Four Decades for Justice
Activities & Publications
March 18, 2024
On March 18, 2024, Cravath prepared a memo for its clients entitled “A Deeper Dive into the SEC’s Landmark Climate Disclosure Rules for Public Companies.” The memo examines in depth the U.S. Securities and Exchange Commission’s recently adopted final rules requiring climate‑related disclosures for public companies. The memo outlines key takeaways of the final rules; the timeline for compliance; the background of the SEC’s focus on disclosure regarding climate change; the concept of materiality as used in the rules; the rules’ applicability to FPIs and other issuers; ongoing litigation challenging the validity of the rules; and next steps for public companies and their advisors to plan for compliance.
Activities & Publications
March 18, 2024
On March 14, 2024, Cravath hosted its 2024 Web3 Regulatory Forum at its offices in New York. The event brought together lawyers from the Firm, market participants, executives, investors and others for presentations by practitioners, current and former regulators, and interactive roundtables examining the most significant regulatory developments in the digital assets and Web3 space.
Deals & Cases
March 18, 2024
Cravath represented the underwriters in connection with the $1.5 billion registered notes offering of HSBC USA Inc., an indirect wholly owned subsidiary of HSBC Holdings plc, a global financial services company. The transaction closed on March 4, 2024.
Activities & Publications
March 18, 2024
On March 12, 2024, Cravath’s Jeffrey A. Rosen delivered keynote remarks at the Free State Foundation’s Sixteenth Annual Policy Conference at the National Press Club in Washington, D.C. The event convened senior officials and prominent experts from the Federal Communications Commission, other government agencies, industry, academia and think tanks to discuss communications and internet policy, competition policy, regulatory policy, and other law and policy issues. During his keynote, entitled “The Pen and the Phone, and the Regulatory Pendulum Problem,” Mr. Rosen examined the regulatory dynamic that results from the ability of federal agencies to achieve policy goals through regulation and the subsequent challenges as later administrations remove such rules, and then later ones restore them, because agency rules do not necessarily have the same durability as legislation.
Activities & Publications
March 15, 2024
On March 14, 2024, Cravath partner Alyssa K. Caples participated in the 23rd Annual Institute on Securities Regulation in Europe, which was presented in London by the Practising Law Institute from March 13‑14, 2024. Alyssa co‑chaired a panel entitled “Capital Markets Developments – Future Trends & Practical Implications,” which reviewed best practices for reacting and responding to key capital markets developments such as proposed United Kingdom and European Union reforms to the listing regimes and digital bonds.
Deals & Cases
March 15, 2024
Cravath represented Booking Holdings Inc. in connection with its €2.75 billion registered senior notes offering. Booking Holdings Inc. is a leading provider of online travel and travel‑related reservation and search services. The transaction closed on March 1, 2024.
Activities & Publications
March 15, 2024
On March 13, 2024, Cravath partner Daniel J. Cerqueira participated in the International Bar Association’s 2024 Mergers and Acquisitions in Latin America conference, which was jointly presented by the IBA Latin American Regional Forum and the IBA Corporate and M&A Law Committee, and held in Miami, FL. Dan spoke on a panel entitled “Artificial Intelligence in the M&A Process: Contracts Preparation, Due Diligence and Responsibility for Lawyers Using AI,” which reviewed AI’s impact on the M&A process, including how AI can potentially streamline and enhance the contract drafting and review process, and may raise ethical and professional considerations for lawyers leveraging this advanced technology.
Deals & Cases
March 15, 2024
Cravath represented the underwriters in connection with the €550 million registered senior notes offering of Kraft Heinz Foods Company, one of the largest food and beverage companies in the world at the time of the offering. The transaction closed on March 1, 2024.
Deals & Cases
March 15, 2024
Cravath represented SEGRO plc in connection with its private placement of approximately £907 million of new ordinary shares. SEGRO plc is a UK Real Estate Investment Trust (“REIT”) and a leading owner, manager and developer of modern warehouses and industrial property. The shares will be listed on the London Stock Exchange and Euronext Paris. The transaction closed on March 1, 2024.
