ProfessionalsLorin L. Reisner

Lorin L. Reisner
Partner
Tel: +1-212-373-3250
Fax: +1-212-492-0250
emaillreisner@paulweiss.com
1285 Avenue of the Americas
New York,
NY
10019-6064
Fax: +1-212-492-0250
Lorin L. Reisner is a partner in the litigation department and Co-Chair of the firm’s White Collar and Regulatory Defense Practice. He has more than twenty years of experience representing companies, boards of directors and senior executives in a broad range of litigation and related matters. He previously served as a federal prosecutor and senior Securities and Exchange Commission enforcement official. Lorin’s practice emphasizes white collar matters, government investigations and complex business litigation.
EXPERIENCE
From January 2012 through June 2014, Lorin served as Chief of the Criminal Division of the U.S. Attorney's Office for the Southern District of New York, where he supervised the investigation and prosecution of federal crimes by a team of more than 160 Assistant U.S. Attorneys. The areas under his supervision included securities and commodities fraud, complex fraud and cybercrime, public corruption, terrorism and violent crime.
From 2009 until his appointment as Chief of the Criminal Division, Lorin served as the Deputy Director of the Enforcement Division of the U.S. Securities and Exchange Commission. In that position, he helped set enforcement priorities, supervised the work of the Division's more than 900 investigative professionals nationwide, made enforcement recommendations to the Commission and oversaw the trial and related litigation activity of the Enforcement Division. While at the SEC, Lorin helped oversee and implement the most significant reorganization of the Enforcement Division in more than thirty years and helped lead the Commission's most significant enforcement matters.
Lorin is widely recognized as one of the nation’s leading lawyers in connection with government investigations. His earlier government service also included serving as an Assistant United States Attorney for the Southern District of New York from 1990-1994, where he investigated and prosecuted financial crimes, public corruption and racketeering crimes. As an AUSA, Lorin received the Department of Justice's Director's Award for Superior Performance as an Assistant United States Attorney.
Some of Lorin's significant and publicly reported representations have included:
- Successfully represented one of the world’s largest technology companies in connection with an SEC investigation relating to accounting and financial reporting issues – the investigation was terminated without any enforcement action;
- Successfully represented a leading a private equity firm in connection with two SEC investigations relating to certain trading activities – the investigations were both terminated without any enforcement action;
- Successfully represented a leading financial services company in connection with an SEC investigation relating to certain trading and reporting issues – the investigation was terminated without any enforcement action;
- Successfully represented the parent company of a leading U.S. communications technology firm in connection with a Department of Justice investigation that concluded with a non-prosecution agreement and no financial penalty;
- Successfully represented a leading U.S. pharmaceutical company in parallel Department of Justice and SEC investigations involving financial reporting, resulting in a landmark deferred prosecution agreement;
- Successfully represented a leading retailer in parallel Department of Justice and SEC investigations into financial reporting and accounting issues;
- Successfully represented a major U.S. manufacturing and financial services company in parallel Department of Justice and SEC investigations into various securities trading activities by employees and others;
- Successfully represented a leading NYSE specialist firm in parallel Department of Justice and SEC investigations into various securities trading activities;
- Successfully represented a financial services company in defeating purported class action litigation challenging a substantial corporate transaction. (Gayman v. Principal Financial Services, Inc., 311 F.3d 851 (7th Cir. 2002));
- Successfully represented a financial services company in successfully defeating a purported class action challenge to a major corporate transaction (Kertesz v. The Phoenix Companies, Inc., Index No. 01/601887 (N.Y. Sup. Ct. 2002));
- Successfully represented the National Hockey League in various litigation matters, including defending use of the "Minnesota Wild" trademark by the NHL's Minnesota franchise (Minnesota Specialty Crops, Inc. v. Minnesota Wild Hockey Club, LP, 2002 WL 17639999 (D. Minn. 2002));
