About Paul J. Ferak

Paul Ferak is Chair of Greenberg Traurig’s global Financial Services Litigation practice. A recognized leader in the financial services industry, he brings deep knowledge of complex litigation and other matters, having served as lead and co-lead counsel in cases nationwide, including those involving cross-border matters. Paul and his team are well-versed in KYC, AML, and industry policies and procedures, and they closely monitor and anticipate trends and emerging risks impacting the industry.

Paul’s practice covers multiple product areas, including securities, cryptocurrencies, bank and credit products, commercial and residential loans, and other complex financial products. His matters span numerous affected industries, providing additional depth and business knowledge. He handles all types of class, individual, and trustee/receiver cases, and regularly deals with related government and other matters. With substantial experience in court and arbitration, including class actions and mass arbitrations, Paul brings a deep understanding of the financial services landscape. His wide reach of cases and depth of experience offer insight into the industry and have enabled him to help shape and strengthen the law in multiple areas.

Paul also helps lead litigation within the firm’s Franchise & Distribution practice. He has represented global franchisors and other companies in high-stakes litigation involving claims of breach of contract, breach of good faith and fair dealing, fraud, tortious interference, and violation of various franchise and other laws. He has broad experience handling franchise terminations, nonrenewals, and the enforcement of in-term and post-termination covenants. He has handled both class and individual franchise cases.

Paul also represents financial institutions, private equity firms, and other clients in a variety of complex business disputes, including working capital, earn-out, and other post-acquisition claims, both in arbitration and in court.

Concentrations

•Commercial litigation
•Bank litigation
•Class action defense
•Merger and acquisition disputes
•Franchise litigation

Recognition & Leadership

Awards & Accolades

•Listed, Crain’s Chicago Business, “Notable Gen X Leaders in Law,” 2019
•Listed, Leading Lawyers Network, 2019-2025
•Named, Client Service All Star, BTI Client Service All-Stars Report, 2018
•Team Member, The American Lawyer’s “Products Liability Litigation Department of the Year,” 2018
•Team Member, U.S. News - Best Lawyers, Best Law Firms Edition, 'Law Firm of the Year,' Banking & Finance - Litigation, 2017
•Member, Winning Team, Global M&A Network’s Turnaround Atlas Award, 'Insolvency Deal of the Year - Middle Markets,' for the Chapter 11 restructuring of ShengdaTech, Inc., 2013

 

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Services

Areas of Law

  • Litigation
  • Commercial Litigation
  • Other 9
    • Class Action Litigation
    • Financial Services Litigation
    • Banking & Financial Services
    • Financial Regulatory & Compliance
    • Franchise & Distribution
    • Restaurant Industry
    • M&A and Private Equity Dispute Resolution
    • Fintech
    • Complex Torts

