Lawyer Overview

James R. Cummins is the Chairman of the Corporate and Securities Law Department of Waite, Schneider, Bayless & Chesley Co. L.P.A.  he has practiced in the securities and corporate governance fields for over 25 years, including securities fraud class actions, shareholder derivative actions, proxy contests and board governance matters, as well as advising corporate officers and directors in compliance and enforcement matters.  He has been recognized, among only 236 lawyers in 40 countries, for his corporate governance experience and expertise by the International Who's Who of Corporate Governance Lawyers.

In 2003, Jim was co-lead trial attorney in the successful prosecution of a federal securities fraud claim and state breach of fiduciary duty claim against DPL, Inc.  (NYSE:  DPL).  The global settlement of $145.5 million in the combined federal and state cases ranks as the 21^st largest in the history of securities fraud cases.

He currently supervises the firm's work as Lead Counsel in the Freddie Mac and Fannie Mae securities class action litigation, Ohio Public Employees Retirement System, et al. v. Federal Home Loan Mortgage Corporation, et al S.D.N.Y. and In re Fannie Mae Securities Litigation, U.S.D.C., District of Columbia .  The Freddie Mac litigation was recently settled for $410 million, ranking the settlement as the 9^th largest of all federal securities class action cases.

Jim was co-trial counsel for 200 physicians in the nation's first successful antitrust, RICO and securities fraud case against a HMO system.  The trial team secured a jury verdict of $108 million for their clients, which was the largest award in the history of Hamilton County, Ohio at the time, which eventually resulted in $65 million payout to the clients.

Jim's creative and unique approach to proxy contests resulted, in 1996, in a successful change in management of an American Stock Exchange bank holding company.  Characterized as an exercise in corporate democracy, by US Banker, the monthly bible of the banking industry, Jim was recognized as the first attorney in the nation to use the Internet's worldwide web in a proxy contest, communicating rapidly and simultaneously with all of the company's shareholders. According to the Cincinnati Enquirer, Jim became the nerve center' through which the proxy fight was staged.

His achievements in complex corporate litigation were recognized in an American Lawyer survey of 400 corporate general counsels, as one of two recommended corporate litigators in the southern Ohio region.

Representative Clients and Engagements

Securities and Shareholder Derivative Actions:

In Re Freddie Mac Securities Litigation, MDL 1584, Lead Case No. 03-CV-4261, U.S. District Court, S.D.N.Y.  Lead Counsel for lead plaintiffs and the class in a national federal securities fraud class action against Freddie Mac and three of its former executive officers.  Global settlement of $410 million cash is the 9^th largest federal securities class action ever.

In Re Fannie Mae Securities Litigation, Consolidated Civil Action No. 04-CV-01639, U.S. District Court, District of Columbia .  Lead Counsel for lead plaintiffs in securities fraud class action litigation against Fannie Mae, three of its former senior executive officers, KPMG and Goldman Sachs.

In Re DPL Inc. Securities Litigation, Case No. C-3-02-355, U.S District Court, S.D. Ohio .  Co-Lead Counsel for lead plaintiffs and the class in federal securities fraud class action against company and its former senior officers.  Global settlement of $145.5 million for combined federal and states cases is the 21^st largest securities class action and settlement in the United States ever.

In Re OM Group, Inc. Securities Litigation, Case No. 1:02-CV-2163, U.S. District Court, Northern District of Ohio, Eastern Division.  Counsel for lead plaintiffs and class in securities fraud class action litigation.

David Slone, et al., U.S. District Court, Southern District of Ohio, Western Division, Case No 1:03-CV-211.  Special Counsel for Defendant Fifth Third Bancorp in securities fraud class action litigation.

ChoiceCare Litigation, U.S. District Court, S.D. Ohio .  Co-lead trial attorney; obtained jury verdict of $108 million against ChoiceCare for physicians.

Austern Trust v. Peter H. Forster, et al., Hamilton County Common Pleas.  Represented plaintiff in shareholder derivative action resulting in a $5.5 million settlement, which included important corporate governance reforms.

