Overview
Seth Ard secures substantial legal victories for plaintiffs and defendants across the nation. Ard is a seasoned litigator who is often tapped to handle intricate, multi-party cases because of his ability to quickly understand large volumes of complex information and translate it all into compelling arguments to judges, juries and arbitration panels.
Ard has litigated cases across a myriad of practices areas including antitrust, securities, intellectual property, bankruptcy and employment. Likewise, Ard’s client roster has spanned from some of the leading companies in the nation to smaller businesses and individuals. In recent years, Ard has focused a significant portion of his practice in the insurance space – frequently securing major wins for plaintiffs in class actions against insurance companies who have acted fraudulently.
LANDMARK WINS
Ard has secured nearly $1 billion dollars in relief for plaintiffs in insurance class actions who allege their insurance companies fraudulently increased COI rates. For example, he previously represented a certified class of insurance policy owners, helping them achieve what the Court in the Southern District of New York described as “the best settlement pound for pound for the class that I’ve ever seen.” (Read the Court’s statement in full here and more in The Deal’s profile on the litigation here). Also, in 37 Besen Parkway, LLC v. John Hancock Life Insurance Company, Ard secured a $91.25 million settlement (before fees and expenses) for insurance policy owners against John Hancock Life Insurance Company. The Honorable Paul Gardephe described the settlement as a “quite extraordinary . . . result achieved on behalf of the class.” Ard most recently secured a $307.5 million deal for a putative class of plaintiffs who challenged AXA’s 2016 hike of cost on insurance rates on hundreds of elderly insureds.
Serving as court-appointed lead counsel to a certified class of plaintiffs in In Re: NFL Sunday Ticket Antitrust Litigation, Ard and a team from Susman Godfrey obtained a victory after 3 weeks of trial with a jury finding the NFL engaged in a conspiracy and violated the antitrust laws through its Sunday Ticket offering. During trial, Ard cross examined the former head of CBS Sports, Sean McManus, as well as the defense’s lead expert (Read about his cross of McManus on NBC Sports). The jury awarded $4.7 billion damages, which the trial court vacated on a post-trial motion, while leaving untouched the jury’s determination that the NFL violated two different provisions of the Sherman Act. Proceedings in the matter are ongoing.
In In re LIBOR-Based Financial Instruments Litigation, Ard has secured, to date, $781 million in settlements for plaintiffs who allege several major investment banks were involved in setting LIBOR and manipulating it to their advantage. Since that time, a multitude of lawsuits have been consolidated as part of a multidistrict litigation proceeding in which Ard is playing a leading role.
On the defense side, in Jefferies v. NASDAQ, Ard successfully defended NASDAQ and its affiliate IDCG in an arbitration where the plaintiff sought tens of millions of dollars in damages based on a claim that it was fraudulently induced to clear interest rate swaps through the IDCG clearinghouse. After a one-week arbitration, at which Ard put on NASDAQ’s expert and crossed Jefferies’ expert, the Panel issued a decision denying all of Jefferies’ claims and awarding no damages.
Ard also obtained a complete defense victory on summary judgment in trademark infringement dispute, GMA v. Dorfman. Prior to hiring Ard, Dorfman had suffered significant discovery sanctions that threatened to undermine his defense. Once hired, Ard and his team overturned those sanctions, reopened discovery and obtained key admissions, and later won the case on summary judgment.
BACKGROUND
Before joining the firm, Ard clerked for the Honorable Shira A. Scheindlin of the United States District Court for the Southern District of New York, and for the Honorable Rosemary S. Pooler of the United States Court of Appeals for the Second Circuit.
Since 2019, Ard has been named one of the country’s Leading Plaintiff Financial Lawyers by Lawdragon. He has also repeatedly been recognized as a “Rising Star” in New York by Super Lawyers magazine.
Notable Representations
- In re AXA Equitable Life Insurance Company COI Litigation (S.D.N.Y) Secured a $307.5 million deal for a putative class of plaintiffs who challenged AXA’s 2016 hike of cost on insurance rates on hundreds of elderly insureds, claiming AXA unfairly increased the cost of insurance for certain flexible-premium universal life insurance policies.
- Leonard et al. v. John Hancock Life Insurance Co. of New York et al. (S.D.N.Y.) Secured a settlement valued at $143 million, before fees and expenses, including a cash fund of over $93 million and an agreement with John Hancock Life Insurance Company not to impose a higher cost of insurance rate scale for 5 years (even in the face of a worldwide pandemic), on behalf of a class of approximately 1,200 policyholders who alleged that Hancock breached the terms of their respective life insurance policies and overcharged them for life insurance. When granting final approval, the Court held that the settlement provided an “absolutely extraordinary” recovery rate for the class, and lauded Susman Godfrey’s “extraordinary work.”
