Cravath’s New York Office Moves to Two Manhattan West
Partner, Litigation
Noah Joshua Phillips is Co-Chair of the Antitrust Practice and previously served as a Commissioner of the Federal Trade Commission (FTC). He advises clients on a range of antitrust issues, including mergers and acquisitions, business conduct and compliance, litigation and investigations, consumer protection, data security and privacy.
On the FTC, Mr. Phillips played an integral role in precedent setting enforcement actions and regulatory efforts concerning antitrust, consumer protection and privacy. He decided dozens of merger and other antitrust enforcement matters across the economy, including in the consumer product, defense, energy, entertainment, healthcare, technology, pharmaceutical and retail industries. Mr. Phillips’ written antitrust opinions were consistently upheld by federal appellate courts.
Since joining Cravath, Mr. Phillips has quickly amassed a thriving practice. On the antitrust advisory front, he has recently represented Frontier Communications in its pending $20 billion acquisition by Verizon Communications; the Special Committee of the Board of Directors of Paramount in the pending $28 billion merger with Skydance; HCSC in its pending $3.3 billion acquisition of Cigna’s Medicare businesses and CareAllies; Star Bulk Carriers in its $2.1 billion combination with Eagle Bulk Shipping; the Special Committee of the Board of Directors of EchoStar in the $26 billion combination with DISH Network; Route Mobile and its founding shareholders in the ₹59.22 billion sale of a majority stake in Route Mobile to Proximus Group; and Disney in ESPN’s strategic alliance with PENN Entertainment to launch ESPN BET.
On the litigation front, he has represented Tesla in consolidated putative class action antitrust litigation alleging it monopolized access to parts and services needed to repair its vehicles.
Mr. Phillips has been recognized by The Legal 500 and The Best Lawyers in America for his work in both antitrust litigation and antitrust merger control. He has also been named a “Litigation Star” by Benchmark Litigation and Lawdragon has included him on its lists of “500 Leading Lawyers in America,” “500 Leading Litigators in America” and “500 Leading Global Cyber Lawyers.”
Mr. Phillips speaks and writes frequently on a range of topics, including antitrust, consumer protection, and privacy issues, as well as the evolving artificial intelligence landscape and the various risks that might be addressed through enforcement and regulation. In addition, in his role as an FTC Commissioner, he frequently testified before Congress and represented the FTC before international bodies, including the G7, the Competition Committee of the Organisation for Economic Co-operation and Development, and the International Conference of Data Protection and Privacy Commissioners.
Prior to the FTC, Mr. Phillips served as Chief Counsel to U.S. Senator John Cornyn of Texas, on the Senate Judiciary Committee. He advised Senator Cornyn on a variety of legal and policy issues, as well as judicial nominations.
Mr. Phillips received an A.B. magna cum laude from Dartmouth College in 2000, where he was elected to Phi Beta Kappa, and a J.D. from Stanford Law School in 2005. He began his career at a New York-based investment bank. After law school, Mr. Phillips clerked for Hon. Edward C. Prado of the U.S. Court of Appeals for the Fifth Circuit and joined Cravath’s Litigation Department in 2006. He left the Firm in 2010, and he rejoined Cravath as a partner in December 2022.
On the FTC, Mr. Phillips played an integral role in precedent setting enforcement actions and regulatory efforts concerning antitrust, consumer protection and privacy. He decided dozens of merger and other antitrust enforcement matters across the economy, including in the consumer product, defense, energy, entertainment, healthcare, technology, pharmaceutical and retail industries. Mr. Phillips’ written antitrust opinions were consistently upheld by federal appellate courts.
Since joining Cravath, Mr. Phillips has quickly amassed a thriving practice. On the antitrust advisory front, he has recently represented Frontier Communications in its pending $20 billion acquisition by Verizon Communications; the Special Committee of the Board of Directors of Paramount in the pending $28 billion merger with Skydance; HCSC in its pending $3.3 billion acquisition of Cigna’s Medicare businesses and CareAllies; Star Bulk Carriers in its $2.1 billion combination with Eagle Bulk Shipping; the Special Committee of the Board of Directors of EchoStar in the $26 billion combination with DISH Network; Route Mobile and its founding shareholders in the ₹59.22 billion sale of a majority stake in Route Mobile to Proximus Group; and Disney in ESPN’s strategic alliance with PENN Entertainment to launch ESPN BET.
On the litigation front, he has represented Tesla in consolidated putative class action antitrust litigation alleging it monopolized access to parts and services needed to repair its vehicles.
