Cravath’s London Office Moves to 100 Cheapside
Securities Litigation
Cravath’s preeminent securities litigation practice plays a leading role in the field’s most significant and precedent‑setting cases, successfully defending individual and class action litigation in jurisdictions across the country. We consistently take on and win consequential securities matters for our clients, having eliminated claims in excess of $60 billion in recent years. While securities cases rarely go to trial, we draw on our extensive experience to successfully try these matters when necessary. In the past several years, we have tried nearly a dozen actions across the full spectrum of securities and shareholder litigation, including winning the first public market purchase case in which the presumption of reliance was successfully rebutted at a trial on the merits and securing one of the only post-trial defense verdicts decided under the entire fairness standard.
A “dominant presence” representing clients “at the forefront of the most complex disputes,” Cravath’s securities team handles prominent and high-stakes matters for every key category of defendant: issuers, financial institutions and audit firms. (Chambers USA) We have achieved notable resolutions and established important precedent impacting companies operating in all major industries, including consumer products; energy and natural resources; financial services; healthcare and life sciences; media and entertainment; and technology. Our “deep‑bench” of securities litigators devises innovative strategies from the boardroom to the courtroom, giving corporate defendants and their boards of directors greater ammunition to protect critical business interests and leveling the litigation playing field. (The Legal 500 US)
Because of our experience handling the largest and most complex cases, we have particular expertise in coordinating the defense, and often global resolution, of parallel related actions. Our securities litigation practice also extends to internal and governmental investigations and related proceedings, such as shareholder derivative actions and Employment Retirement Income Security Act (ERISA) cases.
Repeatedly named “Securities Practice Group of the Year” by Law360, most recently in 2024, as well as “Securities Litigation Firm of the Year” by Benchmark Litigation, our securities litigation practice has been consistently ranked in the top tier by Benchmark Litigation, Chambers USA, The Legal 500 US and Best Lawyers Best Law Firms. The Firm was awarded New York Law Journal’s overall “Litigation Department of the Year” three times in the past six years, and the publication also has honored the Firm as “Class Action Litigation Department of the Year” and “Finance Litigation Department of the Year.”
In addition, our securities litigators have earned repeated praise from clients and the market, including:
- “Their knowledge of the law and securities litigation specifically is unmatched. They brought their absolute best to the table for our matter.” Client, The Legal 500 US
- Cravath’s securities litigation group is “one of the truly outstanding teams in the country” and has “a long history of involvement in the most high-profile engagements.” Chambers USA
- “Cravath has built a reputation as one of the top law firms that companies rely on for representation when faced with derivative lawsuits, investor class actions and other securities‑related litigation.” Law360
- “The attention to detail, knowledge of the intricacies of our case, and the ability to manage individuals at every level of our organization was wildly impressive. . . . This team was dedicated and invested in our matter, they showed a level of care, compassion and professionalism that is lacking at other firms. This matter was not a check to them, it was an opportunity to build a lasting relationship and make things right for a client that was in a challenging position with litigation.” Client, The Legal 500 US
- “Cravath is a cut above the rest. Their client service is superior. In a bet the company case I would select them as my top pick.” Client, Chambers USA
- “Cravath lawyers are brilliant and tireless. Their team approach to everything is fantastic.” Client, Benchmark Litigation
- “I think that Cravath is the best single law firm I know. They have really deep talent, really a lot of great lawyers, they write well, they can try cases, they are just up and down the line excellent. They also act with total credibility.” Client, Chambers USA
A “dominant presence” representing clients “at the forefront of the most complex disputes,” Cravath’s securities team handles prominent and high-stakes matters for every key category of defendant: issuers, financial institutions and audit firms. (Chambers USA) We have achieved notable resolutions and established important precedent impacting companies operating in all major industries, including consumer products; energy and natural resources; financial services; healthcare and life sciences; media and entertainment; and technology. Our “deep‑bench” of securities litigators devises innovative strategies from the boardroom to the courtroom, giving corporate defendants and their boards of directors greater ammunition to protect critical business interests and leveling the litigation playing field. (The Legal 500 US)
Because of our experience handling the largest and most complex cases, we have particular expertise in coordinating the defense, and often global resolution, of parallel related actions. Our securities litigation practice also extends to internal and governmental investigations and related proceedings, such as shareholder derivative actions and Employment Retirement Income Security Act (ERISA) cases.
