Nicholas Due east. Chimicles

Bio

Mr. Chimicles has been lead counsel and pb trial counsel in major complex litigation, antitrust, securities fraud and alienation of fiduciary duty suits for over 30 years. Representative Cases include:

  • In three related cases involving the collection of improperly imposed telephone utility users taxes, Mr. Chimicles was co-atomic number 82 counsel representing taxpayers in the Superior Court in Los Angeles, resulting in the creation of settlement funds totaling more than $120 million. Ardon v. City of Los Angeles ($92.5 million)(2016); McWilliams v. City of Long Beach ($16.6 million)(2018); and Granados v. County of Los Angeles ($xvi.9 million)(2018). The suits were settled later the Supreme Court of California unanimously upheld the rights of taxpayers to file class action refund claims under the California Regime Code.
  • W2007 Grace Conquering I, Inc., Preferred Stockholder Litigation, Civ. No. 2:13-cv-2777, involved various violations of contractual, fiduciary and corporate statutory duties by defendants who engaged in various related-party transactions, wrongfully withheld dividends and fiscal information, and failed to timely hold an annual preferred stockholder meeting.  This litigation resulted in a swift settlement valued at over $76 1000000 afterward 10 months of hard-fought litigation.
  • Lockabey v. American Honda Motor Co., Example No. 37-2010-87755 (Superior Ct., San Diego). A settlement valued at over $170 1000000 resolved a consumer activity involving false advertising claims relating to the sale of Honda Civic Hybrid vehicles besides as claims relating to a software update to the integrated motor assist battery system of the HCH vehicles. Equally a lead counsel, Mr. Chimicles led a case that, in the courtroom'due south view, was "hard and risky" and provided "significant public value
  • City of St. Clair Shores Full general Employees Retirement System, et al. v. Inland Western Retail Real Manor Trust, Inc., Case No. 07 C 6174 (N.D. Ill.). A $90 million settlement was reached in 2010 in this grade action challenging the accuracy of a proxy statement that sought (and received) stockholder approval of the merger of an external advisor and property managers by a multi-billion dollar real manor investment trust, Inland Western Retail Real Estate Trust, Inc. The settlement provided that the owners of the advisor/property manager entities (who are also officers and/or directors of Inland Western) had to return virtually 25% of the Inland Western stock they received in the merger.
  • In re Real Manor Assembly Limited Partnerships Litigation, No. CV 98-7035 DDP, was tried in the federal district court in Los Angeles earlier the Honorable Dean D. Pregerson. Mr. Chimicles was lead trial counsel for the Class of investors in this six-week jury trial of a securities fraud/alienation of fiduciary duty instance that resulted in a $185 meg verdict in belatedly 2002 in favor of the Class (comprising investors in the viii REAL Partnerships) and against the REALs' managing general partner, National Partnership Investments Visitor ("NAPICO") and the four individual officers and directors of NAPICO. The verdict included an award of $92.five one thousand thousand in punitive amercement confronting NAPICO. This total verdict of $185 meg was amongst the "Meridian 10 Verdicts of 2002," as reported by the National Constabulary Journal (verdictsearch.com). On post-trial motions, the Court upheld in all respects the jury'south verdict on liability, upheld in full the jury's award of $92.v million in compensatory damages, upheld the Class's entitlement to punitive damages (but reduced those amercement to $two.vi one thousand thousand based on the application of California law to NAPICO's financial condition), and awarded an boosted $25 million in pre-judgment interest. Based on the Court'due south decisions on the post-trial motions, the judgment entered in favor of the Class on April 28, 2003 totaled over $120 1000000.
  • CNL Hotels & Resorts, Inc. Securities Litigation, Case No. vi:04-cv-1231 (M.D. Fla., Orl. Div. 2006). The example settled Sections 11 and 12 claims for $35 million in greenbacks and Department xiv proxy claims past significantly reducing the merger consideration by nearly $225 million (from $300 million to $73 one thousand thousand) that CNL paid for internalizing its advisor/manager.
  • Prudential Limited Partnerships Litigation, MDL 1005 (Southward.D.Due north.Y.). Mr. Chimicles was a member of the Executive Committee in this case where the Grade recovered from Prudential and other defendants $130 million in settlements, that were approved in 1995. The Class comprised express partners in dozens of public limited partnerships that were marketed past Prudential.
  • PaineWebber Limited Partnerships Litigation, 94 Civ. 8547 (Due south.D.North.Y.). Mr. Chimicles was Chairman of the Plaintiffs' Executive Committee representing express partners who had invested in more than 65 limited partnerships that PaineWebber organized and/or marketed. The litigation was settled for a total of $200 meg, comprising $125 one thousand thousand in cash and $75 million in additional benefits resulting from restructurings and fee concessions and waivers.
  • In Re Phoenix Leasing Incorporated Express Partnership Litigation, Superior Courtroom of the State of California, Canton of Marin, Case No. 173739. In February 2002, the Superior Court of Marin County, California, approved the settlement of this case which involved v public partnerships sponsored past Phoenix Leasing Incorporated and its affiliates and resulting in entry of a judgment in favor of the class in the corporeality of $21 million.
  • In re the Mendik Real Estate Limited Partnership, N.Y. Supreme Ct. No. 97-600185. Mr. Chimicles, as co-lead counsel, negotiated a settlement which provided for the prompt sale of more than $100 one thousand thousand of the partnership's real estate avails. Additionally, as co-lead counsel, Mr. Chimicles, together with partner Pamela Tikellis, negotiated the settlement of a suit filed against the general partners of Aetna Real Estate Associates, L.P., providing for the orderly liquidation of the more than $200 1000000 in that partnership's real manor holdings, the reduction of general partner fees and the payment of a special greenbacks distribution to the limited partners. (Aetna Existent Estate Associates, 50.P., Surface area GP Corporation and Aetna/Area Corporation, Delaware Chancery Court, New Castle County, Civil Action Nos. 15386-NC and 15393-NC).
  • Continental Illinois Corporation Securities Litigation, Civil Action No. 82 C 4712 (N.D. Ill.) involving a twenty-week jury trial in which past Mr. Chimicles was pb trial counsel for the Course that ended in July, 1987 (the Class ultimately recovered nearly $forty million).

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