ProfessionalsAndrew J. Ehrlich

Andrew J. Ehrlich
Partner
Tel: +1-212-373-3166
Fax: +1-212-492-0166
emailaehrlich@paulweiss.com
1285 Avenue of the Americas
New York,
NY
10019-6064
Fax: +1-212-492-0166
A partner in the Litigation Department and co-chair of the Securities Litigation and Enforcement Group, Andrew J. Ehrlich has experience representing clients on a broad variety of complex commercial litigation matters, specializing in securities litigation and regulatory defense. Andrew has expertise in representing clients in complex, and often high-profile, matters involving federal and state regulatory inquiries, as well as civil litigation in multiple jurisdictions. Andrew has significant high-stakes trial experience in state and federal courts, as well as before arbitration tribunals.
EXPERIENCE
Andrew has represented clients in a wide range of their most demanding contested matters; recently, Andrew:
- Served as trial counsel to Paramount Pictures in October 2014, in a securities fraud trial concerning a film financing, in which the court dismissed the claims at the conclusion of plaintiffs' case.
- Was part of the trial team for Pfizer in a securities litigation asserting misstatements and omissions concerning the drugs Celebrex and Bextra. In June 2014, we obtained summary judgment and dismissal of all claims following exclusion of plaintiffs' damages expert just weeks before trial.
- Obtained summary judgment, in 2013, for Citigroup Inc. in a case alleging breaches of fiduciary duty in connection with the sale of limited partnership interests in a feeder fund, and in September 2014 successfully argued the appeal of the dismissal.
- Obtained summary judgment in a defamation and tortious interference claim against Deloitte & Touche LLP, which was in 2013 affirmed by the Nevada Supreme Court in an opinion that established the standards for speech privileges in Nevada.
- Has represented a major credit rating agency in numerous matters arising out of the 2008 credit crisis, including state and federal regulatory investigations related to ratings of mortgage-backed securities, and in a major multi-district civil litigation.
- Argued and won summary judgment, in 2012, in New York Supreme Court, of a claim for tortious interference with contract on behalf of Eton Park Capital Management.
- Obtained dismissal, on a motion to dismiss, in 2011, of a securities fraud class action in the Southern District of New York on behalf of Liz Claiborne Inc.
- Argued and won, in 2011, a motion to dismiss an ADEA claim asserted against Apollo Investment Corp. in the Southern District of New York.
- Argued and won, in 2010, a motion to dismiss a claim for breach of a guarantee agreement against Apollo Investment Corp. in New York Supreme Court.
- Has represented numerous hedge fund and private equity fund clients in sensitive regulatory matters involving the Securities & Exchange Commission, the New York Attorney General, the New York Department of Financial Services, and the Department of Justice.
- Has represented numerous bondholder and creditors' committees in contested restructuring matters, including as lead trial counsel in two contested confirmation hearings.
Andrew has substantial trial experience in very significant contested commercial matters. In addition to the matters mentioned above, Andrew:
- Served as lead trial counsel in a confidential employment arbitration for an investment manager that resulted in a favorable settlement following the claimant's testimony.
- Successfully represented Oaktree Capital Management, L.P., in connection with contested sale hearings for maritime cargo vessels in various bankruptcy proceedings.
- Served as lead trial counsel to the bondholder committee that, following a 17-day trial, led to the groundbreaking "reinstatement" plan in the bankruptcy reorganization of Charter Communications.
- Successfully defended Citigroup, in New Jersey state court, against claims arising out of the collapse of Parmalat, defeating claims worth more than $10 billion and achieving a $365 million counterclaim jury verdict for Citigroup, following a six-month jury trial.
- Successfully defended Citigroup and Salomon Smith Barney against a $900 million fraud and breach of fiduciary duty claim, the second-largest arbitration case ever filed with the NASD. After a three-week hearing in Denver, the arbitrators ruled for Citigroup and Salomon Smith Barney, and dismissed all claims in their entirety.
Andrew maintains an active pro bono practice. Most recently, he was part of the Paul, Weiss team that represented Edith Windsor in the landmark case United States v. Windsor, in which the United States Supreme Court struck down a key provision of the Defense of Marriage Act. He has, for eight years, served as lead counsel in a post-conviction proceeding on behalf of an individual on Alabama's death row, recently securing a reversal in the Alabama Supreme Court of a lower court's dismissal of the post-conviction petition. Andrew is a director of Volunteers of Legal Services.
