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Scott L. Walker is Counsel in the Lowenstein Sandler Litigation Department and is a member of the firm’s Capital Markets Litigation and Antitrust Practice Groups.
Mr. Walker is currently the Chair of the Structured Finance Litigation subcommittee of the Securitization and Structured Finance committee of the American Bar Association’s Business Law Section. He has litigated a broad array of complex commercial cases, with particular emphasis on matters involving structured financial products (including collateralized debt obligations (CDOs) and credit default swaps (CDSs), and residential mortgaged backed securities (RMBS)), antitrust disputes, securities fraud, and commercial breach of contract. In the course of his work on these matters, Mr. Walker has been involved in trial preparation, client counseling, deposition practice, and drafting and filing briefs relating to various motions at the trial and appellate levels.
Before joining Lowenstein Sandler, Mr. Walker served as an associate at the New York offices of both Davis & Gilbert LLP and Cahill Gordon & Reindel LLP. While at Cahill, Mr. Walker was involved in the United States Supreme Court case that challenged the constitutionality of the McCain-Feingold campaign finance statute.
Prior to joining Cahill, Mr. Walker served for two years as a law clerk to the Honorable John E. Sprizzo in the United States District Court for the Southern District of New York.
Some of Mr. Walker’s representative matters include:
- Representation of Marathon Structured Finance, an investment management company with more than $9 billion of assets under management, in connection with its claims as a CDO noteholder in an ongoing litigation alleging improper use of derivative transactions
- Investigation of claims related to multiple subprime CDO transactions involving claims with a total face value exceeding $1 billion
- Prosecution of proceedings under 28 U.S.C. §1782 in aid of foreign litigation proceedings involving claims seeking $2.5 billion in damages related to the collapse of an asset-backed commercial paper conduit secured principally by CDOs of ABS
- In re Employee Benefit Insurance Brokerage Antitrust Litigation: Mr. Walker is part of a team representing Prudential Financial, Inc., and Prudential Life Insurance Company of America as defendants in this federal multidistrict civil RICO and antitrust class action involving claims of bid-rigging, market allocation, and ERISA violations.
- Representation of a large publicly-traded company in connection with an SEC investigation and securities fraud litigation that related to allegations of improper accounting
- Representation of a large manufacturing company in connection with a federal antitrust litigation alleging that the company participated in an international bid rigging and market allocation conspiracy
- Robertson v. Princeton University: Mr. Walker was part of a team that represented the defendants in this nationally prominent derivative litigation that raised a number of issues of first impression involving donor intent, academic freedom, and the fiduciary duties of directors of a "supporting" charitable corporation who are appointed by the "supported" charitable corporation. Alleging, among other things, fraud and breach of fiduciary duty, plaintiffs sought to sever the ties between Princeton University and the Robertson Foundation (a supporting organization, with assets of almost $1 billion, dedicated to funding the graduate program of the Woodrow Wilson School of Public and International Affairs) and to surcharge the University an additional several hundred million dollars. On December 13, 2008, the case settled on terms extremely favorable to the University.
- Representation of an international pharmaceutical company in a federal lawsuit alleging that the company attempted to monopolize the market for a particular drug compound by, among other things, engaging in activities designed to prevent generic versions of that compound from reaching the market. During that representation, Mr. Walker helped the company achieve summary judgment on the question of the relevant product market, which the Court found the plaintiffs had improperly limited to the market for the specific drug compound in dispute.
- Representation of a large manufacturing company in connection with a federal antitrust litigation alleging that the company participated in an international bid rigging and market allocation conspiracy
- Representation of several immigrant families and a New Jersey law school in connection with litigations pending in federal court in Newark related to a pattern of unconstitutional home raids being conducted by federal immigration agents
Speaking Engagements
- Moderator, "Mortgage Litigation," ASF 2012, Las Vegas, Nevada, January 24, 2012
- Moderator & Co-chair: "Who's Happy Now? ABS Disputes: Trustees Under Siege, Investors Enraged, and the Litigation/Settlements That Will Determine Who Will 'Win'", ABA Annual Meeting, Toronto, Canada, August 6, 2011
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RMBS Litigation: The 2011 Year in Review
Capital Markets Litigation Client Alert, January 25, 2012
Scott Walker,
Elliott Stein,
David Moses,
Richard Bodnar
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RMBS Putback Litigation 2012: Actions By or Against the Trustees?
Total Securitization, October 17, 2011
Jonathan Wishnia,
Scott Walker
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Capital Markets Litigation Client Alert: Court Order Permits Discovery Regarding BofA $8.5 Billion RMBS Settlement
Capital Markets Litigation Client Alert, August 2011
Zachary Rosenbaum,
Donald Corbett,
Jonathan Wishnia,
Scott Walker
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Scott Walker comments on the implications of Judge Denise Cote's decision to deny UBS America's motion to dismiss the suit brought against them by the Federal Housing Finance Agency for misleading Fannie Mae and Freddie Mac into purchasing $6.4 billion of toxic mortgage backed securities.,
Inside MBS & ABS, May 11, 2012
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Scott Walker comments on how the outcome of UBS America's motion to dismiss the mortgage securities lawsuit brought against it by the Federal Housing Finance Agency may effect other FHFA lawsuits against financial institutions.,
Inside MBS & ABS, February 17, 2012
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In an International Financing Review article, Scott Walker comments on the acceleration of MBS litigation due to short statutes of limitations.,
International Financing Review, February 4, 2012
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Rutgers University School of Law - Newark
(J.D., 2000),
Managing Editor, Rutgers Law Review, Cum Laude, Order of the Coif
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Columbia University
(B.A., 1996),
Political Science and History, Dean’s List Scholar
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U.S. District Court, Southern District of New York, Honorable John E. Sprizzo 2000 - 2002
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New Jersey
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New York
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2010,
U.S. Court of Appeals, Third Circuit
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2010,
U.S. Court of Appeals, Seventh Circuit
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2007,
U.S. District Court, District of New Jersey
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2005,
U.S. District Court, Eastern District of New York
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2003,
U.S. District Court, Southern District of New York
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