ProfessionalsDaniel J. Kramer

Daniel J. Kramer
Partner
Tel: +1-212-373-3020
Fax: +1-212-492-0020
emaildkramer@paulweiss.com
1285 Avenue of the Americas
New York,
NY
10019-6064
Fax: +1-212-492-0020
Daniel J. Kramer is a leading trial lawyer and litigator. Called “one of the stars of his generation” by Chambers, and a “quiet giant” by Lawdragon, Dan routinely handles complex litigations for some of the world's largest companies, represents boards of directors on corporate governance issues and leads special committees in internal investigations.
Dan is a senior partner in Paul Weiss' Securities Litigation and Enforcement Group. The Group has been named Securities Litigation Department of the Year by The American Lawyer, The New York Law Journal, Benchmark Litigation, Law360 and U.S. News and World Report. The American Lawyer called the practice “big, powerful and swaggering,” noting that “no other firm matched the number and magnitude of headline making securities litigation.” Similarly, Chambers ranks the Securities Litigation Department in Band 1, stating that the Group has “a truly enviable securities litigation practice,” a “dazzlingly deep bench” and “some of the most cutting-edge securities cases.” And Legal 500 gives the Group its highest rating, noting that “its excellent, wise counselors combine deep legal knowledge with a practical and business-like view.”
EXPERIENCE
Dan's recent matters include representation of:
- Tesla's directors, in investigations and litigation arising out of Elon Musk's “going private” tweets.
- ExxonMobil, in securities and ERISA litigation regarding the Company's oil reserves.
- Kraft Heinz, in its $15 billion write down of its Kraft and Oscar Meyer brands.
- 21st Century Fox, in the investigation of Bill O'Reilly and Roger Ailes.
- Steven A. Cohen and SAC Capital (now Point72 Asset Management), in criminal and regulatory proceedings and litigations arising out of claims of insider trading.
- Omega Advisors and Leon Cooperman, in SEC proceedings alleging insider trading.
- Bank of America, in litigations by shareholders, the SEC and New York Attorney General arising out of its $50 billion merger with Merrill Lynch.
- AIG, in litigation with its former Chairman and CEO, Hank Greenberg, and in class action, ERISA and derivative lawsuits concerning allegations of accounting fraud and bid rigging.
- Merck, in litigation and regulatory investigations relating to Vioxx and Vytorin.
- UBS, in the Detroit bankruptcy.
- ADT, in class action and derivative lawsuits challenging its decision to increase its debt and buy back the stock of its largest shareholder.
- Credit Suisse, in litigation concerning the Hard Rock Hotel in Las Vegas.
- Swiss Re, in class action litigation concerning its write down of credit default swaps.
- Ericsson, in class action litigation involving its telecom business.
- Fannie Mae's Board of Directors' Special Review Committee, in an internal investigation into accounting and governance issues.
- JP Morgan Chase's Bank One mutual funds, in litigation arising out of allegations of market timing and late trading in the mutual fund industry.
- Hollinger International (now Sun Times Media Group), in the successful prosecution of its former CEO, Conrad Black, for improper self-dealing transactions.
Dan also lectures and writes extensively on securities litigation, corporate governance and regulatory issues. He is the co-editor of Corporate Internal Investigations: An International Guide (Oxford University Press), and co-author of Federal Securities Litigation: A Deskbook for the Practitioner (Data Press) and of Regulation of Market Manipulation (Matthew Bender).
Dan serves as a Trustee of the Kenyon Review, a Director of NYU Law School’s Center on Civil Justice, the Hudson Valley Shakespeare Festival, Scenic Hudson, Hudson Highlands Land Trust,Friends of Flutes Foundation and a Fellow of the American Bar Foundation. He received the ADL’s Human Relations Award in 2016.
INDUSTRY AWARDS AND RECOGNITIONS
Dan has been selected as one of only three “Star Individual” securities lawyers by Chambers USA. Clients praise his “well-established and well-earned reputation for both ethical and intellectual integrity [that] translates into a deep and instant credibility with regulators, courts and opposing counsel, making his representation of client interests that much more effective and impactful.” They go on to say: “He’s the best all-around litigator I’ve ever observed and the counselor I would want at my side in a boardroom battle.”
The Legal 500 has recognized Dan as a “Leading Lawyer” in both Securities Litigation Defense and Financial Services Litigation based on his “prodigious work ethic and practical business sense” and his “world class, vast experience acting for financial services entities in litigation and agency investigations.”
Dan was also named one of America’s leading lawyers handling “Bet-the-Company” Litigation, Securities Litigation, Regulatory Enforcement Litigation, and Commercial Litigation, as well as Corporate Governance Law by Best Lawyers in America. Clients recommend him as a “leader in his field who gives very smart and very practical advice [which] is not only right for the case, but also right for the company. He sees and appreciates the big picture.” Dan was named Best Lawyers’ “2017 Lawyer of the Year” for Securities Litigation and its “2016 Lawyer of the Year” for his work in the area of Securities Enforcement Litigation.
