Nicholas Joseph is a trial lawyer with extensive experience in complex commercial litigation. Mr. Joseph has tried cases in state and federal court, argued at the trial and appellate level (including the Delaware Supreme Court), and led litigation teams in highly publicized cases. He has litigated disputes involving federal securities law, breach of contract, fraudulent inducement, conversion, unjust enrichment, class actions, derivative claims and breach of fiduciary duty, and has particular expertise in cases concerning complex financial products, including RMBS, CDOs and CDS.
After joining the firm in 2016, Mr. Joseph achieved a complete defense victory in New York State Supreme Court. Mr. Joseph and Adam Miller were brought in as trial counsel for defendants in Doyle v. Icon, in which plaintiff had made claims for conversion and unjust enrichment. After a six-day trial, the plaintiff lost on both of its claims and recovered nothing.
Prior to joining the firm, Mr. Joseph was one of the original members of plaintiff U.S. Bank’s team in MASTR Adjustable Rate Mortgages Trust 2006-OA2 et al v. UBS Real Estate Securities Inc. in the Southern District of New York. In the first trial of an RMBS repurchase case brought by a trustee, Mr. Joseph formulated and presented the expert case concerning statistical sampling and automated valuation models (AVMs), including direct and cross-examination of witnesses and argument. The trial resulted in a victory for U.S. Bank.
Mr. Joseph also argued dispositive motions and was a member of the trial team for defendants in Quadrant Structured Products Co. Ltd. v. Vertin, a direct and derivative action by a noteholder. At trial in the Delaware Court of Chancery, Mr. Joseph formulated and presented the defense of the independent director defendants and the expert case concerning life insurance securities and tax, including direct and cross-examination of witnesses and argument. The trial, called by AmLaw Litigation Daily a “literal bet-the-company case,” was a complete victory for Mr. Joseph’s clients.
Mr. Joseph’s recent matters include:
- Defense of an individual in a civil action brought by the Commodity Futures Trading Commission in the Southern District of New York.
- Representation of a major financial services institution in a pre-litigation dispute.
- Representation of an individual in connection with an action brought by the Securities and Exchange Commission.
- Negotiations on behalf of an individual in an international dispute concerning corporate ownership and allegations of fraud.
Mr. Joseph also advises both individuals and companies on litigation risk and contractual negotiations.
Mr. Joseph has represented both plaintiffs and defendants in actions involving complex financial instruments, including:
- The FHFA in Federal Housing Finance Agency v. First Horizon Home Loan, Inc., a federal securities action relating to RMBS in the Southern District of New York. Mr. Joseph played a lead role, including taking of depositions of more than ten of the witnesses. That case resulted in settlement, including a $110 million payment from defendants.
- Assured Guaranty in Assured Guaranty Municipal Corp. v. DLJ Mortgage Capital, Inc. and Assured Guaranty Municipal Corp. v. UBS Real Estate Securities Inc., breach of contract actions relating to RMBS in New York Supreme Court, which resulted in a favorable settlement.
- Swiss Re in ASR v. Swiss Re Financial Products Corp., a breach of contract and fraud action relating to a synthetic CDO in New York Supreme Court. Mr. Joseph helped secure a complete victory for defendant Swiss Re, with all claims dismissed at the pleading stage, a ruling affirmed by the First Department.
- MBIA in MBIA Insurance Corp. v. Countrywide Home Loans, Inc., a breach of contract and fraud action relating to RMBS in New York Supreme Court, which resulted in a favorable settlement.
Mr. Joseph is a magna cum laude graduate of the University of Michigan Law School, where he was an editor of the Michigan Law Review and was elected to the Order of the Coif. He clerked for Judge Timothy B. Dyk of the Court of Appeals for the Federal Circuit and received his B.A. from Columbia University.
Mr. Joseph joined Kauff Laton Miller LLP from Quinn Emanuel Urquhart & Sullivan LLP. Prior to that, he was at Debevoise & Plimpton LLP.