Sarah Reid has handled a wide range of commercial litigation for major U.S. and international companies involving contract, securities, False Claims Act, business torts, environmental and intellectual property disputes. A substantial part of her practice has involved representing foreign companies in the U.S.
Named one of the “Top 50 Women” in New York Super Lawyers in 2013 and winner of “The Burton Award for Legal Achievement” in 2009 from The Burton Foundation and in association with the Library of Congress, Sarah has extensive experience in trials, arbitrations, mediations and bankruptcy-related litigation across the country. She has also argued appeals before numerous appellate courts, including before the U.S. Supreme Court.
Sarah has represented international and U.S. companies in numerous industry sectors, including the pharmaceutical, financial services, energy, telecommunications, real estate and liquor industries. She has extensive experience in False Claims Act defense, including in nationwide AWP pricing cases. In addition, Sarah has represented financial institutions, as both the plaintiff and defendant, with respect to claims arising out of defaulted securities and loans, ERISA and corporate trust issues. She is also experienced in representing directors and officers in litigations and investigations. Furthermore, Sarah counsels academic health care institutions.
Clients trust Sarah’s judgement and advice because she consistently gets the results they want. Sometimes an advantageous settlement is preferable to litigation, while other circumstances require an all-out litigation battle and trial. Regardless of the situation, Sarah has proven time and again that she is a formidable advocate who is also level-headed and reasonable. Sarah is truly appreciated for her proven ability to navigate the complexities of litigation by rising to the challenge of finding the right solution at every turn.
The Banking Law Journal, editorial board, 2012–2015.
Mediator, U.S. District Court Southern District of New York.
New York Lawyers for the Public Interest, board member 1999–2011, executive committee 2004–2011, emeritus board member 2011–present.
Commercial Litigation
Successfully represented a national testing laboratory at the New York Court of Appeals, which answered two certified questions from the Second Circuit Court of Appeals concerning whether a duty of care was owed and whether a fraud claim was stated in favor of the laboratory.
Represented a major money center bank, as plaintiff indenture trustee, before the U.S. Supreme Court in upholding a $100 million judgment obtained by the bank for the benefit of its noteholders. The case established that federal alienage diversity jurisdiction exists for corporations incorporated under the laws of a former British territory such as the British Virgin Islands.
Successfully defended a major money center bank in related cases pending in state court in Texas and state and federal courts in New York involving breach of fiduciary duty claims for over $250 million brought by distressed debt investors in Global Crossing notes. The cases settled favorably after trial. The federal case established that for purposes of federal diversity jurisdiction a bank chartered under federal law has only one domicile.
Represented a major Mexican bank, as trustee for a multimillion-dollar Mexican securitization trust for flat glass receivables, as intervenor to protect trust interests in New York state court litigation brought by distressed debt holders against a Mexican manufacturer.
Obtained a defense verdict after a week-long jury trial in federal court in Texas for a former CEO of a software company in a 10b-5 class action.
Obtained a summary judgment in federal court in New York on behalf of an independent director sued by a creditors’ committee for breach of fiduciary duty.
International Arbitration and Alternative Dispute Resolution
Represented an international plaintiff eyewear manufacturer and distributor through a hearing in an AAA arbitration successfully upholding an exclusive licensing agreement. As part of the representation, we obtained a preliminary injunction in New York state court to preserve the status quo.
Represented an international telecommunications company in an ICC arbitration sited in Hong Kong for breach of contract over intellectual property. The matter settled successfully.
Represented a foreign pharmaceutical company in an AAA arbitration over contractual ownership of rights to a monoclonal antibody.
Represented a defendant software company in an AAA arbitration brought by a telecommunications company. The case settled for a minimal payment.
Successfully represented various broker dealers in NASD arbitrations involving customer complaints and unfair competition complaints and in NYSE investigations.
ERISA
Successfully co-counseled with the Pension Benefit Guaranty Corporation through trial in federal court in New York prosecuting claims for ERISA reachback liability and fraud against a former control group of a bankrupt steel company. The case settled shortly after trial.
Bankruptcy Litigation
Represented a major energy company in a successful emergency application to enjoin drawdown of a letter of credit in the Lehman Bros. bankruptcy in New York.
Represented a major bank, as indenture trustee, in prosecuting and settling litigated make-whole and post-petition interest claims in bankruptcy for the benefit of the noteholders, including companion federal litigation.
Represented a defendant French clothing manufacturer in bankruptcy court and obtained a dismissal of action on forum non conveniens grounds. The case was transferred to France.
Represented a major bank, as plaintiff indenture trustee, in proceedings to determine rights under subordination agreements arising out of a financial institution bankruptcy.
Represented a major money center bank, as indenture trustee, in Enron bankruptcy in disputes relating to creditor priorities under various Enron agreements, including handling necessary appeals.
False Claims Act Defense
Conducted a multiyear defense of a large generic drug manufacturer in over twenty nationwide AWP pricing False Claim Act cases brought by the Department of Justice and state attorneys general involving albuterol products. The damages sought exceeded $3 billion. All cases were satisfactorily resolved before trial through negotiation or mediation.
Represents and advises companies in connection with potential governmental False Claims Act claims.
Energy
Represented a major energy company in connection with a putative federal court class action and multiple state court actions brought by over 700 residents of Greenpoint, Brooklyn, alleging personal injuries and property damage as a result of a historical spill of approximately 17 million gallons of petroleum products at a former Mobil refinery.
Represented a major money center bank as part of a trial team in a lawsuit against eleven insurance companies seeking the recovery of more than $1 billion under surety bonds involving Enron natural gas contracts. The case settled favorably after closing statements.
Represented a major chemical company in contract disputes over, among others, a requirements contract for residual fuel oil and a contract for purchase of uranium ore concentrates. The matters resolved successfully before trial.
Represented a defendant propane company in a sex discrimination case brought by the most senior female executive. The case settled favorably.
Real Estate
Represented a Belgian bank-lending syndicate member in New York litigations arising from a failed ski resort development project in Colorado. The litigations settled after the grant of a partial summary judgment in the bank syndicate’s favor.
Intellectual Property
Represented a major liquor company as a member of the plaintiff trial team in a successful bench trial in the Southern District of New York to determine ownership of a contested trademark.
Represented a major liquor company as plaintiff in a counterfeiting Lanham Act case. Obtained an ex parte attachment and summary judgment for the client.
Private Clients and Nonprofit Organizations
Represented a major money center bank as corporate trustee of the National Tobacco Growers Settlement Trust in successfully obtaining multimillion-dollar payments for tobacco growers in North Carolina State Supreme Court.
Successfully represented the executor in contested will proceedings in New York County Surrogate’s Court involving English proceedings.
Have advised and successfully represented a New York medical school on academic issues and litigation involving labor and employment, faculty, hospital privileges, affiliation agreements, academic dismissals, intellectual property and contractual disputes for over thirty years.
“The Burton Award for Legal Achievement,” The Burton Foundation, in association with the Library of Congress, 2009.
Listed in “Top 50 New York Women Super Lawyers 2013.”
Listed in New York Super Lawyers, 2007 and 2009–2016.