In Re FirstEnergy Shareholder Derivative Litigation, U.S. District Court, Northern District of Ohio.  Co-Lead Counsel for plaintiffs in shareholder derivative action.

Other Litigation and Regulatory Matters:

State of Ohio, Milk Antitrust Litigation, U.S. District Court, S.D. Ohio .  Co-Lead trial attorney with Stanley M. Chesley; obtained settlement for Ohio schools in price fixing litigation.

Clorox (NYSE:CLX).  Defense litigation against claims of P & G (three cases); continuing defense litigation services.

Countrywide Credit Industries (NYSE:CCR).  Prosecution of non-competition and trade secret use. 

Johnson & Johnson (NYSE:JNJ).  Represent subsidiaries, including Ethicon Endo-Surgery, defense of non-competition litigation; representation of officers and employees in shareholder litigation involving Theragenics Corporation (not a J&J entity); employment law defense litigation.

Structural Dynamics Research Corporation (NASD:SDRC).  Defense representation of CEO in civil securities litigation and regulatory enforcement matters.

F&C Flavoring Co. (NASD).  Defense representation of Chairman and outside directors in shareholder litigation and regulatory enforcement matters.

Corporate Governance Projects:

Professional Bancorp (AMEX:MDB).  Successful proxy contest; board restructuring; crisis management; corporate governance matters; SEC Compliance.

Frisch's Restaurants (AMEX:FRS).  Representation of board against dissident challenges; board restructuring; crisis management; continuing representation for SEC compliance and corporate governance matters.

Areas of Practice

• Securities Law
• Corporate Law
• Class Action
• Derivative and Commercial Litigation
• Health Care
• Antitrust

West Practice Categories

Antitrust & Trade Regulation, Business & Commercial Law, Business Organizations, Class Actions -- Plaintiff, Health & Health Care Law, Securities Law

Bar Admissions

• Ohio, 1967
• U.S. District Court Southern District of Ohio, 1970
• U.S. Court of Appeals 6th Circuit, 1995
• Kentucky, 1999
• District of Columbia, 2004

Professional Associations and Memberships

• Cincinnati Bar Association (Member, Long Range Planning Subcommittee, 1989)
• Ohio State Bar Association (Member)
• Kentucky Bar Association (Member)
• American Bar Association (Member, Committee on Federal Regulation of Securities, 1981)
• American Bar Association, Member (Subcommittee on Investment Companies and Investment Advisers, 1981)

Honors and Awards

• The International Who's Who of Corporate Governance Lawyers (2002)
• The American Lawyer, Corporate General Counsel's Selection
• Ohio Super Lawyer 2007
• The American Lawyer, Winners Circle 2006

Classes and Seminars

• Attorney Responses to Accountant Opinion Request Letters, Cincinnati Bar Association, 1987
• Civil Rico, Ohio Northern University, 1988
• The Year 2000 Time Bomb: Legal & Corporate Governance Implications for Board of Directors, Trustees and Officers, Cincinnati and Columbus Bar Associations, 1999
• (Co-Chair with KPMG Forensics), Corporate Ethics: Can Trust Be Rebuilt - Pro-Active Steps Toward Effective Corporate Governance, Cincinnati Bar Association, 2002
• Featured Speaker, Sarbanes-Oxley Act Implications for Internal Auditors, Protiviti (Arthur Andersen's former Risk Management Practice Group, 2002

Education

• University of Cincinnati College of Law, Cincinnati, Ohio, 1967
  J.D.
  Honors: Phi Delta Phi
  
  Law Review: University of Cincinnati Law Review, Case Note Editor, 1966 - 1967
• New York University School of Law, New York, New York, 1968
  LL.M. International Business Transactions
  
  Law Review: New York International Law Review, Editor, 1967 - 1968
• Princeton University, 1964
  A.B.

Accepts Credit Cards

Address

1513 Fourth & Vine Tower
Cincinnati, OH 45202

Phones

(513) 621-0267

Faxes

(513) 381-2375

Emails

Contact Us

Websites

http://www.wsbclaw.com (Cincinnati Office)
http://www.wsbc-col.com