- Helen Hanks v. Voya Retirement Insurance and Annuity Company (S.D.N.Y.) Negotiated settlement worth $118 million, before fees and expenses, including a cash fund of over $92 million and an agreement by Voya not to impose a higher rate scale for 5 years, on behalf of a certified class of 46,000+ policyholders over allegations that Voya improperly raised cost-of-insurance charges. Over the course of litigation, the team from Susman Godfrey secured certification of the nationwide class and defeated summary judgment. The Court recognized the quality of the work, stating: “I want to commend you all for the work done on the pretrial order and motions in limine . . . I’m very happy to have you as lawyers appearing before me.”
- 37 Bensen Parkway v. John Hancock Life Insurance Company (S.D.N.Y) Secured a $91.25 million settlement all-cash, non-reversionary settlement (before fees and expenses) for insurance policy owners against John Hancock Life Insurance Company. The Honorable Paul Gardephe described the settlement as a “quite extraordinary . . . result achieved on behalf of the class.”
- PHT Holdings II LLC v. North American Company for Life and Health Insurance (S.D. Iowa). Secured a settlement of $59 million for plaintiffs in an insurance breach of contract class action against North American Insurance Company.
- Fleisher et al. v. Phoenix Life Insurance Company (S.D.N.Y.) Served as lead counsel to plaintiffs in a case that challenged Phoenix Life Insurance Company’s and PHL Variable Insurance Company’s decision to raise the cost of insurance (“COI”) nationwide on life insurance policy owners. After winning class certification and defeating two motions for class decertification and a motion for summary judgment, the case settled the day of the final pretrial conference: a $48.5 million cash fund ($34 million after fees and expenses), a COI freeze through 2020, and a covenant by Phoenix not to challenge the policies, worth $9 billion in face value, when the policies mature on the grounds of lack of insurable interest or misrepresentations in the application. At the final approval hearing, the Court concluded: “I want to say publicly that I think this is an excellent settlement. I think this is a superb—this may be the best settlement pound for pound for the class that I’ve ever seen.”
- Advance Trust & Life Escrow Services, LTA v. ReliaStar Life Insurance Co. (D. Minn.) Represented a class of universal life insurance policyholders against ReliaStar Life Insurance Company stemming from ReliaStar’s failure to charge cost of insurance rates in accordance with the terms of its policies. Ard and his team secured a $39 million non-reversionary settlement fund, plus additional non-monetary benefits for the class.
- PHT Holding I LLC v. Security Life of Denver Insurance Company (D. Colo.) Represented a class of life insurance policyholders in a breach-of-contract suit against Security Life of Denver challenging increases to cost-of-insurance charges. Ard’s team secured class certification of a 31-state class on a state law breach-of-contract claim. On the eve of trial, the parties settled for $30 million (before fees and expenses), a settlement the Court subsequently approved.
- Brighton Trustees, LLC et al., v. Genworth Life and Annuity Insurance Company (E.D. Va.) Secured class certification, a settlement valued at $25 million, before fees and expenses, and a promise by Genworth not to adopt an increase rate scale for 7 years, even in the face of a worldwide pandemic or any new one to come.
- Lincoln Life v. LPC Holdings (Supreme Court Onandaga, New York) Represented an insurance trust in STOLI litigation against an insurance company seeking to rescind a life insurance policy with a face value of $20 million. After Ard argued and won a hotly contested motion to compel in which the Court threatened to revoke the pro hoc license of opposing counsel, Lincoln settled the case on very favorable terms.
- Globus Medical v. Bonutti Skeletal (E.D. Pa.) Represents Globus Medical in patent litigation against Bonutti Skeletal. Ard successfully argued a partial motion to dismiss the patent complaint, defeating claims of indirect infringement, vicarious liability and punitive damages.
- Sentius v. Microsoft (N.D. Cal.) Represented Sentius against Microsoft in a patent infringement suit involving automated database technology. Pachman handled the Daubert motions in this matter. The case settled on highly favorable terms within 24 hours of the court issuing orders on those motions.
