KENNETH P. HELD
Partner
Tel: 713.255.4107
Fax: 713.357.5160
kheld@sohjlaw.com Download vCard Download BioKenneth’s principal areas of practice are business litigation and arbitration, with a focus on securities litigation, energy litigation, and class action defense. He represents litigants in state and federal courts, as well as in arbitration and regulatory enforcement matters. His clients range from individuals to publicly traded and privately held companies, as well as private equity firms and hedge funds. Each year since 2007, Kenneth has been recognized as a leader in securities litigation law by Chambers USA: America’s Leading Business Lawyers, in which a client described him as “terrific, extremely bright and talented.”
A member of both the New York and Texas state bars, Kenneth spends a significant amount of his time representing financial industry clients in securities litigation and other matters. He defends corporate clients against shareholder derivative actions and consumer and shareholder class action suits. Kenneth has obtained the dismissal of numerous securities fraud class actions at the pleadings stage. He has successfully defended securities clients in stock drop securities fraud class actions (including 10b-5 and Section 11 cases), merger challenge lawsuits, fiduciary duty litigation, ERISA stock drop class actions, and insider trading investigations.
In the energy arena, Kenneth has represented both plaintiffs/claimants and defendants/respondents in price reopener disputes, long-term gas supply contract disputes, crude oil quality disputes, joint operating agreement disputes, and purchase agreement price disputes. He also has substantial experience in consumer class action defense and a variety of other class action matters.
Before joining Schiffer Odom Hicks and Johnson PLLC, Kenneth was a litigation partner at Vinson & Elkins LLP, where he served as co-head of its Securities Litigation and Enforcement practice group. Prior to that he practiced law in New York and served as Judicial Clerk to The Honorable Milton Pollack, U.S. District Court for the Southern District of New York from 1993 – 1994.
HONORS/AWARDS/RECOGNITIONS:
Texas Super Lawyers 2013 – 2015
Chambers USA: America’s Leading Business Lawyers in securities litigation law,
2007 – 2015
Euromoney’s Benchmark Litigation, recognized as a Future Litigation Star, 2009,
2010 and 2012
PROFESSIONAL AFFILIATIONS:
American Bar Association, ABA Litigation Section member and Class Action and
Derivative Suits Committee member
Houston Bar Association, member
Texas Bar Foundation, Fellow
REPRESENTATIVE MATTERS:
SECURITIES AND DERIVATIVE LITIGATION:
Section 10(b) and Section 11 Stock Drop Actions
CASE CITATIONS:
- Gerber v. Enterprise Products Holdings, LLC, 2012 WL 34442 (Del. Ch. Jan. 6, 2012) reversed, 67 A.3d 400 (Del. 2013).
- Northumberland County Retirement System v. GMX Resources, Inc., 810 F. Supp.2d 1282 (W.D. Okla. 2011) and 2013 WL 5230000 (W.D. Okla. Sept. 16, 2013).
- Davis v. Duncan Energy Partners L.P., 801 F. Supp.2d 589 (S.D. Tex. 2011).
- Lonergan v. EPE Holdings LLC, et al., 5 A.3d 1008 (Del. Ch. 2010).
- Rines v. Heelys, Inc., 2009 WL 5196519 (N.D. Tex. Nov. 17, 2009).
- Pfeffer v. Redstone, et al, 2008 WL 308450 (Del. Ch. Feb. 1, 2008).
- Congregation Ezra Sholom v. Blockbuster Inc., et al, 504 F. Supp.2d 151 (N.D. Tex. 2007).
- Halaris v. Viacom, Inc., 2008 WL 3855044 (N.D. Tex. Aug. 19, 2008).
- Connolly v. Gasmire, et al., 257 S.W.3d 831 (Tex. App. – Dallas, July 2, 2008).
- Hanson v. Odyssey Healthcare, Inc., 2007 WL 5186795 (N.D. Tex. Sept. 21, 2007).
- In re Seitel, Inc. Securities Litigation, 245 F.R.D. 263 (S.D. Tex. 2007).
