Dave Stuart Speaks at C5’s 6th Annual Conference on Anti‑Corruption Nordics

On January 30, 2020, Knorr‑Bremse, a global market leader for braking and other systems for rail and commercial vehicles, signed an agreement to acquire R.H. Sheppard Co., Inc. (“Sheppard”), one of the leading manufacturers of steering systems for vehicles on the North American market, from WABCO Holdings Inc. (“WABCO”) for a purchase price of $149.5 million. WABCO is selling Sheppard in connection with the proposed takeover of WABCO by ZF Friedrichshafen AG (“ZF”), and the closing of the Knorr‑Bremse acquisition of Sheppard is contingent upon the closing of the ZF acquisition of WABCO. Cravath is representing Knorr‑Bremse in connection with the transaction.

On December 12, 2018, L Catterton, a global consumer‑focused private equity firm, announced that it has entered into a definitive agreement to acquire Cholula, a leading producer and distributor of hot sauce. Cravath is representing Cholula in connection with the transaction.

On October 4, 2018, the SEC closed its investigation of Cravath client Insys Therapeutics without any enforcement action against the company. The investigation related to Insys’ financial restatement and disclosures, sales and marketing practices and compliance program.

Cravath partner David M. Stuart, assisted by associate Brooke E. Tay, advised Telia Company on U.S. compliance issues related to its sale of Uzbekistan subsidiary Ucell (FE Coscom LLC), which was announced on December 5, 2018. Cravath advised Telia on its obligations with respect to the transaction under its Deferred Prosecution Agreement with the U.S. Department of Justice (“DOJ”) , which arose out of its 2017 resolution of the DOJ’s corruption investigation. Previously, Dave and partner Rachel G. Skaistis served as lead U.S. counsel to Telia Company and its subsidiaries in the three and a half year multinational investigation, which resulted in a global resolution with the DOJ, the U.S. Securities and Exchange Commission and the Dutch Public Prosecution Service.