The Paul, Weiss Litigation Department is led by a team of the country’s most accomplished trial lawyers. Our litigators in New York and Washington, D.C. handle the most complex and demanding lawsuits, class actions, government investigations, criminal prosecutions and restructurings. Our clients include Fortune 50 corporations and other prominent companies in the financial services, investment, medical device, pharmaceutical, sports, technology, energy, media and insurance industries. Every day, we are called on by chief executives, board chairs, general counsel, investors and entrepreneurs for our unmatched trial skills, sophisticated business judgment and renowned strategic advice.

Representative Engagements

The Paul, Weiss Litigation Department continues to be involved in cases that shape financial markets and corporate boardrooms, representing many of the world's leading corporations in their most sensitive and complex matters. Client matters have included:

  • Automatic Data Processing (ADP) in the defense of a major federal False Claims Act case that challenged the three companies' practice of retaining the interest earned on funds held from their clients that were ultimately due, and timely paid, to the government as tax payments. The court granted in full ADP's (and the other defendants') motions to dismiss.
  • American International Group (AIG) in the successful settlement of a securities fraud class action and derivative lawsuits seeking over $20 billion in damages related to allegations of anticompetitive market division, accounting violations and stock price manipulation under a former AIG CEO.
  • Amgen Inc., a leading biotechnology company, in litigation regarding the first two challenges to the Biologics Price Competition and Innovation Act, where competitors Sandoz and Apotex have sought FDA approval of “biosimilar”, or biologically similar medical therapies, of Amgen products. 
  • The American Society of Composers, Authors and Publishers (ASCAP), the oldest and largest U.S. music performing rights organization, in numerous antitrust-related issues, including in achieving a favorable outcome at trial to determine the reasonable license fee for the use of musical works in the ASCAP repertory by music service Pandora.
  • Bank of America (BofA) in the successful settlement of a securities class action alleging  BofA and its directors and officers made material misstatements and omissions when seeking shareholder approval for the company’s merger with Merrill Lynch & Co., Inc. in 2008. The suit sought $25 billion in damages and was settled for less than 10 cents on the dollar.
  • Becton, Dickinson and Company (BD), a global medical technology company, in numerous antitrust-related matters over the past decade, including most recently in:
    • the successful resolution of a nationwide putative antitrust class action brought by medical device distributors, hospitals and pharmacies claiming exclusion from various medical device markets due to allegedly exclusionary contracts with group purchasing organizations and hospital networks. Paul, Weiss successfully negotiated court-approved settlements with both the indirect purchasers and direct purchasers, bringing years of litigation to a close; and
    • the dismissal of an ongoing antitrust lawsuit brought by competitor Retractable Technologies, Inc. (RTI) regarding RTI’s alleged exclusion from various medical device markets. Paul, Weiss defeated 11 of the 12 antitrust claims at trial and secured the dismissal of the final claim on appeal, achieving a landmark appellate victory reversing a $340 million jury verdict and rendering judgment for BD.
  • Citigroup:
    • in defeating two separate arbitral claims brought by the Abu Dhabi Investment Authority (ADIA) in connection with losses the sovereign wealth fund sustained in its $7.5 billion investment in Citigroup; 
    • against a $2.2 billion claim by Parmalat (reduced from more than $30 billion in damages on our successful summary judgment motion) for aiding and abetting the company's directors' breach of fiduciary duty in stealing billions from the company. After a five-month trial, the jury found that Citigroup was not liable and returned a verdict worth more than $430 million (including interest) on Citigroup's counterclaims;
    • and its directors and officers in securing the dismissal of a derivative claim seeking to hold defendants liable for Citigroup's subprime losses; 
    • in achieving a complete victory in a multibillion dollar lawsuit brought by the London-based private equity firm Terra Firma. Terra Firma, and its Chairman Guy Hands, claimed they were defrauded in connection with the purchase of the music company EMI in 2007; 
    • in arguably the most important regulatory decision in the past decade, SEC Citigroup, which upheld the ability of corporations to resolve federal regulatory matters without having to admit liability; 
    • in securing the dismissal, affirmed on appeal, of an $800 million “holder” claim brought by an investor who alleged Citigroup fraudulently misrepresented its exposure to subprime-related assets between 2007 and 2009; 
    • in two Financial Industry Regulatory Authority arbitrations stemming from the massive failure of the auction rate securities (ARS) and monoline insurance markets in 2007–2008; 
    • in securing the dismissal of a “stock drop” case, affirmed on appeal, of claims made by retirement plan participants alleging that Citigroup should not have allowed them to invest in Citigroup stock from 2008 to 2009, when the value of their investments allegedly dropped by more than $1.5 billion; 
    • in the favorable settlement of a several hundred million-dollar securities fraud case in which Allied Irish Banks alleged Citibank was complicit in a rogue trading scheme;
    • in representing current and former officers of Citigroup Inc. in a shareholder derivative action before the Delaware Court of Chancery; 
    • in connection with an SEC investigation and settlement regarding the marketing of a foreign exchange trading strategy; 
    • and certain affiliates in a multidistrict putative class action filed in November 2015, alleging that Citi and various other banks conspired to reduce potential competition in interest rate swap trading and to raise prices for purchasers of the swaps. The consolidated action includes a putative class of purchasers of the interest rate swaps and individual plaintiffs who allegedly attempted to launch a competitive form of interest rate swap trading; and 