Andrew served as the articles and commentaries chair of the Harvard Law Review and was an oralist on the winning team of the Ames Court Competition at Harvard Law School in 2000. Andrew was recognized in the 2018 edition of Chambers USA in the Litigation: Securities (NY) category and is recommended by The Legal 500 in Securities Litigation – Defense.
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- Nov 23, 2020
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- Nov 03, 2020
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- Sep 29, 2020
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- Aug 28, 2020
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- Aug 12, 2020
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- Aug 11, 2020
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- Apr 10, 2020
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- Mar 31, 2020
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- Mar 27, 2020
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- Mar 23, 2020
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- Mar 05, 2020
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- Feb 18, 2020
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- Feb 18, 2020
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- Jan 23, 2020
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- Jan 08, 2020
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- Jan 06, 2020
- Client News
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Ares Management and Oaktree Capital Complete Preferred Equity Investment in Infrastructure and Energy Alternatives
- Nov 14, 2019
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Supreme Court to Consider if the SEC May Collect Disgorgement in Civil Enforcement Proceedings
- Nov 04, 2019
- Publications
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Federal Judge Blocks “Public Charge” Rule
- Oct 11, 2019
- Client News
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Paul, Weiss, Legal Aid Society and CCR Sue to Block Proposed “Public Charge” Rule
- Aug 27, 2019
- Client News
Paul, Weiss, Legal Aid Society and CCR Sue to Block Proposed “Public Charge” Rule
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In re Everquote: New York Supreme Court’s Commercial Division Holds that Automatic Stay of Discovery Applies in Securities Act Class Actions Filed in State Court
- Aug 21, 2019
- Publications
In re Everquote: New York Supreme Court’s Commercial Division Holds that Automatic Stay of Discovery Applies in Securities Act Class Actions Filed in State Court
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Paul, Weiss Wins $78 Million Judgment for Oaktree Capital on Counterclaims Against Taiwanese Shipping Magnate
- May 23, 2019
- Client News
Paul, Weiss Wins $78 Million Judgment for Oaktree Capital on Counterclaims Against Taiwanese Shipping Magnate
Paul, Weiss won a $78 million judgment against a Taiwanese shipping magnate on behalf of our client Oaktree Capital Management, L.P.
Travel Ban Case to Go Forward
- May 02, 2019
- Client News
Travel Ban Case to Go Forward
Paul, Weiss secured a major victory on behalf of four pro bono clients challenging the constitutionality of President Trump’s travel ban order when a Maryland federal court judge denied the government’s motion to dismiss in the…
Supreme Court Passes–For Now–on Rejecting an Implied Private Right of Action for Tender Offer Claims
- Apr 25, 2019
- Publications
Supreme Court Passes–For Now–on Rejecting an Implied Private Right of Action for Tender Offer Claims
On April 23, 2019, the Supreme Court issued a one-line per curiam order in Emulex v. Varjabedian: “The writ of certiorari is dismissed as improvidently granted.”
Paul, Weiss Wins $1 Billion Judgment for Citi in Parmalat Litigation
- Apr 18, 2019
- Client News
Paul, Weiss Wins $1 Billion Judgment for Citi in Parmalat Litigation
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U.S. Supreme Court Holds that Primary Liability under the Federal Securities Laws May Be Based on Misstatements that the Defendant Did Not Make
- Mar 28, 2019
- Publications
U.S. Supreme Court Holds that Primary Liability under the Federal Securities Laws May Be Based on Misstatements that the Defendant Did Not Make
The Supreme Court held in Lorenzo v. Securities & Exchange Commission that under certain circumstances a person who does not “make” a misstatement may nonetheless be held primarily liable.
10th Circuit Reinstates “Conduct-and-Effects” Test in SEC Enforcement Actions, Superseding Morrison
- Jan 30, 2019
- Publications
10th Circuit Reinstates “Conduct-and-Effects” Test in SEC Enforcement Actions, Superseding Morrison
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Delaware Court of Chancery Invalidates Federal Forum Selection Provisions for Claims Arising Under the Securities Act of 1933
- Jan 09, 2019
- Publications
Delaware Court of Chancery Invalidates Federal Forum Selection Provisions for Claims Arising Under the Securities Act of 1933
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Paul, Weiss Serves as Co-Counsel in N.C. Photo Voter ID Challenge
- Dec 19, 2018
- Client News
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Paul, Weiss Obtains Dismissal of Patent Infringement Claims Against Oaktree Capital Management
- Dec 07, 2018
- Client News
Paul, Weiss Obtains Dismissal of Patent Infringement Claims Against Oaktree Capital Management
Paul, Weiss secured the dismissal of claims against our client Oaktree Capital Management, L.P.
