Jeffrey S. Torosian

Partner

Co-Chair, US M&A and Private Equity Litigation Group
Co-Chair, US Bankruptcy Litigation Group

Emailjeffrey.torosian@us.dlapiper.com

Call+1 312 368 4045

Chicago

About

Jeff Torosian is one of the nation's leading corporate trial lawyers, the Co-Chair of the firm's US M&A and Private Equity Litigation Group, and the Co-Chair of the firm's US Bankruptcy Litigation Group. For over 30 years, Jeff has tried major cases in courtrooms throughout the United States, managed complex, bet-the-company litigations and arbitrations, run large litigation departments, and led litigation teams around the world. Jeff has won dozens of significant trial victories, with several separate matters reported on the front page of the Wall Street Journal and the Chicago Tribune.

Jeff's cases involve business disputes of nearly every kind in federal and state courts and in numerous arbitration and mediation agencies around the country. Jeff routinely handles disputes involving business transactions—private equity litigation, M&A disputes, shareholder fights, corporate governance lawsuits, and bankruptcy trials. Jeff also regularly acts as a trusted advisor to corporate boards, senior executives, and in-house counsels, helping his clients navigate complex legal issues to achieve their strategic business objectives.

Jeff is heavily involved with the Chicago business and cultural community and currently serves on the Board of Directors of World Business Chicago by appointment of the Mayor of Chicago. Jeff is also a member of the Board of Trustees of the Goodman Theatre, the Board of Trustees of The Newberry Library, the Merit Selection Panel for the US District Court for the Northern District of Illinois by appointment of the Chief Judge, The Economic Club of Chicago, and the National Association of Corporate Directors. Jeff has recently been named to Crain's Chicago Business' 2025 list of Notable Litigators and Trial Attorneys, which highlights the attorneys who are "shaping Chicago's legal landscape."

Areas of FocusLitigation, Arbitration and Investigations Business and Commercial Litigation

Bar admissionsIllinois

CourtsSupreme Court of IllinoisUnited States District Court for the Northern District of Illinois (including the Trial Bar)United States District Court for the Central District of IllinoisUnited States District Court for the Eastern District of WisconsinUnited States District Court for the Northern District of IndianaUnited States District Court for the Western District of MichiganUnited States Court of Appeals for the Seventh CircuitUnited States Court of Appeals for the Ninth CircuitUnited States Tax Court

EXPERIENCE

M&A and Private Equity Disputes

Cases involving post-transaction claims: Obtained judgments and extremely favorable settlements in dozens of cases involving purchase price adjustments, breaches of representations and warranties and fraud on behalf of private equity purchasers of businesses in numerous industries, including the pharmaceuticals, real estate investment, packaging, manufacturing, construction, chemicals, laboratory service, healthcare services, environmental services, and other industries
US$400 million private equity dispute: Represented one of the largest private employers in Brazil in connection with a bet-the-company dispute against one of its minority shareholders, resulting in a successful settlement
Judgment on corporate merger dispute: Won partial summary judgment on claims for failed merger of cargo service companies, resulting in extremely favorable settlement
Arbitration of corporate purchase price adjustment: Won arbitration in a one-week arbitration of purchase price adjustment case involving the sale of nursing home facility

Shareholder Disputes

Arbitration of minority shareholder oppression claims: Won a three-week arbitration on claims for minority shareholder oppression
Judgment on business breakup: Won judgment against a former shareholder and officer of a closely held corporation, terminating her ownership interests
Trial of "fair value" buyout: Won favorable judgment in a trial of "fair value" valuation of telecommunications company
Trial of buyout valuation: Won trial on valuation of a buyout obligation pursuant to a shareholder buy-sell provision

Corporate Governance Cases

Trial of receivership and breach of fiduciary duty claims: Won trial defending company against receivership and breach of fiduciary duty claims
Trial of breach of fiduciary duty claims: Won trial against former fiduciary of trust for scheme to bilk trust assets
Injunction to protect incumbent board: Won injunction protecting incumbent board of directors of large, privately held corporation, leading to favorable settlement of proxy fight and related litigation
Summary judgment on successor liability claim: Won summary judgment on behalf of Fortune 100 financial services company, defeating US$30 million successor liability claim for actuarial malpractice

Bankruptcy Trials

Trials of US$225 million post-acquisition disputes: Led trial team for two trials involving post-acquisition disputes on behalf of successful stalking-horse bidder; awarded "Healthcare/Life Sciences Deal of the Year Award" by the M&A Advisor
Trial of US$300 million claim estimation: Led trial team for cryptocurrency valuation fight in Delaware Bankruptcy Court
Trustee claims: Recovered tens of millions of dollars for Chapter 7 Trustee in several adversary actions involving a complex global private jet financing and bribery scheme
Trial for sale approval: Won trial approving sale of assets of large pharmaceutical company against objection from preferred equity holders
Plan confirmation dispute: Led litigation team on plan confirmation dispute leading to successful restructuring; awarded "Real Estate Deal of the Year Award" by the M&A Advisor
Trial for trustee appointment to protect US$1 billion in claims: Won trial to appoint Chapter 11 trustee in groundbreaking decision under US Bankruptcy Code; awarded "International Matter of the Year" by the American Bankruptcy Institute (ABI)
Trial for adequate protection: Led trial team for trial of adequate protection motion on behalf of mezzanine lenders of real estate company
Trial of US$160 million bankruptcy claim: Represented the official committee of unsecured creditors in a nationally followed, three-week-trial on ground-breaking claims for the private equity industry
Trial of attempted trustee appointment: Represented the equity holder in a high-profile trial of attempt to appoint a Chapter 11 trustee, resulting in a favorable settlement

