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Paul, Weiss is widely recognized as having one of the nation’s preeminent securities litigation and regulatory practices. For two decades, our lawyers have guided global corporations and financial institutions through a series of “bet-the-company” securities-related crises, consistently reducing or eliminating their most damaging claims and negotiating favorable resolutions.
Goldman Sachs Securities Class Action Plaintiffs Drop Long-Running Case Following Class Decertification
Paul, Weiss secured a final win for Goldman Sachs in a long-running, $13 billion securities class action when the plaintiffs declined a last chance to appeal Goldman’s resounding appellate win decertifying the class and voluntarily dismissed their case, bringing a decade of hard-fought litigation to a close.
Awards & Recognition
Litigation partner Audra Soloway was honored as a Law360 2023 MVP in the Securities category.
The lead plaintiff in a securities fraud class action against Paul, Weiss client Snap Inc., its CEO and former chief business officer asked the U.S. District Court for the Central District of California to dismiss its lawsuit with prejudice.
New York Appellate Division, First Department Holds That the Automatic Discovery Stay of the PSLRA Applies to Actions in State Court
The New York Appellate Division, First Department, held that the PSLRA automatic discovery stay applies to securities class actions pending in state court.
Paul, Weiss achieved a significant victory for Teladoc Health, Inc., and several Teladoc directors and officers, when a New York state court judge dismissed a putative securities class action alleging misrepresentations about Teladoc’s membership growth.
Paul, Weiss won a major victory on behalf of ExxonMobil and certain of its former executives in a long-running putative federal securities class action in the Northern District of Texas, substantially defeating the plaintiff’s class certification motion, in one of very few decisions to apply the Supreme Court’s ruling in Goldman Sachs Group Inc. v. Arkansas Teacher Retirement System (2021).
Awards & Recognition
Litigation partners Kannon Shanmugam and Audra Soloway were recognized in Law360’s “Legal Lions of the Week” column on August 11, alongside co-counsel from Sullivan & Cromwell, for their Second Circuit win in a decade-long investor class action against Goldman Sachs.
In a highly anticipated decision on August 24, the Second Circuit in Kirschner v. JPMorgan Chase Bank, N.A. et al. affirmed dismissal of state-law securities claims because the syndicated term loan in question was not a “security” and therefore not subject to state and federal securities laws and regulations.
Paul, Weiss achieved a significant victory for PayPal Holdings, Inc., and several company executives, obtaining the dismissal with prejudice of all claims asserted in a 2021 securities fraud class action.
Blackstone Wins Unanimous Appellate Victory in $50 Billion Action Brought by Kentucky Attorney General
Paul, Weiss secured a significant appellate win on behalf of The Blackstone Group and Blackstone Alternative Asset Management (BAAM).
Awards & Recognition
Litigation partners Brad Karp, Susanna Buergel and Gregory Laufer were recognized by The American Lawyer’s “Litigation Daily” column for winning the dismissal of a high-stakes putative shareholder class action against electric vehicle manufacturer Nikola and certain current or former officers and directors.
Firm Chairman Brad Karp and litigation partner Susanna Buergel discussed the latest in securities litigation, antitrust and other civil litigation issues as part of the Securities Industry and Financial Markets Association’s (SIFMA) C&L Annual Seminar.
Paul, Weiss secured the dismissal, with prejudice, of a putative securities class action against our client Riskified Ltd. and its officers and directors based on purported omissions and misleading statements issued in connection with Riskified’s July 2021 IPO.
Paul, Weiss won a significant victory in obtaining the dismissal of a consolidated stockholder derivative lawsuit.
Four Paul, Weiss litigation partners will participate in the New York City Bar Association’s Securities Litigation & Enforcement Institute 2023 webcast.