Adam Oppenheim Secures Key Victory for First New York

June 8, 2022

Partner Adam Oppenheim secured a key victory for firm client First New York in a contentious case brought by one of FNY’s former members, who alleged that certain provisions of the firm’s operating agreements were unenforceable against him. Oppenheim, together with Yonaton Aronoff and Michelle Fox, prevailed on a pre-discovery motion that helped First New York achieve an outstanding result while avoiding prolonged and costly discovery.

The victory was absolute, resulting in a determination that all the challenged provisions in First New York’s operating agreements were valid and enforceable, despite the plaintiff’s allegations to the contrary. District Judge Victor Marrero (SDNY) granted Oppenheim’s letter-motion without argument and ended the case.

The case is David Nguyen v. FNY Holdings, et al., case number 1:21-cv-04079-VM, in the U.S. District Court for the Southern District of New York.