Practice Details

  • Firm Information
    Position
    Shareholder
    Firm Name
    Greenberg Traurig, LLP
  • Representative Cases & Transactions
    Cases
    Experience: Financial Services Litigation: Served as lead
    co-lead counsel
    managed national team representing financial institution in litigation arising out of COVID. Multi-office
    cross-disciplinary team h
    led more than 30 class actions, MDL proceedings, national litigation,
    related matters.
    Represented financial institution in bankruptcy matter arising out the opioid crisis
    allegations of improper repurchase transactions causing alleged losses in excess of $6 billion.
    Served as lead counsel in $350 million Ponzi scheme related to sale of securities
    sham real estate transactions. Created new law in relation to receivership st
    ing, civil RICO,
    aiding
    abetting claims.
    Represented financial institution in nationwide class action relating to security procedures
    mobile banking. Obtained dismissal of the putative class action based on failure to state a claim
    on preemption grounds.
    Represented financial institution in relation to failed real estate development
    allegations of lender liability.
    Represented financial institution in connection with dispute arising out of failed commercial development project
    international st
    by letters of credit.
    Represented financial institution in dispute relating to the secured loan
    collateral, as well as a related cross-border dispute regarding the purchase of securities
    misappropriation of funds.
    Represented financial institution in dispute with a credit card processor asserting negligence claims in connection with a multi-year fraud scheme carried out by the merchant
    others. Involved efforts by processor to recover chargeback losses from credit card issuer. Case dismissed.
    Represented financial institution in nationwide class action relating to alleged deceptive practices relating to alleged improper account openings.
    Represented financial institution in connection with the underwriting of bond issuance
    allegations of securities fraud
    improper disclosures.
    Represented financial institution in nationwide class action relating to $200 million cryptocurrency Ponzi scheme
    claims under the securities laws.
    Represented financial institution in connection with earnout
    post-closing dispute in relation divested business
    claims by former business owner.
    Represented financial institution
    employee in connection with terminated credit facility
    allegations of aiding
    abetting in relation to ownership dispute among company insiders.
    Represented company in class action lawsuit by credit card customers involving claims of invasion of privacy, consumer fraud,
    unjust enrichment in relation to information-sharing practices. Became involved in the case after certification of a national class against the company. Obtained summary judgment ruling against the entire class of over 55 million consumers. Decision affirmed on appeal.
    Represented financial institution in connection with $650 million Ponzi scheme relating to film
    distribution business
    related proceedings.
    Represented credit card issuer in connection with claims for breach of contract, fraud, fraudulent inducement,
    negligent misrepresentation.
    Represented financial institution in connection with $396 million Ponzi scheme relating to the sale of debt portfolios
    allegations of aiding
    abetting
    other claims.
    Represented financial institution in connection with insurance fraud matter affecting multiple states
    involving claims of conversion, aiding
    abetting,
    other claims.
    Representation of financial institution in connection with mass arbitration matters
    related proceedings relating to alleged improper disclosures.
    Represented financial institutions in overdraft class action matters, seeking certification of both statewide
    national classes.
    Represented national bank in a putative class action involving claims arising under the Illinois Interest Act
    for consumer fraud
    breach of contract. Obtained dismissal of the case with prejudice prior to any discovery.
    Represented financial institution in litigation involving claims related to the deposit
    payment of fraudulently endorsed checks. Case was resolved with multi-million dollar payment to the financial institution client.
    Represented financial institution as plaintiff in litigation involving breaches of a participation agreement in connection with a property development. Resolved matter through settlement prior to trial.
    Representation of financial institution in payments litigation, including ACH, wire disputes,
    other matters.
    Represented company in connection with a putative class action relating to an alleged data breach. Class certification denied.
    Represented financial institution in matters alleging fraud
    other claims in relation to an alleged Ponzi scheme. Obtained dismissal of actions.
    Represented financial services company in relation to a Ponzi scheme associated with the purchase
    sale of USDA business
    industry loans in the secondary market. Recovered more than $120 million dollars from businesses
    individuals connected with the fraud.
    Represented financial institution against an international manufacturer
    individual
    company guarantors for breach of contract. Obtained summary judgment under loan
    guaranty agreements
    defeated arguments based on impairment of collateral
    other grounds.
    Represented financial institution on claims arising under the Fair Debt Collection Practices Act. Obtained dismissal of the case prior to discovery.
    Represented electronic trading company in litigation involving federal securities, breach of contract, breach of fiduciary duty, conversion,
    other claims. Obtained dismissal of the case prior to discovery.

