Israel David LLC Secures Key Victory for Richmond Global Compass in Novartis Lawsuit

NEW YORK, Oct. 30, 2026 /CourierPR/ -- Israel David LLC has secured a significant legal victory for its clients, the Richmond Global Compass investment management entities, in a lawsuit against Novartis International AG. The case, Richmond Global Compass Fund Management, LP v. Novartis International AG, No. 1:25-cv-06490 (S.D.N.Y.), was brought against Novartis, Mark Dieringer, who served as head of alternative investments and external mandates for Novartis’s pension fund, Swiss fund marketer GRW AG, and Gary Johnston, GRW’s managing partner.

According to the complaint, the defendants are accused of misappropriating Richmond Global Compass’s confidential information and proprietary ESG (Environmental, Social, and Governance) investment strategy. The stolen information was allegedly used to help launch a competing hedge fund, into which Novartis later invested $100 million.

Chief United States District Judge Laura Taylor Swain denied motions to dismiss filed by Novartis and its co-defendants, allowing every claim in the lawsuit to proceed to discovery and potentially trial. The court rejected every ground advanced by the defendants, holding that the plaintiffs adequately pleaded trade-secret misappropriation under the federal Defend Trade Secrets Act. The ruling also sustained the plaintiffs' unfair-competition and aiding-and-abetting claims, found personal jurisdiction over all four defendants, held that the plaintiffs had standing to bring their claims, and declined to dismiss any claim on statute-of-limitations grounds.

The Israel David LLC team representing the plaintiffs is led by Harris and includes Andrew Cauchi and Adia Davis. The firm, based in New York, specializes in complex, high-stakes disputes, including commercial litigation, securities and shareholder matters, antitrust, and other significant disputes nationwide.