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 also was named New York Law Journal’s “Litigation Department of the Year” in 2022 and 2019; its “Class Action Litigation Department of the Year” in 2021; and its “Finance Litigation Department of the Year” in 2018.
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 also was named New York Law Journal’s “Litigation Department of the Year” in 2022 and 2019; its “Class Action Litigation Department of the Year” in 2021; and its “Finance Litigation Department of the Year” in 2018.
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”).
Accolades
August 30, 2024
On August 29, 2024, the New York Law Journal published a Q&A with Cravath partners Gary A. Bornstein and Kevin J. Orsini in connection with the Firm’s recognition as a 2024 Litigation Department of the Year finalist. In the Q&A, Gary and Kevin discussed the Firm’s work for clients in the last year, including representing Epic Games in its antitrust litigation challenging core aspects of Google’s app store policies; a string of successes for Robinhood in its “meme stock” litigation; and a victory for PG&E before the California Supreme Court related to power shutoffs to prevent wildfires. Gary and Kevin also highlighted the Firm’s “paramount focus on our clients’ business needs and goals” to deliver “both a positive result in the litigation at hand as well as strategic impact to advance the clients’ long‑term business goals.”
Activities & Publications
August 28, 2024
On August 26, 2024, Cravath partner Helam Gebremariam was featured as a 2024 “Rising Star” by the New York Law Journal. The accompanying profile published by NYLJ highlights Helam’s representation of clients in complex litigation cases, including shareholder derivative, mergers and acquisitions, general commercial, securities and antitrust matters, as well as her pro bono practice work, including on right to counsel and access to justice issues. The feature also highlights Helam’s role as a partner liaison to the Firm’s African American/Black Affinity Group and her roles on the boards of Immigrant Justice Corps, the Vera Institute of Justice, and the NYU School of Law Board of Trustees. Helam also shared advice for young lawyers, emphasizing her belief that “authenticity is critical to forging meaningful connections in all parts of your life.”
Activities & Publications
August 06, 2024
On August 1, 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 second quarter of 2024. This edition also examines several recent litigation decisions and restructuring developments, as well as SEC rulemaking and regulatory updates.
Accolades
July 17, 2024
On June 6, 2024, Cravath partner David R. Marriott was recognized by Leaders League as a leading trial lawyer in the United States. The profile praised Dave’s “uncommon ability to consistently win complex cases of every hue, often against all odds,” as exemplified by his representation of clients including Illumina in its unprecedented antitrust trial victory against the FTC; Amgen in its successful defense against the FTC’s challenge to its $27.8 billion acquisition of Horizon Therapeutics; Louis Dreyfus Company and Imperial Sugar Company in their trial victory over the DOJ; Viatris in its summary judgment win to defeat a securities class action; and photographers Donald Graham and Eric McNatt, who secured favorable SDNY judgments in copyright infringement litigation against appropriation artist Richard Prince and his galleries. The publication deemed his work on the antitrust cases “a string of stunning…victories” in “three of the most significant antitrust cases of the last decade.” Leaders League further remarked that “Marriott never shirks from a challenge, no matter how daunting [the] odds or opposition.”
Accolades
June 13, 2024
The 2024 edition of The Legal 500 United States ranked Cravath in the top tier nationally in 16 areas: Antitrust - Civil Litigation/Class Actions: Defense; Capital Markets: Debt Offerings (Advice to Issuers); Capital Markets: Debt Offerings (Advice to Underwriters); Capital Markets: Global Offerings (Advice to Issuers); Capital Markets: Global Offerings (Advice to Underwriters); Commercial Lending (Advice to Lenders); Employee Benefits, Executive Compensation and Retirement Plans: Transactional; Environment: Transactional; Financial Services Litigation; Fintech (Crypto); General Commercial Disputes; International Tax; M&A: Large Deals ($1bn+); M&A Litigation: Defense; Securities Litigation: Defense; and U.S. Taxes: Non‑contentious. In addition, 75 Cravath attorneys were individually recognized by The Legal 500 United States this year.
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”).
Accolades
August 30, 2024
On August 29, 2024, the New York Law Journal published a Q&A with Cravath partners Gary A. Bornstein and Kevin J. Orsini in connection with the Firm’s recognition as a 2024 Litigation Department of the Year finalist. In the Q&A, Gary and Kevin discussed the Firm’s work for clients in the last year, including representing Epic Games in its antitrust litigation challenging core aspects of Google’s app store policies; a string of successes for Robinhood in its “meme stock” litigation; and a victory for PG&E before the California Supreme Court related to power shutoffs to prevent wildfires. Gary and Kevin also highlighted the Firm’s “paramount focus on our clients’ business needs and goals” to deliver “both a positive result in the litigation at hand as well as strategic impact to advance the clients’ long‑term business goals.”
Activities & Publications
August 28, 2024
On August 26, 2024, Cravath partner Helam Gebremariam was featured as a 2024 “Rising Star” by the New York Law Journal. The accompanying profile published by NYLJ highlights Helam’s representation of clients in complex litigation cases, including shareholder derivative, mergers and acquisitions, general commercial, securities and antitrust matters, as well as her pro bono practice work, including on right to counsel and access to justice issues. The feature also highlights Helam’s role as a partner liaison to the Firm’s African American/Black Affinity Group and her roles on the boards of Immigrant Justice Corps, the Vera Institute of Justice, and the NYU School of Law Board of Trustees. Helam also shared advice for young lawyers, emphasizing her belief that “authenticity is critical to forging meaningful connections in all parts of your life.”
Activities & Publications
August 06, 2024
On August 1, 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 second quarter of 2024. This edition also examines several recent litigation decisions and restructuring developments, as well as SEC rulemaking and regulatory updates.
Accolades
July 17, 2024
On June 6, 2024, Cravath partner David R. Marriott was recognized by Leaders League as a leading trial lawyer in the United States. The profile praised Dave’s “uncommon ability to consistently win complex cases of every hue, often against all odds,” as exemplified by his representation of clients including Illumina in its unprecedented antitrust trial victory against the FTC; Amgen in its successful defense against the FTC’s challenge to its $27.8 billion acquisition of Horizon Therapeutics; Louis Dreyfus Company and Imperial Sugar Company in their trial victory over the DOJ; Viatris in its summary judgment win to defeat a securities class action; and photographers Donald Graham and Eric McNatt, who secured favorable SDNY judgments in copyright infringement litigation against appropriation artist Richard Prince and his galleries. The publication deemed his work on the antitrust cases “a string of stunning…victories” in “three of the most significant antitrust cases of the last decade.” Leaders League further remarked that “Marriott never shirks from a challenge, no matter how daunting [the] odds or opposition.”
Accolades
June 13, 2024
The 2024 edition of The Legal 500 United States ranked Cravath in the top tier nationally in 16 areas: Antitrust - Civil Litigation/Class Actions: Defense; Capital Markets: Debt Offerings (Advice to Issuers); Capital Markets: Debt Offerings (Advice to Underwriters); Capital Markets: Global Offerings (Advice to Issuers); Capital Markets: Global Offerings (Advice to Underwriters); Commercial Lending (Advice to Lenders); Employee Benefits, Executive Compensation and Retirement Plans: Transactional; Environment: Transactional; Financial Services Litigation; Fintech (Crypto); General Commercial Disputes; International Tax; M&A: Large Deals ($1bn+); M&A Litigation: Defense; Securities Litigation: Defense; and U.S. Taxes: Non‑contentious. In addition, 75 Cravath attorneys were individually recognized by The Legal 500 United States this year.
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