Cravath’s New York Office Moves to Two Manhattan West
Securities Litigation
Cravath’s preeminent securities litigation practice plays a leading role in the field’s most significant and precedent‑setting cases, successfully defending individual and class action litigation in jurisdictions across the country. We consistently take on and win consequential securities matters for our clients, having eliminated claims in excess of $60 billion in recent years. While securities cases rarely go to trial, we draw on our extensive experience to successfully try these matters when necessary. In the past several years, we have tried nearly a dozen actions across the full spectrum of securities and shareholder litigation, including winning the first public market purchase case in which the presumption of reliance was successfully rebutted at a trial on the merits and securing one of the only post-trial defense verdicts decided under the entire fairness standard.
A “dominant presence” representing clients “at the forefront of the most complex disputes,” Cravath’s securities team handles prominent and high-stakes matters for every key category of defendant: issuers, financial institutions and audit firms. (Chambers USA) We have achieved notable resolutions and established important precedent impacting companies operating in all major industries, including consumer products; energy and natural resources; financial services; healthcare and life sciences; media and entertainment; and technology. Our “deep‑bench” of securities litigators devises innovative strategies from the boardroom to the courtroom, giving corporate defendants and their boards of directors greater ammunition to protect critical business interests and leveling the litigation playing field. (The Legal 500 US)
Because of our experience handling the largest and most complex cases, we have particular expertise in coordinating the defense, and often global resolution, of parallel related actions. Our securities litigation practice also extends to internal and governmental investigations and related proceedings, such as shareholder derivative actions and ERISA cases.
Repeatedly named “Securities Practice Group of the Year” by Law360, most recently in 2024, as well as “Securities Litigation Firm of the Year” by Benchmark Litigation, our securities litigation practice has been consistently ranked in the top tier by Benchmark Litigation, Chambers USA, The Legal 500 US and Best Lawyers Best Law Firms. The Firm was awarded New York Law Journal’s overall “Litigation Department of the Year” three times in the past six years, and the publication also has honored the Firm as “Class Action Litigation Department of the Year” and “Finance Litigation Department of the Year.”
In addition, our securities litigators have earned repeated praise from clients and the market, including:
- “Their knowledge of the law and securities litigation specifically is unmatched. They brought their absolute best to the table for our matter.” Client, The Legal 500 US
- Cravath’s securities litigation group is “one of the truly outstanding teams in the country” and has “a long history of involvement in the most high-profile engagements.” Chambers USA
- “The attention to detail, knowledge of the intricacies of our case, and the ability to manage individuals at every level of our organization was wildly impressive. . . . This team was dedicated and invested in our matter, they showed a level of care, compassion and professionalism that is lacking at other firms. This matter was not a check to them, it was an opportunity to build a lasting relationship and make things right for a client that was in a challenging position with litigation.” Client, The Legal 500 US
- “Cravath is a cut above the rest. Their client service is superior. In a bet the company case I would select them as my top pick.” Client, Chambers USA
- “Cravath lawyers are brilliant and tireless. Their team approach to everything is fantastic.” Client, Benchmark Litigation
- “I think that Cravath is the best single law firm I know. They have really deep talent, really a lot of great lawyers, they write well, they can try cases, they are just up and down the line excellent. They also act with total credibility.” Client, Chambers USA
A “dominant presence” representing clients “at the forefront of the most complex disputes,” Cravath’s securities team handles prominent and high-stakes matters for every key category of defendant: issuers, financial institutions and audit firms. (Chambers USA) We have achieved notable resolutions and established important precedent impacting companies operating in all major industries, including consumer products; energy and natural resources; financial services; healthcare and life sciences; media and entertainment; and technology. Our “deep‑bench” of securities litigators devises innovative strategies from the boardroom to the courtroom, giving corporate defendants and their boards of directors greater ammunition to protect critical business interests and leveling the litigation playing field. (The Legal 500 US)
Because of our experience handling the largest and most complex cases, we have particular expertise in coordinating the defense, and often global resolution, of parallel related actions. Our securities litigation practice also extends to internal and governmental investigations and related proceedings, such as shareholder derivative actions and ERISA cases.
Repeatedly named “Securities Practice Group of the Year” by Law360, most recently in 2024, as well as “Securities Litigation Firm of the Year” by Benchmark Litigation, our securities litigation practice has been consistently ranked in the top tier by Benchmark Litigation, Chambers USA, The Legal 500 US and Best Lawyers Best Law Firms. The Firm was awarded New York Law Journal’s overall “Litigation Department of the Year” three times in the past six years, and the publication also has honored the Firm as “Class Action Litigation Department of the Year” and “Finance Litigation Department of the Year.”