Missouri Prisoner Plaintiffs Win Appeal Supported by Paul, Weiss Amicus Brief
- Dec 06, 2018
- Client News
Missouri Prisoner Plaintiffs Win Appeal Supported by Paul, Weiss Amicus Brief
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Pacific Drilling Emerges From Chapter 11
- Nov 20, 2018
- Client News
Pacific Drilling Emerges From Chapter 11
Paul, Weiss advised an ad hoc committee of creditors in connection with the successful reorganization of Pacific Drilling S.A. pursuant to a chapter 11 plan.
Paul, Weiss Files Amicus Brief Opposing Ban on Transgender Military Service Members
- Oct 29, 2018
- Client News
Paul, Weiss Files Amicus Brief Opposing Ban on Transgender Military Service Members
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The Financial Crisis 10 Years Later: Lessons Learned
- Sep 15, 2018
- Publications
The Financial Crisis 10 Years Later: Lessons Learned
Ten years after the collapse of Lehman Brothers, market participants and other global companies operate in a markedly changed regulatory enforcement and compliance landscape. This memorandum discusses the legal and business…
Supreme Court Rules That SEC Administrative Law Judge Appointments Violate The Constitution
- Jun 22, 2018
- Publications
Supreme Court Rules That SEC Administrative Law Judge Appointments Violate The Constitution
On June 21, 2018, the Supreme Court held in Lucia v. SEC, No. 17-130, that the process by which the Securities and Exchange Commission (SEC) selects administrative law judges (ALJs) violates the U.S. Constitution.
The New York Court of Appeals Rules That Martin Act Claims Are Subject to a Three-Year Statute of Limitations
- Jun 14, 2018
- 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…
U.S. Supreme Court Rules That Class Action Tolling Does Not Extend to Successive Class Actions Filed After Running of the Statute of Limitations
- Jun 12, 2018
- Publications
U.S. Supreme Court Rules That Class Action Tolling Does Not Extend to Successive Class Actions Filed After Running of the Statute of Limitations
On June 11, 2018, the U.S. Supreme Court held in China Agritech, Inc. v. Resh, No. 17-432, 584 U.S. __ (2018), that the class action tolling rule established more than four decades ago does not extend to successive class actions filed …
United States v. Litvak: Second Circuit Rejects Challenge to the Materiality of Misstatements but Overturns Conviction a Second Time Due to Agency-Relationship Testimony
- May 07, 2018
- Publications
United States v. Litvak: Second Circuit Rejects Challenge to the Materiality of Misstatements but Overturns Conviction a Second Time Due to Agency-Relationship Testimony
On May 3, 2018, for the second time, the Court of Appeals for the Second Circuit overturned the conviction of former Jefferies trader Jesse Litvak for alleged misstatements to an RMBS transaction counterparty.
Second Circuit Confirms that Statements of Opinion Need Not Be Accompanied by Disclosure of All Underlying Conflicting Information
- May 03, 2018
- Publications
Second Circuit Confirms that Statements of Opinion Need Not Be Accompanied by Disclosure of All Underlying Conflicting Information
On Tuesday, May 1, 2018, Paul, Weiss obtained a significant victory for Pretium Resources Inc. when the United States Court of Appeals for the Second Circuit affirmed dismissal of a securities fraud class action against Pretium.
