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Theresa E. Loscalzo

Partner, Firm Co-Managing Partner
T 215-751-2254

    Ms. Loscalzo is co-managing partner of the Firm and a member of the Firm's Executive Committee. She is the co-chair of Schnader’s E-Commerce and Technology Practice Group. She is a member and former chair of the Financial Services Litigation Practice Group and is a member of the Higher Education Practice Group and Communications and Media Group.

    Ms. Loscalzo has more than 30 years of experience in large and complex litigations, including merger and acquisition litigation; financial services litigation; securities litigation, including the defense of multidistrict cases; and antitrust litigation, including prosecution of Robinson-Patman and Sherman Act claims.  In addition, she advises Higher Education clients on Speech Codes and the First Amendment as applied to student and faculty speech. 

    She serves as the Chairman of The Forum Foundation, as well as on the Board of Directors of The Forum of Executive Women, for which she chaired the Sponsorship Committee and the Membership Committee. She was recently named to the American Heart Association Go Red for Women Executive Leadership Team. Additionally, Ms. Loscalzo is a member of the Board of Philadelphia’s only all-comedy theatre, 1812 Productions. She recently completed service as a Board Member of Philadelphia VIP, which provides legal services to the indigent, and was a member of the Board of Trustees of the Walnut Street Theatre for more than a decade. 


    AREAS OF EXPERIENCE

    Financial Services Litigation
    • Counsel for private mortgage insurer in an action filed in the Eastern District of Pennsylvania by a servicer alleging breach of contract.
    • Counsel for private mortgage insurer in a number of putative class actions filed across the country against mortgage lenders and private mortgage insurers alleging that private mortgage insurers entered into "captive" reinsurance agreements with mortgage lenders that violated RESPA.
    • Counsel for broker employee in Harmelin v. Man Financial Inc. et al., a case filed in the Eastern District of Pennsylvania alleging financial fraud in connection with a hedge fund.
    • Counsel for affiliate of major mortgage lender in class action in Bankruptcy Court for Eastern District of Pennsylvania asserting lender and affiliates committed consumer and bankruptcy fraud by assessing post-bankruptcy fees against consumers.
    • Counsel for underwriter of private mortgage insurance in class action litigation pending in federal court in North Carolina, Texas, and elsewhere involving claims that the structure of the industry violates the federal Real Estate Settlement Procedures Act.
    • Counsel for underwriter of private mortgage insurance in class action litigation brought in federal court in the Eastern District of Pennsylvania involving claims that insurers' supposed use of consumer credit reports violated the Fair Credit Reporting Act. Result: Claims dismissed by District Court; District Court reversed by 3rd Circuit Court of Appeals; 3rd Circuit decision vacated by U.S. Supreme Court.
    • Counsel for one of the underwriter defendants in In re: Initial Public Offering Securities Litigation, a multidistrict securities class action in federal court in the Southern District of New York, in which plaintiffs claim that hundreds of initial public offerings and aftermarkets have been manipulated by alleged industry-wide practices.
    • Counsel for Resolution Trust Corporation and FDIC in professional liability and insurance claims brought under FIRREA, which arose out of the failures of Hill Financial Savings Association, Otero Federal Savings and Loan, AmeriFirst Savings Bank and Old Stone Savings Bank, including Resolution Trust Corporation v. Peat Marwick, settled globally for $185 million, and Resolution Trust Corporation v. Deloitte & Touche in the federal court for the District of Colorado.
    • Counsel for defendant FDIC Receiver in Hindes v. FDIC, a derivative action brought under FIRREA in federal court in the Eastern District of Pennsylvania relating to the failure of Meritor Savings Bank. Obtained dismissal of all claims against FDIC Receiver.