Multiple other outlets and publications have recognized Dan as a leading trial lawyer and litigator. He was named one of New York’s “Top 10 Lawyers” by Super Lawyers, one of the “500 Leading Lawyers in America” by Lawdragon and as “one of the most influential people in corporate governance and the boardroom” by Directorship Magazine. Benchmark Litigation recognized him in three local star categories: Securities, General Commercial, and White Collar Crime. In 2017, The National Law Journal named Dan a “Legal Trailblazer.”
Related Resources
Annual Defense Spending Bill Includes Amendments Expanding SEC’s Ability to Seek Disgorgement
- Dec 16, 2020
- Publications
Annual Defense Spending Bill Includes Amendments Expanding SEC’s Ability to Seek Disgorgement
The National Defense Authorization Act for Fiscal Year 2021, which passed Congress on December 11, responds to recent Supreme Court cases by expanding the SEC’s ability to seek disgorgement in federal court. The bill provides the SEC…
Teladoc Wins Dismissal of Securities Fraud Class Action
- Nov 30, 2020
- Client News
Teladoc Wins Dismissal of Securities Fraud Class Action
Paul Weiss secured the dismissal of a putative securities fraud class action against Teladoc Health, Inc. and certain individual defendants.
HCP Wins Dismissal of Securities Fraud Class Action
- Nov 30, 2020
- Client News
HCP Wins Dismissal of Securities Fraud Class Action
Paul, Weiss prevailed against a bid to revive a previously dismissed securities fraud class action against real estate investment trust HCP, Inc. (now Healthpeak Properties, Inc.), and three of its former executives.
A Second California State Court Enforces Federal Forum Provision and Dismisses Securities Act Claims Against All Defendants—Including Underwriters
- Nov 23, 2020
- Publications
A Second California State Court Enforces Federal Forum Provision and Dismisses Securities Act Claims Against All Defendants—Including Underwriters
A California state court recently became the second in the country to dismiss claims brought under the Securities Act of 1933 because the defendant-issuer’s charter contained a federal forum provision (FFP). The decision, in In Re…
Delaware Court of Chancery Provides New Guidance on the Standard for Analyzing Demand Futility
- Nov 03, 2020
- Publications
Delaware Court of Chancery Provides New Guidance on the Standard for Analyzing Demand Futility
In an opinion that portends a potential shift in the standard applicable to motions to dismiss derivative cases for failure to plead demand futility—the more common basis for seeking dismissal of such cases in Delaware—Vice Chancellor …
California State Court Enforces Federal Forum Provision and Dismisses Securities Act Claims
- Sep 17, 2020
- Publications
California State Court Enforces Federal Forum Provision and Dismisses Securities Act Claims
A California state court recently became the first court in the country to dismiss claims brought under the Securities Act of 1933 because the issuer’s corporate charter contained a federal forum provision requiring that such claims…
Vince Holding Corporation Wins Dismissal of Securities Claims
- Sep 09, 2020
- Client News
Vince Holding Corporation Wins Dismissal of Securities Claims
Paul, Weiss secured a victory for luxury apparel company Vince Holding Corporation, certain current and former officers and directors, and its majority owner Sun Capital Partners and certain affiliated funds in a pair of securities…
Teladoc Secures Dismissal of Putative Securities Fraud Class Action
- Sep 04, 2020
- Client News
Teladoc Secures Dismissal of Putative Securities Fraud Class Action
Paul, Weiss secured the dismissal with prejudice of a putative securities fraud class action against Teladoc Health, Inc. and certain individual defendants from Magistrate Judge Barbara Moses of the Southern District of New York.
New York State Court Refuses to Vacate Stay of Securities Act Case Despite Differences with Parallel Federal Lawsuit
- Aug 28, 2020
- Publications
New York State Court Refuses to Vacate Stay of Securities Act Case Despite Differences with Parallel Federal Lawsuit
In In re NIO Inc. Securities Litigation, the New York State Supreme Court recently refused to vacate its stay of a class action under the Securities Act in favor of a parallel first-filed federal court suit, despite plaintiffs’…
Danske Bank CFO Secures Dismissal of Securities Fraud Lawsuit
- Aug 24, 2020
- Client News
Danske Bank CFO Secures Dismissal of Securities Fraud Lawsuit
Paul, Weiss obtained the dismissal with prejudice of all claims in a securities class action brought against our client, the former CFO of Danske Bank.