- Successfully represented American Lawyer Media in various litigation matters, including defeating defamation claims on motions for summary judgment that strengthened First Amendment protections for the media. (Burton v. American Lawyer Media, 847 A.2d 1115 (Conn. App. 2004); Fowler v. American Lawyer Media, Inc., 282 A.2d 1 (N.Y. App. Div. 2000));
- Successfully represented Gap Inc. in various litigation matters, including copyright litigation that resolved important issues of copyright law and resulted in the successful dismissal of substantially all claims. (On Davis v. Gap Inc., 246 F.3d 152 (2d Cir. 2001));
- Successfully represented entertainer Mariah Carey and others in defeating an attempt to re-litigate in state court alleged claims previously rejected in federal court. (Selletti v. Carey, 2003 WL 21744245 (2d Cir. 2003));
- Successfully represented the Washington Post Company in obtaining access to sealed court files in matters of substantial public interest. (Danco Laboratories, Ltd. v. Chemical Works of Gedeon Richter, Ltd., 274 A.D. 2d 1 (N.Y. App. Div. 2000));
- Successfully represented the National Football League in various matters, including a high-profile internal investigation and winning an injunction against an ambush marketing campaign that infringed NFL trademarks. (National Football League v. Coors Brewing Company, et al., 99 Civ. 4627 (DC), aff’d, 1999 U.S. App. Lexis 32547 (2d Cir. 1999)); and
- Successfully represented a leading U.S. radio broadcast company in obtaining the dismissal of copyright and other claims arising from a broadcast of the "Howard Stern Show." (Personal Publications, Inc. v. Sagittarius Broadcasting Corp., 42 U.S.P.Q. 2d 1089 (S.D.N.Y. 1996)).
Lorin has been recognized as a leader in White Collar Crime & Government Investigations and Media & Entertainment Litigation by Chambers USA: America’s Leading Lawyers for Business. He also is recognized by The Legal 500 as one of the nation’s leading White-Collar Defense lawyers. Lorin has also been named as one of the country’s top enforcement lawyers by Securities Docket. In 2019, Law360 named Lorin a White Collar MVP.
Related Resources
FCPA Enforcement and Anti-Corruption Developments: 2020 Year In Review
- Jan 22, 2021
- Publications
FCPA Enforcement and Anti-Corruption Developments: 2020 Year In Review
Despite the significant obstacles presented by COVID-19, the DOJ and the SEC assessed a record-breaking total in corporate FCPA penalties, and foreign authorities assessed a similar amount. The number of corporate FCPA enforcement…
FTC Seeks Information from Nine Social Media and Video Streaming Companies Regarding Their Data Collection, Use, and Advertising Practices
- Dec 22, 2020
- Publications
FTC Seeks Information from Nine Social Media and Video Streaming Companies Regarding Their Data Collection, Use, and Advertising Practices
The Federal Trade Commission recently issued orders to nine social media and video streaming companies to produce information on their customer base, their collection and use of personal information, their advertising and user…
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…
Lorin Reisner Publishes Op-Ed on the SEC as a Force For Progress in The Hill
- Nov 29, 2020
- Publications
Lorin Reisner Publishes Op-Ed on the SEC as a Force For Progress in The Hill
Litigation partner Lorin Reisner published an op-ed in The Hill, “How the SEC Can Promote Economic Justice Beyond Shareholders.”
FCPA Developments: Q3 2020
- Oct 16, 2020
- Publications
FCPA Developments: Q3 2020
Despite COVID-related challenges, FCPA enforcement by the DOJ and the SEC continued at full speed in the third quarter of 2020. Enforcement activity included three corporate resolutions by the DOJ and four resolutions by the SEC, as…
Lorin Reisner to Participate in Securities Enforcement Forum 2020
- Oct 28, 2020
- Events
Lorin Reisner to Participate in Securities Enforcement Forum 2020
Litigation partner Lorin Reisner will be featured as a panelist in the annual Securities Enforcement Forum. Lorin’s panel is entitled “Whistleblower Update – The Impact on Corporations and SEC Enforcement.”
Lorin Reisner, Richard Tarlowe and Harris Fischman to Participate in DOJ and SEC Enforcement and Litigation Virtual Panel
- Sep 15, 2020
- Events
Lorin Reisner, Richard Tarlowe and Harris Fischman to Participate in DOJ and SEC Enforcement and Litigation Virtual Panel
Litigation partners Lorin Reisner, Richard Tarlowe and Harris Fischman will participate in an upcoming virtual panel, “Hot Trends in DOJ and SEC Enforcement & Litigation,” presented by Sandpiper Partners LLC.
