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In the face of turmoil and uncertainty, the world's major financial institutions continue to choose our team to help them manage their business, litigation and reputational risks and thrive in the new economic and regulatory climate. To our clients we are much more than litigators - we are business partners who have a stake in their success.

Client News

Paul, Weiss Wins $1 Billion Judgment for Citi in Parmalat Litigation

Eleven years after Paul, Weiss litigation partners Ted Wells and Jack Baughman won a trial verdict for client Citigroup Inc. in New Jersey, Italy’s Supreme Court ruled on April 16 that the 2008 court award against failed Italian dairy giant Parmalat SpA is final and enforceable in Italy.

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Publications

SEC Issues Statement Highlighting Risks Regarding LIBOR Transition

On July 12, the SEC’s staff issued a statement (the “LIBOR Statement”) urging market participants to prepare for the transition away from the London Interbank Offered Rate (“LIBOR”) reference rate.

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Publications

New York DFS Creates New Cybersecurity Division

On May 22, 2019, the New York State Department of Financial Services (“DFS”) announced the creation of a new Cybersecurity Division, which it described as the “first of its kind at a banking or insurance regulator.” 

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Publications

Court Upholds SEC Authority and Finds Broker-Dealer Liable for Thousands of Suspicious Activity Reporting Violations

On December 11, 2018, the Securities and Exchange Commission (SEC) obtained a victory in its enforcement action against Alpine Securities Corporation, a broker that cleared transactions for microcap securities that were allegedly used in manipulative schemes to harm investors.

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Publications

The New York Court of Appeals Rules That Martin Act Claims Are Subject to a Three-Year Statute of Limitations

On June 12, 2018, in People v. Credit Suisse Securities (USA) LLC, et al., the New York Court of Appeals held that claims brought under the Martin Act—New York’s uniquely broad Blue Sky Law, a powerful tool that permits the Attorney General to bring claims concerning the purchase or sale of securities that do not require proof of scienter or reliance—are subject to a three-year statute of limitations.

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