Mr. Joralemon represents financial institutions, multinational companies and senior executives in financial and securities litigation, complex commercial disputes, internal investigations and regulatory proceedings.
He has successfully defended a wide range of clients in high-profile matters involving some of the most noteworthy financial cases of the last twenty years. For example, Mr. Joralemon represented Chevron Corporation in "the case of the century" as a key member of the Gibson Dunn trial team that successfully prosecuted a RICO action to block enforcement of a fraudulent US$9 billion judgment issued in Ecuador.
Early in his career, Mr. Joralemon also orchestrated an important victory on behalf of a former mutual fund executive in a closely watched "market timing" enforcement action by the Securities and Exchange Commission. Following an appeal by the SEC from an order dismissing the action, an en banc panel of the First Circuit Court of Appeals rejected the SEC's efforts to expand the scope of Rule 10b-5 primary liability based on an actor's "central role" in the securities markets. The decision was widely lauded by the business and financial communities.
Most recently, Mr. Joralemon achieved a noteworthy victory on behalf of leading beauty products manufacturer Coty Inc. by defeating a securities class action arising out of the company's $1 billion IPO. Despite the complaint's inclusion of seven "confidential informants" supporting an allegation that Coty had failed disclose negative material trends in its business, the court rejected the claims as a "classic example of Monday morning-quarterbacking," and granted Coty's motion to dismiss with prejudice.
Mr. Joralemon currently represents Vale S.A., one of the world's largest mining companies, in a billion-dollar putative securities class action filed in the wake of the Fundão Dam accident in Brazil. He also is defending global financial services provider Macquarie in a fraud suit seeking hundreds of millions of dollars in damages in connection with a substantial infrastructure project financing. Mr. Joralemon also is leading the representation of a prominent accounting firm in an SEC investigation concerning audits of a publicly traded international technology company.
Other Representative Matters:
- Goldman Sachs, Citigroup, Merrill Lynch, Morgan Stanley, UBS and BNY Mellon Capital Markets: Obtained voluntary dismissal with prejudice of a putative securities class action concerning The Bank of New York Mellon's foreign exchange practices.
- TCW Asset Management Company: Achieved complete victories in two unrelated post-financial crisis lawsuits involving multi-billion-dollar collateralized debt obligations, including a pleading-stage dismissal affirmed by the Court of Appeals for the Second Circuit.
- The Royal Bank of Canada: Favorably resolved highly publicized regulatory and civil proceedings arising out of structured finance investment losses realized by five Wisconsin School Districts in the wake of the global financial crisis.
- Moody's: Secured positive eve-of-trial settlements of two separate investor actions stemming from the collapse of multi-billion-dollar structured investment vehicles during the global financial crisis.
- Morgan Stanley and The Bank of New York Mellon: Negotiated advantageous settlements in $5 billion civil litigation relating to the collapse of Adelphia Communications Corporation.
- Citigroup: Won summary judgment in a $13 billion class action litigation arising out of the failure of Parmalat.
- Merrill Lynch: Successfully navigated a broad range of Enron-related hearings, investigations and proceedings.
- SMBC Capital Markets: Won dismissal of a federal False Claims Act qui tam action—affirmed in a seminal Second Circuit decision—involving the municipal bond market "yield burning" scandal.
Throughout his career, Mr. Joralemon has remained committed to pro bono and charitable activities. He currently leads a team of attorneys working to exonerate a man wrongly convicted of murder almost twenty years ago. He also has supervised young attorneys handling criminal appeals on behalf of the District Attorney's Offices for Kings and Queens Counties, has represented the Republic of Liberia in disputes involving diplomatic operations in New York and has organized groups of lawyers to monitor polling locations in several states as part of non-partisan voter protection efforts during the last two presidential elections. Mr. Joralemon also has coordinated fundraising efforts through law firm participation in corporate sporting events on behalf of charitable organizations dedicated to preventing domestic abuse and providing a safe haven for victims of domestic violence.
Mr. Joralemon graduated magna cum laude from Boston University
School of Law, where he served as Editor of the Boston University Law