FacultyFaculty/Author Profile
Richard T. Marooney

Richard T. Marooney

King & Spalding LLP

New York, NY, USA

Richard Marooney is a partner in King & Spalding’s Business Litigation Group.  He is an experienced trial lawyer who has tried cases before juries, judges and arbitration panels.  His practice focuses on securities, general commercial and international disputes in the financial services and energy industries.

Mr. Marooney has served as a member of the Firm’s Policy Committee (management committee), and is co-head of the Firm’s Financial Institutions practice.  Mr. Marooney was a member of the Firm’s Associate Evaluation Committee from 2007-2009 and the Hiring Partner in the New York office from 2004-2006.  He is on the Chartis Panel Counsel list for securities litigation, and has been a New York Super Lawyer since 2009.

Recent matters handled by Mr. Marooney include:

Financial Services/Securities Matters

  • Defended Big Four accounting firm in an action by a hedge fund arising out of the failure of one of the largest providers of brokerage and clearing services in the international derivatives, currency and futures market;
  • Won a three week trial for Royal Bank of Canada and RBC Capital Markets in actions involving allegations of fraud, breach of fiduciary duty and aiding and abetting liability;
  • Represented GE Capital Corporation and other lenders in a lawsuit against former CFO of insolvent retailer concerning misrepresentations and accounting issues;
  • Won a defamation action on behalf of Julian H. Robertson, Jr. against internet bloggers;
  • Defended Banc of America Securities in seven week jury trial in the Southern District of New York involving alleged securities fraud regarding asset backed securities;
  • Achieved dismissal for Ambac in a lawsuit filed by the City of New Orleans arising out of a variable rate municipal bond issuance and related interest rate swaps;
  • Won a three day trial in New York Supreme Court on behalf of board of directors’ special committee in connection with shareholder derivative action concerning alleged breaches of fiduciary duty;
  • Defended the underwriter syndicate in a securities class action in connection with an equity offering of Majesco Entertainment Company;
  • Represented hedge fund company in connection with investigation by New York Attorney General concerning equity research practices;
  • Achieved early dismissal for the underwriter syndicate in a securities class action concerning an equity offering of Inspire Pharmaceuticals;
  • Represented Ramon Prats, former President of R&G Financial Corporation, in a securities class action in the Southern District of New York arising from alleged accounting irregularities relating to the sale of mortgages;
  • Represented an investment bank in connection with SEC and NASD investigations;
  • Achieved successful settlement of dispute between hedge fund company and former fund manager concerning covenants not to compete.

International Matters

  • Achieved dismissal for one of Russia’s largest financial institutions in a lawsuit in the Southern District of New York alleging RICO and securities fraud claims;
  • Defending an international private equity company in a lawsuit arising out of the sale of a natural gas storage facility;
  • Representing a subsidiary of KBR Inc. in an action to confirm an ICC arbitral award under the Panama Convention against Mexico’s oil exploration and production company;
  • Won a three week jury trial for Middle-Eastern private equity group in an action involving allegations of fraud, breach of fiduciary duty and other claims relating to Shari’ah compliant financial structure;
  • Secured dismissal of Middle-Eastern financial services company from lawsuits arising out of the 9/11 terrorist attacks;
  • Conducted an internal investigation on behalf of European company concerning alleged accounting irregularities relating to revenue recognition, return reserves and “channel stuffing.”

Energy Matters

  • Achieved successful resolution for energy trading company in a class action in the Southern District of New York concerning alleged market manipulation under the Commodities Exchange Act;
  • Advised private equity group in connection with its investment in a power project in Guatemala;
  • Represented an energy trading firm in class action litigation and FERC proceedings arising out of California’s energy crisis;
  • Achieved favorable resolution for refinery owner in contract dispute with major utility in connection with the marketing of electricity in the PJM transmission zone;
  • Achieved favorable jury verdict in two-week jury trial on behalf of independent power producer arising from a contract dispute with a leading energy trading company;
  • Obtained favorable resolution for independent power producer in a contract dispute with local municipality arising from the sale of electricity and thermal energy;
  • Won a three-week jury trial on behalf of nuclear power plant owner/operator in a contract dispute with co-owners concerning allegations that the owner/operator mismanaged the plant.

Mr. Marooney’s publications and professional appearances include:

  • Faculty Member for PLI’s Seminar and Live Webcast:  Advanced Deposition Techniques 2013 (January 2013).
  • Trio of Second Circuit Decisions Clarify FINRA Arbitrability, BNA Securities Regulation Law Report, February 20, 2012.
  • Not So Fast:  Mid-trial Juror Disqualification in Civil Cases Requires Careful Assessment, New York Law Journal, January 18, 2011.
  • Perspective:  Stop the Class Action Merry-Go-Round, New York Law Journal, May 17, 2010.
  • Panelist at King & Spalding’s March 2008 e-Learn seminar, “Current Developments in the Subprime and Capital Markets.”
  • Panelist at November 2006 E-Seminar by Andrews Publications, “Scheme Liability Under Federal Securities Law.”
  • Corporate Liability Under the Alien Tort Claims Act: United States Court Jurisdiction over International Torts, New York State Bar Association International Law Practicum, Spring 2004.
  • Panelist at November 2003 meeting of the American College of Investment Counsel, “Drafting Deal Documents: A Litigation Perspective.
  • U.S. Liability for Overseas Business Activities:  The Expanding Role of U.S. Courts Under The Alien Tort Claims Act, co-authored with George Branch and published at the Fifty-Third Annual Institute on Oil and Gas Law, 2002.

Mr. Marooney graduated with distinction from Hofstra Law School in 1994 where he was an associate editor on the Hofstra Law Review.  He received his Bachelor of Science in finance, cum laude, in 1991 from the Carroll School of Management Honors Program at Boston College. 

Mr. Marooney is admitted to practice in Federal and New York State courts.  He is a member of the Federal Bar Council.


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