ADT and Google Partner to Create Leading Smart Home Security Offering
- Aug 03, 2020
- Client News
ADT and Google Partner to Create Leading Smart Home Security Offering
Paul, Weiss advised ADT Inc. in a $450 million investment from Google in connection with the companies’ establishment of a long-term commercial partnership to create the next generation of smart home security offerings.
Paul, Weiss Defeats Attempt to Revive Securities Class Action Against Pretium
- Jul 09, 2020
- Client News
Paul, Weiss Defeats Attempt to Revive Securities Class Action Against Pretium
Paul, Weiss achieved another victory for Pretium Resources Inc. and two executives when the U.S. District Court for the Southern District of New York denied plaintiffs’ motion for leave to amend their complaint following dismissal of…
Supreme Court Holds That CFPB’s Structure Is Unconstitutional
- Jul 01, 2020
- Publications
Supreme Court Holds That CFPB’s Structure Is Unconstitutional
In Seila Law v. Consumer Financial Protection Bureau, the Supreme Court recently held that the structure of the CFPB violates the constitutional separation of powers. One of the most important separation-of-powers cases in recent…
Supreme Court Upholds the SEC’s Authority to Seek Disgorgement in Civil Actions, But Imposes Important Limiting Principles
- Jun 25, 2020
- Publications
Supreme Court Upholds the SEC’s Authority to Seek Disgorgement in Civil Actions, But Imposes Important Limiting Principles
The Supreme Court held on June 22 that the SEC may seek disgorgement in enforcement actions, as long as the disgorgement does not exceed a wrongdoer’s net profits and is to be awarded for victims.
Supreme Court to Determine the Effect of a Carve-Out Provision on an Agreement to Arbitrate Questions of Arbitrability
- Jun 24, 2020
- Publications
Supreme Court to Determine the Effect of a Carve-Out Provision on an Agreement to Arbitrate Questions of Arbitrability
The Supreme Court agreed on June 15 to determine whether, under the Federal Arbitration Act, a provision in an arbitration agreement exempting certain claims from the scope of the agreement negates a provision clearly delegating…
Ninth Circuit Affirms Dismissal of Securities Fraud Case Where Pharmaceutical Company Had No Motive to Lie About Likelihood of FDA Approval
- Jun 18, 2020
- Publications
Ninth Circuit Affirms Dismissal of Securities Fraud Case Where Pharmaceutical Company Had No Motive to Lie About Likelihood of FDA Approval
In Nguyen v. Endologix, the Ninth Circuit recently affirmed the dismissal of a putative securities class action alleging that a medical device manufacturer fraudulently expressed optimism that a product would receive FDA approval,…
U.S. Supreme Court Limits Standing for ERISA Plan Participants to Sue for Breach of Fiduciary Duties
- Jun 11, 2020
- Publications
U.S. Supreme Court Limits Standing for ERISA Plan Participants to Sue for Breach of Fiduciary Duties
In Thole v. U.S. Bank, the Supreme Court held that participants in a defined-benefit pension plan governed by ERISA lacked standing to sue for breaches of fiduciary duties if they had not suffered personal financial injury.
Second Circuit Significantly Increases the Burden of Pleading Corporate Scienter
- Jun 02, 2020
- Publications
Second Circuit Significantly Increases the Burden of Pleading Corporate Scienter
The Second Circuit recently affirmed dismissal of a securities class action against Kimberly-Clark Corporation and Avanos Medical, Inc. based on alleged misrepresentations by the companies’ senior executives. The court ruled that a…
Court Holds that Syndicated Bank Loan Is Not a “Security”
- May 26, 2020
- Publications
Court Holds that Syndicated Bank Loan Is Not a “Security”
Federal and state securities laws generally apply only to instruments that qualify as “securities.” The question of whether a particular instrument is a security, therefore, can have significant and far-reaching consequences. Nearly…
Federal District Court Determines That Pharmaceutical Company Has No Standalone Obligation to Disclose Interim FDA Feedback on Form 483
- May 05, 2020
- Publications
Federal District Court Determines That Pharmaceutical Company Has No Standalone Obligation to Disclose Interim FDA Feedback on Form 483
A federal district court dismissed a putative securities class action lawsuit against Nabriva Therapeutics and several of its officers alleging that the company had fraudulently misled investors about its prospects for getting FDA…
Magistrate Judge Recommends Dismissal of Securities Claims Against Vince Holding Corporation and Sun Capital Partners
- Apr 14, 2020
- Client News
Magistrate Judge Recommends Dismissal of Securities Claims Against Vince Holding Corporation and Sun Capital Partners
Paul, Weiss secured a victory for luxury apparel company Vince Holding Corporation, certain current and former officers and directors, and its majority owner Sun Capital Partners in a pair of securities class actions.
