Mark E. Segall, Esq. has extensive experience managing litigation and handling difficult, high profile financial services matters domestically and worldwide for the past two decades at JPMorgan Chase (JPMC) and its predecessor firms. Mr. Segall possesses a thorough understanding of the complex issues involved in resolving financial industry disputes, the result of having served as JPMC’s Head of Litigation, Senior Vice President, and Associate General Counsel from 2003 until 2010. The litigation spanned JPMC’s six businesses -- Investment Banking, Retail Financial Services, Card Services, Commercial Banking, Treasury & Security Services, and Asset Management. The claims ran the full gamut from the most high profile securities and antitrust cases to consumer class actions, employment matters, and international litigation and arbitration. Mr. Segall negotiated with a wide range of institutional litigants including hedge funds, insurance companies, public pension funds, other investment banking firms, patent holders, real estate firms, trustees and creditors’ committees in bankruptcies, and Fortune 500 companies.
ADR Experience and Qualifications
Mr. Segall is widely recognized as one of the country’s leading experts on the evaluation of litigation risk, settlement strategy and mediation of cases involving financial services firms. He has been an active speaker at industry and litigation conferences and a participant in court-appointed focus groups. Since joining the JAMS Financial Markets Group in August 2010, Mr. Segall has been engaged in a variety of complex matters.
Representative Mediations
- Mr. Segall has mediated the following representative complex cases since joining JAMS:
- Securities cases involving swap transactions and the effect of bankruptcy proceedings on the monies owed under the swap agreements, and trading disputes between sophisticated financial institutions on both sides involving distressed debt
- Complex international matter involving an alleged Ponzi scheme and resulting litigation alleging, among other things, fraud, breach of fiduciary duty, and negligence. The plaintiffs included those charged with the liquidation of the funds at issue, and the defendants included a major financial institution, former directors of the funds, the company responsible for administration of the funds, and a major accounting firm that audited the funds
- Consumer fraud case brought by a State Attorney General’s Office against a major credit card issuer resulting in a very substantial and well-publicized settlement involving credit card practices in which the issuer engaged from 2001-2005
- Employment cases involving the enforcement of restrictive covenants in situations where senior officers of a company were hired by another company, claims of wrongful failure to pay incentive compensation upon termination of an employee, a dispute relating to the expiration date for certain options, and a claim of retaliatory discharge
- Breach of contract dispute involving the sale of an insurance business from one major financial institution to another
- Trademark dispute involving who had the right to sell certain grocery products in Asia in light of agreements that were reached many years earlier when a major corporation engaged in the divestiture of certain assets across the globe
- Negotiated or supervised settlements on a number of high profile matters at JPMorgan Chase, including the following:
- Negotiated the settlement in Enron following mediation with the bank lenders and purported successors-in-interests who together held over $1 billion in Enron bank debt and was part of the team that negotiated JPMC’s recovery of $502 million plus claims valued at the time of $75 million from certain insurance companies, the team that negotiated the $2.2 billion settlement of the Newby class action, and the team that negotiated the settlements with the SEC and the New York District Attorney’s Office
- Negotiated the $55 million settlement following mediation of the claim of the bankruptcy trustee in American Business Financial Services
- Negotiated and supervised various settlements, which included mediations, with the noteholders, the SEC, and other parties involved with National Century Financial Enterprises
- Negotiated settlements, which included mediations, with other financial institutions, the trustee in bankruptcy, and the auditing firm for Arochem Corporation
- Negotiated settlement, which included mediation, of the Copper Antitrust Litigation, which arose out of heritage J.P. Morgan’s dealings with Sumitomo Corporation
- Part of the negotiation team that reached settlements related to Iridium with Motorola, Raytheon, Lockheed Martin, the Iridium creditors’ committee, and other corporate defendants
- Negotiated settlement through a mediation during trial of a very significant litigation against alleged guarantors of certain obligations to one of JPMC’s predecessor firms
- Supervised the negotiation of the settlements of the IPO Allocation Cases
- While serving as JPMC’s Head of Litigation, Senior Vice President, and Associate General Counsel from May 2003 to January 2010, he:
- Personally negotiated the settlements of a number of high profile matters and supervised the negotiation of settlements and the conduct of mediation in countless other matters ranging from large securities and antitrust cases to consumer class actions, check fraud cases, and employment litigation brought both individually and on behalf of classes of employees
- Supervised the creation of an Early Dispute Resolution program for actual and threatened claims asserted against JPMC
- Led all of the Firm’s litigation worldwide and was instrumental in developing the litigation strategy and tactics used in those cases
- Set and maintained appropriate litigation reserves and was responsible for litigation disclosure both inside and outside the Firm
- Supervised the Human Resources Law Group, an in-house Evidence Lab responsible for the first stage of the gathering and production of electronic evidence, the subpoena compliance group, and a regulatory response unit
- Was instrumental in the creation and administration of the Firm’s pro bono legal program
- While serving as Head of JPMC’s Workout, Bankruptcy, and Antitrust Group in Litigation from 1996 to 2003: he
- Had primary responsibility for a number of significant matters and their ultimate resolution such as (1) the litigation brought by JPMC against the insurance companies that had issued surety bonds relating to certain financial transactions, (2) the actual and threatened litigation against Motorola, Raytheon, Lockheed-Martin, the Firm and others involving the collapse of Iridium, and (3) the worldwide litigation against the insurers of certain film financing -- Axa, AIG, and numerous others
- Negotiated or supervised the settlements of litigation with the accounting firm, other financial institutions, and the trustee in bankruptcy in Arochem, much of which was accomplished through the use of mediation
- Led antitrust clearance of the Chemical/Chase merger and the J.P. Morgan/Chase mergers by the United States Department of Justice, Federal Reserve Board, and New York State Banking Department
- Successfully argued the challenge to the Chemical/Chase merger in the United States Court of Appeals for the Second Circuit