U.S. Supreme Court Confirms State Court Jurisdiction Over Securities Act Class Actions
- Mar 23, 2018
- Publications
U.S. Supreme Court Confirms State Court Jurisdiction Over Securities Act Class Actions
The U.S. Supreme Court recently resolved a split among state and federal courts about whether the Securities Litigation Uniform Standards Act of 1998 divested state courts of jurisdiction over class actions asserting claims under the…
In Recent Healthcare Fraud Lawsuit, the U.S. Department of Justice Embraces a More Expansive View of Private Equity Firm Liability for Portfolio Company Conduct
- Mar 08, 2018
- Publications
In Recent Healthcare Fraud Lawsuit, the U.S. Department of Justice Embraces a More Expansive View of Private Equity Firm Liability for Portfolio Company Conduct
The DOJ recently intervened in a healthcare fraud lawsuit against a compounding pharmacy company. The DOJ’s decision to name the manager of the private equity fund that owned the pharmacy may signal a more expansive view of manager…
Leaders of SEC Enforcement Division Discuss Priorities and Recent Developments
- Feb 28, 2018
- Publications
Leaders of SEC Enforcement Division Discuss Priorities and Recent Developments
Senior representatives of the SEC’s Enforcement Division recently discussed enforcement priorities, developments and other issues of current interest at the Practising Law Institute’s annual “SEC Speaks” event. Although the…
Beyond Disgorgement: The Impact of Kokesh on the SEC’s Pursuit of Equitable Remedies
- Feb 23, 2018
- Publications
Beyond Disgorgement: The Impact of Kokesh on the SEC’s Pursuit of Equitable Remedies
Since the Supreme Court ruled last June in Kokesh v. SEC that disgorgement claims are subject to a five-year statute of limitations, both lower courts and the SEC have grappled with questions the Court left unresolved, including…
U.S. Supreme Court Narrows Scope of Whistleblower Anti-Retaliation Protections
- Feb 22, 2018
- Publications
U.S. Supreme Court Narrows Scope of Whistleblower Anti-Retaliation Protections
The Supreme Court held yesterday that individuals who have reported alleged misconduct internally, but not to the SEC, are not covered by the anti-retaliation provisions of the Dodd-Frank Act, resolving a circuit split on the…
Recent Decision Finds Waiver Based on “Oral Downloads” to the SEC
- Feb 14, 2018
- Publications
Recent Decision Finds Waiver Based on “Oral Downloads” to the SEC
A federal magistrate judge in the Southern District of Florida recently ruled that a law firm had waived work product protection over notes and memoranda of witness interviews when it provided “oral downloads” of those interviews to…
Second Circuit Rules That Evidence Rebutting Presumption of Reliance Need Not Be Conclusive
- Jan 17, 2018
- Publications
Second Circuit Rules That Evidence Rebutting Presumption of Reliance Need Not Be Conclusive
In Arkansas Teacher Retirement System v. Goldman Sachs Group, Inc., No. 16-250 (2d Cir. Jan. 12, 2018), the Second Circuit vacated the certification of a securities fraud class action due to two errors by the district court in its…
Paul, Weiss Files Amicus Brief in Partisan Gerrymandering Case Before the Pennsylvania Supreme Court
- Jan 05, 2018
- Client News
Paul, Weiss Files Amicus Brief in Partisan Gerrymandering Case Before the Pennsylvania Supreme Court
Paul, Weiss filed an amicus curiae brief urging the Pennsylvania Supreme Court to find that Pennsylvania’s congressional map—under which Democrats received a majority of the two-party vote in 2012 but won only 5 out of the 18 seats—is …
Bulk of Wells Fargo Shareholder Derivative Suit Survives Motions to Dismiss
- Dec 04, 2017
- Publications
Bulk of Wells Fargo Shareholder Derivative Suit Survives Motions to Dismiss
A judge in the Northern District of California recently allowed the bulk of claims to advance in the Wells Fargo shareholder litigation. Plaintiffs seek to hold the board liable for alleged sales practices that have received…
Second Circuit Holds That Direct Evidence of Price Impact Is Not Always Necessary to Establish Market Efficiency Under the Fraud-on-the-Market Doctrine
- Nov 09, 2017
- Publications
Second Circuit Holds That Direct Evidence of Price Impact Is Not Always Necessary to Establish Market Efficiency Under the Fraud-on-the-Market Doctrine
Recent Public Remarks by Co-Directors of SEC Enforcement Division Signal Potential Changing Enforcement Priorities
- Oct 31, 2017
- Publications
Recent Public Remarks by Co-Directors of SEC Enforcement Division Signal Potential Changing Enforcement Priorities
Recent remarks by top officials at the SEC’s Division of Enforcement suggest changes in the enforcement environment, including a de-emphasis on the “broken windows” strategy focusing on minor violations and on settlements requiring…
Paul, Weiss Submits Amicus Brief on Behalf of Cities and Local Officials Challenging Texas's SB4 in the Fifth Circuit
- Oct 20, 2017
- Client News
Paul, Weiss Submits Amicus Brief on Behalf of Cities and Local Officials Challenging Texas's SB4 in the Fifth Circuit
Paul, Weiss submitted an amicus curiae brief to the Fifth Circuit on behalf of the City of Palmview, the City of San Marcos and 31 local public officials in support of the City of El Cenizo’s and other plaintiffs’ successful…
Andrew Ehrlich to Participate in Securities Law Enforcement Forum
- Oct 26, 2017
- Events
Andrew Ehrlich to Participate in Securities Law Enforcement Forum
Litigation partner Andrew Ehrlich will speak on a panel “Litigating Securities Fraud Cases Against the SEC and DOJ” at the annual Securities Enforcement Forum 2017.
