Four Decades for Justice
Cravath represented the underwriters, led by Morgan Stanley and Credit Suisse, in connection with the US$1.25 billion offering of depositary shares representing mandatory convertible preferred stock and the US$1.25 billion debt offering of Alcoa Inc., the global leader in lightweight metals technology, engineering and manufacturing. The proceeds from these offerings will be used to finance the acquisition of Firth Rixson. The transactions closed on September 22, 2014.
The Cravath team included partner Andrew J. Pitts, senior attorney G. Douglas Johnson and associates Rachael G. Coffey, Michael W. Young and Amber Lam on corporate matters and partner Michael L. Schler and associate Jay S. Gill on tax matters.
Deals & Cases
January 09, 2014
On January 9, 2014, Cravath client Alcoa Inc. settled SEC charges and a parallel criminal case concerning alleged FCPA violations in Bahrain following an internal investigation conducted by Cravath and negotiations with both the DOJ and the SEC. Cravath also represented Alcoa in civil litigation concerning these alleged violations and defended Alcoa’s board of directors in related shareholder derivative lawsuits. Both of these matters settled.
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