Richard C. Schoenstein

Partner, Co-Head of Securities and Financial Services Litigation Group

P 212.216.1120   F 212.216.8001
1350 Broadway
New York, NY 10018

 

Richard C. Schoenstein

Partner, Co-Head of Securities and Financial Services Litigation Group

P 212.216.1120   F 212.216.8001   rschoenstein@tarterkrinsky.com

An advocate and litigator, Rich Schoenstein has 25 years of experience handling business and employment disputes, through trials and appeals, arbitration and mediation, and internal and external investigations. Rich has represented clients from individuals to large corporations and financial institutions, partnering with his clients to address their emerging business needs, and handling contested matters arising in numerous industries and substantive areas of law. Among his many areas of experience, he handles:

  • Commercial and employment contracts
  • Fraud, breach of fiduciary duty and other business torts
  • Restrictive covenants and employee mobility
  • Employment discrimination claims defense
  • Securities fraud and other financial services matters
  • Real estate and construction disputes
  • Professional liability matters, representing brokers, accountants and attorneys
  • Insurance and reinsurance
  • Law firm partnership and partner mobility

Rich is well known and highly regarded in the legal community. His accolades include a listing by Super Lawyers, a rating of AV® Preeminet™ by Martindale Hubbell®, and a ranking as Superb by AVVO. In addition to litigating matters, Rich is often called upon to serve as a mediator, as a member of the Commercial Division’s panel of neutrals in New York County, or privately retained.

Rich began his legal career and served as Litigation Counsel at Cahill Gordon & Reindel LLP, and he has been a partner at Paul Hastings LLP and Satterlee Stephens LLP.

Representative Matters:

  • American Conference Institute v. Momentum Event Group, LLC et al., No. 651328/2013 (N.Y. Co.) – represented employer in action against former senior employees and their new competitive business; obtained decision following 8-day bench trial finding misappropriation of trade secrets and breach of fiduciary duty, and awarding monetary damages and injunctive relief;
  • Mountain Creek Acquisition LLC v. Intrawest U.S. Holdings, Inc., No. 651316/2011 (Sup. Ct. N.Y. Co.) – defended seller of destination resort in dispute arising from purchase and sale agreement; obtained favorable decision from the Appellate Division dismissing fraud and punitive damage claims (96 A.D.3d 633 (lst Dep’t 2012));
  • North American Automotive Services, Inc. v. Long Island Automotive Group, Inc., No. 14 CV 04258 (E.D.N.Y.) - represented sellers of automobile dealerships, successfully defeating motion for preliminary injunction to block transaction;
  • MxEnergy Inc. v. Rochester Gas & Electric Corp., 06 CV 6025 (W.D.N.Y.) – represented and obtained preliminary injunctions on behalf of energy company in dispute against local utility concerning marketing of energy supply (2006 WL 625845 (W.D.N.Y. Mar. 10, 2006));
  • Apple Mortgage Corp. v. Barenblatt, et al., No. 13 CV 09233 (S.D.N.Y.) – defended mortgage brokers who moved firms and obtained summary judgment dismissing entirety of former employer’s $15 million lawsuit for breach of fiduciary duty, violations of the Computer Fraud and Abuse Act, and other alleged causes of action;
  • Thomson Reuters (Tax & Accounting) Inv. v. HomeActions LLC et al., No. 15 CV 03654 (S.D.N.Y.) (represented employer against former employee and parties to a license agreement in claims seeking enforcement of noncompetition and confidentiality provisions);
  • Defense of employers in disputes involving allegations of discrimination and/or harassment in the workplace, including proceedings before the EEOC or the New York State Department of Labor, and disputes in the courts. E.g., Dessources v. American Conference Institute, No. 12 CV 8105 (S.D.N.Y.) (obtained dismissal of associational discrimination claims on 12(b)(6) motion);
  • Defense of officers and directors in securities fraud litigation, including CNH Diversified Opportunities Master Account, L.P. v. Wehner, No. 13 CV 6708 (S.D.N.Y.) (prevailed on motion to dismiss the complaint against former CFO); In re China Natural Gas, Inc., No. 13-10419(SHL) (D. Del.); Kousa v. Wang, C.A. No. 7559(VCL) (Del. Ch.);
  • Representation of clients in multi-district litigation and mass actions, including In re Mutual Funds Investment Litigation, No. MDL 15861 (D. Md.) (market timing and late trading allegations); In re WorldCom, Inc. Securities Litigation, No. 02 CV 3288¬ (S.D.N.Y.) (accounting fraud allegations); and In re Prudential Securities Ltd. Partnership Sec. Litig., No. MDL 1005 (S.D.N.Y.) (limited partnerships);
  • Representation of financial services clients in internal investigations involving matters such as stock options grants, market timing and late trading of mutual funds, and share class sales practices;
  • Representation of prominent broker/dealer in matters relating to collapse of the auction rate security market
Community Involvement
  • President of the Hofstra University School of Law Alumni Association Board of Directors
Education
  • Hofstra University School of Law, J.D., 1990
  • Managing Editor of the Hofstra Law Review
  • The Ohio State University, B.A., 1987
Admissions
  • New York
  • United States Supreme Court
  • United States Court of Appeals, Second Circuit
  • United States District Court, Eastern Districts of New York
  • United States District Court, Southern Districts of New York
Awards and Honors
  • Super Lawyers 2014-2017
  • AV® Preeminet™ by Martindale Hubbell®
  • Superb rating by AVVO
Community Involvement
  • President of the Hofstra University School of Law Alumni Association Board of Directors
Memberships
  • New York County Lawyer’s Association
  • Federal Bar Association
  • Federal Bar Council
Articles
  • “Report on Proposed Amendments to the Federal Rules of Civil Procedure,” Co-Authored with other members of the New York County Lawyer’s Association (February 19, 2014)
  • “Defection at the Top: Lateral Partner Moves at the Executive or Director Level,” New York Law Journal (October 15, 2013)
  • “Restrictive Covenants in Employment Contracts Reviewed,” Society for Human Resource Management (September 15, 2010)
  • “Non-Authority for Non-Recruitment Covenants Under New York Law,” New York Law Journal (October 6, 2010)
  • “Director Independence and the Demand Requirement,” New York Law Journal (December 19, 2005)
  • “Is Rule 10(b)(5)’s Private Right of Action a ‘Super-Precedent’?,” New York Law Journal (December 5, 2005)
  • “Investigations of Mutual Fund Industry Still Gathering Steam,” New York Law Journal (March 8, 2004)
Speaking Engagements
  • Presenter, “Proving Damages for Breach of Covenants Not to Compete or Solicit, Confidentiality and Fiduciary Duty.” Strafford Webinars (September 21, 2016)
  • Presenter, "Non-Compete Agreement Litigation Strategies," Strafford Webinars (April 15, 2015)
  • Moderator, "Employee Mobility CLE," Hofstra University School of Law (October 22, 2014)
  • Presenter, "Negotiating Non-Compete Agreements," Institute for Strategic Negotiations (September 2013)