Second Circuit Denies Rehearing in Key Insider Trading Case
- Apr 13, 2020
- Publications
Second Circuit Denies Rehearing in Key Insider Trading Case
In denying defendants’ petition for rehearing in United States v. Blaszczak, the Second Circuit firmly established potential liability for insider trading in the criminal context even where the original “tipper” receives no personal…
General Electric Completes Sale of BioPharma Business to Danaher for $21.4 Billion
- Mar 31, 2020
- Client News
General Electric Completes Sale of BioPharma Business to Danaher for $21.4 Billion
Paul, Weiss advised General Electric in the sale of its BioPharma business to Danaher Corporation for $21.4 billion.
MagnaChip to Sell Its Foundry Business
- Mar 30, 2020
- Client News
MagnaChip to Sell Its Foundry Business
Paul, Weiss is advising MagnaChip Semiconductor Corporation in the sale of its Foundry Services Group and the fabrication plant in Cheongju, Korea by certain of the company’s wholly-owned subsidiaries to a special purpose company…
Update: Mitigating Securities Litigation Risks Related to the Coronavirus
- Mar 31, 2020
- Publications
Update: Mitigating Securities Litigation Risks Related to the Coronavirus
As an update to our earlier alert, “Mitigating Securities Litigation Risks Related to the Coronavirus,” we look at key takeaways from the first two securities fraud class action filings related to COVID-19 disclosures and outline…
White-Collar Enforcement Priorities in the Wake of COVID-19
- Mar 31, 2020
- Publications
White-Collar Enforcement Priorities in the Wake of COVID-19
The DOJ and SEC have signaled an intention to focus on misconduct related specifically to the coronavirus, at least temporarily. Combined with ongoing practical limitations, that focus has slowed down traditional white-collar…
Mitigating Securities Litigation Risks Related to the Coronavirus
- Mar 05, 2020
- Publications
Mitigating Securities Litigation Risks Related to the Coronavirus
The spread of coronavirus has disrupted global businesses and triggered severe U.S. stock market declines. These events raise the risk that shareholders will convert these stock drops into litigation. We address the securities…
U.S. Supreme Court Vacates and Remands ERISA Stock-Drop Suit
- Jan 23, 2020
- Publications
U.S. Supreme Court Vacates and Remands ERISA Stock-Drop Suit
On January 14, 2020, the U.S. Supreme Court issued a per curiam order in Retirement Plans Committee of IBM Jander[1] (“Jander”), a closely watched case regarding the pleading standard for corporate stock-drop and disclosure claims…
Paul, Weiss Wins Dismissal of Securities Class Action Against Ericsson
- Jan 10, 2020
- Client News
Paul, Weiss Wins Dismissal of Securities Class Action Against Ericsson
Paul, Weiss secured the dismissal of a putative securities class action brought against our clients Telefonaktiebolaget LM Ericsson and various Ericsson executives relating to Ericsson’s accounting for various long-term service…
Paul, Weiss Wins Dismissal of Securities Claims Against CBS Lead Independent Director Arising From Former CEO’s Alleged Sexual Misconduct
- Jan 15, 2020
- Client News
Paul, Weiss Wins Dismissal of Securities Claims Against CBS Lead Independent Director Arising From Former CEO’s Alleged Sexual Misconduct
Paul, Weiss secured a major victory for Bruce Gordon, the former lead independent director of the board of CBS Corporation, in a putative securities class action arising from former CEO and Chairman Leslie Moonves’ and others’ sexual…
Paul, Weiss Wins Dismissal of Securities Claims Against HCP
- Nov 22, 2019
- Client News
Paul, Weiss Wins Dismissal of Securities Claims Against HCP
Paul, Weiss secured the dismissal of a securities fraud class action against real estate investment trust HCP, Inc. (now Healthpeak Properties, Inc.) and three former HCP executives.
Supreme Court to Consider if the SEC May Collect Disgorgement in Civil Enforcement Proceedings
- Nov 04, 2019
- Publications
Supreme Court to Consider if the SEC May Collect Disgorgement in Civil Enforcement Proceedings
On November 1, 2019, the Supreme Court granted certiorari in Liu v. Securities and Exchange Commission, No. 18-1501, to review the question of whether the Securities and Exchange Commission (“SEC”) may obtain disgorgement from a court …
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
In 2018, the United States Supreme Court in Cyan, Inc. v. Beaver County Employees Retirement Fund held that class actions asserting claims under the Securities Act of 1933 (“Securities Act”) that are filed in state court are not…
Barnes & Noble to Be Acquired by Elliott
- Jun 07, 2019
- Client News
Barnes & Noble to Be Acquired by Elliott
Paul, Weiss is representing the Board of Directors of Barnes & Noble, Inc., the nation’s largest bookseller, in the company’s approximately $683 million all-cash acquisition by Elliott Advisors (UK) Limited.
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.”
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.
