Richard G. Placey

Partner

302-504-7880

rplacey@mmwr.com

Philadelphia, Cherry Hill, Wilmington

Richard G. Placey is a partner in the Litigation Department of Montgomery McCracken. He concentrates his practice on complex financial, bankruptcy and business litigation. He actively practices before the Delaware, New Jersey and Pennsylvania courts, administrative agencies and arbitration tribunals.

Richard has extensive experience resolving complex financial and business disputes on favorable terms for clients, whether by settlement or judgment. Since 1982 he has represented businesses and educational institutions, their professionals, and their officers and directors in financial, business, professional liability, bankruptcy, sports injury, and product liability disputes.

Richard received his J.D. from the University of Chicago Law School in 1982, and his B.A. from La Salle University, maxima cum laude, in 1979.

RELATED Practices

Business Litigation

Montgomery McCracken’s Business Litigation Practice represents corporations and unincorporated business entities, their officers, directors, partners and managers, their financial advisors, and their shareholders and creditors in a wide array of […]

Learn more about our Business Litigation Practice

Catastrophic Sports Injury and Defense

Montgomery McCracken’s Catastrophic Sports Injury Defense Practice has a national reputation for its successful representations of colleges, universities, and health care professionals in high-exposure sports-injury cases. We have achieved favorable results […]

Learn more about our Catastrophic Sports Injury Defense Practice

Litigation

Montgomery McCracken’s Litigation Department offers a deep bench of skilled and experienced litigators whose practice areas encompass a broad array of industries and substantive legal disciplines.  Our clients include individuals, […]

Learn more about our Litigation Department

Business

Montgomery McCracken’s Business Department works proactively and collaboratively with our clients to advise on the full array of corporate and business issues, ranging from finance and regulatory matters to mergers […]

Learn more about our Business Department

Bankruptcy and Financial Restructuring

The attorneys in Montgomery McCracken’s Bankruptcy and Financial Restructuring Department assist clients in all aspects of restructuring, including bankruptcies, out-of-court restructurings, reorganizations, liquidations, workouts, debt refinancings, adversary proceedings, and contested […]

Learn more about our Bankruptcy and Financial Restructuring Department

1 of 5

Credentials

Selected Representations

Professionals – Represents business and financial professionals in individual actions and class actions asserting both common law and securities claims. Also represents professionals before administrative agencies and industry self-regulatory agencies, including the U.S. Securities and Exchange Commission, state licensing boards (e.g., State Board(s) of Accountancy and similar boards in other professions) and the American Institute of Certified Public Accountants. He recently favorably resolved a claim against a professional and his firm arising out of their work as an expert witness, and successfully resolved professional licensing investigations in Pennsylvania and Delaware. Reported cases of this type in which Richard has participated include:

  • Obtained the dismissal of claims asserted against the client, and affirmance of that dismissal on appeal, in Pelullo v. Nat’l Union Fire Ins. Co., 2004 WL 1102782 (E.D.Pa. 2004), aff’d, 131 Fed.Appx. 864 (3d Cir. 2005)
  • Obtained a favorable settlement of claims asserted against the client in McKowan, Lowe & Co. v. Jasmine, Ltd., 295 F.3d 380 (3d Cir. 2002), cert. denied, 537 U.S. 1088 (2002), later proceeding 2005 WL 1541062 (D.N.J. 2005)
  • Obtained the dismissal of claims against the client in Pelullo v. Kerr, Russell & Weber, 1998 U.S. Dist. LEXIS 17371 (E.D.Pa. 1998), appeal dismissed, No. 98-2115 (3d Cir.)
  • Successfully resolved claims, brought in both federal court and in the Commonwealth Court of Pennsylvania, against the auditors of a large insurer that was placed in rehabilitation by the Pennsylvania Insurance Department.

