Sam Walling is a seasoned litigator who, for more than a decade, has represented major corporations and financial institutions in highly complex commercial litigation and risk mitigation projects. His recent representations include defending a residential mortgage-backed securities (RMBS) trustee in numerous class actions and investor lawsuits involving billions of dollars in claims related to RMBS, collateralized debt obligations (CDOs), and special purpose vehicles (SPVs) and helping national financial institutions plan for the cessation of LIBOR at the end of 2021. In these representations and others, Sam has developed case strategy, led large case teams, deposed high-level executives, prepared expert reports, and drafted and argued substantive motions and appeals in federal, state, and appellate courts across the country.
Prior to joining Jones Day in 2017, Sam represented numerous corporations as plaintiffs in high-stakes patent and securities law matters, obtaining hundreds of millions of dollars in settlements. As a result, Sam can readily see things from the other side and can strategize accordingly when defending similar matters in his current practice.
In every representation, Sam provides solid and practical legal advice to clients that takes into account their business objectives and market and litigation realities. He believes that meticulous preparation provides the best chance at controlling the process and achieving the desired objectives for clients.
Sam is an Associate Fellow of the Litigation Council of America (LCA) and a member of the Structured Finance Association (SFA), including its LIBOR Task Force. He is also a director of the Twin Cities German Immersion School Building Company and a member of the Minnesota Chapter of the Federal Bar Association (FBA).
The following represents experience acquired prior to joining Jones Day.
Represented the Federal Home Loan Bank of Pittsburgh in securities cases involving more than $2.8 billion in residential mortgage-backed securities against JPMorgan, Countrywide, Lehman Brothers, Standard & Poor’s, Moody’s, and Fitch. The cases included Section 11, Section 12, and common law fraud claims, which required loan sampling and re-underwriting, rating agency model analysis, and statistical damages projections. All cases were successfully resolved before trial.
Represented Advanced Micro Devices in a patent infringement case against Samsung Electronics. The case involved six AMD patents covering circuit-level and transistor-level semiconductor design and fabrication technologies, which required hours of native circuit schematic review and cutting-edge nanoscale analysis using SEM and TEM imaging. After nearly three years of litigation and two rounds of mediation, Samsung agreed to pay AMD $283 million to resolve all claims.
Represented Best Buy in numerous patent infringement cases involving e-commerce web design, AC/DC power adapters, DSPs, mobile apps, and Bluetooth, in which many of the cases were resolved through royalty-free stipulated dismissals.
Represented Rembrandt Vision Technologies through trial and appeal in a patent infringement case involving silicone-hydrogel contact lens technology.
Resolved two product liability defense matters in which the plaintiffs alleged that the manufacturer's switch had failed, resulting in electrocution and in permanently disabling injuries.
Ripple and Terraform Labs: Two New York District Courts Address the Status of Certain Crypto Assets as Securities
Digital Assets Defined: Federal Agencies Weigh Response to President Biden's Executive Order on Digital Assets
- University of Minnesota (J.D. magna cum laude 2006); St. Olaf College (B.A. in Economics cum laude 2000)
- Minnesota, U.S. District Courts for Minnesota and Colorado, and U.S. Courts of Appeals for the District of Columbia and Federal Circuits
- Named a "North Star Lawyer" by the Minnesota State Bar Association for providing at least 50 hours of pro bono legal services annually (2013-2016)
- Law Clerk to Judge Harriet Lansing, Minnesota Court of Appeals (2006-2007); Judicial Extern to Judge John R. Tunheim, U.S. District Court, District of Minnesota (2005)