Cozen O’Connor, among the 100 largest U.S. law firms, announced today that it successfully represented the affiliated companies that comprise Full Tilt Poker in a three-way transaction with PokerStars and the United States Department of Justice. The agreement, which was approved by the United States District Court for the Southern District of New York today, resolves the civil forfeiture proceedings against the Full Tilt Poker Companies and sets the stage for Full Tilt Poker players to be compensated. Under the terms of the agreement, PokerStars will pay $547 million to the United States, and the government has agreed that all U.S. players will have an opportunity to request compensation out of these funds for their losses. Additionally, within 90 days of the agreement, PokerStars will make available for immediate cash withdrawal the account balances for all non-U.S. players.
“We have worked incredibly hard over the past 15 months to reach an agreement that would achieve Full Tilt Poker’s primary objective: enabling all of its customers to be compensated,” said Barry Boss, managing partner of Cozen O’Connor’s Washington, D.C. office, who focuses on complex criminal matters, particularly those involving allegations of white-collar crime. “I am gratified that we were finally able to achieve this objective.”
Barry Boss and Anne Madonia of Cozen O’Connor represented the affiliated companies that own and operate Full Tilt Poker. Ifrah Law PLLC (Washington, DC), Jeffrey Green Russell Solicitors (London) and Matheson Ormsby Prentice (Dublin) also represented Full Tilt Poker. Skadden, Arps, Slate, Meagher & Flom and Herzog Fox & Neeman (Tel Aviv) represented PokerStars. The United States Attorney’s Office for the Southern District of New York appeared on behalf of the United States Department of Justice.
***
About Cozen O’Connor
Established in 1970 and ranked among the 100 largest law firms in the United States, Cozen O’Connor has 575 attorneys who help clients manage risk and make better business decisions. The firm counsels clients on their most sophisticated legal matters in all areas of the law, including litigation, corporate, and regulatory law. Representing a broad array of leading global corporations and middle market companies, Cozen O’Connor serves its clients’ needs through 21 offices across two continents.