Clay Pierce

Drinker Biddle & Reath LLP

$ $$$

6th Avenue 1177
New York 10036 NY US

Clay J. Pierce is a partner in the firm’s litigation group. A seasoned courtroom advocate, he has handled high-stakes litigation and arbitration matters in jurisdictions throughout the United States.

He represents a broad array of clients—from Fortune 100 companies in the financial, energy, technology, and health care industries to individual bond holders, fund managers, project developers, trustees, liquidators, and entrepreneurs.

Clay has prosecuted and defended numerous complex financial and securities suits relating to distressed businesses and investment funds. In addition, he has handled multiple disputes involving renewable energy projects, defended numerous consumer class actions, and represented several national law firms in malpractice and firm partnership disputes.

Experience :

  • Financial Litigation  : Clay has handled a broad array of financial litigation cases for high profile clients, including the following representative matters:
    • Defending the General Motors General Unsecured Claims Trust against class action and individual plaintiffs alleging harms caused by automobile ignition switch defects that GM failed to disclose prior to its 2009 bankruptcy. Includes related claims by the Trust against General Motors LLC (the purchaser of old GM’s assets) seeking over $1 billion in additional contributions to GM’s bankruptcy estate.
    • Representing banking and investment management firm in an arbitration arising from fraudulent guarantee documents submitted by commercial borrower. Includes negotiation of settlement with purported guarantor and prosecution of contract and tort claims against borrower’s former CEO.
    • Defended Fair Debt Collection Practices Act class action claims against leading credit card issuer arising from alleged misleading statements concerning credit card issuers’ obligation to file 1099 forms with the Internal Revenue Service.
    • Obtained dismissal on the pleadings of class action claims for negligence and breach of fiduciary duty brought against indenture trustee by holders of $160 million in municipal bonds. Claims arose from alleged failure to properly invest trust assets following the 2008 financial crisis.
  • Energy Litigation : Clay has litigated multiple disputes involving renewable energy projects, including :
    • Representing developer and seller of solar energy project in contract dispute with purchaser regarding alleged delays in project completion.
    • Defended arbitration claims against equity investors in renewable energy project based on dispute over the calculation of internal rate of return thresholds. Obtained final award for clients after multiple rounds of briefing and discovery.
    • Defended power transmission company in declaratory judgment action brought by two wholesale power marketers. Obtained dismissal of all claims pursuant to doctrine of primary jurisdiction.
  • False Advertising/Labeling : Clay has defended multiple clients in false advertising and labeling cases. His successes include :
    • Defended nation’s leading health care company against state Attorney General suit based on alleged false marketing of leading anti-psychotic medication.

Education :

  • Fordham University School of Law, J.D., 1995, Order of the Coif; Associate Editor, Fordham Law Review
  • Columbia University, B.A., 1990

Bar Admissions : New York

Court Admissions :

  • U.S. Court of Appeals, Second Circuit, Third Circuit, Seventh Circuit
  • U.S. District Court, Eastern District of New York
  • U.S. District Court, Southern District of New York

Cost

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6th Avenue 1177
New York 10036 NY US
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  • Financial Litigation  : Clay has handled a broad array of financial litigation cases for high profile clients, including the following representative matters:
    • Defending the General Motors General Unsecured Claims Trust against class action and individual plaintiffs alleging harms caused by automobile ignition switch defects that GM failed to disclose prior to its 2009 bankruptcy. Includes related claims by the Trust against General Motors LLC (the purchaser of old GM’s assets) seeking over $1 billion in additional contributions to GM’s bankruptcy estate.
    • Representing banking and investment management firm in an arbitration arising from fraudulent guarantee documents submitted by commercial borrower. Includes negotiation of settlement with purported guarantor and prosecution of contract and tort claims against borrower’s former CEO.
    • Defended Fair Debt Collection Practices Act class action claims against leading credit card issuer arising from alleged misleading statements concerning credit card issuers’ obligation to file 1099 forms with the Internal Revenue Service.
    • Obtained dismissal on the pleadings of class action claims for negligence and breach of fiduciary duty brought against indenture trustee by holders of $160 million in municipal bonds. Claims arose from alleged failure to properly invest trust assets following the 2008 financial crisis.
  • Energy Litigation : Clay has litigated multiple disputes involving renewable energy projects, including :
    • Representing developer and seller of solar energy project in contract dispute with purchaser regarding alleged delays in project completion.
    • Defended arbitration claims against equity investors in renewable energy project based on dispute over the calculation of internal rate of return thresholds. Obtained final award for clients after multiple rounds of briefing and discovery.
    • Defended power transmission company in declaratory judgment action brought by two wholesale power marketers. Obtained dismissal of all claims pursuant to doctrine of primary jurisdiction.
  • False Advertising/Labeling : Clay has defended multiple clients in false advertising and labeling cases. His successes include :
    • Defended nation’s leading health care company against state Attorney General suit based on alleged false marketing of leading anti-psychotic medication.
Education :
  • Fordham University School of Law, J.D., 1995, Order of the Coif; Associate Editor, Fordham Law Review
  • Columbia University, B.A., 1990
Bar Admissions : New York Court Admissions :
  • U.S. Court of Appeals, Second Circuit, Third Circuit, Seventh Circuit
  • U.S. District Court, Eastern District of New York
  • U.S. District Court, Southern District of New York
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