Securities Cases to Watch this Term at the Supreme Court
- Oct 03, 2017
- Publications
Securities Cases to Watch this Term at the Supreme Court
For the upcoming term, the Supreme Court is once again taking up significant securities litigation and enforcement matters. In this alert, we preview three cases already on the Court’s docket, and highlight a cert petitions of note.
The Impact of CalPERS v. ANZ Securities on Securities Litigation
- Sep 18, 2017
- Videos
The Impact of CalPERS v. ANZ Securities on Securities Litigation
In CalPERS v. ANZ Securities, the Supreme Court ruled that the filing of a class action does not toll the Securities Act’s three-year statute of repose.
Divided Second Circuit Panel Overrules Prior Newman Insider Trading Decision
- Aug 25, 2017
- Publications
Divided Second Circuit Panel Overrules Prior Newman Insider Trading Decision
On Wednesday, in United States v. Martoma, the United States Court of Appeals for the Second Circuit overruled its own 2014 decision in United States v. Newman and altered the standard for determining whether the personal benefit…
Second Circuit Holds That Ascertainability Requirement Of Class Certification Does Not Include “Administrative Feasibility” And That Extraterritoriality Issues Can Preclude Predominance
- Jul 10, 2017
- Publications
Second Circuit Holds That Ascertainability Requirement Of Class Certification Does Not Include “Administrative Feasibility” And That Extraterritoriality Issues Can Preclude Predominance
In a July 7 decision with significant implications for the global OTC market, the Second Circuit addressed the standards for certifying classes in securities fraud cases. In In re Petrobras Securities Litigation, the Second Circuit…
U.S. Supreme Court Rules That Class Action Tolling Does Not Apply to Statutes of Repose
- Jun 27, 2017
- Publications
U.S. Supreme Court Rules That Class Action Tolling Does Not Apply to Statutes of Repose
In a decision likely to have significant ramifications for federal securities litigation, the U.S. Supreme Court ruled on June 26 that the class action tolling doctrine established in American Pipe & Construction Co. v. Utah does…
U.S. Supreme Court Holds That Five-Year Statute of Limitations Applies to Claims for Disgorgement Brought by the SEC
- Jun 06, 2017
- Publications
U.S. Supreme Court Holds That Five-Year Statute of Limitations Applies to Claims for Disgorgement Brought by the SEC
On June 5, the Supreme Court unanimously held that SEC claims for disgorgement are governed by a five-year statute of limitations. The Court rejected the SEC’s position that the claims are not subject to time limits. The decision…
Susanna Buergel, Andrew Ehrlich and Audra Soloway Co-Author Law360 Article
- May 24, 2017
- Publications
Susanna Buergel, Andrew Ehrlich and Audra Soloway Co-Author Law360 Article
Litigation partners Susanna Buergel, Andrew Ehrlich and Audra Soloway co-authored an “Expert Analysis” special series article for Law360.
Oaktree Wins Dismissal of Derivative, Class Lawsuits At Second Circuit
- Apr 26, 2017
- Client News
Oaktree Wins Dismissal of Derivative, Class Lawsuits At Second Circuit
Paul, Weiss secured a major appellate win for client Oaktree Capital Management when the U.S. Court of Appeals for the Second Circuit affirmed the dismissal of three shareholder derivative claims and a putative class action claim.
Supreme Court to Examine Key Question of Securities Fraud Liability Based Solely on Omissions
- Mar 30, 2017
- Publications
Supreme Court to Examine Key Question of Securities Fraud Liability Based Solely on Omissions
Earlier this week, the Supreme Court agreed to hear an important securities case addressing the scope of federal securities law claims based solely on omissions of material information. Petitioners in the case, Leidos, Inc. v. Indiana …
Paul, Weiss Files Amicus Brief on Behalf of Technology Companies in Successful Travel Ban Challenge
- Mar 14, 2017
- Client News
Paul, Weiss Files Amicus Brief on Behalf of Technology Companies in Successful Travel Ban Challenge
Paul, Weiss filed an amicus curiae brief on behalf of 58 leading high-tech companies in support of Hawaii’s successful motion blocking the implementation of President Trump's second temporary travel ban.