In addition, our securities litigators have earned repeated praise from clients and the market, including:
- “Their knowledge of the law and securities litigation specifically is unmatched. They brought their absolute best to the table for our matter.” Client, The Legal 500 US
- Cravath’s securities litigation group is “one of the truly outstanding teams in the country” and has “a long history of involvement in the most high-profile engagements.” Chambers USA
- “The attention to detail, knowledge of the intricacies of our case, and the ability to manage individuals at every level of our organization was wildly impressive. . . . This team was dedicated and invested in our matter, they showed a level of care, compassion and professionalism that is lacking at other firms. This matter was not a check to them, it was an opportunity to build a lasting relationship and make things right for a client that was in a challenging position with litigation.” Client, The Legal 500 US
- “Cravath is a cut above the rest. Their client service is superior. In a bet the company case I would select them as my top pick.” Client, Chambers USA
- “Cravath lawyers are brilliant and tireless. Their team approach to everything is fantastic.” Client, Benchmark Litigation
- “I think that Cravath is the best single law firm I know. They have really deep talent, really a lot of great lawyers, they write well, they can try cases, they are just up and down the line excellent. They also act with total credibility.” Client, Chambers USA
Deals & Cases
February 13, 2025
Dfinity Wins Summary Judgment in Purported Securities Class Action
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.
Deals & Cases
May 02, 2024
Root’s Sixth Circuit Win Affirming Dismissal of Putative Securities Class Action
On April 29, 2024, a three‑judge panel of the U.S. Court of Appeals for the Sixth Circuit ruled in favor of Cravath clients Root, Inc., an insurance company primarily focused on automobile insurance, and certain of its officers and directors (collectively, “Root”) in affirming the U.S. District Court for the Southern District of Ohio’s dismissal of a purported class action securities complaint. The decision is a precedential opinion that creates new law of the circuit.
Deals & Cases
April 29, 2024
Mylan’s Appellate Win Affirming Summary Judgment in Securities Class Action
On Monday, April 15, 2024, the U.S. Court of Appeals for the Second Circuit affirmed the U.S. District Court for the Southern District of New York’s granting of summary judgment in favor of Cravath client Mylan in a securities class action related to Mylan’s marketing, pricing and classification of EpiPen as well as alleged conduct concerning generic drug price fixing and market allocation.
Deals & Cases
November 15, 2023
Robinhood Defeats Certification of Proposed Class Asserting Securities Claims in Sprawling “Meme Stock” Litigation
On November 13, 2023, the U.S. District Court for the Southern District of Florida denied plaintiffs’ motion to certify a class asserting market manipulation claims under the federal securities laws against Cravath clients Robinhood Markets, Inc., Robinhood Financial LLC and Robinhood Securities, LLC (together, “Robinhood”).
Deals & Cases
June 28, 2023
First Solar Wins Dismissal of Putative Securities Class Action
On June 23, 2023, Judge Michael T. Liburdi of the U.S. District Court for the District of Arizona dismissed with prejudice all claims brought against Cravath clients First Solar, Inc. and its executives (collectively, “First Solar”) in a purported securities class action litigation concerning the company’s Series 6 solar module and its Project Development business.
Activities
January 21, 2025
Law360 Recognizes Cravath as a 2024 “Firm of the Year”
On January 20, 2025, Cravath was recognized by Law360 as a “Firm of the Year,” a designation reserved for law firms that steered “some of the largest deals of 2024” and secured “high‑profile litigation wins” while being selected for at least five “Practice Group of the Year” awards in 2024.
Activities
January 14, 2025
Cravath Shortlisted for Benchmark Litigation’s 2025 U.S. Awards
In January 2025, Cravath was shortlisted for Benchmark Litigation’s 2025 U.S. Awards in the following categories: “New York Firm of the Year”; “Antitrust Firm of the Year”; “Trial Firm of the Year”; “General Commercial Firm of the Year”; and “Securities Firm of the Year”. Additionally, partner David R. Marriott was shortlisted for “Antitrust Litigator of the Year” as well as “Trial Lawyer of the Year”, and partner Kevin J. Orsini was shortlisted for “General Commercial Litigator of the Year”.
Activities
December 12, 2024
Rachel Skaistis Featured in Lawdragon’s “Lawyer Limelight” Series
On November 12, 2024, Cravath partner Rachel Skaistis was profiled in Lawdragon’s “Lawyer Limelight” series alongside her sister Hannah Ross, who is a partner at a different New York-based law firm. In the joint Q&A, Rachel and Hannah discussed their parallel paths to partnership and reflected on their individual practices in securities law. Describing what she is proudest of in her work, Rachel said: “I have had the privilege of working with such amazing lawyers, and I’ve gotten to learn from so many litigation styles. But it is nice to get to a point where you feel like you have found a style of practicing and advising your clients that is true to who you are.” The sisters also spoke about the mentors and role models, including each other, who helped shape their careers as female litigators.
Activities
November 14, 2024
Gary Bornstein Named a Finalist for The American Lawyer’s 2024 Litigator of the Year Award
Cravath partner Gary A. Bornstein was named a finalist for The American Lawyer’s 2024 Litigator of the Year award as part of the publication’s seventh annual Industry Awards. The accompanying profile highlights Gary’s “many trial victories” and representation of clients including Epic Games in its antitrust trial victory against Google; Deutsche Telekom in a putative class action and derivative litigation related to T‑Mobile’s $26 billion merger with Sprint; and British American Tobacco in putative class action securities litigation.
