Benjamin R. Nagin

Ben’s representative matters include:

Antitrust Matters

• defense of a major payment card issuer in consolidated antitrust actions brought by putative class of all U.S. merchants, as well as significant opt-out actions by large merchant plaintiffs. (In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation (E.D.N.Y.)).
• defense of global financial institution against conspiracy claims regarding payment card fraud liability. (N.D. Cal.) Obtained pre-discovery dismissal of all claims.
• defense of a major investment bank in consolidated antitrust action concerning credit default swaps. (In re Credit Default Swaps Antitrust Litigation (S.D.N.Y.)) Obtained early, strategic favorable settlement.
• defense of an international chemical joint venture in class action alleging per se unlawful price fixing and supply constraints under the Sherman Act (In re: Diisocyanates Antitrust Litig. (W.D. Pa.)).
• defense of a major investment bank in antitrust action regarding IPO pricing. (In re Issuer Plaintiff Initial Public Offering Antitrust Litigation (S.D.N.Y.)).
• defense of major financial institution against claims filed in Texas state court (Harris County) under the Texas Fair Enterprise & Antitrust Act.
• represent clients in enforcement and investigatory matters before the DOJ, FTC, CFPB and state attorneys general, including with respect to no-poach, payment card, and consumer finance issues.

Commercial Disputes

• a bank in breach of representation and warranty action brought by special servicer regarding commercial mortgage loan purchase agreement. Obtained pre-discovery dismissal of all claims. (Wells Fargo Bank, N.A., as Trustee for the registered holders of J.P. Morgan Chase Commercial Mortgage Corp, Commercial Mortgage Pass-Through Certificates, Series 2002-CIBC4, acting by and through its Special Servicer, LNR Partners, LLC v. JPMorgan Chase Bank, N.A., 2014 WL 1259630 (S.D.N.Y. March 27, 2014)), affirmed, 2016 WL 1042020 (2nd Cir. March 16, 2016).
• an ad hoc noteholder group and indenture trustee in preliminary injunction proceedings and expedited trial, respectively, regarding contested redemption of debt securities. Following trial, the district court commended the parties’ lawyers for their “all-around excellence” and described the lawyers’ advocacy as “simply superb.” After an adverse decision by the district court, the Second Circuit reversed and confirmed the indenture trustee’s interpretation of the redemption provisions. (Chesapeake Energy Corp. v. The Bank of New York Mellon Company, N.A.).
• A global animal health company in the emergency enforcement of a product supply agreement.
• A global medical devices and health care company in the emergency enforcement of a major corporate spin-off.
• a European bank in the enforcement of construction completion guaranty and related agreements arising out of a resort development in the U.S. Virgin Islands. Obtained US$38 million judgment for the client.
• a title insurance company in loan and guaranty enforcement action. Prevailed on pre-discovery motion for summary judgment on all claims. (Stewart Information Services Corp. v. CorporatAir LLC et al., 951 N.Y.S.2d 83, 2012 WL 1649883 (N.Y. Supreme Court, Commercial Div. Apr. 16, 2012).
• Obtained US$32 million judgment for lessors against airline for breach of aircraft lease agreements. (Wells Fargo Bank, N.A. v. TACA International Airlines, S.A., 315 F. Supp.2d 347 (S.D.N.Y. 2003)).
• Obtained US$26 million award for client against competing international telecommunications provider in private arbitration.

Bankruptcy Court Litigation

• defense of a major payment card issuer in putative class action brought by Chapter 7 debtor regarding credit reporting and statutory bankruptcy discharge injunction.
• defense of an investment management firm in fraudulent transfer action brought by Chapter 7 trustee regarding asset-based loan.
• representation of equity and other committees in litigation matters in Chapter 11 proceedings relating to transportation, financial services and other industries.

Advisory and Regulatory Work

Ben’s advisory and regulatory matters include:

• DOJ and FTC investigations into proposed transactions and compliance with myriad regulations including in the payment space.
• CFPB and DOJ investigations into certain consumer finance issues for financial institutions.
• State Attorney General investigations into alleged antitrust violations.
• a major international airline regarding rights and strategic options in relation to multi-billion dollar commercial relationship.
• numerous financial institution clients regarding litigation risks arising from commercial relationships and business lines, including cross-border agreements.

Ben also has handled numerous high-profile pro bono matters. In July 2010, Ben was lead counsel in a death penalty evidentiary hearing in Mobile, Alabama. On November 2, 2012, following extensive post-hearing briefing, the Circuit Court for Mobile County, Alabama, vacated the capital murder conviction and death sentence of William Ziegler and granted Mr. Ziegler a new trial, finding numerous constitutional violations in connection with the original capital murder trial. (State of Alabama v. Ziegler). In May 2014, the Alabama Criminal Court of Appeals unanimously affirmed the judgment granting Mr. Ziegler a new trial. This important case was reviewed in an article in the Mobile Press Register, “How the system failed William Ziegler: Perjured testimony, trashed evidence, lying jurors” (February 1, 2013). This case was also mentioned in an article in Law360, “Pro Bono Firm of 2014: Sidley Austin” (October 23, 2014). During the final appearance in the case in 2015, the presiding Judge (now a member of the Alabama Supreme Court), stated to Ben and his team that “your legal analysis throughout this process has been infallible and your court room demeanor has been impeccable.” She also stated that “Each of you stand for the very best of our profession” and “I’m sincerely humbled by your dedication to the goal of truth and justice.”

Ben serves as the co-chair of the Hedge Fund and Capital Markets Litigation Committee of the New York State Bar Association. Ben is also a member of the NYSBA Antitrust Section and Antitrust Class Action and Private Litigation Committee. In 2019, Ben was elected as a Fellow of the New York Bar Foundation. Ben is on the Editorial Board of the Quick Look, a weekly publication of the Joint Conduct Committee, ABA Antitrust Law Section.

Ben is the co-chair of Sidley’s New York Hiring Committee.

Ben previously served on the Board of Directors of MMPCIA, an organization dedicated to revitalizing and preserving the Historic District surrounding Marcus Garvey Park in Harlem, New York.

Ben has completed numerous marathons, including in New York, Boston, New Jersey, and Pennsylvania.