ShimshonBalanson (Shim)

Partner

(T) 1.216.586.7151

Shimshon Balanson represents some of the world's largest financial institutions in commercial litigation. He has represented clients in significant cases involving complex financial products, such as mortgage-backed securities and collateralized debt obligations. He also has experience representing clients in consumer finance and securities-related litigation, as well as regulatory agency investigations.

Shimshon's recent representations include a financial institution trustee in a class action and several other significant cases brought by investors in mortgage-backed securities, a public accounting client in multiple litigations and a regulatory investigation relating to its attest work for a failed commercial mortgage lender, Macy's in litigation against Martha Stewart Living Omnimedia and J. C. Penney, and a financial institution client in a class action concerning the manner in which it assesses its checking account overdraft fees.

Shimshon also has dedicated time to pro bono matters. He is currently representing clients seeking Holocaust reparations as part of Jones Day Cleveland's partnership with Bet Tzedek Legal Services. In addition, he recently participated in a collaboration with the New York-based Innocence Project that led to the award of a new trial for an Ohio man convicted of murder in 2001. Shimshon also serves as a YP Ambassador for BVU: The Center for Nonprofit Excellence.

From 2013 through the summer of 2017, Shimshon was editor of the climate change litigation section of Jones Day's quarterly electronic climate change advisory, The Climate Report.

Experience

U.S. Bank defeats class certification in putative class action alleging billions in classwide losses in connection with residential mortgage backed securities
Jones Day represented U.S. Bank in a putative class action seeking billions of dollars in alleged classwide losses in connection with investments in notes issued by 25 residential mortgage backed securities trusts for which U.S. Bank served as trustee.

Cliffs Natural Resources prevails in bondholder class action
Jones Day represented Cliffs Natural Resources Inc. in a bondholder class action challenging a voluntary debt exchange offer that Cliffs Natural Resources conducted in early 2016.

CBIZ and Mayer Hoffman McCann obtain Ninth Circuit affirmance of dismissal of $900 million lawsuit
On February 23, 2015, the United States Court of Appeals for the Ninth Circuit ruled in favor of Jones Day clients CBIZ, Inc. and Mayer Hoffman McCann P.C. in a case filed on behalf of a putative class of investors alleging $900 million in losses from the collapse of Mortgages Ltd., a commercial real estate lender.

RBS Citizens and Citizens Bank of Pennsylvania defend against putative class action with respect to check processing practices
Jones Day represents RBS Citizens, N.A. and Citizens Bank of Pennsylvania ("Citizens"), which are the U.S. banking operations of RBS Group plc, in a putative class action alleging, among other things, that Citizens' check processing practices are in breach of Citizens' customer account agreements and amount to unfair and deceptive trade practices under the laws of certain of the 12 states in which Citizens operates.

Macy's prevails at trial against J.C. Penney for tortiously interfering with Macy's contract with Martha Stewart Living Omnimedia
On June 16, 2014, the Supreme Court of the State of New York granted Jones Day client Macy's, Inc. a complete victory, after trial, against J.C. Penney Corporation, Inc. for tortious interference with a license agreement between a Macy’s affiliate and Martha Stewart Living Omnimedia, Inc. ("MSLO").

SiriusXM Radio resolves antitrust class action litigation related to 2008 merger
Jones Day defended Sirius XM Radio Inc. against a class action, treble damages lawsuit filed by satellite radio subscribers, claiming that the 2008 merger of satellite radio providers Sirius and XM violated the antitrust laws and that after the merger the company had imposed certain allegedly anticompetitive price increases.

Ethyl defends against environmental litigation seeking $38 million for alleged PCB contamination at former property
On behalf of Ethyl Corporation, Jones Day is handling the defense of a large environmental property damage case filed under, among other things, the Resource Conservation and Recovery Act (RCRA), CERCLA, and common law, seeking recovery in excess of $38 million for alleged PCB contamination at a property formerly owned by Ethyl.

Additional Publications

  • 2009Note, Holding Nature Responsible: The Natural Conditions Exception to Water Quality Standards of the Clean Water Act. 56 Clev. St. L. Rev. 1057
  • 2005Aquatic Macrophyte Diversity and Habitat Characterization of the Cuyahoga River Watershed in Northeastern Ohio, coauthor, 105 Ohio J. of Sci. 88
  • 2005Invasive Species and Aquatic Macrophyte Diversity in the Cuyahoga, coauthor
  • 2005Macrophytes as biomonitors of trace metals, coauthor, Water Encyclopedia: Water Quality and Resource Development 64
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