Richard Slack

Partner

Weil, Gotshal & Manges LLP

Current

Current

Excite@Home/AT&T LitigationCo-lead counsel representing a litigation trust established on behalf of the former bondholders of At Home Corporation suing the former controlling shareholder of At Home, AT&T Corporation, and certain former officers and directors of At Home for breaches of fiduciary duty and theft of trade secrets. We successfully recovered $400 million on the eve of trial for our clients in one of the largest settlements of its kind ever out of bankruptcy litigation. Excite@Home/Comcast LitigationCo-lead counsel representing a litigation trust suing Cox Communications Inc. and Comcast Corporation for breaches of fiduciary duty as controlling shareholders of At Home in the Court of Chancery in Delaware. The action was settled for $80 million, pending approval of the bankruptcy court.  First BanCorp LitigationsSuccessfully represented First BanCorp in securities and derivative lawsuits pending in Federal Court in Puerto Rico arising out of the Company’s announcement that it would be restating its financial statements. Pearson v. Hicks, Muse, Tate & Furst, et al.Co-lead counsel for defendants in an action brought by Pearson plc claiming that defendants breached an agreement to buy certain of Pearson’s media assets by falsely terminating pursuant to the misuse of a material adverse change clause in the purchase agreement between the parties. Managed and coordinated significant discovery and participated, with client representatives, in a mediation that resulted in a favorable settlement. Official Committee of Unsecured Creditors of Montgomery Ward v. General Electric Capital Corporation et al.Co-lead counsel in defending General Electric Capital Corporation (“GE Capital”) in a litigation arising out of the bankruptcy and subsequent liquidation of Montgomery Ward. The creditors committee of Montgomery Ward brought a lawsuit alleging claims of equitable subordination and breach of fiduciary duty, among other claims, seeking in excess of $350 million from GE Capital. Helped develop and design the litigation strategy that resulted in a successful settlement for a small fraction of the amounts sought in the litigation. Also developed and argued the key discovery motion, which successfully narrowed the case and lead quickly thereafter to the favorable settlement. Riverfront Office Park Associates II v. BRE/ROPA II, et al.Lead counsel for Blackstone Real Estate Advisors, which was a lender to the owner of office buildings in Cambridge Massachusetts. Authored a lawsuit seeking to declare the owner of the properties in default on its mortgage and sought sale or ownership of the property. Successfully litigated the case through significant fact and expert discovery, and negotiated a significant settlement on the eve of taking the case to trial. Millcreek Associates v. Bear Stearns, et al.Lead counsel for Wildbrain and its directors which were sued by an alleged shareholder for violations of Section 10(b) of the Securities Exchange Act of 1934. The claims were successfully dismissed. Litigation Arising Out of the Restructuring of Telewest plcCo-lead counsel representing Telewest plc in a number of lawsuits in the United States brought by noteholders arising out of a proposed financial restructuring of the company. The lawsuits alleged that Telewest and its officers and directors breached their fiduciary duties and the United States securities laws in carrying out the restructuring. Helped design and implement a successful strategy to have the litigations stayed pending the approval of the financial restructuring by the company's creditors and the Courts. Ariad Pharmaceuticals v. Promethean Investment Group, et al.Represented Ariad Pharmaceuticals in connection with litigation with certain preferred stockholders arising out of the company’s issuance of floating convertible preferred stock, sometimes referred to as “toxic convertible” stock, and the practice of the particular preferred stockholders of short-selling the company’s common stock. Co-lead counsel for Ariad in bringing a lawsuit alleging violations of Sections 10(b), 13(d) and 16(b) of the Securities and Exchange Act of 1934. Took and defended key depositions, and ultimately co-led successful settlement negotiations.

Washington University

J.D.

1986

University of Michigan

B.A.

1983

with honors

Publication

Publication

Publication

Publication

Publication

Publication

Section 13(d) and Section 16(b) Issues Relevant to Floating Convertible Stock (New York, June 21, 2000) New York State Bar Association, Business Law Section, Committee on Securities Regulation

Future-Priced Securities: How can small companies in need of capital use these securities to their benefit? What are the pitfalls? (New York, April 18, 2000) Biotechnology Company Investing Conference