Cybersecurity and Data Breach Cases

Anthem data breach: Represented major company in connection with overall litigation exposure analysis, risk assessment and data breach response plan in connection with Anthem data breach
Ashley Madison data breach: Represented major company in connection with overall litigation exposure analysis, risk assessment and litigation strategy in connection with Ashley Madison data breach

Trade Secret, Unfair Competition and Restrictive Covenant Cases

Injunction judgment to protect trade secrets: Won permanent injunction to protect global agricultural industry manufacturer's trade secrets involving launch of new product line
Trial of breach of non-solicitation agreement: Won trial enforcing a client's non-solicitation agreement against senior executive who joined a competitor
US$10 million trade secret dispute: Obtained favorable settlement after extensive litigation for a client accused of committing numerous business torts when it took over a competitor's regional office
Injunctions for trade secrets: Handled dozens of temporary restraining order (TRO) and injunction matters seeking protection for trade secrets or defending against trade secret claims in a wide range of industries

Contract Claims

Judgment for major US retailer in contract dispute: Won US$8 million judgment for major retail company in contract dispute against significant manufacturing supplier
Arbitration of breach of contract involving trading platform software: Won US$80 million arbitration of breach of contract and fraudulent inducement claims for a leading investment bank
US$50 million breach of contract: Obtained a valuable business settlement helping to save client's resort business
Jury trial of US$20 million breach of contract: Won extremely favorable jury verdict and the subsequent appeal after 3-week jury trial on steel supply contract dispute
US$10 million contract claim: Obtained a large settlement after extensive litigation for unpaid royalties and misuse of intellectual property

Commercial Fraud Claims

US$60 million broker-dealer fraud: Successful defense of major investment bank in connection with a complex US$60 million fraud involving cemetery trust funds
Dismissal of commercial fraud claim: Won dismissal of civil Racketeer Influenced and Corrupt Organizations (RICO) Act claims and outstanding settlement of remaining claims
US$25 million international currency trading fraud claim: Unraveled defendants' fraudulent trading scheme, leading to settlement of claims

Real Estate Cases

Trial of claims for control of industrial real estate: Won trial and summary judgment (on remaining issues) for control of an industrial property worth US$10 million
Trial of claims regarding storm water drainage easement: Won week-long trial regarding commercial property owner's development and use of a storm water drainage facility
Judgment on real estate purchase option: Won judgment for specific performance of a real estate purchase option

Awards

Jeff has been named to Crain's Chicago Business' 2025 list of Notable Litigators and Trial Attorneys, which highlights the attorneys who are "shaping Chicago's legal landscape." Jeff has also been named an Illinois Super Lawyer since 2007 and has been recognized by the Leading Lawyers network since 2009. In 2004, he was named among the 40 Illinois Attorneys Under Forty to Watch by Chicago Lawyer magazine and the Law Bulletin Publishing Co.

Education

J.D., Pepperdine University School of Law, 1993
Literary Editor, Pepperdine Law Review

B.A., University of Chicago, 1990

Bylines

Co-author, "Forum Alternatives for Purchase Price Adjustment Disputes," ABA Commercial & Business Litigation Newsletter, August 16, 2012

Seminars

Media Mentions

Prior Experience

Prior to joining AKD Partners, Jeff chaired the Chicago litigation departments of two major international law firms.

Teaching Experience

Adjunct Professor, Commercial Litigation Strategy, DePaul University College of Law, (1999 – 2001)

Memberships And Affiliations

Chair, Private Equity Litigation Subcommittee, American Bar Association, (2007 – 2017)

Civic and Charitable

The Goodman Theatre: Board of Trustees (2025 – present)
National Association of Corporate Directors: Member (2025 – present)
The Economic Club of Chicago: Member (2025 – present)
World Business Chicago: Board of Directors (2022 – present)
The Newberry Library: Board of Trustees (2022 – present)
US Magistrate Judge Merit Selection Panel, US District Court for the Northern District of Illinois: Member (2009, 2024 – present)
Business Executives for National Security: Member (2023 – 2025)
Wake Forest University: College Board of Visitors (2020 – 2023)
Illinois Attorney Registration and Disciplinary Commission: Hearing Board Chair (2012 – 2016); Hearing Board (2009 – 2016); Oversight Board (2009 – 2012)
University of Chicago: Chair, Chicago Leadership Committee (2005 – 2007); Chicago Cabinet (2005 – 2007)