- In re: Odyssey Healthcare, Inc. Securities Litig., 424 F. Supp.2d 880 (N.D. Tex. 2005) and 2006 WL 826467 (N.D. Tex. 2006).
- In re Carreker Corporation Securities Litig., No. 3:03-CV-0250-M (N.D. Tex. Mar. 29, 2005).
- In re: Blockbuster Inc. Securities Litig., Fed. Sec. L. Rep. ¶92,806 (N.D. Tex. 2004).
ENERGY LITIGATION AND ARBITRATION:
- Obtained jury verdict for offshore drilling company in lawsuit to recover unpaid joint interest billings. Verdict upheld on appeal.
- On behalf of a Canadian crude oil trading company, prevailed in a New York arbitration to recover payments due for two cargoes of Canadian mixed sweet crude oil that our client sold to another trading company. The panel ruled that cargoes met contractual specifications and awarded damages and attorneys’ fees of $3.8 million to our client.
- Represented an energy trading and marketing firm in a price-reopener dispute under a long-term gas supply contract with an electrical cooperative in an American Arbitration Association proceeding. Shortly before the hearing, the dispute was settled with a favorable price adjustment for our client.
- Represented a chemical pipeline manufacturer in bankruptcy proceedings in which the debtor/lessor sought to recharacterize a pipeline lease agreement as an unsecured sale of pipeline. The case settled favorably for our client.
- On behalf of private equity fund portfolio company, prevailed in a Canadian arbitration to recover the disputed amount of purchase price paid for natural gas storage facilities. The arbitrator found that the gas remaining in the facility was cushion gas (not working gas) for which our client should have been required to pay an additional purchase price amount and awarded our client $17.7 million. Respondent’s appeal of the award was denied by the Court of Queen’s Bench of Alberta.
- In a Canadian arbitration, obtained a liability finding in favor of a gas and power trading and marketing company against a major oil producer for wrongful termination of a gas supply contract, with damages exceeding $80 million to be determined in a second phase of the bifurcated arbitration. The case settled favorably after a hearing on damages.
CASE CITATIONS:
- Kilgore Exploration, Inc. v. Apache Corporation, 2015 WL 505275 (Tex. App. — Houston [1st] 2015).
- In re: Astra Energy Canada, Inc. and Glencore Ltd., SMA No. 4109, 2010 WL 5866007 (Society of Maritime Arbitrators, Dec. 22, 2010).
- In re Bigler, LP, 2011 WL 3809975 (Bankr. S.D. Tex. Aug. 18, 2011).
- Alenco Inc. v. Niska Gas Storage US, LLC, 2009 ABQB 192 (Court of Queen’s Bench of Alberta 2009).
- Represented Heelys, Inc. in a securities class action, derivative actions, and individual shareholder lawsuits arising from drop in stock price after IPO; the cases were settled to the client’s satisfaction.
- Defeated class certification in securities fraud action asserted against a Big-Four accounting firm based on the plaintiffs’ inability to demonstrate a fraud-on-the-market classwide presumption of reliance.
Master Limited Partnership (MLP) Litigation
- Represented MLPs and their affiliates in various unitholder litigation, including challenges to interested party transactions, governance issues, and merger challenges.
- Obtained dismissal of claims asserted in Delaware against a publicly traded general partner of a gas and crude oil processing and transportation MLP and certain of its directors regarding its sale of certain assets to the MLP and the subsequent merger of the general partner with the MLP.
- In a separate Delaware litigation, defeated a motion to expedite proceedings seeking to enjoin the MLP’s acquisition of its general partner. The merger closed after the plaintiffs voluntarily dismissed their claims.
- Represented MLP as nominal defendant in unitholder derivative action challenging drop down transaction.
Merger Challenge Litigation
- Represented both acquirors and targets in investor actions challenging mergers.
- On behalf of the conflicts and governance committee of a publicly traded MLP, defeated a motion to expedite Texas litigation seeking to enjoin the MLP’s $2.5 billion acquisition by its majority unitholder; the merger closed, and plaintiffs subsequently withdrew their claims.
