Litigation

On February 27, 2026, Paramount Skydance Corporation (“Paramount”) and Warner Bros. Discovery, Inc. ("WBD") announced they have entered into a definitive merger agreement under which Paramount will acquire WBD. Under the terms of the agreement, Paramount will pay $31.00 per share in cash for all outstanding shares of WBD. The transaction values WBD at an enterprise value of $110 billion, and has been unanimously approved by the Boards of Directors of both companies. Cravath is representing Paramount in connection with the transaction.

On January 30, 2026, the California Court of Appeal affirmed the Superior Court of California, County of San Mateo’s grant of summary judgment in favor of Cravath client Dfinity Foundation (“Dfinity”) in a putative securities class action related to Dfinity’s Internet Computer Protocol (“ICP”) master governance tokens. Dfinity is a Swiss not‑for‑profit entity working to create a smart contract platform designed to power blockchain versions of popular internet applications.

On February 4, 2026, the Superior Court of California, County of Alameda, sustained with prejudice Cravath clients Pacific Gas & Electric Company and PG&E Corporation’s (together, “PG&E”) demurrer to a putative negligence class action lawsuit seeking to hold PG&E responsible for increased property insurance premiums across California.

On January 30, 2026, the United States District Court for the Eastern District of New York granted with prejudice Cravath client Elsevier B.V.’s (“Elsevier”) motion to dismiss an antitrust lawsuit alleging an international conspiracy to fix prices and suppress competition in peer‑reviewed scholarly journal publishing.

On December 11, 2025, the U.S. Court of Appeals for the Ninth Circuit unanimously affirmed the U.S. District Court for the Northern District of California’s finding that Apple Inc. (“Apple”) committed civil contempt based on Apple’s willful violations of a permanent injunction that Cravath client Epic Games, Inc. (“Epic”) previously secured against Apple. The Court of Appeals affirmed several contempt sanctions imposed by the District Court against Apple, while modifying or reversing in part certain other sanctions and remanding to the District Court for further proceedings. The Court also unanimously affirmed the denial of Apple’s request to vacate or modify the permanent injunction based on recent California state court decisions and denied Apple’s request to reassign the case to a different district judge on remand.

Cravath partners Karin A. DeMasi, Rachel G. Skaistis, Lauren A. Moskowitz and Vanessa A. Lavely were recognized by Benchmark Litigation in the 2026 edition of “Top 250 Women in Litigation,” which honors “top players in their respective fields.” Inclusion in the list is based on a review of individual litigators’ professional activities, client feedback surveys and one on one interviews. This is the ninth consecutive year Karin and Rachel have been selected for inclusion in the publication. Lauren is recognized for the sixth year, and Vanessa is recognized for the second year.

Cravath partners Sharonmoyee Goswami, Lauren M. Rosenberg, David H. Korn, Brittany L. Sukiennik, Michael J. Zaken and Rebecca J. Schindel were named by Benchmark Litigation to its 2026 “40 & Under List.” The list honors “the top emerging talent in litigation” and was compiled through a process involving peer and client review, along with examination of individual cases.

On August 11, 2026, Bloomberg Law published an article by Cravath partners David J. Kappos, Sasha Rosenthal‑Larrea and Evan Norris, of counsel Dean M. Nickles and associate Lucille D. Finn entitled “Hasty Adoption of Internal AI Tools Can Expose Sensitive Data." The article outlines risks that companies should be aware of when AI tools are rolled out, including the potential for exposure of sensitive company data, and discusses mitigation options such as data access controls, data inventory, data integrity protection and human oversight.

On August 6, 2026, Cravath published the latest edition of its Cravath Data Privacy and Security Review newsletter. The Review provides an overview of recent U.S. state and federal legislative and regulatory developments, alongside U.S. and global enforcement trends and takeaways, in data privacy and cybersecurity for the first six months of 2026. 

On July 12, 2026, Cravath’s Jeffrey A. Rosen, resident in the Firm’s Washington, D.C. office, posted in the Yale Journal on Regulation's Notice & Comment blog "The Economics of Regulatory Reform." The post describes Chapter Two of the White House Council of Economic Advisers’ 2026 Economic Report of the President, “Promoting Prosperity through Regulatory Reform,” which outlines potential economic benefits of regulatory reform including reduced inflation, enhanced economic growth, and other economic benefits.