Litigation

On April 4, 2025, Rogers Communications Inc. (“Rogers”) announced it has entered into a definitive agreement with funds managed by Blackstone, backed by leading Canadian institutional investors, for a CDN$7 billion equity investment. Under the terms of the transaction, Blackstone will acquire a non-controlling interest in a new Canadian subsidiary of Rogers that will own a minor part of the Rogers wireless network. Following the transaction, Blackstone will hold a 49.9% equity interest (with a 20% voting interest) in the new subsidiary. Rogers will maintain full operational control of its network and will include the financial results of the new subsidiary in its consolidated financial statements. At any time between the eighth and twelfth anniversaries of closing, Rogers will have the right to purchase Blackstone’s interest in the new subsidiary. Rogers intends to use the net proceeds from the transaction to repay debt. Cravath is representing Rogers as U.S. counsel in connection with the transaction.

On March 18, 2025, Wiz, Inc. (“Wiz”), a leading cloud security platform headquartered in New York, and Google LLC (“Google”) announced they have signed a definitive agreement for Google to acquire Wiz for $32 billion, subject to closing adjustments, in an all‑cash transaction. Once closed, Wiz will join Google Cloud. Cravath is representing Wiz as regulatory counsel in connection with the transaction.

On March 17, 2025, PepsiCo, Inc. (“PepsiCo”) announced that it has entered into a definitive agreement to acquire poppi, a prebiotic soda brand, for $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion. The transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction. Cravath is representing PepsiCo in connection with the transaction.

On February 10, 2025, the Superior Court of California, County of San Mateo, granted summary judgment in favor of Cravath client Dfinity Foundation (“Dfinity), a Swiss not‑for‑profit entity working to create a smart contract platform designed to power blockchain versions of popular internet applications, in purported class action securities litigation.

On January 22, 2025, Eros Media World plc, a global media and entertainment company, announced that its internal review of certain accounting practices and internal controls has been concluded, with the Audit Committee determining that no revenues of the Company recognized during the fiscal year ended March 31, 2020, were inappropriately recognized, and finding no impairment in the intangible assets and goodwill reflected on the Company’s Form 6‑K dated March 31, 2021. In addition, the Audit Committee found no material weaknesses in internal controls over financial reporting.

On April 24, 2025, Managing IP honored Cravath at the publication’s 2025 Americas Awards, which recognize “in‑house teams, firms, individuals and corporations behind the most innovative and challenging IP work of the past year, as well as those driving the international market.” The Firm was honored with an Impact Case of the Year award for its successful representation of client Sherman Nealy in an appeal before the U.S. Supreme Court, which ruled the Copyright Act entitles a copyright owner to obtain damages for any timely filed infringement claim, regardless of when the infringement occurred.

On April 25, 2025, Cravath partners Sasha Rosenthal‑Larrea and Sharonmoyee Goswami participated in Fordham Law School’s 32nd Annual Intellectual Property Law & Policy Conference, which took place from April 24‑25 in New York. The conference convened experts across the public and private sectors to discuss developments in the IP law and policy space. Sasha spoke on a panel entitled “Artificial Intelligence” during a session on copyright law, and Sharon spoke on a panel entitled “Patents & Remedies” during a session on patent law.

In March 2025, the Court Modernization Action Committee (“CMAC”) published its 2024 progress report, entitled the “2024 New York State Court Modernization Progress Report,” co-authored by Cravath of counsel and CMAC Co-Chair Scott B. Reents. The report outlines the continued progress of the New York State Courts in 2024, with recommendations for expanding and refining the use of virtual proceedings and enhancing systems for communicating with court users, among other improvements. The CMAC was formed by the New York State Unified Court System judicial leadership to advance court innovations.

Cravath partners C. Daniel Haaren, Bethany A. Pfalzgraf and Noah Joshua Phillips were featured in the 2025 edition of “Practice Perspectives: Vault’s Guide to Legal Practice Areas,” which highlights the experiences of practicing lawyers in more than 20 different areas of the law and is published annually.

On April 15, 2025, Cravath prepared a memo for its clients entitled “DOJ Announces New Digital Asset Enforcement Priorities.” The memo examines the Office of the Deputy Attorney General’s recently issued memorandum with the subject “Ending Regulation By Prosecution,” which sets out new enforcement priorities for digital asset‑related investigations and prosecutions by the U.S. Department of Justice.