Client Alert: Supreme Court Nominee Has Taken Skeptical View of Private Securities Fraud Litigation, Agency Deference
- Feb 02, 2017
- Publications
Client Alert: Supreme Court Nominee Has Taken Skeptical View of Private Securities Fraud Litigation, Agency Deference
On January 31, President Donald J. Trump nominated Tenth Circuit Judge Neil Gorsuch for the Supreme Court seat vacated by the death of Justice Antonin Scalia nearly a year ago. Though his judicial record in private securities…
Client Alert: Second Circuit Holds that Trust Indenture Act 316(b) Prohibits Only Non-Consensual Amendments to Core Payment Terms of Bond Indentures
- Jan 18, 2017
- Publications
Client Alert: Second Circuit Holds that Trust Indenture Act 316(b) Prohibits Only Non-Consensual Amendments to Core Payment Terms of Bond Indentures
On January 17, 2017, the Court of Appeals for the Second Circuit issued its long-anticipated opinion in Marblegate Asset Management, LLC v. Education Management Finance Corp., ruling that Section 316(b) of the Trust Indenture…
Client Alert: U.S. Supreme Court To Review Ruling That Class Action Tolling Does Not Apply to Statutes of Repose
- Jan 17, 2017
- Publications
Client Alert: U.S. Supreme Court To Review Ruling That Class Action Tolling Does Not Apply to Statutes of Repose
On January 13, 2017, the U.S. Supreme Court agreed to review a decision from the U.S. Court of Appeals for the Second Circuit holding that the class action tolling doctrine established in American Pipe & Construction Co. v.…
U.S. Supreme Court to Review Whether Statute of Limitations Applies to SEC Disgorgement Claims
- Jan 17, 2017
- Publications
U.S. Supreme Court to Review Whether Statute of Limitations Applies to SEC Disgorgement Claims
On January 13, 2017, the Supreme Court granted certiorari in Kokesh v. Securities and Exchange Commission (U.S. Jan. 13, 2017) (No. 16-529) to determine whether disgorgement claims are subject to the five-year statute of limitations…
Xerox Completes Spinoff of Business Services Division
- Jan 03, 2017
- Client News
Xerox Completes Spinoff of Business Services Division
Paul, Weiss advised the board of directors of Xerox Corporation in the planned spin-off of its business services unit Conduent Incorporated.
Client Alert: Supreme Court Reaffirms Dirks, Confirms that a Gift of Information to a Trading Relative or Friend Satisfies Personal Benefit Requirement for Insider Trading
- Dec 07, 2016
- Publications
Client Alert: Supreme Court Reaffirms Dirks, Confirms that a Gift of Information to a Trading Relative or Friend Satisfies Personal Benefit Requirement for Insider Trading
In its first opinion on the scope of insider trading liability in nearly twenty years, the Supreme Court in Salman v. United States addressed whether insider trading liability can arise where a tipper makes a "gift" of…
Client Alert: Second Circuit Holds That Parties to Standard Lock-Up Agreements in IPOs Do Not Form a “Group” for Section 13(d) and Section 16(b) Purposes
- Nov 08, 2016
- Publications
Client Alert: Second Circuit Holds That Parties to Standard Lock-Up Agreements in IPOs Do Not Form a “Group” for Section 13(d) and Section 16(b) Purposes
A Second Circuit decision on November 3 in Lowinger v. Morgan Stanley rejected a theory that would have impeded the normal process by which trading of newly issued IPO shares is stabilized. In its November 3 ruling, the court…
Arch Coal Completes Restructuring
- Oct 14, 2016
- Client News
Arch Coal Completes Restructuring
Arch Coal, Inc., a leading producer of metallurgical and thermal coal, successfully completed its financial restructuring and emerged from chapter 11 as a publicly traded company with more than $300 million of cash on its balance …
Client Alert: What to Look for in Tomorrow’s Supreme Court Argument in Key Insider Trading Case
- Oct 04, 2016
- Publications
Client Alert: What to Look for in Tomorrow’s Supreme Court Argument in Key Insider Trading Case
For the first time in nearly twenty years, the United States Supreme Court will hear oral argument tomorrow in a case directly addressing the scope of insider trading liability.