Mr. Phillips has been recognized by The Legal 500 and The Best Lawyers in America for his work in both antitrust litigation and antitrust merger control. He has also been named a “Litigation Star” by Benchmark Litigation and Lawdragon has included him on its lists of “500 Leading Lawyers in America,” “500 Leading Litigators in America” and “500 Leading Global Cyber Lawyers.”
Mr. Phillips speaks and writes frequently on a range of topics, including antitrust, consumer protection, and privacy issues, as well as the evolving artificial intelligence landscape and the various risks that might be addressed through enforcement and regulation. In addition, in his role as an FTC Commissioner, he frequently testified before Congress and represented the FTC before international bodies, including the G7, the Competition Committee of the Organisation for Economic Co-operation and Development, and the International Conference of Data Protection and Privacy Commissioners.
Prior to the FTC, Mr. Phillips served as Chief Counsel to U.S. Senator John Cornyn of Texas, on the Senate Judiciary Committee. He advised Senator Cornyn on a variety of legal and policy issues, as well as judicial nominations.
Mr. Phillips received an A.B. magna cum laude from Dartmouth College in 2000, where he was elected to Phi Beta Kappa, and a J.D. from Stanford Law School in 2005. He began his career at a New York-based investment bank. After law school, Mr. Phillips clerked for Hon. Edward C. Prado of the U.S. Court of Appeals for the Fifth Circuit and joined Cravath’s Litigation Department in 2006. He left the Firm in 2010, and he rejoined Cravath as a partner in December 2022.
Benchmark Litigation
Best Lawyers in America
Lawdragon
The Legal 500 US
Deals & Cases
January 27, 2025
On January 27, 2025, the Aquarion Water Authority, a quasi-public corporation and political subdivision of the State of Connecticut and a standalone, newly created water authority alongside the South Central Connecticut Regional Water Authority, announced that it has entered into a definitive agreement to acquire Aquarion Water Company from Eversource Energy, an energy provider which transmits and delivers electricity and natural gas and supplies water to approximately 4.4 million customers in Connecticut, Massachusetts and New Hampshire. Subject to certain closing adjustments, the aggregate enterprise value of the sale is approximately $2.4 billion, which includes approximately $1.6 billion in cash and $800 million of net debt that will be extinguished at closing. Cravath is representing the Aquarion Water Authority in connection with the transaction.
Deals & Cases
January 22, 2025
On January 22, 2025, CardWorks, Inc. (“CardWorks”), a leader in credit and payments, and Ally Financial Inc. (“Ally”), a financial services company with the nation’s largest all‑digital bank and an industry‑leading auto financing business, announced that they have entered into a definitive agreement for CardWorks, and its wholly‑owned bank subsidiary, Merrick Bank, to acquire Ally’s credit card business, including a portfolio of $2.3 billion in credit card receivables with 1.3 million active cardholders as of December 31, 2024. Cravath is representing CardWorks in connection with the transaction.
Deals & Cases
January 06, 2025
On January 6, 2025, The Walt Disney Company (“Disney”) and FuboTV Inc. (“Fubo) announced that they have entered into a definitive agreement for Disney to combine its Hulu + Live TV business with Fubo, forming a combined virtual MVPD company of which Disney will become the majority owner.
Deals & Cases
September 05, 2024
On September 5, 2024, Verizon Communications Inc. and Frontier Communications Parent, Inc. (“Frontier”), the largest pure‑play fiber provider in the U.S., announced they have entered into a definitive agreement for Verizon to acquire Frontier in an all‑cash transaction valued at $20 billion. Cravath is representing Frontier in connection with the transaction.
Deals & Cases
July 09, 2024
On July 9, 2024, Altus Group Limited (“Altus Group”), a leading provider of asset and fund intelligence for commercial real estate, announced that it has signed a definitive agreement to sell its global Property Tax business to Ryan, LLC (“Ryan”), a leading global tax services and software provider, for total cash consideration of C$700 million. In addition to the definitive agreement, Ryan has also committed to enter a C$15 million Altus Market Insights subscription agreement at the close of the transaction, with an initial three‑year term of C$5 million per year. Cravath is representing Altus Group as U.S. counsel in connection with the transaction.
Publications
January 13, 2025
On January 13, 2025, Cravath published the fourth edition of its Cravath Data Privacy and Security Review newsletter. The Review provides an overview of U.S. state and federal legislative and regulatory developments, alongside U.S. and global enforcement trends and takeaways, in data privacy and cybersecurity for the last six months of 2024. The Review also provides an update on emerging and existing privacy and security legislation at the federal level, including the Video Privacy Protection Act, and highlights notable legislative developments at the state level, including in California, Illinois, New York and Pennsylvania. This edition highlights the heightened focus on cybersecurity and privacy‑related enforcement at federal agencies including the Federal Trade Commission, Securities and Exchange Commission, Department of Health and Human Services and Department of Justice, and provides global enforcement updates from the European Union, Australia and China.
