Board and Officer Representation

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.

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.

On June 16, 2017, the Delaware Court of Chancery dismissed a stockholder derivative lawsuit brought against current and former directors and officers of Qualcomm Incorporated alleging, among other claims, that defendants breached their fiduciary duties by allegedly failing to prevent purported FCPA violations by the company. In granting the dismissal, Vice Chancellor Tamika R. Montgomery‑Reeves held that the complaint did not plead sufficient facts to infer that the individual defendants had acted in bad faith or that the directors faced a substantial likelihood of personal liability such that plaintiffs’ failure to make a demand on the board to bring a suit was excused.

On February 6, 2009, the Delaware Chancery Court granted a motion to dismiss in favor of Darwin Deason, the founder and Executive Chairman of Affiliated Computer Services, Inc. (“ACS”). The ruling closes the final chapter in a highly publicized dispute between Deason and the former outside directors of the ACS board.

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.

On November 12, 2024, Cravath partner Rachel Skaistis was profiled in Lawdragon’s “Lawyer Limelight” series alongside her sister Hannah Ross, who is a partner at a different New York-based law firm. In the joint Q&A, Rachel and Hannah discussed their parallel paths to partnership and reflected on their individual practices in securities law. Describing what she is proudest of in her work, Rachel said: “I have had the privilege of working with such amazing lawyers, and I’ve gotten to learn from so many litigation styles. But it is nice to get to a point where you feel like you have found a style of practicing and advising your clients that is true to who you are.” The sisters also spoke about the mentors and role models, including each other, who helped shape their careers as female litigators.

Cravath partner Gary A. Bornstein was named a finalist for The American Lawyer’s 2024 Litigator of the Year award as part of the publication’s seventh annual Industry Awards. The accompanying profile highlights Gary’s “many trial victories” and representation of clients including Epic Games in its antitrust trial victory against Google; Deutsche Telekom in a putative class action and derivative litigation related to T‑Mobile’s $26 billion merger with Sprint; and British American Tobacco in putative class action securities litigation.

Gary A. Bornstein was named to The Hollywood Reporter’s “New York Power Lawyers” list, which recognizes the “25 most powerful entertainment lawyers in New York” and was published in the September 19, 2024 issue of The Hollywood Reporter Magazine. The feature highlighted Gary’s representation of Epic Games in its successful antitrust litigation against Google and of a Special Committee of Paramount Global’s independent directors in connection with litigation matters related to the company’s pending $28 billion merger with Skydance.

Cravath partners Mark I. Greene and Jennifer S. Leete spoke at Stanford Law School’s 29th Annual Directors’ College, which was held from June 24‑26, 2024, in Stanford, CA.