Meridian Bioscience Wins Dismissal of Securities Class Action
- Feb 13, 2019
- Client News
Meridian Bioscience Wins Dismissal of Securities Class Action
Paul, Weiss secured the dismissal of a putative securities class action against our client Meridian Bioscience, an Ohio-based life science company.
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
Last week the United States Court of Appeals for the Tenth Circuit considered the scope of the SEC’s authority to bring a civil enforcement action under the antifraud provisions of the federal securities laws arising from a securities …
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
On December 19, 2018, the Delaware Court of Chancery (Laster, V.C) held in Sciabacucchi v. Salzberg et al, C.A. No. 2017-0931-VCL (Del. Ch. Dec. 19, 2018), that federal forum selection provisions contained in the certificates of…
Appellate Court Affirms Dismissal of Suit Against Elliott Associates Challenging Compuware Merger
- Nov 29, 2018
- Client News
Appellate Court Affirms Dismissal of Suit Against Elliott Associates Challenging Compuware Merger
The Michigan Court of Appeals affirmed a circuit court’s dismissal, on summary judgment, of a lawsuit against Paul, Weiss client Elliott Associates and others related to Thoma Bravo’s 2014 acquisition of Compuware Corporation.
Gibson Brands Emerges From Chapter 11
- Nov 01, 2018
- Client News
Gibson Brands Emerges From Chapter 11
Paul, Weiss advised an ad hoc committee of Gibson Brands, Inc. noteholders, led by KKR, in connection with Gibson’s successful reorganization under chapter 11.
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 …
Merck Prevails in Vytorin Securities Litigation
- May 15, 2018
- Client News
Merck Prevails in Vytorin Securities Litigation
Paul, Weiss secured the final dismissal of remaining claims brought by investors in a decade-long securities law dispute against our clients Merck & Co., Inc. and Schering-Plough Corporation.
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.
Gibson Brands Commences Chapter 11
- May 01, 2018
- Client News
Gibson Brands Commences Chapter 11
Paul, Weiss is representing an ad hoc committee of Gibson Brands, Inc. noteholders, including KKR, in connection with Gibson’s chapter 11 proceedings.
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.
Pretium Resources Wins Second Circuit Victory Affirming Dismissal of Securities Fraud Class Action
- May 01, 2018
- Client News
Pretium Resources Wins Second Circuit Victory Affirming Dismissal of Securities Fraud Class Action
Paul, Weiss achieved a significant victory for Pretium Resources, when the Second Circuit Court of Appeals issued a decision affirming the dismissal of a class action complaint alleging that Pretium had defrauded investors.
ExxonMobil and Plan Trustees Win Motion to Dismiss ERISA Class Action
- Mar 30, 2018
- Client News
ExxonMobil and Plan Trustees Win Motion to Dismiss ERISA Class Action
Paul, Weiss achieved a significant victory for Exxon Mobil Corporation and the trustees of its savings plan when the U.S. District Court for the Southern District of Texas granted their motion to dismiss a putative ERISA class action.
IEA Energy Completes Merger With M III Acquisition
- Mar 26, 2018
- Client News
IEA Energy Completes Merger With M III Acquisition
Paul, Weiss represented energy infrastructure company IEA Energy Services LLC in its merger with M III Acquisition Corp, a special purpose acquisition company.
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…
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…
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…
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.
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…
Omega Advisors and Leon Cooperman Settle SEC Charges
- May 18, 2017
- Client News
Omega Advisors and Leon Cooperman Settle SEC Charges
After a six-year investigation, Paul, Weiss clients Omega Advisors, Inc. and Leon Cooperman agreed to settle claims filed by the Securities and Exchange Commission based on allegations of insider trading and late filings of statements …
SAC Capital Secures Final Approval for Settlement of Class Action
- May 12, 2017
- Client News
SAC Capital Secures Final Approval for Settlement of Class Action
After more than four years of litigation, U.S. District Judge John G. Koeltl entered final judgment approving the settlement of the last private civil class action alleging that Paul, Weiss clients Steven A. Cohen, SAC Capital…
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 …
The D&O Diary Reviews Updated Deskbook on Federal Securities Litigation
- Feb 21, 2017
- Publications
The D&O Diary Reviews Updated Deskbook on Federal Securities Litigation
Litigation partners Daniel Kramer and Audra Soloway are co-authors of the recently updated "Federal Securities Litigation: A Deskbook for the Practitioner" which was favorably reviewed by Kevin LaCroix, author of the Internet…
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…
Indian Point Nuclear Power Plant to Close
- Jan 31, 2017
- Client News
Indian Point Nuclear Power Plant to Close
New York Governor Andrew Cuomo announced earlier this month that the Indian Point Nuclear Facility located in Westchester County, New York will be closed by 2021.