Activities
December 03, 2024
Cravath partner Noah J. Phillips participated in “Reading Signs and Installing Guardrails: A Roadmap for the FTC,” an event hosted by the U.S. Chamber of Commerce on November 21, 2024, in Washington, D.C. The event convened Chamber members with competition and consumer protection policy priorities to discuss the future of the Federal Trade Commission, including how its composition, mission and focus are likely to change. Noah was featured in a fireside chat entitled “The Road Ahead.”
Activities
November 15, 2024
On November 14, 2024, Cravath partner Noah J. Phillips participated in the American Bar Association’s 2024 Antitrust Fall Forum, which was held in Washington, D.C. The event convened policy experts to engage in a series of debates and panels about the future of antitrust policy issues. Noah spoke on a panel entitled “Hot Topics in the Next Administration,” during which panelists discussed predictions about how the next presidential administration and agencies including the Department of Justice and Federal Trade Commission will approach competition policy and whether it will follow or alter the path of the current administration.
Activities
October 30, 2024
On October 29, 2024, Cravath partner Noah J. Phillips spoke at Cedar’s annual Financial Leadership Council, which convened healthcare CFOs, revenue cycle officers and senior finance leaders and was held from October 28‑30 in New York. Noah spoke at a session that reviewed the regulatory environment surrounding healthcare M&A, the FTC's current approach and key scrutiny areas and potential changes.
Publications
October 17, 2024
On October 15, 2024, Cravath prepared a memo for its clients entitled “FTC Issues Final HSR Rules.” The memo examines the Federal Trade Commission and the Department of Justice Antitrust Division’s final version of the new Hart‑Scott‑Rodino (HSR) rules, which modify the initial proposed rules released in June 2023. The memo summarizes the HSR rules, which require parties to inform the agencies of proposed acquisitions through a filing process, including notable changes from the current and proposed rules and their implications for filing parties.
Noah Joshua Phillips is Co-Chair of the Antitrust Practice and previously served as a Commissioner of the Federal Trade Commission (FTC). He advises clients on a range of antitrust issues, including mergers and acquisitions, business conduct and compliance, litigation and investigations, consumer protection, data security and privacy.
On the FTC, Mr. Phillips played an integral role in precedent setting enforcement actions and regulatory efforts concerning antitrust, consumer protection and privacy. He decided dozens of merger and other antitrust enforcement matters across the economy, including in the consumer product, defense, energy, entertainment, healthcare, technology, pharmaceutical and retail industries. Mr. Phillips’ written antitrust opinions were consistently upheld by federal appellate courts.
Since joining Cravath, Mr. Phillips has quickly amassed a thriving practice. On the antitrust advisory front, he has recently represented Frontier Communications in its pending $20 billion acquisition by Verizon Communications; the Special Committee of the Board of Directors of Paramount in the pending $28 billion merger with Skydance; HCSC in its pending $3.3 billion acquisition of Cigna’s Medicare businesses and CareAllies; Star Bulk Carriers in its $2.1 billion combination with Eagle Bulk Shipping; the Special Committee of the Board of Directors of EchoStar in the $26 billion combination with DISH Network; Route Mobile and its founding shareholders in the ₹59.22 billion sale of a majority stake in Route Mobile to Proximus Group; and Disney in ESPN’s strategic alliance with PENN Entertainment to launch ESPN BET.
On the litigation front, he has represented Tesla in consolidated putative class action antitrust litigation alleging it monopolized access to parts and services needed to repair its vehicles.
Mr. Phillips has been recognized by The Legal 500 and The Best Lawyers in America for his work in both antitrust litigation and antitrust merger control. He has also been named a “Litigation Star” by Benchmark Litigation and Lawdragon has included him on its lists of “500 Leading Lawyers in America,” “500 Leading Litigators in America” and “500 Leading Global Cyber Lawyers.”
Mr. Phillips speaks and writes frequently on a range of topics, including antitrust, consumer protection, and privacy issues, as well as the evolving artificial intelligence landscape and the various risks that might be addressed through enforcement and regulation. In addition, in his role as an FTC Commissioner, he frequently testified before Congress and represented the FTC before international bodies, including the G7, the Competition Committee of the Organisation for Economic Co-operation and Development, and the International Conference of Data Protection and Privacy Commissioners.