Accolades
March 14, 2024
On March 13, 2024, Benchmark Litigation honored Cravath partner David R. Marriott as its “Trial Lawyer of the Year” at the publication’s twelfth annual U.S. Awards, which were held in New York City. The awards recognize “the country’s most distinguished litigators and their firms for their exemplary work over the past twelve months.”
Accolades
March 14, 2024
On March 13, 2024, Benchmark Litigation named Cravath partner Daniel Slifkin to its “Hall of Fame” at the publication’s twelfth annual U.S. Awards, which were held in New York City. The awards recognize “the country’s most distinguished litigators and their firms for their exemplary work over the past twelve months.”
Deals & Cases
March 14, 2024
Cravath represented the initial purchasers in connection with the $4.4 billion 144A/Reg. S high‑yield senior secured notes offering of TransDigm Inc., a leading global designer, producer and supplier of highly engineered aircraft components. The transaction closed on February 27, 2024.
Activities & Publications
March 13, 2024
On March 12, 2024, Cravath partner Elad Roisman served as the keynote speaker in a webcast entitled “First Look at the SEC Climate Disclosure Rules,” which was hosted by PwC. During the webcast, Elad discussed how the SEC’s newly released climate disclosure rules will impact public companies and the importance of starting to prepare soon.
Deals & Cases
March 13, 2024
Cravath represented the underwriters in connection with the $1.5 billion registered senior notes offering of Phillips 66 Company, guaranteed by Phillips 66, an energy manufacturing and logistics company with midstream, chemicals, refining, marketing and specialties businesses. The transaction closed on February 28, 2024.
Deals & Cases
March 12, 2024
Cravath represented the initial purchasers in connection with the $400 million 144A/Reg. S high-yield senior notes offering of goeasy Ltd., a leading full-service provider of goods and alternative financial services that improve the lives of everyday Canadians. The transaction closed on February 23, 2024.
Activities & Publications
March 12, 2024
On March 12, 2024, Cravath partner Jeffrey T. Dinwoodie published a short essay in the Yale Journal on Regulation’s Notice & Comment blog entitled “A Way Forward for the SEC and Crypto: The SEC’s History of Tailoring Regulatory Frameworks for Nontraditional Securities.” It discusses the SEC’s history of tailoring the securities regulatory framework to the structural features, uses and risks of nontraditional securities—e.g., asset-backed securities, options and security-based swaps. The essay argues that “investors and the market generally would benefit if the SEC would begin the necessary—and inevitable—work of systematically evaluating and developing a regulatory regime for cryptoasset securities.”
Podcasts
March 12, 2024
Amanda Gold is a partner in the Executive Compensation and Benefits Department at Cravath. In the Season 7 premiere of On Tax, she and fellow Cravath partner and host Len Teti talk about beginning her legal career in Arizona and how she became interested in her current tax-adjacent practice. Amanda also discusses her decision to move to New York and join Cravath.
Deals & Cases
March 08, 2024
Cravath represented the underwriters in connection with the $500 million registered senior notes offering of CBRE Services, Inc., a direct wholly‑owned subsidiary of CBRE Group, Inc. CBRE is the world’s largest commercial real estate services and investment firm, based on 2022 revenue. The transaction closed on February 23, 2024.
Activities & Publications
March 08, 2024
On March 6, 2024, Cravath partner Christine A. Varney participated in the Organisation for Economic Co‑operation and Development Competition Open Day in Paris. The event convened legal practitioners, economists, consultants, in‑house counsel, regulators and academics to discuss cutting‑edge topics recently addressed by the OECD Competition Committee. Christine spoke on a panel entitled “The Relationship Between Competition and Innovation,” which reviewed different approaches competition authorities have used and could use to incorporate innovation when evaluating a transaction or determining if a certain behavior is anti‑competitive, including the consideration of efficiencies, the analysis of other drivers of innovation and the design of remedies and commitments.
Activities & Publications
March 08, 2024
On March 8, 2024, Cravath partner Richard Hall spoke at the 36th Corporate Law Institute, which was hosted by Tulane University Law School from March 7‑8, 2024, in New Orleans, Louisiana, and featured judges and leading professionals to discuss the latest developments in M&A, corporate and securities law. Richard spoke on a panel entitled “Regulatory Merger Control Regimes – Developments in Antitrust and Foreign Direct Investments.”
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