Mr. Gilreath graduated from the University of South Carolina in 1964 with a B.S. Degree in Accounting. In 1967, he received a J.D. Degree from the University of South Carolina Law School. In 1968, he received a Master of Laws Degree in Taxation from the New York University School of Law, graduate division. He has authored articles in the South Carolina Law Review and in the national publication Taxation for Lawyers. In addition, he has been on the panel and lectured at a number of continuing education programs for attorneys and accountants. He is admitted to practice in all state and federal courts in the State of South Carolina; all state courts in North Carolina and the Federal District Courts for the Eastern, Middle, and Western Districts of the State of North Carolina; the United States Tax Court; the United States Court of Appeals for the Fourth Circuit, the Fifth Circuit and the Eleventh Circuit; and the United States Supreme Court.
During the course of his practice, he has participated as lead counsel or co-lead counsel in numerous civil cases involving complex corporate tax or securities matters. The majority of these cases were pursued in the federal courts in the States of South Carolina, North Carolina, Tennessee, Georgia, Colorado, and Louisiana. Most of this litigation involved multiple defendants, multi-state discovery and all aspects of motion practice. In addition to this, he has served as lead counsel or co-counsel for plaintiffs in numerous cases.
Complex Litigation:
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The State of South Carolina, ex relatione, T. Travis Medlock, Attorney General v. National Council on Compensation Insurance, Inc., et al., Case No. 94-CP-23-2428, Court of Common Pleas for Greenville County before Judge Henry Floyd. This was an action brought on behalf of all employers in South Carolina involving Workers' Compensation Insurance. The settlement in this action consisted of a $24.5 million immediate cash payment and future relief consisting of programs, incentives and discounts having a total present value of $8 million along with provision for direct reimbursement of expenses of litigation in the amount of $500,000. The claim in the case was for recoupment of losses sustained by employers in the State of South Carolina who were squeezed into the Workers' Compensation residual market. There were more than 29 attorneys of record in the matter, both local and nationally, on behalf of the defendants. Motions and discovery lasted over four years and the production of documents exceeded one million documents.
- Ross Cosmetics Securities litigation filed in the U.S. District Court, Spartanburg Division. This litigation was ultimately settled for approximately $9 million in 1993.
- Multimedia securities litigation filed in the Court of Common Pleas for Greenville County before Judge Pyle. As a result of this action, the company elected a recapitalization plan which resulted in an increase of $7.00 per share over the initial freeze out offer. Without considering the potential value of the opportunity for continued equity participation, it was estimated that the benefit to the public shareholders was in excess of $40 million.
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Moorman v. Crawford, et al., Case No. CC-86-0050-M, U.S. District Court, Western District of North Carolina. This was a stockholder's derivative action filed on behalf of the stockholders in a large closely held corporation. A settlement arrangement was entered into with the company wherein the company made an offer to all of its shareholders to purchase all or part of their stock at substantial amounts over previous stock purchases.
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Kitchens v. U.S. Shelter, 82-1951-1, U.S. District Court for the District of South Carolina. This was a class action securities matter involving a judgment of $6.2 million.
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Phillips v. Bebber, C.A. #9-88-2051-3, U.S. District Court for the District of South Carolina. This was an ERISA class action involving termination of a pension plan of Trailways Bus Lines. This litigation resulted in terminating the pension plan and recovering a surplus for the benefit of the class which exceeded $30 million.
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Thomas v. Tru-Tech, U.S. District Court for the District of South Carolina, U.S. Dist. LEXIS 15929. This was an ERISA class action involving termination of a pension plan. Plaintiffs received a $217,000 non-jury verdict, Judge G. Ross Anderson; affirmed by the 4th Circuit, U.S. Court of Appeals.
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Patriots Point Securities Litigation, U.S. District Court for the District of South Carolina. This was a class action involving a defaulted bond issue. Plaintiffs received a $12.7 million settlement in 1992.
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Bonney v. Grainger, 356 S.E.2d 137 (S.C. Ct. App.). This was trust litigation in which long-standing trustee of some 40 years was removed for lack of authority to act as trustee.
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Newsom, et al. v. Blue Cross and Blue Shield of South Carolina, et al. Case No. 2002-CP-40-4997, Court of Common Pleas, State of South Carolina, County of Richland. This is a class action brought on behalf of all doctors in South Carolina against various Blue Cross entities. The Court has recently certified the Plaintiff class action motion of plaintiffs.
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Horner, et al. v. Blue Cross and Blue Shield of North Carolina, Civil Action No. 5:04-CV-81-FL(2); U.S. District Court for the Eastern District of North Carolina, Western Division. This is a class action brought on behalf of all doctors in North Carolina against various Blue Cross entities. A class certification motion has not yet been filed in this case.
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Gosnell, et al. v. Wild Turkey Holdings, LLC, et al., Case No. 2003-CP-23-00678, Court of Common Pleas, State of South Carolina, County of Greenville. This was a class action involving a subdivision in Greenville, South Carolina. The class was certified and involved 31 various homeowners. The case was recently settled.
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Vogt v. Greenmarine Holding, LLC, case No. 02-Civ. 2039 (GEL), U.S. District Court for the Southern District of New York. This is a class action brought under the Worker Adjustment and Retraining Notification Act (WARN Act), on behalf of all terminated employees of Outboard Marine Corporation. The WARN Act requires employers to give sixty days notice to employees prior to a mass layoff or plant closing. The case was originally filed in early 2001 in Atlanta Federal District Court where it was dismissed for lack of personal jurisdiction. In 2002 the case was refiled in New York. Discovery is virtually completed and the class certification and other issues are expected to be ruled on later this year. The class of plaintiffs (former employees of Outboard Marine Corporation), is expected to exceed Five Thousand (5,000) individuals. In filings with the Court plaintiffs have alleged the damages to the class exceed $44.5 Million. A significant ruling in this case is found at: Vogt v. Greenmarine Holding, LLC, 318 F. Supp. 136 (S.D.N.Y. 2004).
Tax-Related Litigation:
Calhoun v. Wells, jury trial U.S.D.C., Greenville Division [Judge Houck], related matters at 45 AFTR2d 80-1686 (D.S.C., 1980) and 80-2 U.S.T.C. (CCH) 9643 (D.S.C. 1980).
Covil Insulation Co., Inc. v. Commissioner of Internal Revenue, 65 T.C. 364 (1975), tax deficiency litigation.
Jim Lee Wilson v. Commissioner, 35 T.C.M. (CCH) 1019, (1976), tax deficiency litigation.
