Andrew R. Dunlap is a founding partner of Selendy Gay.
Andrew has successfully represented clients in securities, contract, healthcare, antitrust, mass tort, RICO, ERISA, and constitutional matters, among others. Andrew was a member of the team that represented the Federal Housing Finance Agency, as conservator for Fannie Mae and Freddie Mac, in recovering $25 billion from the world’s leading banks over the sale of residential mortgage-backed securities (RMBS), including the trial team that obtained an $800 million judgment from Nomura and RBS.
He is an experienced trial and appellate litigator who has been named a leading securities litigator by The Legal 500 and is ranked among the nation’s “Leading Plaintiff Financial Lawyers” by Lawdragon.
Representative Matters
- SaveOnSP: Represents SaveOnSP, which offers cost-saving strategies for self-funded employers, in defending against a suit brought by Johnson & Johnson for tortious interference and violations of New York’s General Business law, concerning copay assistance strategies.
- Ocean Trails CLO VII, et. al: Represents an ad hoc group of lenders to Mitel Networks in bringing contract and related claims against Mitel and other lenders in challenging an “uptiering” transaction that subordinated plaintiffs’ first lien-debt to new debt issues to defendant lenders.
- Leibowitz et al.: Represents a putative class of cryptocurrency investors in an antitrust and Commodities Exchange Act suit that alleges that Tether and Bifinex falsely represented that USDT, a purported “stablecoin,” was fully backed by U.S. dollars as part of a market-manipulation scheme that inflated the price of bitcoin and other cryptocurrencies.
- Drivetrain: Represents Drivetrain as trustee for the Commonwealth Avoidance Actions Trust in seeking, among other things, recovery of hundreds of millions of dollars of underwriting fees and swap termination fees from 13 major Wall Street banks for their role in Puerto Rico’s debt crisis.
- U.S. Bank: Represents U.S. Bank as Trustee of a residential mortgage-backed securities trust in a breach-of-warranty and failure-to-notify suit against Credit Suisse and Ameriquest regarding breaches of warranties for loans in the trust.
- Kingate Global Fund and Kingate Euro Fund: Represented the Joint Liquidators of two BVI-based Kingate Funds in defending against claims brought by Deutsche Bank Securities Inc. relating to DBSI’s alleged purchase from the Funds of more than $1.6 billion of claims against the Bernard Madoff estate. The parties reached a mediated settlement.
- Audax Credit Opportunities Offshore Ltd., et al.: Represented an ad hoc group of term lenders to TriMark in New York Supreme Court in challenging an “uptiering” transaction that subordinated plaintiffs’ first-lien debt to new debt issued to defendant lenders. Obtained a settlement that allowed plaintiffs to exchange their debt for new “super senior” debt and paid all lenders’ attorneys’ fees.
- U.S. Bank: In a one-month trial in the Southern District of New York, represented U.S. Bank as trustee in a breach-of-warranty suit regarding three residential mortgage-backed securities trusts. Following trial, the trustee’s suit was settled for $850 million, the largest recovery in such a trustee action.
- U.S. Bank: In New York Supreme Court, Commercial Division, represented U.S. Bank as trustee in obtaining a $540 million settlement in a breach-of-warranty suit over a defective residential mortgage-backed securities trust.
- CIGNA Healthcare: Represented CIGNA in defense against a $100 million ERISA, RICO suit, and breach-of-contract suit. Won a summary judgment dismissing all claims brought by the North Cypress Medical Center alleging the underpayment of network reimbursements.
- CIGNA Healthcare: Represented CIGNA in defense against an over $1 billion ERISA, antitrust, and RICO suit. Won rulings dismissing provider plaintiffs and refusing class certification for subscribers alleging misuse of database for reimbursement of out-of-network claims.
- CRC Credit Fund Ltd.: Represented CRC Credit Fund Ltd. against Deutsche Bank AG Frankfurt in a federal interpleader action asserted by Bank of New York Mellon in the District Court for the Southern District of New York.
- Computershare: Represented Computershare as Separate Securities Administrator in a $500 million breach-of-warranty action regarding a residential mortgage-backed securities trust. Among other things, obtained a decision from New York’s Appellate Division, First Department, in an issue of first impression that a non-trustee could assert claims on behalf of a trust against the trust sponsor.
- Board of Directors for an educational non-profit: Represented client in an internal investigation in response to security concerns and allegations of racial discrimination.
- Board of Directors for an environmental non-profit: Represented the client in an internal investigation in response to allegations of misuse of funds, mismanagement, and racial discrimination.
Affiliations & Community Involvement
Andrew earned his J.D., magna cum laude, from Georgetown Law School, where he published a note in the Georgetown Law Journal and was an editor of the American Criminal Law Review.
