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.

On April 17, 2026, Cravath of counsel Scott B. Reents participated in Stanford Law School’s Generative Legal 2026 conference in Palo Alto, California, which brought together senior in‑house counsel, law firm partners, technologists, investors and academics to explore how AI is reshaping legal practice. Scott spoke on a panel entitled “Impact of AI on the Legal Industry,” which discussed how generative AI is reshaping the talent pipeline and operating models in law. Panelists examined how junior attorneys will gain foundational experience with AI and how law firms and in‑house departments are adjusting their structures.

On March 19, 2026, Cravath partner Evan Norris participated in the International Chamber of Commerce Mexico and the Anticorruption Commission’s IX Anticorruption Postgraduate Course, hosted in collaboration with Universidad Panamericana. The course brought together high‑level government officials, legal scholars and practitioners for sessions on combatting national and global corruption. Evan’s session was entitled “Beyond the FCPA: Evolving U.S. Approach to Cartel‑Related Bribery and Extortion” and focused on the compliance and enforcement risks for companies in the Americas with potential exposure to criminal groups recently designated by the U.S. State Department as foreign terrorist organizations.

On April 14, 2026, Cravath partner Nicole M. Argentieri participated in the NYU Program on Corporate Compliance and Enforcement’s Spring Compliance Conference. The conference discussed how companies should account for enhanced risk related to the Department of Justice’s focus on cartels, money laundering, government fraud and whistleblowers and how compliance programs should address the changing enforcement landscape. Nicole’s panel was entitled “One Year In: What Lessons Do the Trump Administration’s Enforcement Actions Have for Corporate Compliance Programs?”

Cravath partner Timothy G. Cameron authored the United States chapter of Lexology In‑Depth’s “Class Actions – Edition 10,” which was published on April 13, 2026. The chapter provides an in‑depth overview of class actions in U.S. federal courts and how such actions typically proceed, focusing solely on federal class actions which are established and governed primarily by Rule 23 of the Federal Rules of Civil Procedure.

Cravath partners David J. Kappos and Sharonmoyee Goswami participated in the 33rd Annual Intellectual Property Law & Policy Conference, which was hosted by Fordham Law School from April 8‑10, 2026 in New York. Dave moderated a session on current developments in IP, which discussed AI litigation and the evolution of IP doctrine; remedies in technology litigation; territoriality, extraterritoriality, and the limits of judicial authority; institutional competition and the fragmentation of global IP adjudication; and courts as central actors in technology governance. Sharon participated in a session covering patent and frontier technologies. The discussion topics included: patent law and AI governance; recalibrating patentability for the AI era; inventorship and human control; patent linkage and regulatory coordination; and remedies in ecosystem‑based innovation markets.