Prior to the FTC, Mr. Phillips served as Chief Counsel to U.S. Senator John Cornyn of Texas, on the Senate Judiciary Committee. He advised Senator Cornyn on a variety of legal and policy issues, as well as judicial nominations.
Mr. Phillips received an A.B. magna cum laude from Dartmouth College in 2000, where he was elected to Phi Beta Kappa, and a J.D. from Stanford Law School in 2005. He began his career at a New York-based investment bank. After law school, Mr. Phillips clerked for Hon. Edward C. Prado of the U.S. Court of Appeals for the Fifth Circuit and joined Cravath’s Litigation Department in 2006. He left the Firm in 2010, and he rejoined Cravath as a partner in December 2022.
On the FTC, Mr. Phillips played an integral role in precedent setting enforcement actions and regulatory efforts concerning antitrust, consumer protection and privacy. He decided dozens of merger and other antitrust enforcement matters across the economy, including in the consumer product, defense, energy, entertainment, healthcare, technology, pharmaceutical and retail industries. Mr. Phillips’ written antitrust opinions were consistently upheld by federal appellate courts.
Since joining Cravath, Mr. Phillips has quickly amassed a thriving practice. On the antitrust advisory front, he has recently represented Frontier Communications in its pending $20 billion acquisition by Verizon Communications; the Special Committee of the Board of Directors of Paramount in the pending $28 billion merger with Skydance; HCSC in its pending $3.3 billion acquisition of Cigna’s Medicare businesses and CareAllies; Star Bulk Carriers in its $2.1 billion combination with Eagle Bulk Shipping; the Special Committee of the Board of Directors of EchoStar in the $26 billion combination with DISH Network; Route Mobile and its founding shareholders in the ₹59.22 billion sale of a majority stake in Route Mobile to Proximus Group; and Disney in ESPN’s strategic alliance with PENN Entertainment to launch ESPN BET.
On the litigation front, he has represented Tesla in consolidated putative class action antitrust litigation alleging it monopolized access to parts and services needed to repair its vehicles.
Mr. Phillips has been recognized by The Legal 500 and The Best Lawyers in America for his work in both antitrust litigation and antitrust merger control. He has also been named a “Litigation Star” by Benchmark Litigation and Lawdragon has included him on its lists of “500 Leading Lawyers in America,” “500 Leading Litigators in America” and “500 Leading Global Cyber Lawyers.”
Mr. Phillips speaks and writes frequently on a range of topics, including antitrust, consumer protection, and privacy issues, as well as the evolving artificial intelligence landscape and the various risks that might be addressed through enforcement and regulation. In addition, in his role as an FTC Commissioner, he frequently testified before Congress and represented the FTC before international bodies, including the G7, the Competition Committee of the Organisation for Economic Co-operation and Development, and the International Conference of Data Protection and Privacy Commissioners.
Prior to the FTC, Mr. Phillips served as Chief Counsel to U.S. Senator John Cornyn of Texas, on the Senate Judiciary Committee. He advised Senator Cornyn on a variety of legal and policy issues, as well as judicial nominations.
Mr. Phillips received an A.B. magna cum laude from Dartmouth College in 2000, where he was elected to Phi Beta Kappa, and a J.D. from Stanford Law School in 2005. He began his career at a New York-based investment bank. After law school, Mr. Phillips clerked for Hon. Edward C. Prado of the U.S. Court of Appeals for the Fifth Circuit and joined Cravath’s Litigation Department in 2006. He left the Firm in 2010, and he rejoined Cravath as a partner in December 2022.
Benchmark Litigation
Best Lawyers in America
Lawdragon
The Legal 500 US
Deals & Cases
January 27, 2025
On January 27, 2025, the Aquarion Water Authority, a quasi-public corporation and political subdivision of the State of Connecticut and a standalone, newly created water authority alongside the South Central Connecticut Regional Water Authority, announced that it has entered into a definitive agreement to acquire Aquarion Water Company from Eversource Energy, an energy provider which transmits and delivers electricity and natural gas and supplies water to approximately 4.4 million customers in Connecticut, Massachusetts and New Hampshire. Subject to certain closing adjustments, the aggregate enterprise value of the sale is approximately $2.4 billion, which includes approximately $1.6 billion in cash and $800 million of net debt that will be extinguished at closing. Cravath is representing the Aquarion Water Authority in connection with the transaction.