    Class Action Defense: Represented company in nationwide class action relating to allegations of deceptive
    unfair pricing.
    Representation of company in connection with nationwide class action relating to rewards program
    allegations deceptive
    unfair practices.
    Represented company in class action alleging invasion of privacy
    other claims arising out of a data breach.
    Represented one of the nation's largest retailers in a series of putative class action lawsuits arising out of the marketing
    sale of certain products. Litigation team defeated motions for class certification of both nationwide
    statewide classes in multidistrict litigation proceedings. Obtained dismissal of numerous individual claims. Also obtained favorable rulings from state trial courts dismissing complaints in their entirety
    had those rulings affirmed on appeal.
    Represented major retailer in a putative class action alleging claims based on consumer fraud relating to the charging of restocking fees. Case was resolved prior to discovery after the filing of a motion to dismiss.
    Represented major retailer in a class action lawsuit involving claims of invasion of privacy, consumer fraud,
    unjust enrichment.
    Represented music company
    record label in putative class action lawsuit based on allegations of deceptive packaging, labeling,
    advertising. Obtained dismissal of the case prior to discovery.
    Represented major international auditing firm in federal securities class action litigation
    other matters arising out of the bankruptcy of one of the largest retailers in the country. Obtained dismissal of the putative class action securities lawsuit on loss causation
    other grounds
    had dismissal order affirmed by the Sixth Circuit Court of Appeals.

    Franchise Litigation: Represented franchisor in putative class action asserting claims for fraud, declaratory relief,
    violation of various franchise disclosure laws. Class claims stricken
    matter compelled to individual arbitration.
    Represented franchisor in connection with RICO
    other claims arising out of a redevelopment
    modernization plan.
    Represented franchisor in matter involving allegations of improper nonrenewal
    unlawful expiration of the franchise agreement. Case dismissed with prejudice prior to discovery.
    Represented franchisor in matter involving allegations of negligence
    other causes of action, seeking to hold franchisor responsible for failure of general contractor to complete construction of franchisee's restaurant. Joined as counsel after the close of discovery. Won summary judgment on all claims.
    Represented company in dispute with major vendor
    allegations of improper termination.
    Represented company in dispute involving software provider
    allegations involving breach of contract
    other claims.
    Represented franchisor in matter seeking to hold franchisee individually responsible under guaranty for various violations under franchise agreement.
    Represented company in connection with dispute relating to sponsorship
    sporting event.
    Represented franchisor in connection with lease
    other disputes with l
    lord due to failure of franchisee to perform under lease.
    Represented company in connection with claims against manufacturer of products.
    Represented franchisor in connection with claims against franchisee for violation of various non-compete
    other terms under franchise agreement
    in relation to sale of franchise.
    Represented franchisor in matter involving claims for termination of franchise agreement
    defense of claims for breach of contract, fraud,
    violation of various franchise laws. Matter involved substantial issues relating to jurisdiction, arbitration,
    venue.
    Represented franchisor
    served as lead U.S. counsel in dispute with international franchisee involving allegations of breach of contract, violation of in-term
    post-termination covenants,
    improper use of intellectual property
    trade secrets.
    Represented franchisor in matter involving claims against vendor for violation of contract
    non-compete
    non-solicitation terms.
    Represented franchisor in matter involving claims against franchisee for damages
    seeking termination of franchise agreement.
    Represented franchisor in connection with strategic plan to withdraw from market.

