Gerald Novack has over 45 years of experience trying a variety of complex matters in the state and federal courts, before the American Arbitration Association and its International Centre for Dispute Resolution, and the American Stock Exchange. In addition, he has argued before numerous state and federal appellate courts. His cases have involved, among other things: the financial services sector; the securities and commodities laws; insurance coverage disputes; the oil and gas industry; complex industrial equipment warranty disputes; the mobile phone industry; professional liability claims against law firms; investment banking; indemnification of corporate officers and directors; breach of contract, business torts and breach of fiduciary duty claims; intellectual property disputes; representation of lawyers in law firm breakup disputes; the valuation of real estate and shares in closely-held corporations; unfair competition and trade secret disputes; defamation claims; aviation; shipping; banking; publishing; antitrust; estates and trusts; mortgage foreclosures and lender liability suits; international sales contracts; federal tax refund litigation; the False Claims Act; and the Foreign Sovereign Immunities Act.
Among other matters, Gerald is lead counsel in a widely reported oil refinery dispute between the firm's client and Petrobras, Brazil's national oil company. The dispute ended with Petrobras paying the firm's client a lump sum of $820,500,000 to satisfy judgments and claims in our client's favor. Subsequently, Petrobras sued to invalidate the settlement on various grounds. In an August 2020 decision, the Texas Court of Appeals rejected Petrobras’ attack on the settlement and reaffirmed that it was valid and enforceable.
On the defense side, Gerald was lead counsel in obtaining the dismissal of a $2 billion False Claims Act action brought against various banking institutions that allegedly obtained billions of dollars in low interest rate loans by making false certifications to the Federal Reserve Banks.
Gerald is listed in Best Lawyers in America, in the field of Commercial Litigation.
Gerald's professional background includes:
Partner with K&L Gates
Special Assistant Attorney General, State of New York
Law Clerk, Hon. James Gibson, New York Court of Appeals
- Best Lawyers in America, Commercial Litigation, 2012-2021
- “Limiting the Buyer’s Market Damages to Lost Profits: A Challenge to the Enforceability of Market Contracts,” Harvard Law Review, 1979 (co-author)
- Commercial Damages: A Guide to Remedies in Business Litigation, New York: Matthew Bender, 1986 (chapter contributor)
- “Gustafson v. Alloyd Co.: Limiting Section 12(2) Liability to Public Offerings,” The Review of Securities and Commodities Regulation, November 8, 1995