    Derivative Litigation
    • Counsel to IBM and its subsidiary Jasmine Acquisition Corp. in Trading Strategies Fund v. Karsan, et al, No. 2012-11460 (Chester C.C.P, Pa.), a putative class action seeking to enjoin a $1.3 billion merger between IBM and Kenexa Corporation ("Kenexa") and demanding monetary damages from Kenexa, its board of directors and IBM claiming that the purchase price of $46 per share in cash, a 42% premium over the pre-announcement trading price of Kenexa's shares, as well as the process leading up to the merger agreement, were inadequate.
    • Counsel to Energy Transfer Partners, L.P., Energy Transfer Partners, G.P., L.P., Energy Transfer Equity, L.P. and SAM Acquisition Corporation ("Energy Partners") in eight derivative and putative class action lawsuits filed in the Philadelphia Court of Common Pleas, Commerce Division, and consolidated under the caption In re Sunoco, Inc., Phila. Ct. Com. Pl., April Term, 2012, No. 03894. These complaints sought to enjoin the acquisition by Energy Partners of Sunoco, claiming that the process leading up to the merger agreement was inadequate and that the 20% premium being paid to Sunoco's shareholders was insufficient.
    • Counsel for acquiring entities (Regency Energy Partners LP and related entities) in successful defense of Pennsylvania state and federal court litigation challenging the acquisition of PVR Partners, LP.
    • Pennsylvania counsel for acquired company Jones Group in New York state court derivative litigation.
    • Counsel for defendants in Rubery v. Radian Group, Inc. in Pennsylvania and federal court litigation challenging the proposed merger of Radian and MGIC.
    • Counsel for defendants in the successful defense of New Jersey and federal court derivative litigation over the direction of a billion dollar family-owned real estate development company.

    Antitrust 
    • Representation of several of the nation's largest chain drug stores in multiple suits alleging antitrust claims under the Robinson-Patman and Sherman Acts.
    • Antitrust counseling on a broad spectrum of competition and business matters.

    E-Commerce and High Technology
    • Counseled various clients on use of social media in connection with consumer retail contests.
    • Counsel to equipment lease financing company in dispute with provider regarding multi-million dollar software design and installation.
    • Represented domain name registrar Network Solutions, Inc., the dot-com people TM, in litigation concerning pre-registration practices.
    • Represented a major Internet service provider in contract dispute over a link agreement.  
    • Advised an Internet service provider (ISP) regarding liability for acts of its customers.
    • Drafted customer agreements for a financial institution for use in Internet banking.
    • Advised a financial institution on various litigation and regulatory issues involving its Internet service provider subsidiary.

    Communications and Media
    • Counsel for Northeastern Pennsylvania Freethought Society in action filed in the federal district court of the Middle District of Pennsylvania against the County of Lackawanna Transit System asserting its refusal to allow its advertising on System's buses violated First Amendment.
    • Counsel in B.L. et al. v. Mahanoy Area School District representing minor B.L. and her parents in action filed in the federal district court for the Middle District of Pennsylvania against School District seeking injunctive relief for First Amendment and Due Process violations arising from disciplinary action for out-of-school speed.
    • Amici brief on behalf of the ACLU in Robbins v. Lower Merion School District, filed in federal court in the Eastern District of Pennsylvania, in suit against school official for allegedly using school-issued laptops with webcams to record students without their knowledge.
    • Counseled various higher education clients in connection with First Amendment issues arising from use of social media.

    COMMUNITY ACTIVITIES

    • The Forum of Executive Women, Board of Directors (2014-2018); Chairman of Membership Committee (2014-2016); Chair of Sponsorship Committee (2016-2018)
    • The Forum Foundation, Chairman (2018), Board of Directors (2016-2018)
    • Philadelphia VIP, Board of Directors (2014-2016)
    • 1812 Productions, Philadelphia's All Comedy Theatre Company, Board of Directors, (2015-present)
    • Walnut Street Theatre, Trustee (1998-2013), Executive Committee (1999-2013), Chair of Annual Holiday Auction (2001, 2002); Alumni Trustee (since 2013)
    • Domestic Abuse Project of Media, Volunteer (2006-2010)
    • American Heart Association Go Red for Women Executive Leadership Team (2016-2018)

    Education

    • Widener University School of Law, J.D., summa cum laude, 1987
    • West Chester University, B.S., 1979

    Court Admissions

    • U.S. District Court for the Eastern District of Pennsylvania
    • Supreme Court of Pennsylvania
    • U.S. Supreme Court
    • U.S. Tax Court
    • Third Circuit Court of Appeals
    • Middle District of Pennsylvania

    Bar Admissions

    • Pennsylvania, 1988

    Professional Affiliations

    • The Forum of Executive Women

    Other Distinctions

    • Recipient, Pennsylvania Diversity Council's 2015 Most Powerful and Influential Woman Award
    • Recognized as a "Future Star" for Pennsylvania in Benchmark Litigation, 2013-2019
    • Rated AV® Preeminent™ by Martindale-Hubbell®
    • Named as a "Pennsylvania Super Lawyer" for business litigation, 2005-2007, 2009-2010, 2017-2018 
    • Finalist, SmartCEO Center of Influence Award, 2016
    • Listed in The Best Lawyers in America for Litigation - Mergers and Acquisitions, 2019
    • Recipient of "Women of Distinction Award" from the Philadelphia Business Journal, 2018