Repeatedly named “Securities Practice Group of the Year” by Law360, most recently in 2024, as well as “Securities Litigation Firm of the Year” by Benchmark Litigation, our securities litigation practice has been consistently ranked in the top tier by Benchmark Litigation, Chambers USA, The Legal 500 US and Best Lawyers Best Law Firms. The Firm was awarded New York Law Journal’s overall “Litigation Department of the Year” three times in the past six years, and the publication also has honored the Firm as “Class Action Litigation Department of the Year” and “Finance Litigation Department of the Year.”
In addition, our securities litigators have earned repeated praise from clients and the market, including:
- “Their knowledge of the law and securities litigation specifically is unmatched. They brought their absolute best to the table for our matter.” Client, The Legal 500 US
- Cravath’s securities litigation group is “one of the truly outstanding teams in the country” and has “a long history of involvement in the most high-profile engagements.” Chambers USA
- “Cravath has built a reputation as one of the top law firms that companies rely on for representation when faced with derivative lawsuits, investor class actions and other securities‑related litigation.” Law360
- “The attention to detail, knowledge of the intricacies of our case, and the ability to manage individuals at every level of our organization was wildly impressive. . . . This team was dedicated and invested in our matter, they showed a level of care, compassion and professionalism that is lacking at other firms. This matter was not a check to them, it was an opportunity to build a lasting relationship and make things right for a client that was in a challenging position with litigation.” Client, The Legal 500 US
- “Cravath is a cut above the rest. Their client service is superior. In a bet the company case I would select them as my top pick.” Client, Chambers USA
- “Cravath lawyers are brilliant and tireless. Their team approach to everything is fantastic.” Client, Benchmark Litigation
- “I think that Cravath is the best single law firm I know. They have really deep talent, really a lot of great lawyers, they write well, they can try cases, they are just up and down the line excellent. They also act with total credibility.” Client, Chambers USA
Deals & Cases
February 13, 2025
Dfinity Wins Summary Judgment in Purported Securities Class Action
On February 10, 2025, the Superior Court of California, County of San Mateo, granted summary judgment in favor of Cravath client Dfinity Foundation (“Dfinity), a Swiss not‑for‑profit entity working to create a smart contract platform designed to power blockchain versions of popular internet applications, in purported class action securities litigation.
Deals & Cases
May 02, 2024
Root’s Sixth Circuit Win Affirming Dismissal of Putative Securities Class Action
On April 29, 2024, a three‑judge panel of the U.S. Court of Appeals for the Sixth Circuit ruled in favor of Cravath clients Root, Inc., an insurance company primarily focused on automobile insurance, and certain of its officers and directors (collectively, “Root”) in affirming the U.S. District Court for the Southern District of Ohio’s dismissal of a purported class action securities complaint. The decision is a precedential opinion that creates new law of the circuit.
Deals & Cases
April 29, 2024
Mylan’s Appellate Win Affirming Summary Judgment in Securities Class Action
On Monday, April 15, 2024, the U.S. Court of Appeals for the Second Circuit affirmed the U.S. District Court for the Southern District of New York’s granting of summary judgment in favor of Cravath client Mylan in a securities class action related to Mylan’s marketing, pricing and classification of EpiPen as well as alleged conduct concerning generic drug price fixing and market allocation.
Deals & Cases
November 15, 2023
Robinhood Defeats Certification of Proposed Class Asserting Securities Claims in Sprawling “Meme Stock” Litigation
On November 13, 2023, the U.S. District Court for the Southern District of Florida denied plaintiffs’ motion to certify a class asserting market manipulation claims under the federal securities laws against Cravath clients Robinhood Markets, Inc., Robinhood Financial LLC and Robinhood Securities, LLC (together, “Robinhood”).
