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Timothy W Mungovan
Partner

Private Investment Funds
Commercial Litigation

t: 617.526.9412

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t: 212.969.3201

f: 212.969.2900

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Biography

Press Room

Timothy Mungovan is a Partner in the Litigation Department, co-head of the Private Investment Funds Dispute practice and a member of the Private Investment Funds Group. Tim has an international practice in complex commercial litigation, advising public and private companies in a variety of areas, including securities, corporate governance, fiduciary obligations, investment management and financial services, fraud and trade secrets.

In addition to his regular commercial litigation practice, Tim focuses on disputes involving private investment funds including hedge, private equity and venture capital funds and other limited partnerships. He has advised funds, fund sponsors, investment advisers, managers, principals, feeder funds, institutional and individual investors in various disputes, including control contests, partnership disputes, restructurings, removal of a general partner and claims of fraud. He is widely recognized for litigating hedge fund fraud and representing investors in redemption disputes.

Tim is ranked as a leading lawyer by Chambers USA, which notes his special focus on disputes involving funds, and has been recognized by Benchmark Litigation as a litigation star in Massachusetts. Tim is also recognized by Best Lawyers in America, where clients laud him as a highly skilled and experienced lawyer with unmatched integrity, impressive work ethic, knowledge base and communication style, as well as for his skills in the courtroom.

Tim has published numerous articles and client alerts on a range of legal issues, with a particular emphasis on private fund disputes. He has spoken extensively at investment management and hedge fund industry conferences and seminars, and is frequently sought out by major media outlets for his insights into breaking legal trends and current issues.

Prior Key Representations

Investment Fund Disputes

Investors in the International Management Associates Ponzi scheme/hedge fund fraud, defending against claw back actions filed by the trustee in bankruptcy who is seeking to recover redemptions of principal and profits
An institutional investor and member of the liquidation committee of Fairfield Sentry Limited, the largest Madoff feeder fund, concerning complex issues including settlement with Madoff trustee Irving Picard, claims of fraud, claw back actions, investor class actions, distribution of recovered assets, and Chapter 15 proceedings in U.S. Bankruptcy Court
A large European investment fund that lost approximately $400 million in various Madoff feeder funds in the Madoff bankruptcy case
The institutional limited partners and members of the LP advisory committee of two venture funds with combined assets of $670 million that were managed and advised by Bay Partners in a forced restructuring of the management successfully negotiating a resolution through mediation that preserved the value of the investment portfolio and restructured fund management while avoiding litigation
Boston Financial Qualified Housing Tax Credits L.P. IV , a public limited partnership, and its general partner in defeating a limited partner’s efforts to gain control of the limited partnership by removing the general partner through a consent solicitation and litigation
A private equity fund and two individual partners in litigation brought by a commercial lender arising out of the liquidation of a portfolio company, obtaining the dismissal of litigation against two individual partners and settling on highly favorable terms
A registered investment adviser who placed more than forty clients into a hedge fund that failed in October 2008, two months after the initial investment, Successfully settling claims against the hedge fund and obtaining a full general releases for the adviser

Securities and Investment Management Litigation

Two special purpose vehicles (domiciled in Delaware and Cayman Islands, respectively) in the defense of a securities class action alleging fraud under both New York law and Section 10(b) of the Securities Exchange Act of 1934, arising out of losses that the plaintiff investment fund suffered in two synthetic collateralized debt obligation transactions
A leading broker-dealer and registered representative, obtaining a complete defense award in a FINRA securities arbitration, where investor-claimants sought millions in damages for alleged negligence, breach of fiduciary duty, unsuitability, failure to execute, unauthorized trading, failure to supervise, and breach of contract

Complex Commercial Litigation

MobileMedia Ideas (MMI), a patent portfolio licensor of inventions adopted by manufacturers of mobile phones and mobile media technologies, in a patent infringement case against Apple, Inc. The patents at issue related to features of the iPhone camera and phone call handling and rejection. After a seven-day trial, the jury deliberated for just four hours and found that Apple infringed three patents owned by MMI. A separate trial relating to damages will take place at a later date
State Street Bank in an action against former executives in its securities lending division and others for employee raiding, breaches of fiduciary duty, and aiding and abetting breaches of fiduciary duty
Triton Systems of Delaware, Inc. in an action against its former President, VP of Sales, and VP of Engineering who had taken confidential information and set up a competing business, obtaining a preliminary injunction and final judgments for theft of trade secrets, breach of fiduciary duties, breach of duty of loyalty, and breach of contract.
A corporation, its officers, and directors in obtaining the dismissal by stipulation of a shareholder derivative action brought by former senior executives and major shareholders
A corporation, the seller in a failed M&A transaction, in which the prospective purchaser submitted falsified documents as part of an HSR filing, in obtaining a favorable settlement with the purchaser who pleaded guilty and paid a fine for obstruction of justice with a premerger filing and in an investigation by the Antitrust Division of the Department of Justice
Northeast Utilities Service Company, defending claims of breach of contract and violation of state law arising from a dispute over charges under an electricity supply agreement, settling the case without any payment or other consideration from the utility

Government Investigations and Regulatory

A hedge fund and its manager in insider trading investigations launched by the U.S. Attorney in the Southern District of New York and by the SEC concerning the use of “expert networks”
A hedge fund, its manager, and trader in connection with SEC investigation for insider trading arising from a trade in listed call options in the hours preceding a takeover announcement, successfully obtaining a termination notice six months after the investigation was opened
A registered investment adviser and private wealth manager in an SEC investigation of collapsed hedge fund, resulting in no action being taken against the client
A global asset manager in an investigation by the Massachusetts Attorney General of a registered representative’s sales and marketing practices and the ability of municipalities to invest legally in certain financial products, which settled with the filing of an Assurance of Discontinuance

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