iStar Wins Appeal in Class Action Derivative Suit
- Jan 20, 2017
- Client News
iStar Wins Appeal in Class Action Derivative Suit
Paul, Weiss obtained an appellate victory on behalf of senior management of real estate investment trust iStar Inc. when Maryland's highest court upheld the intermediate court's dismissal of a putative derivative and class…
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…
Delaware M&A Quarterly
- Oct 07, 2016
- Publications
Delaware M&A Quarterly
In this issue of the Paul, Weiss Delaware M&A Quarterly, we discuss several cases of significance to the M&A practice, including Narayanan v. Sutherland, Larkin v. Shah, In re Riverstone National, Inc. Stockholder…
Former MDC Partners Chief Accounting Officer Wins Dismissal of Securities Fraud Class Action
- Oct 03, 2016
- Client News
Former MDC Partners Chief Accounting Officer Wins Dismissal of Securities Fraud Class Action
Judge Richard Sullivan of the Southern District of New York dismissed a securities fraud class action complaint against Paul, Weiss client Michael Sabatino.
Client Alert: Delaware Court of Chancery Dismisses Post-Closing Disclosure Claims for Failure to Show Disloyalty or Bad Faith
- Oct 04, 2016
- Publications
Client Alert: Delaware Court of Chancery Dismisses Post-Closing Disclosure Claims for Failure to Show Disloyalty or Bad Faith
In Nguyen v. Barrett, the Delaware Court of Chancery dismissed post-closing claims that the board acted disloyally or in bad faith by failing to make the challenged disclosures.
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.
Eleventh Circuit Affirms Dismissal of Securities Class Action Suit Against ADT
- Sep 07, 2016
- Client News
Eleventh Circuit Affirms Dismissal of Securities Class Action Suit Against ADT
The U.S. Court of Appeals for the Eleventh Circuit affirmed the dismissal of a consolidated securities action against Paul, Weiss client The ADT Corporation that challenged the company's disclosures concerning its stock…
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
Client Memo: A Guide to the Supreme Court’s Notable Decisions this Term
- Jun 28, 2016
- Publications
Client Memo: A Guide to the Supreme Court’s Notable Decisions this Term
The Supreme Court's 2015-2016 Term will be remembered for the unexpected death of Justice Antonin Scalia on February 13, 2016.
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…
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…
HCP to Spin Off HCR ManorCare Into Publicly Traded REIT
- May 09, 2016
- Client News
HCP to Spin Off HCR ManorCare Into Publicly Traded REIT
As reported in The Wall Street Journal, Reuters and other media outlets, Paul, Weiss client HCP announced that its board of directors has unanimously approved a plan to spin off its HCR ManorCare portfolio of…
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 …
ADT Directors Win Dismissal of Derivative Lawsuit
- May 06, 2016
- Client News
ADT Directors Win Dismissal of Derivative Lawsuit
On May 6, the Delaware Court of Chancery dismissed a derivative lawsuit against the directors and a former officer of Paul, Weiss client The ADT Corporation.
YA Global Granted Summary Judgment on Short-Swing Trading Claims
- May 06, 2016
- Client News
YA Global Granted Summary Judgment on Short-Swing Trading Claims
On May 6, Judge Kevin McNulty of the United States District Court for the District of New Jersey granted summary judgment to Paul, Weiss client YA Global Investments, L.P., ruling that claims against YA Global to recover…
Client Alert: Eighth Circuit Interprets Halliburton II, Holding That Defendants Successfully Rebutted Fraud-on-the-Market Presumption of Reliance by Showing that the Alleged Misstatements Did Not Cause a Stock-Price Increase
- Apr 13, 2016
- Publications
Client Alert: Eighth Circuit Interprets Halliburton II, Holding That Defendants Successfully Rebutted Fraud-on-the-Market Presumption of Reliance by Showing that the Alleged Misstatements Did Not Cause a Stock-Price Increase
On April 12, 2016, in IBEW Local 98 Pension Fund v. Best Buy Co., Inc., the Eighth Circuit interpreted and applied the Supreme Court's decision in Halliburton Co. v. Erica P. John Fund, Inc. ("Halliburton II"), which …
Second Circuit Interprets Omnicare Narrowly, Holding That Issuers Need Not Disclose Information Merely Because It Cuts Against Their Opinions or Projection
- Mar 09, 2016
- Publications
Second Circuit Interprets Omnicare Narrowly, Holding That Issuers Need Not Disclose Information Merely Because It Cuts Against Their Opinions or Projection
On March 4, 2016, in Tongue v. Sanofi,[1] the Second Circuit interpreted and applied for the first time the Supreme Court's decision in Omnicare Inc. v. Laborers Dist. Council Const. Indus. Pension Fund,[2] which addressed the…
Xerox to Split Into Two Public Companies
- Jan 29, 2016
- Client News
Xerox to Split Into Two Public Companies
As reported by The Wall Street Journal and other media outlets, Xerox Corporation announced its plan to separate into two independent, public companies.
