Patrick Richard has more than two decades of experience as a commercial trial lawyer and serves as Chair of Nossaman's Litigation Department. Mr. Richard has significant trial experience, successfully representing publicly traded companies, individuals, and government agencies as both defendants and plaintiffs. He has been lead counsel in a dozen civil complex jury trials ranging from 2 to 12 weeks, with successful outcomes in every one of these proceedings. Mr. Richard has won precedent setting jury verdicts and has agreeably negotiated high value settlements.
Mr. Richard's clients seek his services on a broad range of commercial disputes - from complex business transactions and corporate governance to breach of fiduciary duties, class actions, and business tort actions – based on his experienced judgment and the quality of his attorney client relationships. He has worked on a number of government investigations, recently tried to verdict a case involving claims under the FCPA, and has published in Law360 an analysis of the scienter standard under the books and records provisions of the Act.
Mr. Richard is the former Chair of Nossaman's Financial Services Practice Group and his professional excellence has earned him "Super Lawyer" status in Northern California in 2005, 2009, 2010, and 2011.
Representative Work
Securities and Exchange Commission v. Sabhlok et al. Defended as lead trial counsel controller of publicly traded company (NASD: EMBT) in action by SEC over claimed stock options backdating and resulting false SEC filings. Obtained defense verdict outcomes on all securities fraud claims after 3 week federal jury trial.
Amtower v. Photon Dynamics, Inc. et al. Successfully represented Photon Dynamics, Inc. in a 5-week jury trial. Plaintiff alleged federal and state law claims of securities fraud arising out of a stock-for-stock merger agreement and registration statement, claiming that the acquiring company misrepresented that shares would be freely transferable post merger. Plaintiff alleged that aspects of the acquiring company's insider trading policy breached the duties of good faith and candor. The jury returned verdicts for all defendants on all causes of action.
FDIC v. Lent et al. Represented FDIC as lead counsel in corporate governance and accounting fraud dispute stemming from a $300 million bank failure following an internet issuance of credit cards. Negotiated successful settlements after the bank was placed into receivership.
Mitsubishi Electric & Electronics v. Hughes Network Systems. Served as lead plaintiff's counsel in breach of contract claims involving Hughes' Spaceway Program, a $3.5 billion satellite communications system. The jury returned a 12-0 verdict in favor of our client, awarding damages for breach of contract and breach of the covenant of good faith and fair dealing.
DiPirro v. Bondo Corporation. Successfully served as lead trial counsel on a case of first impression, representing a manufacturer of automotive touch-up paint accused of violating Proposition 65. Won a defense verdict in trial court, subsequently affirmed by the Court of Appeal. The determination that no product warning was warranted based on the "average consumer" standard resulted in the first published appeal following a trial decision on Proposition 65.
International Paper v. Affiliated FM. Served as plaintiff's co-counsel on an insurance recovery action arising from the failure of 22 insurance carriers to defend and indemnify International Paper for damages paid in settlement of a 1998 national class action lawsuit involving hardboard siding. In 2003, a San Francisco jury returned a verdict of $383 million in favor of the client.
In re Valley Land Investors I, L.P. Assisted the secured lender to recover a $17.5 million claim in a Sacramento-based real property development chapter 11 case.
Ortner v. Thorn Served as lead counsel for defendant attorneys in jury trial on breach of fiduciary duty claim, resulting in defense verdict and recovery on cross-complaint.
Selma Medical v. Gullian. Served as lead trial counsel for the developer, Selma Medical Center, in successful American Arbitration Association (AAA) arbitration hearing and court enforcement arising out of real estate development under the Subdivision Map Act.
Federal Deposit Insurance Corporation (FDIC). Represented FDIC in numerous prejudgment liability investigations, including matters arising out of the 2008 collapse of Indy Mac, a $32 billion depository institution.