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Mr. Palais is a shareholder in the Firm’s Financial Services Group. He focuses his practice on litigation, arbitration and counseling on behalf of brokers and agents in the securities and insurance industries. In addition to appearing as lead counsel in broker/dealer cases and arbitrations throughout the southeastern United States, he has also defended hundreds of insurance agent/broker errors & omissions cases. He appears before federal and state securities and insurance regulators in connection with a wide variety of regulatory issues including broker compensation matters and regulatory enforcement actions. In addition to his defense of insurance agent/broker errors & omissions claims, Mr. Palais also handles the defense of other professional liability matters, particularly directors and officers liability claims, attorney malpractice claims and complex insurance coverage matters. He handles multi-district litigation matters and has extensive federal and state court jury trial and appellate experience. Mr. Palais regularly writes and speaks on issues relating to insurance agents and brokers. He is also a frequent speaker on professional liability, regulatory and trial practice matters. Legal Experience LeClairRyan, Richmond, Virginia, 2002-present McCandlish Holton, Richmond, Virginia, 1996-2001 McSweeney & Crump, Richmond, Virginia, 1986-1996 Assistant Attorney General of Virginia, Antitrust Division, Richmond, Virginia 1983-1985 Hunton & Williams, Richmond, Virginia, 1980-1983 Law Clerk, United States Court of Appeals for the 4th Circuit, 1978-1980 Education Northwestern University School of Law, J.D., 1978 Lafayette College, A.B., English, 1975, magna cum laude Extended Information Representative Matters Member of the successful trial team in Gross v. Weingarten, et al., a $300 million securities fraud case, resulting in a complete defense jury verdict, (reported in the National Law Journal’s Top Defense Verdicts of 1998), and affirmed by the U.S. Court of Appeals for the 4th Circuit. Gross v. Weingarten, et al., 217 F.3d 208 (2000) Represented London-Market amici in a landmark insurance coverage case. The Maryland Casualty Company v. Armco, Inc., 822 F.2d 1348 (1987) Represented an insurance agency in a case of first impression, holding that a consent judgment may be set aside based on the constructive fraud of counsel. Spence-Parker v. The Maryland Insurance Group, 937 F. Supp. 551 (1996) Represented, as appellate counsel, a putative class in a securities fraud case. Phillips v. LCI Int’l, Inc., 190 F.3d 609 (1999) Represented an insurance agency, resulting in a dismissal of the plaintiff's case, with prejudice, based on discovery abuse. EER Systems Corp. v. Armfield, Harrison & Thomas, Inc., and Tri-City Insurance Brokers, Inc., 51 Va. Cir. 84 (1999) Represented, as appellate counsel, a financial institution in a securities/bond fraud case. David L. Caudill, et al v. County of Dinwiddie, et al, 259 Va. 785; 529 S.E.2d 313 (2000) Represented a publicly-traded company in one of the country's first Internet anonymity cases. America Online v. Anonymous Publicly Traded Company, 261 Va. 350, 542 S.E.2d 377 (2001) Represented an insurance agency in an E&O case. Transcontinental Insurance Company v. RBMW, Inc., 262 Va. 502; 551 S.E.2d 313 (2001). Represented an insurance company in a large tax refund case. GE Life and Annuity Assurance Co. v. United States, 2002 U.S. Dist. LEXIS 10245 Represented an automobile manufacturer in the appeal of an adverse administrative ruling, concerning constitutional and statutory issues. Volkswagen of America v. Smit, 244 Va. 444, 587 S.E.2d 526 (2003), reversing, Volkswagen of America v. Quillian, 39 Va. App. 35; 569 S.E.2d 744 (2002) Represented an ERISA plan, and related entities, in an ERISA benefits case. SunTrust Bank v. Aetna Life Insurance Company, 251 F. Supp. 2d 1282 (2003) Represented a former employer in an action to recover damages and attorneys fees in connection with a former employee's use of trade secrets. The Court ruled that the former employer may recover its contractual attorney's fees despite the jury's finding that it did not suffer any specific amount of damages. Ulloa v. QSP Inc., 271 Va. 72; 624 S.E.2d 43 (2006) Represented a Texas-based viatical settlement company in a Commerce Clause challenge to Virginia regulation. Life Partners, Inc. v. Morrison, 484 F.3d 284 (2007), affirming Life Partners, Inc. v. Miller, 420 F.Supp 2d 452 (2006) Represented, as appellate counsel, an insurance company seeking to overturn a punitive damages award. Nance v. Kentucky National Insurance Company, 2007 U.S. App. LEXIS 10888 (2007) Speaking Engagements Frequent speaker before industry and bar groups on insurance, regulatory and trial practice issues, including speaking appearances before: Independent Insurance Agents of Virginia, Inc. Chartered Property Casualty Underwriters Association Virginia Law Foundation First, Second, Third and Fourth Andrews International Reinsurance Conference Classes and Seminars Taught Adjunct Professor, Insurance Law, Virginia Commonwealth University School of Business, 2006-Present Honors and Awards Currently listed in The Best Lawyers in America for insurance law Currently listed as a Virginia Super Lawyer for securities litigation Instructor in Legal Writing, Northwestern University School of Law, 1977-1978 Notes and Comments Editor, Journal of Criminal Law and Criminology, Northwestern University School of Law, 1977-1978 Professional Memberships American Bar Association Virginia Bar Association Bar Association of the City of Richmond: Former Chair, CLE Committee Virginia Association of Defense Attorneys Defense Research Institute Securities Industry and Financial Markets Association, Compliance & Legal Division Professional Liability Underwriters Society Admissions Virginia State Bar District of Columbia Bar United States Court of Appeals for the Fourth Circuit United States Court of Appeals for the Sixth Circuit United States District Court for the Eastern District of Virginia United States Bankruptcy Court for the Eastern District of Virginia United States District Court for the Western District of Virginia United States Bankruptcy Court for the Western District of Virginia United States District Court for the District of Columbia United States District Court for the District of Colorado Place of Birth New York, New York. |
