WilmerHale Team Recognized in Daily Journal’s Top Verdicts 2019 for Representing Bank of America in a Qui Tam Case

WilmerHale Team Recognized in Daily Journal’s Top Verdicts 2019 for Representing Bank of America in a Qui Tam Case

Recognition

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Drawing on our extensive experience in senior government roles and in private practice, our team has successfully represented clients in difficult, high-stakes FCA investigations and litigation, and advised clients on practical strategies for reducing FCA risk through internal compliance programs.

The Daily Journal has recognized WilmerHale for its representation of Bank of America in a qui tam California False Claims Act case in its 2019 “Top Verdicts” list. This annual series highlights the most impactful verdicts in California courts in 2019.

In the featured case, the WilmerHale team defended Bank of America against allegations of fraud in municipal bond underwriting. The relators, who filed identical cases in other states, alleged that the defendants—banks providing underwriting services—had fraudulently underpriced hundreds of municipal bond offerings for over a decade. On March 26, 2019, Judge Mary E. Wiss of the Superior Court of San Francisco County dismissed all claims against Bank of America and the other defendants with prejudice.

Partners Jonathan Cedarbaum and Matthew Benedetto led the team representing Bank of America, and Benedetto argued the motion to dismiss. The team included Jonathan Paikin, Justin Baxenberg and Kevin Gallagher.

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