Client Successes

Foley Hoag Clears Way for Senior Financial Services Executive

In one of the few decisions in the country on the enforceability of “garden leave” notice provisions, lawyers in Foley Hoag’s Litigation Department recently secured a favorable outcome for a senior-level financial executive whose former employer sought to block his departure from the company. In a recent ruling by Judge Nathaniel M. Gorton, U.S. District Judge for the District of Massachusetts, the employer’s motion for a preliminary injunction was denied. Partners Michael Boudett and Michael Rosen represented the client, the former head of the Boston office of Bear Stearns. Bear Stearns alleged that the executive violated his employment contract by failing to give 90-days’ notice before departure and by seeking to persuade clients and staff to follow his move to a competitor. In the ruling, Judge Gorton noted that plaintiff’s allegations of misappropriation of confidential information and interference with contractual and business relationships was unsubstantiated. Further, the Foley Hoag team was successful in proving that Bear Stearns would not be subject to irreparable harm with the departure of this executive. Widely covered by national financial media, the case is now pending before an arbitration panel before the Financial Industry Regulatory Association (FINRA).

Massachusetts Hydrogen Coalition

We serve as general counsel to the Massachusetts Hydrogen Coalition, helping this dynamic organization on such matters as incorporation, entity selection and tax strategy.

Driving the Successful Sale of Technology

We recently facilitated the sale of a public software company for more than $900 million of its acquirer’s stock, and the sale of a leading developer of CAD/CAM software to a French company for stock worth approximately $320 million.

Growth by Acquisition

Our lawyers recently assisted a client with its acquisition of a 49% interest in a South American paper and forestry business for more than $120 million.

Leading Counsel to Issuers in Public Offerings

Our lawyers are leaders in representing issuers in public offerings, including a recent notable transaction involving a $100 million-plus initial public offering for a healthcare software company following its leveraged recapitalization.
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