Mike Scheier is a trial lawyer who also helps our clients manage their litigation risks and achieve cost-effective non-litigation solutions. His practice is concentrated on valuation and shareholder disputes, and in the defense of ERISA fiduciary duty and other ESOP-related claims, lender liability and other financial services claims, and defending corporate directors and officers in state law actions alleging breaches of fiduciary duties. Mike also focuses his practice in enforcement of creditor's rights, and has developed extensive experience in bankruptcy court and state law insolvency and collection disputes.
Representative Work
Successfully defended ESOP fiduciaries as lead trial counsel in 15-week bench trial resulting in complete defense judgment on all claims by plaintiff class seeking over $200 million for breach of fiduciary duty under ERISA Section 404 and other ESOP related ERISA violations
Obtained summary judgment for several selling shareholders in large private company against claims alleging company overpaid for their shares in a corporate redemption filed in federal court in Cincinnati
Lead trial counsel to several former board members, including Board Chair, the former CEO, COO and President, of privately held companies leading to defense judgements seeking damages of over $100 million arising out of a second stage ESOP transaction
Lead litigation counsel representing company CEO and Board Chair in summary judgment on ESOP breach of fiduciary duty claims seeking in excess of $100 million in Federal Court in Chicago
Prosecuted claims for institutional ERISA trustee Fifth Third Bank for breaches of fiduciary duties by predecessor trustee
Defended institutional ERISA fiduciaries for breaches of duty in denying participant benefits claims resulting in no liability
Successfully tried defense of lender liability claim against Great American Life Insurance Company in Delaware Federal Court
Defended lender liability claims against Fifth Third Bank brought by prominent racing horse stable in New Jersey
Multi-million dollar settlement for a financial institution in a high profile lender liability and bank fraud case pending in both state and federal courts in Ohio and Kentucky
Unanimous jury award for a plaintiff-financial institution in a state court bank fraud case against multiple defendants
Successfully defended several trusts and individual creditors against an equitable subordination claim under Bankruptcy Code section 510(c) involving claims in excess of $50 million
Lead defense counsel to Cintas Corporation, its CEO, and other officers, in a $150 million breach of fiduciary duty lawsuit by a bankruptcy trustee in a state court outside of Ohio resulting in favorable settlement days before jury trial was set to begin
Defended and prosecuted successful appeals in the Second (New York), Third (Philadelphia), Fifth (New Orleans), Sixth (Cincinnati), Seventh (Chicago), Ninth (San Francisco) and Eleventh (Atlanta) Federal Courts of Appeal, and in the Ohio Supreme Court and Ohio State Appellate courts
In a case tried to a jury in state court, obtained a $1.3 million judgment, an award of attorneys' fees for bad faith breach of contract, judgment of specific performance in regard to the transfer of real property, and a directed verdict on the defendant's $2.5 million counterclaim
Defense verdict in a multi-million dollar claim for breach of a commission contract and punitive damages tried to a jury in state court
Defense verdict in a multi-million dollar claim for breach of fiduciary duty and legal malpractice tried to a federal court jury
Jury verdict in plaintiff’s favor in a UCC Article 3 forged endorsement and conversion case involving a major regional bank
Represented creditors' committees, and secured and unsecured commercial creditors, in insolvency related disputes
Represented the Celotex and UNR asbestos trusts in litigation matters
Served as litigation counsel to creditor groups in mass tort bankruptcy cases including G-I Holdings, Babcock and Wilcox Company, Dow Corning, Armstrong World Industries, Eagle Picher Industries, and Wallace & Gale Company