Publications
November 05, 2024
Cravath Publishes Finance & Capital Markets Quarterly Review for Q3 2024
On November 5, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the third quarter of 2024. This edition also examines several recent litigation decisions and restructuring developments, as well as a variety of SEC rulemaking, comment and enforcement updates.
Deals & Cases
February 13, 2025
Dfinity Wins Summary Judgment in Purported Securities Class Action
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.
Deals & Cases
May 02, 2024
Root’s Sixth Circuit Win Affirming Dismissal of Putative Securities Class Action
On April 29, 2024, a three‑judge panel of the U.S. Court of Appeals for the Sixth Circuit ruled in favor of Cravath clients Root, Inc., an insurance company primarily focused on automobile insurance, and certain of its officers and directors (collectively, “Root”) in affirming the U.S. District Court for the Southern District of Ohio’s dismissal of a purported class action securities complaint. The decision is a precedential opinion that creates new law of the circuit.
Deals & Cases
April 29, 2024
Mylan’s Appellate Win Affirming Summary Judgment in Securities Class Action
On Monday, April 15, 2024, the U.S. Court of Appeals for the Second Circuit affirmed the U.S. District Court for the Southern District of New York’s granting of summary judgment in favor of Cravath client Mylan in a securities class action related to Mylan’s marketing, pricing and classification of EpiPen as well as alleged conduct concerning generic drug price fixing and market allocation.
Deals & Cases
November 15, 2023
Robinhood Defeats Certification of Proposed Class Asserting Securities Claims in Sprawling “Meme Stock” Litigation
On November 13, 2023, the U.S. District Court for the Southern District of Florida denied plaintiffs’ motion to certify a class asserting market manipulation claims under the federal securities laws against Cravath clients Robinhood Markets, Inc., Robinhood Financial LLC and Robinhood Securities, LLC (together, “Robinhood”).
Deals & Cases
June 28, 2023
First Solar Wins Dismissal of Putative Securities Class Action
On June 23, 2023, Judge Michael T. Liburdi of the U.S. District Court for the District of Arizona dismissed with prejudice all claims brought against Cravath clients First Solar, Inc. and its executives (collectively, “First Solar”) in a purported securities class action litigation concerning the company’s Series 6 solar module and its Project Development business.
Activities
January 21, 2025
Law360 Recognizes Cravath as a 2024 “Firm of the Year”
On January 20, 2025, Cravath was recognized by Law360 as a “Firm of the Year,” a designation reserved for law firms that steered “some of the largest deals of 2024” and secured “high‑profile litigation wins” while being selected for at least five “Practice Group of the Year” awards in 2024.
Activities
January 14, 2025
Cravath Shortlisted for Benchmark Litigation’s 2025 U.S. Awards
In January 2025, Cravath was shortlisted for Benchmark Litigation’s 2025 U.S. Awards in the following categories: “New York Firm of the Year”; “Antitrust Firm of the Year”; “Trial Firm of the Year”; “General Commercial Firm of the Year”; and “Securities Firm of the Year”. Additionally, partner David R. Marriott was shortlisted for “Antitrust Litigator of the Year” as well as “Trial Lawyer of the Year”, and partner Kevin J. Orsini was shortlisted for “General Commercial Litigator of the Year”.
Activities
December 12, 2024
Rachel Skaistis Featured in Lawdragon’s “Lawyer Limelight” Series
On November 12, 2024, Cravath partner Rachel Skaistis was profiled in Lawdragon’s “Lawyer Limelight” series alongside her sister Hannah Ross, who is a partner at a different New York-based law firm. In the joint Q&A, Rachel and Hannah discussed their parallel paths to partnership and reflected on their individual practices in securities law. Describing what she is proudest of in her work, Rachel said: “I have had the privilege of working with such amazing lawyers, and I’ve gotten to learn from so many litigation styles. But it is nice to get to a point where you feel like you have found a style of practicing and advising your clients that is true to who you are.” The sisters also spoke about the mentors and role models, including each other, who helped shape their careers as female litigators.
Activities
November 14, 2024
Gary Bornstein Named a Finalist for The American Lawyer’s 2024 Litigator of the Year Award
Cravath partner Gary A. Bornstein was named a finalist for The American Lawyer’s 2024 Litigator of the Year award as part of the publication’s seventh annual Industry Awards. The accompanying profile highlights Gary’s “many trial victories” and representation of clients including Epic Games in its antitrust trial victory against Google; Deutsche Telekom in a putative class action and derivative litigation related to T‑Mobile’s $26 billion merger with Sprint; and British American Tobacco in putative class action securities litigation.
Publications
November 05, 2024
Cravath Publishes Finance & Capital Markets Quarterly Review for Q3 2024
On November 5, 2024, Cravath published the latest edition of its Finance & Capital Markets Quarterly Review, which provides an update on the bond, equity and loan markets and on restructuring activity during the third quarter of 2024. This edition also examines several recent litigation decisions and restructuring developments, as well as a variety of SEC rulemaking, comment and enforcement updates.
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Cravath Bicentennial
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