Robert L. Schnell Jr.

Partner

robert.schnell@FaegreBD.com
Direct: +1 612 766 7225
Minneapolis Office
2200 Wells Fargo Center
90 S. Seventh Street

Minneapolis, Minnesota 55402-3901

Contact Information


robert.schnell@FaegreBD.com2200 Wells Fargo Center
90 S. Seventh Street
Minneapolis, Minnesota 55402-3901
T: +1 612 766 7225
F: +1 612 766 1600

Education

Harvard Law School
J.D., magna cum laude, Law Review (1974)
Princeton University
A.B., cum laude (1970)

Bar Admissions

Minnesota

Court Admissions

U.S. Court of Appeals for the Eighth Circuit U.S. Court of Appeals for the Ninth Circuit U.S. Court of Federal Claims U.S. District Court for the District of Minnesota U.S. Supreme Court

Robert L. Schnell Jr.

Partner

Robert is the co-chair of the firm's securities and financial markets litigation practice area. He focuses his practice primarily on the resolution of complex commercial disputes, many of which have involved investment bankers, brokers/dealers or banks. Bob has acted as lead counsel in the following representative matters:

  • Lead counsel for the SIPC Trustee in litigation relating to the largest SIPC proceeding in history, MJK Clearing, Inc. The result was full payment to all creditors, plus interest.  
  • Represented Guidant Corporation, Boston Scientific Corporation, and Abbott Laboratories in complex commercial litigation matters related to vascular intervention devices, cardiac rhythm management devices, and related technologies.
  • Served on an interim basis as Senior Managing Counsel for a national broker/dealer.  
  • Lead counsel for several underwriting syndicates in complex bankruptcy and securities fraud cases involving Bonneville. Pacific Corporation, ultimately resolved through settlement  
  • Advised and represented employers, especially in the medical device industry, in numerous non-compete cases in federal and state courts.  Successfully prosecuted several of the leading Minnesota cases enforcing non-competes.
  • Lead trial counsel and lead appellate counsel for Minnesota banks in a tax refund case that went through trial, the Minnesota Supreme Court (3 times) and the United States Supreme Court (3 times) and resulted in recoveries to Minnesota banks exceeding $200 million.  
  • Lead trial counsel for underwriter of senior housing revenue bonds which went into default, resulting in a so-called "mass action" against the underwriter and others. Successfully obtained dismissal of the plaintiff's claims at trial court, affirmed on appeal.  
  • Counsel for underwriters relating to claims arising out of the bankruptcy or reorganziations of several sub-prime auto lenders.  
  • Lead counsel for one of several broker/dealers who sold single-premium deferred annuities issued by a major insurance firm which later went into bankruptcy.  
  • Counsel for directors and officers named in securities cases involving a variety of different businesses from restaurants to golf teaching aids. 
  • Lead trial for large institutional investor suing Minnesota counties and municipalities on defaulted housing bonds and obtained from the United States Court of Appeals for the Eighth Circuit, a determination that plaintiff may properly pursue securities fraud claims against government entities.

Pro Bono

  • Eighth Circuit Gender Fairness Task Force Report, principal editor (September 1997)

Honors

  • The Best Lawyers in America, Commercial Litigation, 2009–12
  • Super Lawyers, Business Litigation
  • Chambers USA: America's Leading Lawyers for Business, General and Commercial Litigation, 2009–11

Professional Associations

  • Hennepin County Bar Association - Civil Litigation Section
  • Securities Industry Association

Civic Activities

  • AAA - arbitrator 
  • NASD - arbitrator
  • Minnesota Institute of Legal Education
  • Minnesota State Bar Association Continuing Legal Education
  • United Way

Presentations

  • Elimination of Bias in Legal Profession
    Minnesota Continuing Legal Education (1998)
  • Securities Litigation in 1998 (speaker and course chair)
    Minnesota Continuing Legal Education (1998)
  • Troubled Transactions and Structured Finance Litigation
    Securitization & Structured Finance Institute (1998)
  • Report of Eighth Circuit Gender Fairness Task Force
    Eighth Circuit Judicial Conference (1997)
  • Private Securities Litigation Reform Act of 1995 (speaker and course chair)
    Minnesota State Bar Association (1996)
  • Trial Advocacy
    National Institute For Trial Advocacy (1994)
  • The Law Has its Privileges (speaker and course chair)
    Minnesota Institute for Legal Education (1993)
  • All About Privileges (speaker and course chair)
    Minnesota Institute for Legal Education (1991)