In Vivendi Appeal, Second Circuit Rejects Challenge to “Price Maintenance” Theory of Price Impact
- Sep 30, 2016
- Publications
In Vivendi Appeal, Second Circuit Rejects Challenge to “Price Maintenance” Theory of Price Impact
On September 27, 2016, in related appeals arising from a long-pending securities fraud class action against Vivendi, the Second Circuit ruled on several important issues, including the proof necessary to both sustain and defeat…
Client Alert: Second Circuit Holds an Employer’s ERISA-Regulated Benefit Plans Are Not “Affiliates” of the Employer-Sponsor for Class Settlement Purposes; Splits with Seventh Circuit
- Sep 23, 2016
- Publications
Client Alert: Second Circuit Holds an Employer’s ERISA-Regulated Benefit Plans Are Not “Affiliates” of the Employer-Sponsor for Class Settlement Purposes; Splits with Seventh Circuit
The Second Circuit's September 20 decision in In re American International Group, Inc. Securities Litigation, No. 14‐4067(L) will likely have consequences in the negotiation of class action securities settlement agreements.
Foresight Energy Completes Unique Out-of-Court Coal Company Restructuring
- Aug 30, 2016
- Client News
Foresight Energy Completes Unique Out-of-Court Coal Company Restructuring
Paul, Weiss client Foresight Energy LP, a publicly held producer and marketer of thermal coal in the Illinois basin, completed an out-of-court restructuring of more than $1.4 billion in debt pursuant to transaction support…
Client Alert: Treasury and Federal Banking Agencies Clarify BSA/AML and Sanctions Enforcement Standards for Foreign Correspondent Banking Relationships
- Sep 01, 2016
- Publications
Client Alert: Treasury and Federal Banking Agencies Clarify BSA/AML and Sanctions Enforcement Standards for Foreign Correspondent Banking Relationships
On August 30, 2016, the U.S. Department of the Treasury, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of…
Citigroup Wins Dismissal of Auction Rate Securities Suit
- Aug 24, 2016
- Client News
Citigroup Wins Dismissal of Auction Rate Securities Suit
Justice Jeffrey K. Oing of the New York Supreme Court issued an order dismissing on statute of limitations grounds claims brought by All Children's Hospital (ACH) against Paul, Weiss client Citigroup Global Markets Inc. (CGMI).
Client Alert: Second Circuit Expands the IndyMac Rule
- Jul 22, 2016
- Publications
Client Alert: Second Circuit Expands the IndyMac Rule
In two recent federal securities fraud actions stemming from the 2008 financial crisis, the Second Circuit has affirmed that statutes of repose
Carlyle Makes Significant Minority Investment in Crestview Portfolio Company NEP
- Jun 28, 2016
- Client News
Carlyle Makes Significant Minority Investment in Crestview Portfolio Company NEP
The Carlyle Group announced that its long-duration private equity fund, Carlyle Global Partners, has made a significant minority investment in NEP Group Inc., a portfolio company of Paul, Weiss client Crestview Partners.
Walter Rieman, Audra Soloway and Andrew Ehrlich Co-Author Article on American Pipe Tolling in Law360
- Jun 02, 2016
- Publications
Walter Rieman, Audra Soloway and Andrew Ehrlich Co-Author Article on American Pipe Tolling in Law360
Litigation partners Walter Rieman, Audra Soloway and Andrew Ehrlich co-authored an article, titled "A Majority on American Pipe Tolling Emerges," in the June 2 issue of Law360.
Client Alert: Second Circuit Rules That Constitutional Challenge to Appointment of SEC Administrative Law Judges Must Be Adjudicated During Review of SEC’s Final Order, and Not in a Separate District Court Lawsuit
- Jun 03, 2016
- Publications
Client Alert: Second Circuit Rules That Constitutional Challenge to Appointment of SEC Administrative Law Judges Must Be Adjudicated During Review of SEC’s Final Order, and Not in a Separate District Court Lawsuit
Tilton v. SEC, No. 15-2103 (2d Cir. June 1, 2016), arose from an action in federal district court brought by Lynn Tilton and her investment firms ("Tilton"), who were respondents in an ongoing administrative proceeding before the…
Slate Publishes Article Highlighting Paul, Weiss's Advocacy on Behalf of LGBTQ Rights in Mississippi
- Jun 01, 2016
- Client News
Slate Publishes Article Highlighting Paul, Weiss's Advocacy on Behalf of LGBTQ Rights in Mississippi
Slate published an article highlighting the efforts of Paul, Weiss to overturn "Mississippi's new anti-LGBTQ segregation law," which enables clerks to "refuse to license same-sex couples based on their religious belief that…