Client Alert: U.S. District Court Orders Compliance Monitor’s Report Unsealed Pursuant to First Amendment Right of Public Access
- Feb 01, 2016
- Publications
Client Alert: U.S. District Court Orders Compliance Monitor’s Report Unsealed Pursuant to First Amendment Right of Public Access
On January 28, 2016, United States District Judge John Gleeson of the Eastern District of New York found that a report by a corporate compliance monitor retained to supervise HSBC under a deferred prosecution agreement ("DPA")…
iStar Wins Dismissal of Class Action Derivative Suit
- Jan 28, 2016
- Client News
iStar Wins Dismissal of Class Action Derivative Suit
Paul, Weiss obtained a victory on behalf of the senior management of iStar Inc., a real estate investment trust, when a three-judge panel of the Maryland Court of Special Appeals affirmed the dismissal of a putative derivative…
Client Alert: United States v. Litvak: Second Circuit Overturns Conviction, Holds Defense Is Entitled to Put Forward Expert Evidence on Materiality
- Dec 09, 2015
- Publications
Client Alert: United States v. Litvak: Second Circuit Overturns Conviction, Holds Defense Is Entitled to Put Forward Expert Evidence on Materiality
On December 8, 2015, the Second Circuit overturned the convictions of a securities trader for alleged misrepresentations made to certain RMBS transaction counterparties, some of which were investment vehicles established and…
Delaware Supreme Court Affirms Dismissal of Derivative Lawsuit Against ADT’s Directors
- Nov 19, 2015
- Client News
Delaware Supreme Court Affirms Dismissal of Derivative Lawsuit Against ADT’s Directors
The Delaware Supreme Court affirmed the Delaware Court of Chancery's dismissal of a derivative lawsuit against the directors of The ADT Corporation, represented by Paul, Weiss, as well as defendants Corvex Management LP, a hedge…
Ericsson Completes Acquisition of Envivio
- Oct 27, 2015
- Client News
Ericsson Completes Acquisition of Envivio
Paul, Weiss client Ericsson announced the completion of its acquisition of Envivio, Inc., a California-based video encoding provider.
Client Alert: Supreme Court Declines To Consider Second Circuit’s Landmark Insider Trading Ruling
- Oct 05, 2015
- Publications
Client Alert: Supreme Court Declines To Consider Second Circuit’s Landmark Insider Trading Ruling
Today, the United States Supreme Court declined to hear the petition for a writ of certiorari filed by the United States Department of Justice in United States v. Newman, 773 F.3d 438 (2d Cir. 2014), a landmark…
Client Alert: Southern District of New York Ruling Highlights That Materiality Is a Meaningful Pleading Obstacle in ’33 Act Cases
- Oct 01, 2015
- Publications
Client Alert: Southern District of New York Ruling Highlights That Materiality Is a Meaningful Pleading Obstacle in ’33 Act Cases
Claims brought under the Securities Act of 1933 (the "Act") are typically challenging for defendants to dismiss.
New York Court Dismisses Class Action Suit Against Ply Gem
- Sep 29, 2015
- Client News
New York Court Dismisses Class Action Suit Against Ply Gem
Judge J. Paul Oetken of the Southern District of New York dismissed a putative class action brought against Paul, Weiss client Ply Gem and several of its officers and directors under the Securities Act of 1933.
Cybersecurity Update: Heightened Concerns, Legal and Regulatory Framework, Enforcement Priorities, and Key Steps to Limit Legal and Business Risks
- Sep 30, 2015
- Publications
Cybersecurity Update: Heightened Concerns, Legal and Regulatory Framework, Enforcement Priorities, and Key Steps to Limit Legal and Business Risks
Recently reported cyber incidents have impacted millions of people and exposed the increased and continuing risks for businesses and government agencies.
Client Alert: Delaware Court of Chancery Provides Guidance on M&A Litigation Settlement
- Sep 28, 2015
- Publications
Client Alert: Delaware Court of Chancery Provides Guidance on M&A Litigation Settlement
In In re Riverbed Technology Inc. Stockholders Litigation, the Delaware Court of Chancery approved a disclosure only settlement that released a broad range of claims, but in doing so, noted that, going forward, the interests of…
Client Alert: Southern District of New York Issues Ruling in AIG Securities Litigation That Increases the Hurdles for Opt-Out Plaintiffs
- Sep 17, 2015
- Publications
Client Alert: Southern District of New York Issues Ruling in AIG Securities Litigation That Increases the Hurdles for Opt-Out Plaintiffs
On Thursday, the United States District Court for the Southern District of New York (Swain, J.) issued a decision granting, in part, the defendants' motions to dismiss in a series of individual actions filed by AIG shareholders…
Client Alert: New DoJ Memo by DAG Yates Intended to Increase Prosecutions of White Collar Executives and Other Employees
- Sep 11, 2015
- Publications
Client Alert: New DoJ Memo by DAG Yates Intended to Increase Prosecutions of White Collar Executives and Other Employees
In a speech yesterday at NYU Law School, Deputy Attorney General Sally Q. Yates announced new Department of Justice policies intended to strengthen the DoJ's efforts to hold corporate executives accountable for unlawful conduct.
