Richard H.C. Clay [Inactive]

We brought this case on behalf of a Trust against a broker and the financial services company employing the broker. Our client claimed that the broker and the company had breached multiple duties in advising the Trust to surrender millions of dollars in life insurance policies. The case took place in FINRA arbitration. After substantial document and witness discovery, including expert witnesses on the duties of broker-dealers, the duties of insurance agents, and handwriting analysis, we were able to obtain a very favorable monetary settlement for our client.

Representation in fraud claims, FINRA broker/dealer actions and negligent trustee claims

Regional representation of large privately controlled natural gas exploration company in contract, real estate and environmental actions in Kentucky, Ohio, West Virginia and Pennsylvania.

We are currently assisting a large, municipal water and sewage utility in Kentucky with respect to its plans to enter the natural gas business in order to spur economic development in the region. We are advising the client on all aspects on the statutory and regulatory issues implicated by this new venture, as well as the related issues implicated by its status as a municipal instrumentality. In addition to helping the client navigate these issues, we have also been retained to assist with negotiations regarding gas purchase agreements, transmission and distribution issues, eminent domain issues, and all aspects of the project – “from A to Z” - that will help them secure the supply of gas and deliver it to customers.

Managed statewide defense of original manufacturer’s diet drug litigation over a 10-year period, managed ongoing statewide defense of original manufacturer of Fosamax (oral biophosphonates), and managed ongoing statewide defense of original manufacturer of Reglan (metoclopramide).

State wide defense over a 12-year period of manufacturer of CJ 5 and CJ 7 Jeep vehicles against allegations of vehicle instability, with directive to dramatically reduce claims

Represented client on state-wide basis with directive to dramatically reduce claims. Tried 8 to 10 jury trials a year for 7 year period, with 90% rate of success.

We defended a national financial services firm against allegations of breach of fiduciary duty relating to a large revocable trust that became irrevocable at the grantor’s death. Our client served as the corporate trustee for the trust. The co-defendant was an individual co-trustee who had power of attorney for the disabled grantor during her lifetime and was her nephew. The suit was brought by the deceased grantor’s daughter and granddaughter, alleging breach of fiduciary duty relating to the grantor’s disability and competency to make testamentary dispositions – which were in favor of the nephew and other members of his family. We have taken or attended more than 20 depositions, filed motions to disqualify the plaintiff’s experts, and worked with our experts on the grantor’s disability and the fiduciary duties of the corporate co-trustee.

We are currently serving as lead Kentucky counsel in oral bisphosphonates (Fosamax) litigation, which has arisen from allegations that the product causes osteonecrosis.