U. Seth Ottensoser
U. Seth Ottensoser graduated with high honors in 1992 from Queens College of the City University of New York, where he was elected to and became a member of Phi Beta Kappa. He received his J.D. in 1995 from the University of Southern California School of Law. Mr. Ottensoser has been repeatedly named a leading lawyer by Super Lawyers Magazine (2010, 2013-2016) and by Super Lawyers Business Editions for his work in securities litigation (2011, 2013-2015). In addition, he is recommended by The Legal 500 (2011, 2012; 2016).
Mr. Ottensoser concentrates his practice in the areas of merger and acquisition litigation, securities class actions, and corporate litigation. Mr. Ottensoser represents labor unions, public pension funds, individual shareholders, and hedge funds. Mr. Ottensoser has been involved in many successful class actions, including: In re Cablevision Systems Corp. Shareholders Litigation, No. 05-9752 (N.Y. Sup. Ct.) (successfully blocked a going-private transaction by a controlling shareholder leading to payment of a dividend to shareholders worth approximately $2.5 billion); In re Marsh & McLennan Cos., Inc. Securities Litigation, No. 04-CV-8144 (CM) (S.D.N.Y.) ($400 million recovery); In re Freeport-McMoRan Copper & Gold, Inc. Derivative Litigation, C.A. No. 8110-VCN (Del. Ch.) ($153.5 million recovery, representing the second largest derivative settlement in Delaware); In re Aetna, Inc. Securities Litigation, No. 01-CV-97 (E.D. Pa.) ($82.5 million recovery); In re Plains Resources, Inc. Shareholders Litigation, No. 071-N (Del. Ch.) ($67 million in additional merger consideration for the shareholders of Plains Resources); In re Triton Energy Ltd. Securities Litigation, No. 98-CV-0256 (E.D. Tex.) ($49.5 million recovery); In re Ascent Entertainment Derivative Litigation, No. 17201-NC (Del. Ch.) ($40 million derivative settlement relating to the sale of the Denver Nuggets and the Colorado Avalanche); City of Austin Police & Retirement Fund v. Kinross Gold Corp., No. 12-CV-1203 (PE) (SDNY) (settlement of $33 million); In re Waste Management Derivative Litigation, C.A. No. 17313-NC (Del. Ch.) ($25 million recovery); In re UnitedGlobalCom Shareholders Litigation, No. 1012-N (Del. Ch.) ($25 million recovery in a going-private transaction); In re Kinko’s Shareholder Litigation, C.A. No. 15180-NC (Del. Ch.) ($8.5 million recovery for a class consisting of approximately 160 shareholders); In re MONY Group, Inc. Shareholder Litigation, No. 20554 (Del. Ch.) (successfully enjoining a shareholder vote on a merger pending the issuance of curative disclosures. As part of the settlement, certain of MONY’s executives forfeited approximately $7.4 million in change-of-control payments, funding an increase in the consideration received by MONY’s shareholders); In re Atlas Energy, Inc. Shareholders Litigation, No. 5990-VCL (Del. Ch.) (settlement of $7.45 million in additional merger consideration for Atlas Energy shareholders); and In re Great Wolf Resorts, Inc. Shareholders Litigation, Cons. C.A. No. 7328-VCN (Del. Ch.) (on the heels of their expedited discovery and preliminary injunction application, the Firm helped obtain tens of millions of dollars of extra consideration for Great Wolf shareholders, as well as eliminated “don’t ask/don’t waive” standstill agreements). Currently, Mr. Ottensoser is co-lead counsel in In Re Tower Group Int’l Ltd. Securities Litigation, No. 13-5852 (S.D.N.Y.) (preliminary partial settlement of $20.5 million).
Mr. Ottensoser recently won a two-day bench trial in New York State Supreme Court on behalf of one of the Firm’s clients, in a matter relating to architectural and engineering matters.
Mr. Ottensoser also lectures on the issues of civil procedure, federal practice, class actions, securities regulation, corporate finance and corporate governance, and has written extensively and been published on those matters. Mr. Ottensoser is also a frequent guest lecturer at Harvard Law School, lecturing most recently in January 2016 on “Discounted Cash Flow Analyses: The Wrong Inputs Can Lead to Catastrophe,” in February 2015 on “Investment Banking: The Critical Component in Merger and Acquisition Litigation,” in January 2014 on “Stock Valuation in the Context of Delaware Litigation and Appraisal Actions,” in January 2013 on the topic of “Valuation of Securities: The Devil Is In The Details,” in October 2010 on the topic of “Global v. Golden and Maric v. Plato: The Importance of Discounted Cash Flow Analyses in Delaware Litigation,” and, in September 2009 on the topic of “Merger Multiples in the Context of Delaware Litigation.” In addition, Mr. Ottensoser has co‑authored many articles including: “Developments in Private Securities Litigation Pleading Standards and Other Significant Case Law Developments,” Practising Law Institute 33rd Annual Institute on Securities Regulation, November 8-10, 2001 and “Leveraged Buyouts – Issues From the Shareholder Plaintiffs’ Perspective,” Association of The Bar of the City of New York, Leveraged Buyouts and Other Private Equity Investments, Structuring and Negotiating Investments in Today’s Market, September 24, 2001.
Mr. Ottensoser is admitted to the Bar of the State of New York and to practice before the United States Courts of Appeals for the Second, Third, Eighth, and Ninth Circuits, and the United States District Courts for the Southern and Eastern Districts of New York, the District of Colorado, and the Eastern District of Wisconsin. Mr. Ottensoser has served as a member of the Special Committee on Mergers, Acquisitions and Corporate Control Contests of the Association of the Bar of the City of New York (now known as the New York City Bar Association).