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Sergey Aleynikov Fees Memorandum of Law

Sergey Aleynikov Fees Memorandum of Law

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Published by DealBook
Memorandum by Sergey Aleynikov, the former Goldman Sachs programmer, who is suing his former employer in an attempt to recoup some of the fees from his legal battles over his taking of computer code from the bank.
Memorandum by Sergey Aleynikov, the former Goldman Sachs programmer, who is suing his former employer in an attempt to recoup some of the fees from his legal battles over his taking of computer code from the bank.

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Published by: DealBook on Sep 26, 2012
Copyright:Attribution Non-commercial

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03/29/2014

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 i
TABLE OF CONTENTS
PRELIMINARY STATEMENT .....................................................................................................1
STATEMENT OF FACTS AND PROCEDURAL HISTORY .......................................................3
I.
ALEYNIKOV IS ENTITLED TO IMMEDIATE ADVANCEMENT OFDEFENSE COSTS RELATED TO THE STATE CHARGES BECAUSE HEWAS AN OFFICER OF GOLDMAN SACHS AND THE STATE CHARGESWERE BROUGHT “BY REASON OF THE FACT” THAT HE WAS AGOLDMAN SACHS OFFICER. .........................................................................................8
A.
Legal Standard ...............................................................................................................8
B.
Aleynikov Is Likely To Prevail On His Claim For Mandatory AdvancementOf Defense Costs Relating To The State Charges. ........................................................9
1.
As Expressly Permitted Under Delaware Law, GoldmanSachs’s By-Laws Unequivocally Provide For MandatoryAdvancement Of Defense Costs. .................................................................... 10
2.
The Charges Against Aleynikov Were Brought “By Reason Of The Fact” That He Was A Goldman Sachs Officer. ....................................... 13
3.
A Court Considering An Advancement Application Will NotInquire Into The Merits Of The Underlying Action. ...................................... 16
4.
Aleynikov Has Provided Goldman Sachs With The NecessaryUndertaking To Repay Advanced Fees If It Is UltimatelyDetermined That He Is Not Entitled To Indemnification OnThe State Charges. .......................................................................................... 17
C.
Aleynikov Will Suffer Irreparable Harm Absent Preliminary Injunctive Relief. ........18
D.
Requiring Goldman Sachs To Advance Aleynikov’s Defense Costs InAccordance With Its Contractual And Statutory Obligations Will Not HarmGoldman Sachs. ...........................................................................................................19
E.
The Public Interest Favors The Issuance Of A Preliminary Injunction. ......................20
II.
ALEYNIKOV IS ENTITLED TO SUMMARY JUDGMENT ON HIS CLAIMSFOR INDEMNIFICATION AND ADVANCEMENT. ....................................................22
A.
Legal Standard .............................................................................................................22
B.
There Is No Genuine Issue Of Material Fact That Would Limit Or DelayGoldman Sachs’s Obligation To Indemnify Aleynikov For Defense CostsIncurred To Defend The Federal Charges Because He Succeeded In HavingThose Charges Dismissed. ...........................................................................................24
 
 iiC.
There Is No Genuine Issue Of Material Fact That Would Limit Or DelayGoldman Sachs’s Obligation To Advance Aleynikov The Reasonable Fees ToDefend Against The State Charges. .............................................................................29
III.
ALEYNIKOV IS ENTITLED TO THE REASONABLE FEES AND EXPENSES(“FEES ON FEES”) INCURRED TO COMPEL GOLDMAN SACHS TOHONOR ITS ADVANCEMENT AND INDEMNIFICATION OBLIGATIONS,AND TO PREJUDGMENT INTEREST. ..........................................................................29
A.
Fees on Fees .................................................................................................................29
B.
Prejudgment Interest ....................................................................................................30
CONCLUSION ..............................................................................................................................33
 

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