    • in a successful resolution in May 2017 of a major multi-year, global anti-money laundering (AML) probe. 
  • Deutsche Bank in multi-regulator, multi-jurisdictional inquiries concerning the setting of numerous Interbank Offered Rates (IBORs) — the largest investigations ever faced by the bank — and in 50-plus individual and class actions concerning IBOR rates in multiple currencies. Paul, Weiss negotiated coordinated resolutions of the investigations with U.S. and UK authorities, secured the dismissal of numerous private claims and negotiated resolutions in four major class actions.
  • ExxonMobil Corp. and affiliates:
    • in climate change-related investigations brought by a coalition of state attorneys general deploying untested liability theories, and in concurrent litigation against two of those attorneys general in federal court for violations of ExxonMobil’s constitutional rights. The firm is also advising ExxonMobil on climate change-related issues arising in various proceedings worldwide; and 
    • in connection with two lawsuits filed in the District of Columbia alleging claims under the Alien Tort Statute and under Indonesian law in connection with the operation of a natural gas facility in Indonesia. 
  • Genentech, Inc., in several complex litigations involving the Cabilly patents, one of the fundamental innovations of modern molecular medicine - the production of genetically modified antibodies that can be used to treat human disease, especially cancer. The matters include both patent infringement and antitrust claims.
  • JPMorgan Chase & Co. in the litigation and settlement of a securities class action and several opt-out cases brought by investors in The Bear Stearns Companies Inc. who alleged that Bear Stearns’s public disclosures misrepresented the company’s financing, leverage, liquidity, capital, risk management and mortgage business prior to its near-collapse and subsequent acquisition by JPMorgan Chase in 2008.
  • Mastercard in numerous government and private antitrust actions over the past decade, including most recently in:
    • the defense of three pending antitrust putative class actions filed by independent ATM operators, the National ATM Counsel and ATM consumers alleging that Mastercard’s ATM access fee non-discrimination rule violates federal and state antitrust laws as well as consumer protection laws;
    • the defense of an ongoing consolidated multidistrict class action brought by a putative class of every U.S. merchant that accepts Mastercard and Visa payment cards alleging that Mastercard, Visa and several banks operated a price-fixing scheme in setting the interchange fees that merchants pay for the right to accept their payment cards. Paul, Weiss also represents Mastercard in related individual actions brought by large merchants and merchant trade associations;
    • securing the dismissal, affirmed on appeal, of a putative state antitrust class action brought by all consumers in the state of New Mexico seeking to recover overcharges allegedly arising out of a tying arrangement between Mastercard credit and debit cards;
    • the successful settlement of a DOJ probe regarding the legality of the No Surcharge Rule, which prohibits merchants from charging higher prices to consumers who pay by card. The settlement resulted in only modest changes to Mastercard’s practices related to merchant discounting and helped avoid further enforcement actions and challenges brought under state antitrust laws; and
    • the defense of a putative antitrust class action brought on behalf of U.S. merchants alleging that Mastercard, Visa, American Express and Discover, together with issuing banks, conspired to shift fraud costs for certain card transactions from the issuing banks onto U.S. merchants.
  • Merck & Co.:
    • along with its former subsidiary Medco Health Solutions, Inc. and five of the company’s officers and directors in securing the dismissal with prejudice, affirmed on appeal, of a securities class action and derivative action alleging the misstatement of company revenues by billions of dollars; 
    • in the successful resolution of SEC and DOJ investigations, class action and individual shareholder lawsuits arising from the sale, marketing and voluntary withdrawal of Vioxx from the market. After four years, the SEC closed its investigation into the company’s public disclosures concerning the drug without taking any action. The DOJ investigation, class action and individual shareholder suits favorably settled thereafter; and 
    • along with Schering-Plough and certain of the companies’ current or former directors and officers in several securities, derivative, ERISA and opt-out complaints, arising out of Merck’s cholesterol-lowering drug ,Vytorin. Paul, Weiss settled the main action before trial and obtained dismissal of the securities fraud claims asserted in the opt-out cases. 
  • Morgan Stanley & Company in the ongoing defense of a consolidated class action multidistrict lawsuit alleging that the largest financial institutions were involved in bid-rigging auctions for U.S. Treasury securities. Paul, Weiss was tapped by all 26 defendants, of which each are separately represented by a major law firm, to serve on the defense steering committee.
  • National Football League in defending and obtaining a landmark settlement of hundreds of concussion lawsuits brought by more than 5,000 former NFL players arising from the alleged long-term effects of concussions.
  • Nichia Corporation in the enforcement of its patent rights to white LEDs in ongoing nationwide litigations against multiple alleged infringers. In related USPTO challenges, the PTAB declined to institute IPR proceedings on four petitions brought by one of the alleged infringers.
  • Paramount Pictures Corporation in a trial in the U.S. District Court for the Southern District of New York. Paramount had been sued by four investors in a slate of 25 films. The trial resulted in a judgment dismissing all claims against Paramount including claims of federal securities fraud, common law fraud and unjust enrichment.
  • Philip Morris USA, an Altria Group company, in the company’s first “Lights” class action to reach a jury. Plaintiffs claimed that they were entitled to billions of dollars of damages for purchasing and smoking Marlboro Lights. A mistrial resulted in no liability for the company.

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