Professional Liability

Cravath has extensive experience representing accounting firms, investment banks, law firms, consulting firms, actuaries and other professionals in litigation, investigations and regulatory enforcement matters. We defend professionals in third‑party actions such as those brought by investors, as well as in direct suits brought by clients or former clients of those professionals, including trustees, regulators, receivers or liquidators of insolvent companies standing in the shoes of clients. These lawsuits often involve claims of professional malpractice, breach of contract, fraud, aiding and abetting breach of fiduciary duty and other federal and state law causes of action. We have helped create important precedent on issues of particular relevance to professionals, such as the application of the imputation and in pari delicto doctrines and auditor liability under the federal securities laws.