New York Supreme Court Trial Victory in Favor of Client Galaxy Entertainment Group

February 2019

On January, 28, 2019, following a two week trial in the New York Supreme Court (Commercial Part), Williams & Connolly secured a complete victory in a securities contract case on behalf of its client, Hong Kong-based Galaxy Entertainment Group Ltd., a publicly traded company in Hong Kong and one of the leading resorts, hospitality and gaming companies in the world.  The plaintiff, a New York-based hedge fund backed by CalPERS, claimed under a convertible notes instrument that it was entitled to additional shares worth $270 million USD as of the time of trial. 

Following discovery in the U.S., Hong Kong, and London to determine the intent of the contracting parties, Williams & Connolly represented Galaxy in the bench trial in the Fall of 2017.  On January 28, 2019, Justice Andrea Masley granted judgment in Galaxy’s favor, rejecting the plaintiff’s claim in a 40-page decision.       

The Williams & Connolly team included Dan Katz, Ed Barnidge, David Kurtzer-Ellenbogen, Keith Clouser, Lauren Uhlig, and Brad Masters.

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