Deals & Cases
June 28, 2023
First Solar Wins Dismissal of Putative Securities Class Action
On June 23, 2023, Judge Michael T. Liburdi of the U.S. District Court for the District of Arizona dismissed with prejudice all claims brought against Cravath clients First Solar, Inc. and its executives (collectively, “First Solar”) in a purported securities class action litigation concerning the company’s Series 6 solar module and its Project Development business.
Activities
March 25, 2025
Cravath Partners Featured by Crain’s as 2025 “Notable Litigators and Trial Attorneys”
Cravath partners Gary A. Bornstein and Kevin J. Orsini were named to Crain’s New York Business’s list of “Notable Litigators and Trial Attorneys,” published on March 24, 2025. The list honors “a talented cohort” of litigators and trial attorneys who are “shaping precedent and advocating for their clients across industries and issues.”
Activities
March 04, 2025
Law360 Names Cravath a 2024 “Securities Practice Group of the Year”
On February 25, 2025, Cravath was featured by Law360 as a “Securities Practice Group of the Year.” The profile highlighted the Firm’s “reputation as one of the top law firms that companies rely on for representation when faced with derivative lawsuits, investor class actions and other securities‑related litigation,” and recognized in particular the Firm’s representation of Robinhood in the sprawling “Meme Stock” litigation; Forward Air in its amended agreement to acquire Omni Logistics, resolving previously announced litigation; Root in its Sixth Circuit win affirming the dismissal of a putative securities class action; and Mylan in its appellate win affirming summary judgment in a securities class action.
Activities
February 26, 2025
Law360 Names Cravath a 2024 “Competition Practice Group of the Year”
On February 20, 2025, Cravath was featured by Law360 as a “Competition Practice Group of the Year.” The profile highlighted the Firm’s representations across litigation and antitrust clearance, including a “trailblazing antitrust verdict” for Epic Games in its trial victory against Google and the Firm’s successful antitrust guidance of Cisco Systems in its $28 billion acquisition of Splunk and of Aon PLC in its $13 billion acquisition of NFP. The profile also recognized Cravath’s successful defense of Robinhood Markets Inc. in antitrust claims before the Eleventh Circuit and victories for Meta in putative class action and individual antitrust litigation resulting in the dismissal of all claims.
Activities
February 25, 2025
John White, Michael Arnold, Helam Gebremariam and Ryan Patrone Speak at 41st Annual Federal Securities Institute
Cravath partners John W. White, Michael L. Arnold, Helam Gebremariam and Ryan J. Patrone participated in the 41st Annual Federal Securities Institute, which was hosted by the Business Law Section of the Florida Bar in Tampa, Florida from February 24‑25, 2025 and brought together corporate, M&A and securities practitioners, in‑house counsel, executives and advisors to discuss various topics in corporate law, including structuring acquisitions and capital‑raising transactions, navigating regulatory enforcement issues and corporate governance.
Activities
January 21, 2025
Law360 Recognizes Cravath as a 2024 “Firm of the Year”
On January 20, 2025, Cravath was recognized by Law360 as a “Firm of the Year,” a designation reserved for law firms that steered “some of the largest deals of 2024” and secured “high‑profile litigation wins” while being selected for at least five “Practice Group of the Year” awards in 2024.
Deals & Cases
February 13, 2025
Dfinity Wins Summary Judgment in Purported Securities Class Action
On February 10, 2025, the Superior Court of California, County of San Mateo, granted summary judgment in favor of Cravath client Dfinity Foundation (“Dfinity), a Swiss not‑for‑profit entity working to create a smart contract platform designed to power blockchain versions of popular internet applications, in purported class action securities litigation.
Deals & Cases
May 02, 2024
Root’s Sixth Circuit Win Affirming Dismissal of Putative Securities Class Action
On April 29, 2024, a three‑judge panel of the U.S. Court of Appeals for the Sixth Circuit ruled in favor of Cravath clients Root, Inc., an insurance company primarily focused on automobile insurance, and certain of its officers and directors (collectively, “Root”) in affirming the U.S. District Court for the Southern District of Ohio’s dismissal of a purported class action securities complaint. The decision is a precedential opinion that creates new law of the circuit.
