Sheron Korpus is a first-chair litigator and trial lawyer, with extensive experience in multi-billion dollar commercial, complex financial, securities, antitrust, bankruptcy and intellectual property disputes. Sheron has tried cases in federal and state courts, as well as arbitration panels, across the U.S.
Sheron has been recognized as a leading lawyer in commercial, securities and antitrust litigation by Chambers USA where clients note that he “gets right to the nub of the problem; he is really able to focus on what is most important,” and describe him as “a very smart lawyer who is measured and respectful but can be aggressive when need be.” He is also recognized as a leading lawyer in securities litigation, as well as in antitrust litigation, by the Legal 500, with clients describing him as “very bright and quick-thinking, showing attention to detail with a clear view on the big picture,” “smart, strategic, trustworthy, and easy-going but a fierce and effective advocate,” and note that “he understands clients’ needs and provides legally sound guidance.” Lawdragon also named Sheron as one of the Leading Plaintiff Financial Lawyers in the U.S. He is recognized as a New York Local Litigation Star by Benchmark Litigation, a US Life Science Star by LMG Life Sciences, and a New York Super Lawyer. He was honored as an Antitrust and Mergers & Acquisitions Trailblazer by the National Law Journal. Peers have commented that Sheron “has outstanding skills as a trial lawyer and a broad and deep knowledge of commercial, securities and bankruptcy law,” and that “he can really carve up a hostile witness.”
Prior to joining Kasowitz, Sheron was a partner at White & Case.
Work Highlights
- Teva Pharmaceuticals and its individual directors and officers in defense of one of the largest securities class actions currently pending as well as the more than 20 related direct actions, filed on behalf of more than 75 opt-out plaintiffs.
- Teva Pharmaceuticals, the world’s largest generic drug manufacturer (headquartered in Israel), and its US subsidiary Actavis, in defense of antitrust actions commenced by the State Attorneys General for 48 states, 28 civil antitrust class actions and three direct actions.
- Loreley Financing in analyzing and bringing claims against major investment banks and other financial institutions concerning billions of dollars of collateralized debt obligations and other structured finance products. In 2014, Sheron secured three victories for Loreley in The New York Appellate Division, First Department (including one reversal). In 2015, Sheron secured a reversal in favor of Loreley in the Second Circuit Court of Appeals.
- Rotem Rosen, a real estate developer, in several disputes with his former partner Alex Sapir, including a $100 million claim against the estate of oligarch Tamir Sapir, arising from the refusal of Alex Sapir, as executor of his father’s will, to honor previous agreements and promises to compensate Rosen after he devoted years to enhance the value of the estate by repositioning assets for record-setting market sales.
- Hudson Solar Cayman as creditor in a dispute seeking payment by a public company pursuant to a guaranty on notes with a principal amount of approximately $54 million.
- A group of retail investors against Humanigen, a biopharmaceutical company engaged in Phase III clinical studies of its proprietary compound Lenzilumab, in a dispute alleging breach of contract relating to participation in a PIPE transaction in Humanigen.
- Comcast Corporation in three antitrust class actions brought by a putative class of two million subscribers in each case. These are test cases for the entire cable industry. The U.S. Supreme Court ruled in favor of Comcast in a landmark 5-4 decision that, based on Sheron's cross-examination of Plaintiffs' damages expert, overturned class certification. Sheron was recognized in Law360's Weekly Roundup as a "Legal Lion" following the Supreme Court's decision.
- Mahindra and Mahindra Limited, one of the largest conglomerates in India, and its subsidiaries in multiple disputes.
- Colony Capital-led ERC 16W Limited Partnership, former developer of the Meadowlands Xanadu project, a retail and entertainment complex in New Jersey, in a dispute against Xanadu Mezz Holdings and Lehman Brothers Real Estate Mezzanine Partners, two non-bankrupt affiliates of Lehman Brothers, alleging claims for breach of a $1 billion construction loan agreement and related cure agreement. ERC had been forced to abandon its substantial investment in the project after XMH abruptly refused to continue to fund its share of the construction loan following the Lehman Brothers bankruptcy in 2008. The matter then settled confidentially following discovery and summary judgment argument.
- Emergent Capital and its subsidiary White Eagle in lender liability claims in connection with a $370 million facility.
- The founder and CEO of a payment services company in multistate litigation against the company’s controlling noteholders and board representatives.
- The developer of one the largest real-estate projects in the Tri-State area in disputes and litigation with the lender group.
- A $9 billion private equity firm in an arbitration against a former partner. Sheron achieved a significant victory in the arbitration, dismissing the $50 million claim and prevailing on counterclaims eliminating the claimant's residual equity interest in the fund.
- Parties in bankruptcy related disputes, including a purchaser of receivables in the Avianca Airlines bankruptcy, the indenture trustee for the pre-LBO notes in the Tribune Company bankruptcy, a committee of trade creditors in Enron Corp.'s bankruptcy, debtors Mirant in the tenth largest bankruptcy in U.S. history, and Fred's, a retail chain.
- Royal Bank of Canada in successful litigation concerning the waterfall provisions of certain RMBS.
- The heirs to the Herzog collection, the largest private art collection in Hungary prior to World War II, in a lawsuit against the Hungarian government seeking the return of more than 40 artworks with an estimated combined value of more than $100 million.
- Basell AF noteholders in breach of fiduciary duty litigation against the indenture trustee arising from the LyondellBasell LBO.
- Visa USA in litigation against The Reserve Primary Fund, a money market fund that “broke the buck."
- Various defendants in securities cases including having secured a dismissal of the largest claim ever filed for disgorgement of short-swing profits pursuant to Section 16(b) of the Securities Exchange Act of 1934. The decision was affirmed by the Second Circuit Court of Appeals, and Plaintiffs' petition for a writ of certiorari was denied by the U.S. Supreme Court. Also represented a leading cable company in other securities and corporate governance actions arising from the collapse of Excite@home and obtained a dismissal of a class action brought by Excite@home's shareholders.
- A leading agricultural company in intellectual property disputes, including patent infringement suits over genetically-modified corn and misappropriation of trade secret disputes relating to breeding practices.
- Commercial parties in arbitrations, including representation of a sovereign corporation in two ICC arbitrations involving over $1 billion in financial assistance.
- An international pharmaceutical corporation in numerous actions concerning patent infringement, trade secrets and licensing disputes, including litigation and arbitration over the rights to develop anti-allergy drugs.
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