Deals & Cases
January 22, 2025
On January 22, 2025, CardWorks, Inc. (“CardWorks”), a leader in credit and payments, and Ally Financial Inc. (“Ally”), a financial services company with the nation’s largest all‑digital bank and an industry‑leading auto financing business, announced that they have entered into a definitive agreement for CardWorks, and its wholly‑owned bank subsidiary, Merrick Bank, to acquire Ally’s credit card business, including a portfolio of $2.3 billion in credit card receivables with 1.3 million active cardholders as of December 31, 2024. Cravath is representing CardWorks in connection with the transaction.
Deals & Cases
January 06, 2025
On January 6, 2025, The Walt Disney Company (“Disney”) and FuboTV Inc. (“Fubo) announced that they have entered into a definitive agreement for Disney to combine its Hulu + Live TV business with Fubo, forming a combined virtual MVPD company of which Disney will become the majority owner.
Deals & Cases
September 05, 2024
On September 5, 2024, Verizon Communications Inc. and Frontier Communications Parent, Inc. (“Frontier”), the largest pure‑play fiber provider in the U.S., announced they have entered into a definitive agreement for Verizon to acquire Frontier in an all‑cash transaction valued at $20 billion. Cravath is representing Frontier in connection with the transaction.
Deals & Cases
July 09, 2024
On July 9, 2024, Altus Group Limited (“Altus Group”), a leading provider of asset and fund intelligence for commercial real estate, announced that it has signed a definitive agreement to sell its global Property Tax business to Ryan, LLC (“Ryan”), a leading global tax services and software provider, for total cash consideration of C$700 million. In addition to the definitive agreement, Ryan has also committed to enter a C$15 million Altus Market Insights subscription agreement at the close of the transaction, with an initial three‑year term of C$5 million per year. Cravath is representing Altus Group as U.S. counsel in connection with the transaction.
Publications
January 13, 2025
On January 13, 2025, Cravath published the fourth edition of its Cravath Data Privacy and Security Review newsletter. The Review provides an overview of U.S. state and federal legislative and regulatory developments, alongside U.S. and global enforcement trends and takeaways, in data privacy and cybersecurity for the last six months of 2024. The Review also provides an update on emerging and existing privacy and security legislation at the federal level, including the Video Privacy Protection Act, and highlights notable legislative developments at the state level, including in California, Illinois, New York and Pennsylvania. This edition highlights the heightened focus on cybersecurity and privacy‑related enforcement at federal agencies including the Federal Trade Commission, Securities and Exchange Commission, Department of Health and Human Services and Department of Justice, and provides global enforcement updates from the European Union, Australia and China.
Activities
December 03, 2024
Cravath partner Noah J. Phillips participated in “Reading Signs and Installing Guardrails: A Roadmap for the FTC,” an event hosted by the U.S. Chamber of Commerce on November 21, 2024, in Washington, D.C. The event convened Chamber members with competition and consumer protection policy priorities to discuss the future of the Federal Trade Commission, including how its composition, mission and focus are likely to change. Noah was featured in a fireside chat entitled “The Road Ahead.”
Activities
November 15, 2024
On November 14, 2024, Cravath partner Noah J. Phillips participated in the American Bar Association’s 2024 Antitrust Fall Forum, which was held in Washington, D.C. The event convened policy experts to engage in a series of debates and panels about the future of antitrust policy issues. Noah spoke on a panel entitled “Hot Topics in the Next Administration,” during which panelists discussed predictions about how the next presidential administration and agencies including the Department of Justice and Federal Trade Commission will approach competition policy and whether it will follow or alter the path of the current administration.
Activities
October 30, 2024
On October 29, 2024, Cravath partner Noah J. Phillips spoke at Cedar’s annual Financial Leadership Council, which convened healthcare CFOs, revenue cycle officers and senior finance leaders and was held from October 28‑30 in New York. Noah spoke at a session that reviewed the regulatory environment surrounding healthcare M&A, the FTC's current approach and key scrutiny areas and potential changes.
Publications
October 17, 2024
On October 15, 2024, Cravath prepared a memo for its clients entitled “FTC Issues Final HSR Rules.” The memo examines the Federal Trade Commission and the Department of Justice Antitrust Division’s final version of the new Hart‑Scott‑Rodino (HSR) rules, which modify the initial proposed rules released in June 2023. The memo summarizes the HSR rules, which require parties to inform the agencies of proposed acquisitions through a filing process, including notable changes from the current and proposed rules and their implications for filing parties.
Celebrating 200 years of partnership. In 2019, we celebrated our bicentennial. Our history mirrors that of our nation. Integral to our story is our culture.
Attorney Advertising. ©2025 Cravath, Swaine & Moore LLP.