Mark E. Segall, Esq. 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 in which he has brought to bear the extensive experience he gained managing litigation and difficult, high-profile matters both domestically and world-wide during his 20-year tenure 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 for the past seven years. The litigation spanned JPMC’s six businesses -- Investment Banking, Retail Financial Services, Card Services, Commercial Banking, Treasury & Security Services, and Asset Management. Most of the important cases brought against JPMC involved claims under the securities laws as did countless more mundane matters. Securities claims were asserted in both litigation and arbitration, and many of these cases were resolved as a result of successful mediations. Mr. Segall negotiated with a wide range of institutional litigants including hedge funds, insurance companies, public pension funds, other investment banking firms, real estate firms, trustees and creditors’ committees in bankruptcies, and Fortune 500 companies.
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
- Supervised the negotiation of the settlements of the IPO Allocation Cases
- Supervised the negotiation of the settlements of numerous securities cases in which JPMorgan Chase was a defendant including both class actions and cases brought by individual plaintiffs
- Was part of the team that negotiated the settlement of the auction rate securities litigation with the state attorney generals
At JPMorgan Chase was responsible for the following:
- Strategy, tactics, reserves, and settlements of the Firm’s extraordinarily large portfolio of securities cases including numerous cases arising out of underwritings, putative class action securities cases brought by purchasers of securities in heritage institutions such as Bank One Corporation and Bear Stearns, FINRA arbitrations and cases brought by individual and corporate customers who claimed to have been defrauded
- Supervision of the creation of an Early Dispute Resolution program for actual and threatened claims against JPMC
- Oversight of the Firm’s significant regulatory investigations including investigations conducted by the Securities and Exchange Commission, the New York State Attorney General’s office and other state attorney generals, and FINRA as well as internal investigations of alleged wrongdoing
- The setting and maintenance of appropriate litigation reserves in securities matters as well as all other cases brought against JPMC
- Litigation disclosure in the Firm’s public filings and for reporting on litigation to the Audit Committee of the Board of Directors, JPMC’s outside auditors, the underwriters of its securities and its regulators
- Management of outside litigation counsel and control of outside legal expenses on litigation
- Supervision of an in-house Evidence Lab responsible for the first stage of gathering and production of electronic evidence, the subpoena compliance group, and a regulatory response unit
While in private practice, Mr. Segall specialized, among other things, in complex securities cases including cases alleging violations of the Securities Act of 1933, the Securities Exchange Act of 1934, and related claims under applicable state law and the common law as well as merger and acquisition litigation involving claims under the securities laws.