A Miami-based international bank steered hundreds of "private" Latin American clients to invest with Bernard L. Madoff Investment Securities, Inc. Madoff claimed to achieve spectacular results investing in the stock market, missing almost every single market drop over nearly 20 years. Madoff was revealed to be a total fraud. Many clients of the bank, including three of mine, sued the bank for not understanding that Madoff's claims were "too good to be true."
A famous Wall Street Big Law firm represented the Bank. While most institutions in the bank settled with their former clients, not this bank. It tried to run their former "private banking" clients ragged. They dragged their feet and did everything they could to delay or prevent their own clients from getting to a trial--typical tactics designed to make their clients beg for a cheap settlement.
There were over 50 different plaintiffs represented by 9 different lawyers. The plaintiffs' lawyers chose me to be "Liaison Counsel." I was primarily responsible for developing and carrying out our legal strategy. I did everything from legal research and brief-writing to deposition-taking and -defending and to arguing in court.
After almost seven years of the Bank's delay tactics, we defeated the bank's motion for summary judgment--meaning that the bank faced jury trials in Miami. Immediately, the bank sued for peace. Every case settled.