Client Alert: New York Court of Appeals Holds That Claims for Breaches of Representations and Warranties Accrue When RMBS Contracts Are Executed
- Jun 15, 2015
- Publications
Client Alert: New York Court of Appeals Holds That Claims for Breaches of Representations and Warranties Accrue When RMBS Contracts Are Executed
Last Thursday, the New York Court of Appeals issued an important opinion, ACE Securities Corp. v. DB Structured Products, Inc., 2015 WL 3616244 (N.Y. June 11, 2015), explaining when the applicable six-year statute of…
ADT Wins Dismissal of Securities Suit
- Jun 03, 2015
- Client News
ADT Wins Dismissal of Securities Suit
The U.S. District Court for the Southern District of Florida dismissed a consolidated securities action against Paul, Weiss client The ADT Corporation and Naren Gursahaney, ADT's President and CEO, as well as defendants Kathryn…
Client Alert: Delaware Supreme Court Clarifies That Plaintiffs Must Plead a Non-Exculpated Claim of Breach of Fiduciary Duty to Survive Motion to Dismiss, Even Where Entire Fairness Applies
- May 19, 2015
- Publications
Client Alert: Delaware Supreme Court Clarifies That Plaintiffs Must Plead a Non-Exculpated Claim of Breach of Fiduciary Duty to Survive Motion to Dismiss, Even Where Entire Fairness Applies
Last week, the Delaware Supreme Court cleared up a confused area of the law and held that in a stockholder suit challenging an acquisition by a controlling stockholder, a plaintiff seeking monetary damages from independent…
Court Dismisses Civil RICO Claims Against SAC Capital
- Apr 28, 2015
- Client News
Court Dismisses Civil RICO Claims Against SAC Capital
Paul, Weiss client SAC Capital won a significant victory when Judge Victor Marrero of the United States District Court for the Southern District of New York dismissed civil RICO claims brought by a series of investors in two…
Delaware Court of Chancery Dismisses Derivative Lawsuit Against ADT’s Directors
- Apr 28, 2015
- Client News
Delaware Court of Chancery Dismisses Derivative Lawsuit Against ADT’s Directors
The Delaware Court of Chancery dismissed a derivative lawsuit against the directors of Paul, Weiss client The ADT Corporation, as well as Corvex Management LP, a hedge fund that previously held approximately five percent of ADT's …
Second Circuit Issues Decision Establishing Comprehensive Framework for Adjudicating Preclusion Issues Under SLUSA
- Apr 28, 2015
- Publications
Second Circuit Issues Decision Establishing Comprehensive Framework for Adjudicating Preclusion Issues Under SLUSA
Last Thursday, the Second Circuit issued an important opinion interpreting the preclusion provisions of the Securities Litigation Uniform Standards Act of 1998 ("SLUSA"). SLUSA bars plaintiffs from bringing class…
Awards & Recognition
Dan Kramer Named “Litigation Trailblazer” by The National Law Journal
- Dec 19, 2017
- Awards
Dan Kramer Named “Litigation Trailblazer” by The National Law Journal
Litigation partner Dan Kramer was recognized as a “Litigation Trailblazer” by The National Law Journal.
Daniel Kramer Receives ADL's Human Relations Award
- Nov 17, 2016
- Awards
Daniel Kramer Receives ADL's Human Relations Award
Litigation partner Daniel Kramer was honored by the Anti-Defamation League with its Human Relations Award.
Paul, Weiss Honored at the 2014 Pro Bono Publico Awards
- Oct 08, 2014
- Awards
Paul, Weiss Honored at the 2014 Pro Bono Publico Awards
The Legal Aid Society (LAS) honored Paul, Weiss as a recipient of their 2014 Pro Bono Publico Awards for outstanding service to LAS and its clients. Every year, LAS recognizes the work of volunteer lawyers, law firms,…
Chambers USA 2013 Ranks Paul, Weiss Highly
- Jun 07, 2013
- Awards
Chambers USA 2013 Ranks Paul, Weiss Highly
District of Columbia: Antitrust, Joseph J Simons, Kenneth A Gallo, Litigation: General Commercial
Chambers USA 2012 Ranks Paul, Weiss Highly
- Jun 07, 2012
- Awards