Related Practices

Capital Markets & Securities
Class Actions
Corporate
Corporate Governance
Finance & Restructuring
Financial Institutions Regulation
Intellectual Property Litigation
Investment Management
Labor & Employment
Litigation & Advocacy
Regulatory
Securities & Financial Litigation
Securitization Defaults & Corporate Trust Defaults
Trade Secrets Litigation

Related Industries

Banking & Financial Services
Health Care
Life Sciences
Manufacturing & Industrials

Media Mentions

07-February-2011 - R. Schnell Jr. Featured in Financier Worldwide's M&A TalkingPoint Interview
28-April-2010 - The Secrets to Winning Trade Secrets Receives Glowing Review From Popular Blog
18-March-2010 - Law360 Publishes Comments by Schnell and Simonson Regarding Loss Causation, ARS Market Collapse

Education

Harvard Law School
J.D., magna cum laude, Law Review (1974)
Princeton University
A.B., cum laude (1970)

Legal Updates

03-April-2012 - Bipartisan JOBS Act Provides Significant Reforms to Public and Private Securities Offerings
14-July-2011 - Do Non-Competes Push Talent Away?
15-July-2010 - Financial Stability
18-March-2010 - 'It Was The Economy, Stupid' — Loss Causation And ARS
13-January-2010 - Medtech Litigation in 2009
16-September-2009 - A Primer on Noncompetition Agreements: Ten Questions You Should Answer
22-June-2009 - Noncompetition and Nonsolicitation Agreements: Legal Tips and Potential Pitfalls
09-September-2008 - Former Officer Receives Change-in-Control Bonanza: Zebeck v. Metris Cos.
09-September-2008 - What Amount of Deference Should a Court Give to a Special Litigation Committee? The Minnesota Supreme Court Gives a Deferential Answer
09-September-2008 - Corporate Bylaws Requiring Officer Indemnification and Advances Of Defense Costs May Apply Even Where There Has Been Criminal Misconduct
09-September-2008 - Who Should Pay for a Successful Shareholder Proxy Campaign? The Delaware Supreme Court Issues a Split Decision

News

06-September-2011 - Ninety Faegre & Benson Lawyers Listed in The Best Lawyers in America
10-June-2011 - Faegre & Benson Practices Ranked Nationally in 2011 Chambers USA
26-April-2011 - New Edition Now Available of Acclaimed Trade Secrets Litigation Guide by Faegre & Benson Lawyers
09-August-2010 - Ninety-Three Faegre & Benson Lawyers Listed in The Best Lawyers in America
08-July-2010 - FINRA Panel Awards Firm Client Intevac Full Return on ARS Purchase From Citigroup
29-June-2010 - Chambers Recognizes Faegre & Benson General Commercial Litigation Practices in Minnesota and Colorado
31-July-2009 - 96 Faegre & Benson Lawyers Listed in The Best Lawyers in America
12-June-2009 - Faegre & Benson Receives Top Chambers Rankings, National Franchise Practice Moves Up
01-October-2008 - The Best Lawyers in America 2009 Includes 90 from Faegre & Benson
04-March-2008 - Faegre & Benson Attorneys Earn Recognition by Chambers USA

Bar Admissions

Minnesota

Court Admissions

U.S. Court of Appeals for the Eighth Circuit
U.S. Court of Appeals for the Ninth Circuit
U.S. Court of Federal Claims
U.S. District Court for the District of Minnesota
U.S. Supreme Court

Events

18-April-2012 - Enforcing Restrictive Covenants:
A View from Both Sides of the Atlantic
24-November-2008 - Webcast: TARP—The First 45 Days

Representative Matters

Amicus Representation of the Securities Industry
Represented Boston Scientific in Breach of Contract Case
Won Full Return on $57 Million ARS Purchase From Citigroup

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