- Dorfman Pacific (S.D.N.Y.) Obtained a complete defense victory on summary judgment in a trademark infringement dispute before Judge Forrest. Ard was hired after the close of discovery and after our client had suffered significant discovery sanctions that threatened to undermine its defense. His team was able to overturn those sanctions, reopen discovery and obtain key admissions during a deposition of Plaintiff’s CEO, and win on summary judgment (without argument and based on briefing done by Ard).
- In re Municipal Derivatives Litigation (S.D.N.Y.) Served as co-lead counsel to a class of municipalities suing 10 large banks and broker for rigging municipal auctions. A total of over $220 million dollars in settlements were achieved on behalf of the class (net fees and expenses not yet determined).
- Jefferies v. NASDAQ Arbitration (New York) Defended NASDAQ and its affiliate IDCG in an arbitration where the plaintiff sought tens of millions of dollars in damages based on a claim that it was fraudulently induced to clear interest rate swaps through the IDCG clearinghouse. After a one-week arbitration, at which Ard put on NASDAQ’s expert and crossed Jefferies’ expert, the Panel issued a decision denying all of Jefferies’ claims and awarding no damages. The arbitrators were former Judge Layn Phillips, Judge Vaughn R. Walker, and Judge Abraham D. Sofaer.
- In re: National Football League’s Sunday Ticket Antitrust Litigation (C.D. Cal.) Serving as trial counsel to a certified class of plaintiffs, obtained a victory after 3 weeks of trial with a jury finding the NFL engaged in a conspiracy and violated the antitrust laws through its Sunday Ticket offering. The jury awarded $4.7 billion damages, which the trial court vacated on a post-trial motion, while leaving untouched the jury’s determination that the NFL violated two different provisions of the Sherman Act. Proceedings in the matter are ongoing. During trial, Ard cross examined the former head of CBS Sports, Sean McManus, as well as the defense’s lead expert. Read about his cross of McManus on NBC Sports.
- City of Baltimore Opioid Litigation. Representing the Mayor and City Council of Baltimore in fraud and public tort litigation against the manufacturers and distributors of opioids, whose conduct has devastated cities, counties, and states nationwide. So far Ard’s team has secured a historic $322.5 million in settlement collectively from with Allergan Finance, LLC, Walgreens, Cardinal Health, and CVS to resolve the City’s claims. Read more.
- Washington Mutual Bankruptcy (Bkrtcy. Del.) Retained to represent the Equity Committee in the Washington Mutual bankruptcy. In two multi-week plan-confirmation hearings, Ard opposed plans that would have wiped out shareholders. Although both plans were supported by the debtor and by all major creditors, the Court rejected both plans after the trials (both in which Ard examined and cross-examined key witnesses). Ard and his team then negotiated terms of a new plan that distributed over $100 million in value to shareholders, including 90% ownership of the reorganized debtor.
- Audet v. Garza (D. Ct) Serving as lead counsel for a certified class of thousands of investors in GAW Mining LLC who allege that the cryptocurrency mining venture in which they invested was in fact a Ponzi scheme.
Honors & Distinctions
Honors and Awards
- Lawdragon 500 Leading Litigator (2022, 2023. 2024)
- Lawdragon 500 Leading Plaintiff Financial Lawyers (2019, 2020, 2021 2022, 2023, 2024)
- New York Super Lawyer (2022, 2023, 2024, Thomson Reuters)
- New York Rising Star (2013-2018, Thomson Reuters)
- Teaching and Research Assistant for Professor Arthur Miller (Harvard Law School)
- Teaching Assistant for Professor Jon Hanson (Harvard Law School)
- Editorial Board, Harvard Civil Rights/Civil Liberties Law Review
Clerkships
- Honorable Shira A. Scheindlin, United States District Court for the Southern District of New York, 2008-2009
- Honorable Rosemary S. Pooler, United States Court of Appeals for the Second Circuit, 2007-2008
Education
Education
- Harvard Law School (J.D., magna cum laude, 2007)
- Northwestern University (M.A., A.B.D., Philosophy, 2003)
- Michigan State University (B.A., Philosophy & French Literature, first in class, Highest Honors, 1997)
Admissions
Admissions
Bar Admissions
- New York
Court Admissions
- U.S. District Court for the Southern District of New York
- U.S. District Court for the Eastern District of New York
- U.S. District Court for the District of Colorado
- U.S. Court of Appeals for the Second Circuit
- U.S. Court of Appeals for the Ninth Circuit
- U.S. Court of Appeals for the Eleventh Circuit
- United States National Court, Judicial Panel on Multidistrict Litigation
Languages
Languages
- French
