivative actions arising out of alleged insider trading.
- Cigarette manufacturer Liggett in state and federal class action cases alleging price fixing by all major cigarette companies.
- Armstrong World Industries, a leading manufacturer of floor tiling, in defending claims of a purported nationwide class of millions of residential and commercial property owners. The court denied plaintiffs’ motion to certify the proposed class.
- A large Brazilian bank in a fraud action brought by Bank of America and in various arbitrations brought by disgruntled account holders.
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Related Information
Education
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Emory Law School
(J.D., 1993)
Editor, Emory Law Journal
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University of Pennsylvania
(B.A., B.S., 1990)
Court Admissions
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U.S. District Court, District of New Jersey, 1993
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U.S. Court of Appeals, Fifth Circuit, 1996
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U.S. Court of Appeals, Fourth Circuit, 1997
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U.S. District Court, Eastern District of New York, 1998
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U.S. District Court, Southern District of New York, 1998
Associations / Memberships
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