Samuel L.Walling (Sam)

Partner

Minneapolis + 1.612.217.8871

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).

Experience

  • U.S. Bank prevails on summary judgment in case alleging hundreds of millions of dollars in losses relating to residential mortgage-backed securitiesJones Day secured summary judgment on behalf of U.S. Bank National Association in a lawsuit seeking hundreds of millions of dollars in alleged losses concerning investments in certificates issued by residential mortgage-backed securities trusts for which U.S. Bank served as trustee.
  • U.S. Bank defeats class certification in putative class action alleging billions in class-wide losses in connection with residential mortgage backed securitiesJones Day represented U.S. Bank N.A. in a putative class action seeking billions of dollars in alleged class-wide losses in connection with investments in notes issued by 25 residential mortgage backed securities trusts for which U.S. Bank served as trustee.
  • SURE-FIRE invalidates patent relating to power cord technologyJones Day successfully represented SURE-FIRE Electrical Corporation on appeal in a patent litigation against Yongjiang Yin and Shenzen El Lighting Co. Ltd. relating to power cord technology.
  • 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.

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