What’s on my iPod:
The Who, the Boss, the Killers, Sesame Street and five different versions of “I Fought the Law”

Quote I live by:
“Whenever you got business trouble the best thing to do is to get a lawyer. Then you got more trouble, but at least you got a lawyer.” Chico Marx (At the Circus)

News

Events

Education
  • Hofstra University School of Law, J.D., 1990
  • Managing Editor of the Hofstra Law Review
  • The Ohio State University, B.A., 1987
Admissions
  • New York
  • United States Supreme Court
  • United States Court of Appeals, Second Circuit
  • United States District Court, Eastern Districts of New York
  • United States District Court, Southern Districts of New York
Awards and Honors
  • Super Lawyers 2014-2017
  • AV® Preeminet™ by Martindale Hubbell®
  • Superb rating by AVVO
Memberships
  • New York County Lawyer’s Association
  • Federal Bar Association
  • Federal Bar Council
Articles
  • “Report on Proposed Amendments to the Federal Rules of Civil Procedure,” Co-Authored with other members of the New York County Lawyer’s Association (February 19, 2014)
  • “Defection at the Top: Lateral Partner Moves at the Executive or Director Level,” New York Law Journal (October 15, 2013)
  • “Restrictive Covenants in Employment Contracts Reviewed,” Society for Human Resource Management (September 15, 2010)
  • “Non-Authority for Non-Recruitment Covenants Under New York Law,” New York Law Journal (October 6, 2010)
  • “Director Independence and the Demand Requirement,” New York Law Journal (December 19, 2005)
  • “Is Rule 10(b)(5)’s Private Right of Action a ‘Super-Precedent’?,” New York Law Journal (December 5, 2005)
  • “Investigations of Mutual Fund Industry Still Gathering Steam,” New York Law Journal (March 8, 2004)
Speaking Engagements
  • Presenter, “Proving Damages for Breach of Covenants Not to Compete or Solicit, Confidentiality and Fiduciary Duty.” Strafford Webinars (September 21, 2016)
  • Presenter, "Non-Compete Agreement Litigation Strategies," Strafford Webinars (April 15, 2015)
  • Moderator, "Employee Mobility CLE," Hofstra University School of Law (October 22, 2014)
  • Presenter, "Negotiating Non-Compete Agreements," Institute for Strategic Negotiations (September 2013)