Dentons U.S. LLP
Reid Ashinoff founded and served for 22 years as the legacy Chair of the Litigation and Arbitration practice in the New York office of Dentons, and serves as one of the Chairs of the firm’s Class Action/Major Financial Litigation practice. Reid served for 11 years on the firm's Policy and Planning (Management) Committee. Reid's practice over the past 40 years has focused on complex commercial crises and litigation challenges. He has wide-ranging experience counseling corporate boards, counsel and senior management, and has represented clients in trial and appellate courts, in arbitrations, and before regulatory agencies throughout the United States. Reid is also an AAA arbitrator for large complex commercial matters.
Reid has been named each year as a leading trial lawyer nationally and in New York, based on peer and client evaluations, by Chambers USA: America’s Leading Lawyers for Business, the highly respected independent attorney rating organization. Representative client and peer evaluations include:
From 1995 through 2003, Reid served as national coordinating counsel and chief trial counsel for The Prudential Insurance Company of America in handling nationwide litigation and regulatory challenges to its life insurance and securities sales practices. Reid counseled Prudential’s board of directors and senior management, structured and negotiated an acceptable, nationwide settlement for Prudential with dozens of plaintiffs’ class action attorneys and regulators in all 50 states, and successfully litigated approval of the class certification and settlement by the federal district court and the United States Third Circuit Court of Appeals. Reid also directed and coordinated the work of attorneys in six SNR Denton offices and at twenty other law firms throughout the United States. During the same period, he successfully defended Prudential against unwanted class action certification attempts in several state courts and against numerous challenges by discharged employees claiming “whistleblower” status.
In February 2002, Reid, serving as lead trial counsel, won a complete defense verdict after a two-month-long jury trial in Miami federal district court, where numerous plaintiffs were seeking billions of dollars from Prudential for its allegedly fraudulent sales practices. The victory was selected by the National Law Journal as the Defense Win of the Month.
Was lead counsel in successfully dismissing a putative Kansas-wide class action alleging that Transamerica Life Insurance Company issued long-term care insurance policies using flawed actuarial assumptions and thereafter shifted these "known actuarial defects" to the policyholders through multiple premium increases. The Kansas federal district court dismissed the complaint in its entirety, which alleged fraud, breach of contract, unjust enrichment and other similar state law claims, as barred by the filed rate doctrine, which generally holds that a filed rate is per se reasonable and unassailable in lawsuits brought by a taxpayer.
In 2010 through 2012, Mr. Ashinoff led a team in
During 2006-2009, in a putative 150,000-person nationwide class action, Reid successfully represented AEGON’s long-term care division, Life Investors Insurance Company of America, in a major victory in the U.S. District Court for the Northern District of Iowa. Reid and his team won a summary judgment dismissal with prejudice of the plaintiffs' entire case, dismissing the plaintiffs' fraud, constructive fraud and bad faith claims, which alleged that Life Investors fraudulently and defectively underpriced its long-term care insurance policies during the 1990s (reported as Rakes v. Life Investors Ins. Co. of America, 2008 WL 2518717 (N.D.Iowa)). In 2009, the summary judgment dismissal was upheld unanimously by the U.S. Eighth Circuit Court of Appeals, 582 F.3d 886, where Reid presented oral argument. The same plaintiffs' counsel had previously defeated summary judgment and had obtained class certification against several other insurers represented by different defense counsel.
Reid successfully represented Medis Technologies, Ltd., and related defendants in a securities fraud class action in the U.S. District Court for the Southern District of New York. The suit alleged misleading statements concerning sales of Medis’ power source products. Medis argued that under the Tellabs standard, which requires the court to consider