Deals & Cases
April 29, 2024
Mylan’s Appellate Win Affirming Summary Judgment in Securities Class Action
On Monday, April 15, 2024, the U.S. Court of Appeals for the Second Circuit affirmed the U.S. District Court for the Southern District of New York’s granting of summary judgment in favor of Cravath client Mylan in a securities class action related to Mylan’s marketing, pricing and classification of EpiPen as well as alleged conduct concerning generic drug price fixing and market allocation.
Deals & Cases
November 15, 2023
Robinhood Defeats Certification of Proposed Class Asserting Securities Claims in Sprawling “Meme Stock” Litigation
On November 13, 2023, the U.S. District Court for the Southern District of Florida denied plaintiffs’ motion to certify a class asserting market manipulation claims under the federal securities laws against Cravath clients Robinhood Markets, Inc., Robinhood Financial LLC and Robinhood Securities, LLC (together, “Robinhood”).
Deals & Cases
June 28, 2023
First Solar Wins Dismissal of Putative Securities Class Action
On June 23, 2023, Judge Michael T. Liburdi of the U.S. District Court for the District of Arizona dismissed with prejudice all claims brought against Cravath clients First Solar, Inc. and its executives (collectively, “First Solar”) in a purported securities class action litigation concerning the company’s Series 6 solar module and its Project Development business.
Activities
March 25, 2025
Cravath Partners Featured by Crain’s as 2025 “Notable Litigators and Trial Attorneys”
Cravath partners Gary A. Bornstein and Kevin J. Orsini were named to Crain’s New York Business’s list of “Notable Litigators and Trial Attorneys,” published on March 24, 2025. The list honors “a talented cohort” of litigators and trial attorneys who are “shaping precedent and advocating for their clients across industries and issues.”
Activities
March 04, 2025
Law360 Names Cravath a 2024 “Securities Practice Group of the Year”
On February 25, 2025, Cravath was featured by Law360 as a “Securities Practice Group of the Year.” The profile highlighted the Firm’s “reputation as one of the top law firms that companies rely on for representation when faced with derivative lawsuits, investor class actions and other securities‑related litigation,” and recognized in particular the Firm’s representation of Robinhood in the sprawling “Meme Stock” litigation; Forward Air in its amended agreement to acquire Omni Logistics, resolving previously announced litigation; Root in its Sixth Circuit win affirming the dismissal of a putative securities class action; and Mylan in its appellate win affirming summary judgment in a securities class action.
Activities
February 26, 2025
Law360 Names Cravath a 2024 “Competition Practice Group of the Year”
On February 20, 2025, Cravath was featured by Law360 as a “Competition Practice Group of the Year.” The profile highlighted the Firm’s representations across litigation and antitrust clearance, including a “trailblazing antitrust verdict” for Epic Games in its trial victory against Google and the Firm’s successful antitrust guidance of Cisco Systems in its $28 billion acquisition of Splunk and of Aon PLC in its $13 billion acquisition of NFP. The profile also recognized Cravath’s successful defense of Robinhood Markets Inc. in antitrust claims before the Eleventh Circuit and victories for Meta in putative class action and individual antitrust litigation resulting in the dismissal of all claims.
Activities
February 25, 2025
John White, Michael Arnold, Helam Gebremariam and Ryan Patrone Speak at 41st Annual Federal Securities Institute
Cravath partners John W. White, Michael L. Arnold, Helam Gebremariam and Ryan J. Patrone participated in the 41st Annual Federal Securities Institute, which was hosted by the Business Law Section of the Florida Bar in Tampa, Florida from February 24‑25, 2025 and brought together corporate, M&A and securities practitioners, in‑house counsel, executives and advisors to discuss various topics in corporate law, including structuring acquisitions and capital‑raising transactions, navigating regulatory enforcement issues and corporate governance.
Activities
January 21, 2025
Law360 Recognizes Cravath as a 2024 “Firm of the Year”
On January 20, 2025, Cravath was recognized by Law360 as a “Firm of the Year,” a designation reserved for law firms that steered “some of the largest deals of 2024” and secured “high‑profile litigation wins” while being selected for at least five “Practice Group of the Year” awards in 2024.
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Cravath Bicentennial
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