- Represented a subsea pipeline company and its officers and directors in Texas and Louisiana state and federal courts challenging the company’s acquisition for $1 billion. The case settled on satisfactory terms that allowed the merger to close.
SEC Investigations
- Represented numerous individuals in various insider trading and accounting fraud SEC investigations, many of which were terminated with no action taken against our clients.
Shareholder Oppression and Investor Disputes
- Defended private equity fund and related entities in shareholder oppression lawsuit related to acquisition and management of banks. After significant pre-trial motion practice and prior to commencement of depositions, plaintiffs voluntarily dismissed all claims.
- Represented founder of business consulting firm in “business divorce” and theft of trade secrets case against partner. Case settled favorably for client.
CLASS ACTION DEFENSE:
- On behalf of website domain parking companies, obtained dismissal of RICO claims and defeated class action certification of putative nationwide class of trademark and common law mark owners alleging RICO violations, cybersquatting, trademark infringement and related claims.
- Defeated class certification of numerous putative nationwide consumer class actions, including: (1) Kansas federal court action alleging consumer fraud and negligent automotive maintenance services against national chain of automotive service providers; (2) Arkansas state court action alleging consumer fraud against a national chain of automotive service providers.
- Obtained favorable settlements of consumer class actions, including: (1) nationwide consumer class action and related cases challenging add-on fees charged by a national chain of automotive service providers (settlement was affirmed on appeal filed by objectors); and (2) Kentucky county-wide class actions alleging improper pass-through of property taxes on cable television bills.
CASE CITATIONS:
- Vulcan Golf, LLC v. Google, Inc., et al., 254 F.R.D. 521 (N.D. Ill. 2008), 552 F. Supp.2d 752 (N.D. Ill. 2008), and 2008 WL 2959951, (N.D. Ill. July 31, 2008).
- Thompson v. Jiffy Lube International, Inc., 250 F.R.D 607 (D. Kan. 2008) and 505 F. Supp.2d 907 (D. Kan. 2007).
- Stephani Bayhylle v. Jiffy Lube International, Inc., 146 P.3d 856 (Okla. App. 2006).
OTHER LITIGATION:
- Represented commercial borrower in litigation arising from unpaid commercial loan.
- Represented a food-service industry franchisee in an AAA arbitration against its franchisor. Obtained a favorable settlement for our clients.
- Represented a British bank, protecting its security interest in securitized assets in bankruptcy proceedings, which enabled the bank to obtain full repayment of its loans.
- Obtained an injunction for a sports equipment manufacturer to prevent a former corporate officer from misappropriating trade secrets.
CASE CITATIONS:
- Krispy Kreme Doughnuts Corp. v. Lone Star Doughnuts Ltd., 2006 WL 561520 (Tex. App. – Houston [14th Dist.] 2006).
- Cerberus Partners, L. P. v. Gadsby & Hannah, 728 A.2d 1057 (R.I. 1999).
- Cerberus Partners, L. P. v. Gadsby & Hannah, 976 F. Supp. 119 (D. R.I. 1997)
PRACTICE AREAS:
Commercial Arbitration
Commercial Litigation
Energy Litigationv
Securities and Derivative Litigation
EDUCATION:
Yale Law School, J.D., 1993
Honors:
Senior Editor, The Yale Law Journal, August 1991 – June 1993
Coker Fellow, teaching assistant, in Civil Procedure, fall 1992
Cornell University, B.A., English, cum laude, 1990
Honors:
Phi Beta Kappa
BAR ADMISSIONS:
New York
Texas
COURT ADMISSIONS:
United States Court of Appeals for the Fifth Circuit
United States Court of Appeals for the Tenth Circuit
United States District Court for the Eastern and Southern Districts of New York
United States District Court for the Eastern, Northern, Southern and Western Districts of Texas
Domestic & International Reach
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SOHJ U.S. Offices
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Houston, TX 77002
Tel: 713.357.5150
Fax: 713.357.5160
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