Mike Scheier is a trial lawyer who also helps our clients manage their litigation risks and achieve cost-effective non-litigation solutions. His practice is concentrated on valuation and shareholder disputes, and in the defense of ESOP fiduciary duty and other ERISA-related claims. Mike also has significant experience with lender liability and other financial services claims, and defending corporate directors and officers in state law actions alleging breaches of fiduciary duties. Mike also focuses his practice in enforcement of creditor's rights, and has developed extensive experience in bankruptcy court and state law insolvency and collection disputes.
Representative Work
Representative Trial Results
Successfully defended ESOP fiduciaries as lead trial counsel in 15-week bench trial resulting in complete defense judgment on all claims by plaintiff class seeking over $200 million for breach of fiduciary duty under ERISA Section 404 and other ESOP related ERISA violations
Successfully tried defense of lender liability claim against Great American Life Insurance Company in Delaware Federal Court.
Unanimous jury award for a plaintiff-financial institution in an Ohio state court bank fraud case against multiple defendants.
In a case tried to a jury in state court, obtained a multi-million dollar judgment, an award of attorneys' fees for bad faith breach of contract, judgment of specific performance in regard to the transfer of real property, and a directed verdict on the defendant's $2.5 million counterclaim.
Defense jury verdict in a multi-million dollar claim for breach of a commission contract and punitive damages tried to a jury in Ohio state court.
Defense jury verdict in a multi-million dollar claim for breach of fiduciary duty and legal malpractice tried to a federal court jury in Lexington, Kentucky.
Jury verdict in plaintiff’s favor in a UCC Article 3 forged endorsement and conversion case involving a major regional bank.
Representative Dismissals and Summary Judgments
Obtained summary judgment for several selling shareholders in large private company against claims alleging company overpaid for their shares in a corporate redemption filed in federal court in Cincinnati.
In a first stage ESOP transaction valuation dispute, procured unconditional dismissal of sponsor company CEO and CFO who sold their shares to the ESOP in a settlement that required no payment from his clients.
Procured dismissal of ESOP trustee before discovery based on plaintiff’s failure to state cognizable breach of fiduciary duty, loyalty and prohibited transaction claims.
Lead counsel to several former board members, including Board Chair, the former CEO, COO and President, of privately held companies leading to defense summary judgements seeking damages of over $100 million arising out of a second stage ESOP transaction.
Lead litigation counsel representing company CEO and Board Chair in summary judgment on ESOP breach of fiduciary duty claims seeking in excess of $100 million in Federal Court in Chicago.
Prosecuted claims for institutional ERISA trustee Fifth Third Bank for breaches of fiduciary duties by predecessor trustee resulting in significant settlement payment to Fifth Third Bank.
Defended institutional ERISA fiduciaries for breaches of duty in denying participant benefits claims resulting in a summary judgment and no liability.
Defended lender liability claims against Fifth Third Bank in Federal Court in Kentucky and Bankruptcy Court in New Jersey brought by prominent racing horse stable in New Jersey leading to favorable settlement for Fifth Third Bank.
Multi-million dollar settlement for a financial institution in a high profile lender liability and bank fraud case pending in both state and federal courts in Ohio and Kentucky.
Successfully obtained defense summary judgment for several trusts and individual creditors against an equitable subordination claim under Bankruptcy Code section 510(c) involving claims in excess of $50 million.
Lead defense counsel to Cintas Corporation, its CEO, and other officers, in a $150 million breach of fiduciary duty lawsuit by a bankruptcy trustee in a Alabama state court resulting in favorable settlement days before jury trial was set to begin.
Appellate Work
United States Supreme Court: Counsel to Amicus Curiae in an appeal of lower court decision to deny ESOP defendants’ fee shifting motion in an ESOP fiduciary duty case.
Federal Appellate Courts: Defended and prosecuted successful appeals in the Second (New York), Third (Philadelphia), Fifth (New Orleans), Sixth (Cincinnati), Seventh (Chicago), Ninth (San Francisco) and Eleventh (Atlanta) Federal Courts of Appeal.
Ohio Courts: Defended and prosecuted appeals and original actions in the Ohio Supreme Court and Ohio State Appellate courts.
Other State Courts: Prosecuted appeals in the Alabama Supreme Court and Illinois state appellate courts.
Mass Tort/Asbestos Matters
Represented creditors' committees, and secured and unsecured commercial creditors, in insolvency related disputes.
Represented the Celotex and UNR asbestos trusts in litigation matters.
Served as litigation counsel to creditor groups in mass tort bankruptcy cases including G-I Holdings, Babcock and Wilcox Company, Dow Corning, Armstrong World Industries, Eagle Picher Industries, and Wallace & Gale Company.
