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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.
Ted Wells and Richard Rosen Recognized by The American Lawyer for Defeating Securities Class Action Against Carnival
- April 12, 2022
Litigation partners Ted Wells and Richard Rosen were recognized by The American Lawyer’s “Litigation Daily” column for winning the dismissal with prejudice of a COVID-19-related securities class action against Carnival Corp. & plc.
The plaintiffs claimed that Carnival failed to disclose the business risks posed by COVID-19, falsely reassured the market that it was in compliance with all applicable regulations promulgated by the CDC, and falsely represented that it had implemented appropriate health and safety protocols on its vessels. The court held, among other things, that the plaintiffs failed to identify any violations of the then-existing regulatory guidance, and that Carnival had clearly and consistently disclosed the potential impact of the pandemic on its operations and financials.