On May 7, 2025, Cravath partner Elad Roisman was named to Washingtonian’s list of “Washington DC’s 500 Most Influential People of 2025.” Elad’s accompanying profile, in the Banking & Finance category, highlighted his experience as a former Commissioner and Acting Chairman of the U.S. Securities and Exchange Commission and recognized how his “knowledge of SEC requirements” benefits his practice at Cravath. In the profile, Elad also shared the best career advice he ever received: “Go into every meeting expecting to learn something new and be impressed.”

Cravath represented the administrative agent, joint lead arranger and joint bookrunner in connection with $2.725 billion of credit facilities made available to Westinghouse Air Brake Technologies Corporation and certain of its subsidiaries. Westinghouse Air Brake Technologies Corporation is a leading global provider of equipment, systems, digital solutions, and value-added services for the freight and transit rail sectors. The facilities consisted of a $2 billion revolving credit facility and a $725 million delayed draw term loan facility. The transaction closed on April 23, 2025.

On May 5, 2025, Cravath partner Benjamin G. Joseloff spoke at Stanford Law School in Palo Alto, California. Ben provided an invited guest lecture in the law school’s International Economic Law, Business & Policy Colloquium, in which advanced degree students explore selected issues, case studies and policy debates in international economic law and business, global political economy and international economic dispute resolution. Ben’s lecture, entitled “Understanding CFIUS,” explored current legal and policy issues relating to the Committee on Foreign Investment in the United States (CFIUS) and other tools of U.S. economic statecraft.

We are pleased to share the news that Cravath has completed the relocation of its London office to 100 Cheapside. All telephone numbers for Cravath contacts remain the same.

Cravath represented the underwriters in connection with the $6 billion registered fixed‑to‑floating rate notes offering of JPMorgan Chase & Co., a leading global financial services firm. The transaction closed on April 22, 2025.

On May 2, 2025, Cravath partners David J. Kappos, John D. Buretta, Noah Joshua Phillips, Sasha Rosenthal‑Larrea, Evan Norris, Michael L. Arnold and Kimberley S. Drexler were named to Lawdragon’s list of “500 Leading Global Cyber Lawyers” in recognition of their work advising clients on incident response and preparation, corporate governance and disclosure matters, investigations and regulatory enforcement, and transactional and competition matters related to data privacy and cybersecurity. The list recognizes “world leaders in privacy, data, security, incident response, and the deals and lawsuits that revolve around all things Cyber.”

On May 1, 2025, Cravath partner Elad Roisman participated in the 2025 Carnegie‑Rochester‑NYU Conference on Public Policy, hosted by the Tepper School of Business at Carnegie Mellon University, the University of Rochester’s Simon Business School and the New York University Stern School of Business from May 1‑3 in Pittsburgh, Pennsylvania. The event, entitled “The Consequences of AI Use on Society and Policy,” brought together global experts and top academics to explore how AI is reshaping public policy and the economy. Elad spoke on a keynote panel entitled “A Policy Agenda for AI,” which explored how AI is reshaping international labor and financial markets, the implications of these changes for global policy and considerations for policymakers.

Cravath represented the underwriters in connection with the $750 million registered debt offering of Keysight Technologies, Inc., a global leader in high value, mission critical electronic design and test solutions based on sales of tools and software used by engineers to design and optimize electronic products across various industries. The transaction closed on April 17, 2025.

On May 1, 2025, Cravath prepared a memo for its clients entitled “New Executive Order: Enhancing Offshore Critical Mineral Development,” which examines the recently issued executive order, “Unleashing America’s Offshore Critical Minerals and Resources.” The order outlines the administration’s policy objectives for the United States to become a leader in seabed mineral development and mandates certain actions to be undertaken by various federal agencies over the next 60 days in advancement of these policy objectives, including expediting the permitting process for seabed mining, developing a plan to map priority areas of the seabed, and engaging with key partners and allies to jointly develop seabed mineral resources.

On April 30, 2025, Cravath partner Daniel J. Cerqueira participated in the American Bar Association’s 2025 International Law Section Annual Conference, which was held from April 28 to May 1 in New York. The event hosted international attorneys from law firms, private organizations and global governmental institutions to discuss topics related to the theme of “Adapting to Today's International Legal Challenges.”

