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Industry Overview

Professional Services

For over 100 years, Cravath has been advising clients in the professional services industry. This experience enhances the Firm’s already extensive litigation and corporate resume with a nuanced understanding of professionals’ advisory, litigation, investigatory and regulatory needs. Whether on behalf of accounting firms, investment banks, law firms or management consultants, Cravath attorneys, aided by their training as generalists, bring the Firm’s full resources to bear on all types of matters these clients face.

Our practice includes representing professional companies in connection with significant corporate transactions, including mergers and divestitures, and handling internal corporate and government investigations. We regularly advise PricewaterhouseCoopers LLP (“PwC”), PwCIL and various other PricewaterhouseCoopers network firms in connection with mergers and acquisitions, dispositions, strategic alliances and firm governance matters, both in the United States and around the world. Major transactions have included the merger between Price Waterhouse and Coopers & Lybrand and the sale of PwC’s consulting business to IBM. Our litigators have extensive experience handling regulatory enforcement matters and all types of litigation facing clients in this industry, including shareholder derivative and class action suits involving allegations of professional malpractice, breach of contract, aiding and abetting breach of fiduciary duty and securities fraud.

Some of the companies we have represented and advised include major law firms in the legal sector; Accenture, Huron Consulting Group Inc. and McKinsey & Co. in the consulting field; Deloitte & Touche LLP and PricewaterhouseCoopers LLP, two of the “Big Four” accounting firms; and service providers in other areas.