Francis X. Riley III
Francis "Trip" Riley primarily handles complex litigation for clients in the areas of commercial and consumer financing and business to business transactions, with a focus on torts and breach of contract. Trip is a seasoned litigator with deep experience in helping corporate clients facing disputes and claims related to intellectual property. He prides himself on understanding his clients’ businesses and goals so he can partner with them to achieve positive results in the often highly-charged setting of commercial and corporate litigation. Trip is experienced and prepared to take difficult disputes to trial.
Trip is admitted to practice law before the U.S. District Courts for the Eastern District of Pennsylvania, District of New Jersey and Southern and Eastern Districts of New York, as well as the Second Circuit Court of Appeals, Third Circuit Court of Appeals and U.S. Supreme Court.
Real Estate Settlement Experience
Trip leads a team of attorneys that represent and counsel real estate settlement services industry clients, including mortgage lenders and brokers and loan servicers; real estate brokers; title insurance underwriters and agents in litigation; and enforcement regulatory and business matters.
As part of his practice, Trip counsels on and litigates issues related to RESPA, TILA, Reg. X, Reg. Z, HOEPA, Fair Foreclosure Acts, Dodd-Frank, insurance rate issues, and other statutory and common law consumer complaints, as well as governmental investigations and enforcement. He has litigated numerous other commercial disputes in which his settlement services industry clients have been a party. Trip also provides administrative and regulatory counseling on existing operational issues and proposed product and service programs to settlement services industry clients. Recent experience includes:
- Representation of the servicer of and investor in commercial mortgage loans in uncontested and contested foreclosures.
- Represented the National Association of Mortgage Brokers (NAMB) in its challenge to the Federal Reserve Board’s Final Loan Origination Compensation Rule.
- Represented a title industry client in a U.S. District Court for the District of New Jersey putative class action in which RESPA, TILA, RICO and state consumer fraud claims were asserted. Obtained dismissal of the action on an initial 12(b)(6) motion to dismiss (some claims with prejudice).
- Obtained the dismissal, on behalf of a mortgage lending client, of TILA, RESPA, and state consumer fraud claims brought in the Superior Court of New Jersey.
- Obtained summary judgment in favor of a mortgage lender client against TILA, RESPA, Fair Foreclosure Act, and consumer fraud counterclaims by the defaulted borrower.
Financial Services Experience
Trip represents financial services clients in a wide variety of actions (including class actions that arise from complex commercial transactions and relationships) in state and federal courts throughout the United States and before arbitrators. He has also been involved in a variety of statutory and common law fraud, civil RICO, and civil conspiracy actions venued in New York, Maryland and Florida federal courts.
Because of the nature of his practice, Trip has been involved in numerous emergent applications for temporary and preliminary injunctions from pending commercial and corporate transactions, copyright and trademark infringement, to the implementation of statutes and regulations, and the subsequent litigation and trial focused on permanent injunction. Recent experience includes:
- Obtained partial vacatur of a FINRA award in favor of international financial services company.
- Obtained multimillion-dollar summary judgment in favor of international financial services company on a breach of services contract.
- Obtained a multimillion-dollar FINRA award in favor of an international financial services company, confirmed by the New York Supreme Court.
- Obtained a favorable New York Appellate Division (1st Department) decision for an international financial services company concerning appellant's appeal of the trial court's denial of its motion to amend to include a patent invalidity claim and for additional discovery.
- Representation of an international financial services company in New York state court action concerning allegation of defendant's unfair competition through its knowing use of misappropriated financial market data.
- Representation of a financial services company in a FINRA arbitration concerning allegations of respondent's unfair competition through its knowing use of misappropriated financial market data.
- Representation of tour bus company and non-controlling shareholders in a closely-held shareholder's dispute.
- Representation of national pharmaceutical business broker in state court action in which it alleges breach of contract, breach of the implied covenant of good faith and fair dealing and fraud against national pharmaceutical component company in the sale of one of its sterile injectable products units.
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