Client Alert: Second Circuit Strikes Down Imposition of $1.27 Billion FIRREA Penalty, Holds That Government Failed to Prove Countrywide Acted with Fraudulent Intent
- May 31, 2016
- Publications
Client Alert: Second Circuit Strikes Down Imposition of $1.27 Billion FIRREA Penalty, Holds That Government Failed to Prove Countrywide Acted with Fraudulent Intent
On May 23, 2016, the United States Court of Appeals for the Second Circuit reversed a jury's finding of liability and the district court's imposition of a $1.27 billion civil penalty on Countrywide and related defendants…
Client Alert: Eleventh Circuit Applies Five-Year Statute of Limitations to Claims for Disgorgement and Declaratory Relief, Creating a Circuit Split
- May 31, 2016
- Publications
Client Alert: Eleventh Circuit Applies Five-Year Statute of Limitations to Claims for Disgorgement and Declaratory Relief, Creating a Circuit Split
In SEC v. Graham, No. 14-13562 (11th Cir. May 26, 2016), the Eleventh Circuit held that the five-year statute of limitations applicable to SEC enforcement proceedings under 28 U.S.C. § 2462 applies to disgorgement and declaratory…
Client Alert: The Sixth Circuit, in Agreement with the Second Circuit, Holds That American Pipe Tolling Does Not Apply to Statutes of Repose
- May 25, 2016
- Publications
Client Alert: The Sixth Circuit, in Agreement with the Second Circuit, Holds That American Pipe Tolling Does Not Apply to Statutes of Repose
On Friday, in Stein v. Regions Morgan Keegan Select High Income Fund, Inc., Nos. 15-5903, 15-905, 2016 WL 2909333 (6th Cir. May 19, 2016), the Sixth Circuit ruled that the tolling doctrine established by American Pipe & …
Client Alert: Supreme Court Rejects Federal Jurisdiction Over State Law Claims That Do Not Necessarily Raise Exchange Act Issues
- May 16, 2016
- Publications
Client Alert: Supreme Court Rejects Federal Jurisdiction Over State Law Claims That Do Not Necessarily Raise Exchange Act Issues
In Merrill Lynch, Pierce, Fenner & Smith Inc. v. Manning, No. 14-1132 (May 16, 2016), the Supreme Court held that the provision of exclusive federal jurisdiction in the Securities Exchange Act of 1934 ("Exchange Act") does…
Campaign for Southern Equality Moves to Reopen Marriage Case to Address Mississippi’s New “Religious Freedom” Statute
- May 11, 2016
- Client News
Campaign for Southern Equality Moves to Reopen Marriage Case to Address Mississippi’s New “Religious Freedom” Statute
As reported in Buzzfeed, Mississippi Today and other media outlets, Paul, Weiss clients the Campaign for Southern Equality, Carla Webb, Joce Pritchett, Andrea Sanders and Rebecca Bickett moved to reopen Campaign for Southern Equality …
Client Alert: U.S. District Court in New Jersey Rules That the Two-Year Limitations Period for Suits to Recover Short-Swing Profits Under Section 16(b) of the Securities Exchange Act of 1934 Is a Statute of Repose That Is Not Subject to Tolling
- May 10, 2016
- Publications
Client Alert: U.S. District Court in New Jersey Rules That the Two-Year Limitations Period for Suits to Recover Short-Swing Profits Under Section 16(b) of the Securities Exchange Act of 1934 Is a Statute of Repose That Is Not Subject to Tolling
Last week, a judge in the United States District Court for the District of New Jersey ruled on an issue that has remained unresolved since the United States Supreme Court split 4-4 on it four years ago: whether the two-year …
Pro Bono Client Obtains Dismissal in Criminal Matter
- May 06, 2016
- Client News
Pro Bono Client Obtains Dismissal in Criminal Matter
Paul, Weiss and Brooklyn Defender Services obtained the dismissal of robbery charges against our client in New York state court. Paul, Weiss and a photogrammetry expert developed a report showing that an individual…
Mississippi Declines to Appeal Decision Declaring Gay Adoption Ban Unconstitutional
- May 02, 2016
- Client News
Mississippi Declines to Appeal Decision Declaring Gay Adoption Ban Unconstitutional
As reported in Buzzfeed, New York Magazine and other media outlets, on May 2, the state of Mississippi declined to appeal a preliminary injunction entered by Judge Daniel P. Jordan III of the Southern District of Mississippi finding…
Married Lesbian Couples Granted Preliminary Injunction in Mississippi Adoption Case
- Mar 31, 2016
- Client News
Married Lesbian Couples Granted Preliminary Injunction in Mississippi Adoption Case
As reported by the Washington Post, Buzzfeed and ABC News, among other media outlets, Judge Daniel P. Jordan III of the Southern District of Mississippi issued an opinion holding Mississippi's ban on adoption by gay couples…