Complex Transactions – Represents both buyers and sellers of businesses in disputes over stock or asset purchase agreements, as well as in disputes over the sale of individual assets. He recently obtained summary judgment for the buyer of an industrial manufacturing business in a dispute over the stock purchase agreement, obtained summary judgment for the seller of a commercial building in a dispute with the buyer, and favorably settled a dispute over indemnification obligations arising from the sale of a clothing manufacturing business. Reported cases of this type in which Richard has participated include:

  • Obtained a money judgment in favor of the client and dismissal of the claims against the client in Pirito v. Penn Engineering World Holdings, 947 F.Supp.2d 489 (E.D.Pa. 2013) and 833 F.Supp.2d 455 (E.D.Pa. 2011)
  • Obtained summary judgment in favor of the client and affirmance of that judgment on appeal in Zaken v. Camden Gateway, LLC, 2011 WL 4974768 (N.J.Super.App. Div. 2011)
  • Obtained the dismissal of indemnification claims against the client in Certainteed Corp. v. Celotex Corp., 2005 WL 217032 (Del. Chancery 2005)
  • Obtained judgment for the client after trial of a case involving the sale of a Citation business jet in Aircraft Guar. Corp. v. Strato-Lift, Inc., 103 F.Supp.2d 830 (E.D.Pa. 2000)

Bankruptcy – Primarily represents creditors in asserting and recovering claims against business debtors and in defending against claims by the debtor, and represents buyers acquiring assets or businesses from a debtor. In 2015, he obtained confirmation of a Chapter 11 plan for three maritime bunker fueling companies. He also recently obtained a set-aside from a sale of a manufacturing debtor’s assets to fund recovery on a disputed lien, settled disputes over several debtors’ obligations to pay clients on a priority basis and assisted a client with a multi-buyer acquisition of operating businesses from a debtor. Reported cases of this type in which Richard has participated include:

Business, Sports Injury and Product Liability Disputes – Represents both plaintiffs and defendants in a wide variety of other business disputes. In sports injury and product liability disputes, he primarily represents defendants; in early 2016 he favorably resolved litigation against a private school and its coaches involving a claimed catastrophic football injury and he successfully defended a national university in a case involving the death of a student athlete from claimed sports-related brain injuries. He represents parties in disputes involving:

  • financial transactions
  • sports injuries
  • leases
  • royalties
  • financial reporting
  • shareholder/officer/director claims
  • franchisor/franchisee matters
  • breaches of contract
  • breaches of representations/warranties
  • product liability with a focus on pharmaceuticals
  • and/or commercial fraud

Reported cases of this type in which Richard has participated include:

  • Winklevoss Capital Fund, LLC v. Shaw, 2019 WL 994534 (Del. Ch. 2019) (investment matter)
  • Shores v. American Medical Systems, Inc., 2010 WL 5551696 (Del. Super. 2010) (forum non conveniens)
  • Hodgson v. Kottke Associates, LLC, 2008 WL 2405723 (E.D.Pa. 2008) (CFTC receivership)
  • Clark v. Pfizer Inc., 2004 WL 1970138 (E.D.Pa. 2004) (pharmaceutical product liability class action)
  • In re Loewen Group, Inc. Securities Litigation, 2001 WL 530544 (E.D.Pa. 2001) (bankruptcy aspects of officer liability)
  • Quinn v. Wilmington Trust Co., 1992 WL 382338 (E.D.Pa. 1992) (lender liability)
Selected Publications
Honors & Awards
  • Martindale-Hubbell® AV Pre-eminent rating

No aspect of these advertisements has been approved by the highest court of any state. 

Professional Activities
  • Delaware State Bar Association
  • Eastern District of Pennsylvania Bankruptcy Conference
  • Certified mediator in the United States Bankruptcy Court for the Eastern District of Pennsylvania
  • Pro-bono attorney, Widener Law School Veterans Law Clinic
Education

Law School

  • The University of Chicago Law School

Undergraduate School

  • LaSalle University