On April 25, 2025, Cravath partner Jelena McWilliams participated in the 2025 Banking Law Institute, hosted by Minnesota CLE in Minneapolis. The event hosted practitioners from across the country to provide comprehensive and essential updates on the latest regulatory efforts and other issues related to banking law, and to provide practical advice for businesses confronting those developments. Jelena delivered the keynote address, focused on challenges and opportunities for the nation’s financial system in the years ahead.

On April 17, 2025, Cravath partner Jelena McWilliams participated in “The Great Debate: How to Modernize Financial Regulation and Create Economic Stability in a Digital Age,” a program hosted by George Mason University’s Center for Assurance Research and Engineering and the Financial Technology & Cybersecurity Center in Arlington, Virginia. The event convened experts for a discussion of what a financial regulatory structure equipped to deal with the realities of today’s financial services sector should look like. Jelena spoke on a panel entitled “Building a New Regulatory Model.”

On April 30, 2025, Cravath partner Jelena McWilliams participated in the Innovative Payments Association’s 2025 Innovative Payments Conference, which was held from April 29 to May 1 in Washington, D.C. and included representatives of financial institutions, regulators, card organizations, technology providers, processors, law firms and other members of the payments community. Jelena was featured in a fireside chat, during which she drew on her experience as Chair of the Federal Deposit Insurance Corporation and chapter 11 trustee of Synapse Financial Technologies, Inc. to share perspectives on banking regulation, deposit insurance and the complexities of managing financial institution failures.

On April 26, 2025, Cravath partner Jelena McWilliams participated in a TIME100 Talks event in Washington, D.C. Jelena spoke on a panel entitled “The Future of Finance: Can Regulation Power Innovation?,” which explored emerging opportunities and regulatory considerations for blockchain and digital currencies.

On April 29, 2025, Cravath prepared a memo for its clients entitled “IRS and Treasury Publish Final Regulations for Sections 45Y and 48E Technology‑Neutral Clean Electricity Production and Investment Tax Credits.” The memo examines the final regulations regarding the clean electricity production credits available under Section 45Y of the Internal Revenue Code of 1986, as amended, and the clean electricity investment tax credits available under Section 48E of the Code that were published by the U.S. Department of the Treasury and the Internal Revenue Service earlier this year.

Tadd Fowler is the Senior Vice President – Treasurer and Global Taxes at Procter & Gamble. In this episode of On Tax, he and Cravath partner and host Len Teti discuss Tadd’s path from an accounting major in college to his current position, highlighting his unusual trajectory from a public accounting firm to in‑house role and back again. He also reflects on the benefits of focusing on the building blocks of tax, crediting his advisory expertise in part to years of compliance work early in his career.

On April 28, 2025, Cravath partner David J. Kappos participated in Licensing Executives Society International’s annual conference, LESI2025, which was held from April 27‑29 in Singapore. Dave spoke on a panel entitled “The Future of Smart Cities: Navigating the Intersection of Innovation, Technology and Intellectual Property,” which examined the evolving landscape of smart cities and the roles of intellectual property, innovation and technology in fostering sustainable development.

On April 18, 2025, Cravath partner Jesse M. Weiss participated in the Penn Carey Law Antitrust Association’s annual symposium, which was held at the University of Pennsylvania in Philadelphia. The symposium, entitled “Silicon Valley and the Sherman Act: Monopolization and Information Sharing in the Age of AI,” convened academics and antitrust practitioners to discuss topics related to monopolization and the implications of advancements in AI and technology for antitrust law. Jesse spoke on a panel about monopolization cases and issues in technology industries.

Cravath partner Michael L. Arnold participated in the American Bar Association’s 2025 Business Law Section Spring Meeting, which was held from April 24‑26, 2025 in New Orleans. Michael moderated a session entitled “Dialogue with the Director,” interviewing Cicely LaMothe, Acting Director of the Division of Corporation Finance at the U.S. Securities and Exchange Commission, and additionally spoke on a panel reviewing recent developments at the SEC.

On April 24, 2025, Managing IP honored Cravath at the publication’s 2025 Americas Awards, which recognize “in‑house teams, firms, individuals and corporations behind the most innovative and challenging IP work of the past year, as well as those driving the international market.” The Firm was honored with an Impact Case of the Year award for its successful representation of client Sherman Nealy in an appeal before the U.S. Supreme Court, which ruled the Copyright Act entitles a copyright owner to obtain damages for any timely filed infringement claim, regardless of when the infringement occurred.