Jim practices extensively in the area of commercial litigation and arbitration, and regularly represents business and individual clients in professional liability matters, in the areas of financial services, commercial real estate, construction and development, distribution, and professional service businesses. He has tried numerous cases involving contractual, intra-corporate and partnership issues, business torts, director and officer liability, securities, and creditors' rights claims.
Jim has successfully handled disputes at each level of state and federal court in Virginia, as well as a number of neighboring jurisdictions. His litigation practice includes significant appellate work, representing the prevailing party in his last four (4) arguments before the Supreme Court of Virginia. He has extensive experience in arbitration and mediation before a variety of sponsoring and self-regulatory organizations.
His practice includes particular expertise in investment and financial services matters, including customer claims, enforcement and regulatory matters, and he has appeared in or managed over 100 arbitrations.
Mr. Cosby also regularly advises clients in non-competition issues, including trade and sales practices, recruiting and employment. Such areas include covenants not to compete, non-solicitation, non-disclosure, trade secret, "garden leave" and other employment agreements and restrictive covenants, "raiding" and "inevitable disclosure" claims, common-law fiduciary issues, and trade secret and trade mark matters.
Professional & Community Activities
· Board of Directors, University of Richmond Law School Association
· Adjunct Professor of Law, T. C. Williams School of Law, University of Richmond
· John Marshall American Inn of Court, Executive Committee
· Bar Association of the City of Richmond (Director; Co-Chair, Metropolitan Richmond Bench-Bar Conference); Virginia and American Bar Associations
· Securities Industry and Financial Markets Association (SIFMA), Compliance and Legal Division
· Vice Chairman, Richmond Fisher House Foundation
· Leadership Metro Richmond (LMR), Class of 2009
· Panel of Arbitrators, Financial Industry Regulatory Authority (FINRA)
· Former Trustee, The Richmond Ballet
· Reserve Officer, U.S. Army, 1982-1994
Notable Accomplishments
· AV® rated by the Martindale Hubbell Law Directory
· Regularly listed as one of Virginia's "Legal Elite" by Virginia Business Magazine
· Virginia "Super Lawyer", Law and Politics Publications
Representative Matters
2011:
· Represented prevailing party in extended litigation concerning landmark estate and resulting judicial sale. Continued representation in appeals before the Supreme Court of Virginia, prevailing in each appeal. Presented argument for additional intervening party, which also prevailed.
· Defended national investment firm and other insureds against claims from the sale of non-traded REIT, tenant-in-common, and debenture securities, resulting in settlement for less than 2% of cost basis.
· Represented National Wealth Management firm in FINRA arbitration against customer claims involving closed-end funds and master limited partnerships. Prevailed on all claims by successfully arguing motions to dismiss all claims at the close of the claimant's evidence.
· Represented majority owner of regional residential developer, defeating derivative and other claims in state court.
· Represented corporation and its president in enforcement proceeding brought by the Virginia State Corporation Commission, alleging numerous securities violations. Following a week-long trial, clients prevailed on all charges, with findings upheld after review by the full Commission.
· Represented Fortune 100 Bank in separate cases involving employment and business tort claims in U. S. District Court.
· Represented investment advisory firm in numerous arbitrations arising from sale of non-traded REIT interests.
2010:
· Represented National Wealth Management Firm against customer claims asserting securities violations and fiduciary claims, obtaining settlement or prevailing on the merits in each.
· Prevailed in state court on behalf of NYSE- listed propane distributor on public contract claims against county government.
· Represented co-owner of real estate holding company, defeating claims seeking corporate dissolution, and successfully prosecuting client's statutory right to acquire protesting party's interest. Prevailed against attempts to dismiss the mandatory buy-out, obtained settlement, and prevailed in state court on claims for breach of settlement provisions.
2009:
· Defended National Brokerage and Wealth Management firm in South Carolina state court, and in arbitration, obtaining dismissal of all claims.
· Represented business owners in claims arising from the marketing and sale of illegal tax avoidance strategies utilizing foreign currency trading, obtaining full reimbursement in excess of $1 Million.
· Defended regional beverage distributor against claims asserted by former executive in excess of $3 Million, prevailing in pre-trial rulings leading to settlement of claims and redemption of stock.
· Represented national office products distributor in successful appeal and reversal of a prior decertification as a Virginia Women or Minority-Owned business by Va. Dept. of Minority Enterprise.
· Represented Fortune 50 Banking and Financial Services corporation in the hiring of senior investment management personnel.
· Prevailed on behalf of Fortune 50 Bank and senior managers against claims in U. S. District Court alleging breach of fiduciary duty, misappropriation, conversion and conspiracy, obtaining dismissal of all counts following evidentiary hearings.
2008:
· Obtained judicial dissolution of residential real estate brokerage, including wind-down of operating entity and branches, and redemption of related LLC interests.
· Represented national brokerage firm against claims sounding in tort, mismanagement and securities fraud, seeking damages of over $1.5M, and obtaining settlement after extended mediation for approximately 25% of direct investment losses only.
· Retained to counsel national financial services firm in hiring of various registered and management personnel in markets in the mid-atlantic region.
· Represented regional beverage distributor in termination of major vendor contract providing inventory management systems, obtained judgment against vendor in full amount of all claims.
· Represented developer and franchisee of national branded hotels in major termination claims by general contractor and subcontractors.
· Acted as local counsel to global wealth management firm in SCC Enforcement Action, resulting in appropriate settlement following extended negotiations and discovery proceedings.
· Represented commercial developer as lead counsel in lawsuit seeking enforcement of rights under negotiated joint development agreement regarding municipal waste water transfer facility and related building pad sites, prevailing on all claims.
· Representation and settlement of claims against corporate officer and director in Adversary Proceedings in U. S. Bankruptcy Court, regarding claims of fraud, deepening insolvency, and other issues.
(Resident Partner, Richmond Office)