    Acquisition Disputes
    Other Business Litigation: Represented company in connection with breach of contract
    other claims after divesting assets.
    Represented seller in post-acquisition dispute asserting claims for breach of warranty
    indemnification. Won matter at trial
    recovered damages
    attorneys' fees.
    Represented company in connection with dispute among ownership
    allegations of breach of contract, fraud,
    minority shareholder oppression.
    Represented leading environmental testing firm in litigation against a major oil
    gas company for breach of contract claims. Case was resolved with multimillion-dollar payment to testing firm.
    Represented liquidation trustee of a trust holding assets of a former oil refinery. Part of litigation team defending the liquidation trustee in CERCLA litigation filed by federal
    state governments seeking recovery costs.
    Represented gasoline distributor in a case involving claims under the Petroleum Marketing Sales Act
    for breach of contract. Case was resolved prior to discovery.
    Represented government contractor in litigation involving claims of copyright infringement, trade secrets,
    deceptive trade practices. Litigation team was brought in to prepare the case for trial. Case was resolved for the client.
    Represented toy manufacturer
    licensee in litigation involving claims arising under the Lanham Act
    for breach of contract, misappropriation of trade secrets, unjust enrichment,
    injunctive relief. Obtained a preliminary injunction against the licensor enjoining efforts to terminate the parties' relationship. Case was subsequently resolved prior to trial.
    Represented an insurance company in a series of earnout disputes relating to the sale of affiliates
    subsidiaries. Obtained court rulings compelling arbitration
    , in aid of arbitration proceedings, had those rulings affirmed by the Seventh Circuit Court of Appeals. Also obtained favorable rulings from the accounting firm arbitrator on the merits.
    Represented holding company in connection with litigation arising out of the purchase
    sale of stock of various affiliates
    subsidiaries. Obtained a favorable arbitration ruling in excess of $20 million in a post-closing adjustment dispute related to the sale.
    Represented private equity firm in a matter involving allegations of fraud, breach of fiduciary duty,
    breach of contract relating to over $80 million in equity
    debt financing provided to a portfolio company.
    Represented real estate developer
    minority shareholder in an action relating to the development, construction,
    management of a $108 million Chicago hotel.
    Represented real estate owner
    hotel
    casino operator in actions arising out of the purchase
    sale of real estate in Las Vegas, Nevada, valued in excess of $60 million. Expunged various lis pendens filed against the property by different entities
    obtained judgments against several defendants.
  • Additional Links

Experience

  • Bar Admission & Memberships
    Admissions
    Illinois
    U.S. Court of Appeals for the Eighth Circuit
    U.S. Court of Appeals for the Fourth Circuit
    U.S. Court of Appeals for the Ninth Circuit
    U.S. Court of Appeals for the Seventh Circuit
    U.S. District Court for the Western District of Wisconsin
    U.S. Bankruptcy Court for the Western District of New York
    U.S. District Court for the District of Colorado
    U.S. District Court for the Eastern District of Michigan
    Trial Bar, U.S. District Court for the Northern District of Illinois
    U.S. District Court for the Southern District of Illinois
    U.S. Court of Appeals for the Sixth Circuit
    Memberships

    Professional & Community Involvement

    •Founding Member, Chicago-Kent Law Review Alumni Board
    •Member, Executive Council, Glamourgals
    •Member, American Bar Association
    •Litigation Section
    •Business Law Section
    •Class Action Section
    •Member, Illinois State Bar Association
    •Member, Chicago Bar Association
    •Judicial Evaluation Committee’s Investigative Division
    •Class Litigation Section
    •Commercial Litigation Section
    •Financial Institutions Section
    •Former Member, International Franchise Association's Legal Symposium Task Force
    •Former Adjunct Professor, Chicago-Kent College of Law
    •Former Board Member, Firebelly Foundation
    •Former Member, Young Professionals Network, William Blair and Company
    •Former Member, Young Leaders Foundation, Chicago Community Trust, Economic Development Committee

  • Education & Certifications
    Law School
    Chicago-Kent College of Law, Illinois Institute of Technology
    Class of 2000
    J.D.
    Other Education
    Order of the Coif

    Editor-in-Chief, Chicago-Kent Law Review

    Northern Illinois University
    Class of 1997
    B.A.
    Political Science, magna cum laude

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Attorneys FAQs

  • Is this attorney admitted to practice in any U.S. Federal Courts?
    Paul J. Ferak is admitted to practice before the United States Court of Appeals for the Eighth Circuit, United States Court of Appeals for the Fourth Circuit, United States Court of Appeals for the Ninth Circuit, United States Court of Appeals for the Seventh Circuit, United States Court of Appeals for the Sixth Circuit, United States District Court for the District of Colorado, United States District Court for the Eastern District of Michigan, United States District Court for the Southern District of Illinois and United States District Court for the Western District of Wisconsin.
  • How many attorneys are in this law firm?
    Greenberg Traurig, LLP has 2750 attorneys at this location.
  • What law school did this attorney attend?
    Paul J. Ferak attended Chicago-Kent College of Law, Illinois Institute of Technology.
  • What year was this attorney's law firm established?
    Greenberg Traurig, LLP was established in 1967.