Cravath’s New York Office Moves to Two Manhattan West
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 Litigation Firm of the Year” by Benchmark Litigation and “Securities Practice Group of the Year” by Law360, 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, most recently in 2024, 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:
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 Litigation Firm of the Year” by Benchmark Litigation and “Securities Practice Group of the Year” by Law360, 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, most recently in 2024, 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:
Deals & Cases
May 02, 2024
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
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
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
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.
Deals & Cases
June 09, 2023
On June 6, 2023, the Delaware Supreme Court affirmed the Delaware Court of Chancery’s judgment in favor of Cravath client Elon Musk on all counts in a stockholder derivative suit related to Tesla, Inc.’s (“Tesla”) 2016 acquisition of SolarCity Corp. (“SolarCity”).
Activities
November 14, 2024
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
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.
Activities
September 23, 2024
Gary A. Bornstein was named to The Hollywood Reporter’s “New York Power Lawyers” list, which recognizes the “25 most powerful entertainment lawyers in New York” and was published in the September 19, 2024 issue of The Hollywood Reporter Magazine. The feature highlighted Gary’s representation of Epic Games in its successful antitrust litigation against Google and of a Special Committee of Paramount Global’s independent directors in connection with litigation matters related to the company’s pending $28 billion merger with Skydance.
Activities
September 06, 2024
On September 5, 2024, Cravath was named the recipient of the New York Law Journal’s 2024 “Litigation Department of the Year” award in the General Litigation category, the publication’s highest firmwide honor for litigation practice. The Firm was honored at the New York Legal Awards for a period that saw it earn numerous major successes on behalf of clients across industries, including Epic Games in an antitrust trial victory against Google, Robinhood in the sprawling and high-profile “meme stock” litigation and PG&E in its successful defense against a putative class action involving wins in multiple courts.
Activities
September 06, 2024
On September 6, 2024, Lawdragon announced the inclusion of 37 Cravath partners in its list of the “500 Leading Litigators in America.” The list, assembled based on research and vetting by peers, recognizes the “the best litigators the U.S. has to offer” who represent entities in cases spanning the areas of antitrust, finance, government investigations, intellectual property, M&A and securities, among many others.
Deals & Cases
May 02, 2024
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
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
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
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.
Deals & Cases
June 09, 2023
On June 6, 2023, the Delaware Supreme Court affirmed the Delaware Court of Chancery’s judgment in favor of Cravath client Elon Musk on all counts in a stockholder derivative suit related to Tesla, Inc.’s (“Tesla”) 2016 acquisition of SolarCity Corp. (“SolarCity”).
Activities
November 14, 2024
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
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.
Activities
September 23, 2024
Gary A. Bornstein was named to The Hollywood Reporter’s “New York Power Lawyers” list, which recognizes the “25 most powerful entertainment lawyers in New York” and was published in the September 19, 2024 issue of The Hollywood Reporter Magazine. The feature highlighted Gary’s representation of Epic Games in its successful antitrust litigation against Google and of a Special Committee of Paramount Global’s independent directors in connection with litigation matters related to the company’s pending $28 billion merger with Skydance.
Activities
September 06, 2024
On September 5, 2024, Cravath was named the recipient of the New York Law Journal’s 2024 “Litigation Department of the Year” award in the General Litigation category, the publication’s highest firmwide honor for litigation practice. The Firm was honored at the New York Legal Awards for a period that saw it earn numerous major successes on behalf of clients across industries, including Epic Games in an antitrust trial victory against Google, Robinhood in the sprawling and high-profile “meme stock” litigation and PG&E in its successful defense against a putative class action involving wins in multiple courts.
Activities
September 06, 2024
On September 6, 2024, Lawdragon announced the inclusion of 37 Cravath partners in its list of the “500 Leading Litigators in America.” The list, assembled based on research and vetting by peers, recognizes the “the best litigators the U.S. has to offer” who represent entities in cases spanning the areas of antitrust, finance, government investigations, intellectual property, M&A and securities, among many others.
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