D.C. Circuit Curtails House of Representatives’ Oversight Authority, And Other Developments in Congressional Investigations
- Sep 04, 2020
- Publications
D.C. Circuit Curtails House of Representatives’ Oversight Authority, And Other Developments in Congressional Investigations
The D.C. Circuit recently issued a significant ruling that severely curtails the House of Representatives’ practical power to conduct oversight and investigations.
Paul, Weiss Secures Landmark Appellate Win in $50 Billion Lawsuit Against Blackstone at Kentucky Supreme Court
- Jul 09, 2020
- Client News
Paul, Weiss Secures Landmark Appellate Win in $50 Billion Lawsuit Against Blackstone at Kentucky Supreme Court
Paul, Weiss won a landmark victory on behalf of The Blackstone Group and Blackstone Alternative Asset Management.
Kentucky Supreme Court Dismisses $50 Billion Derivative Action Against Hedge Fund Managers for Lack of Standing
- Jul 14, 2020
- Publications
Kentucky Supreme Court Dismisses $50 Billion Derivative Action Against Hedge Fund Managers for Lack of Standing
Paul, Weiss obtains dismissal of $50 billion derivative action brought by beneficiaries of the Kentucky Retirement System against hedge fund managers and others. In a unanimous ruling, the Kentucky Supreme Court held that plaintiffs…
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.
DOJ Antitrust Division and SEC Sign Memorandum of Understanding on Cooperation
- Jun 24, 2020
- Publications
DOJ Antitrust Division and SEC Sign Memorandum of Understanding on Cooperation
On June 22, the DOJ’s Antitrust Division and the SEC announced that they have signed a memorandum of understanding to enhance cooperation between the two agencies. Beyond continuing cooperation in rulemaking, investigations and…
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.
DOJ 2020 Guidance for Evaluating Corporate Compliance Incorporates Feedback From Business and Compliance Communities
- Jun 08, 2020
- Publications
DOJ 2020 Guidance for Evaluating Corporate Compliance Incorporates Feedback From Business and Compliance Communities
The DOJ’s Criminal Division released updated guidance regarding the manner in which prosecutors evaluate the effectiveness of corporate compliance programs. The guidance makes clear that companies should continuously update their…
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…
SIFMA Successfully Resolves Landmark SEC Proceeding With National Securities Exchanges
- May 13, 2020
- Client News
SIFMA Successfully Resolves Landmark SEC Proceeding With National Securities Exchanges
Representing the U.S. broker-dealer industry and its industry organization, Securities Industry and Financial Markets Association (SIFMA), Paul, Weiss secured a highly favorable outcome in an unusual, high-stakes liability dispute…
Paul, Weiss Secures Release of Wrongfully Convicted Pro Bono Client
- May 04, 2020
- Client News
Paul, Weiss Secures Release of Wrongfully Convicted Pro Bono Client
U.S. District Judge Leon Jordan of the Eastern District of Tennessee ordered the release of Ronnie Cooper, a federal inmate convicted in 2010 based on his alleged participation in a drug trafficking ring and sentenced to 30 years in…
DOJ Announces Preliminary Inquiry into Potential Fraud in the Paycheck Protection Program
- May 05, 2020
- Publications
DOJ Announces Preliminary Inquiry into Potential Fraud in the Paycheck Protection Program
A senior DOJ official recently stated publicly that the DOJ has initiated a preliminary inquiry into potential fraud in the CARES Act’s Paycheck Protection Program and has already found possible fraud among businesses seeking relief.
Eni S.p.A. Agrees to Resolve FCPA Charges As Controlling Minority Shareholder of Saipem S.p.A.
- Apr 30, 2020
- Publications
Eni S.p.A. Agrees to Resolve FCPA Charges As Controlling Minority Shareholder of Saipem S.p.A.
On April 17, 2020, the U.S. Securities and Exchange Commission (“SEC”) announced that it had resolved charges against Eni S.p.A., an Italian headquartered multinational oil and gas company, for violations of the recordkeeping and…
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…
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…
SEC Enforcement Co-Directors Issue Statement on Potential Insider Trading and Selective Disclosure Risks Related to COVID-19
- Mar 25, 2020
- Publications
SEC Enforcement Co-Directors Issue Statement on Potential Insider Trading and Selective Disclosure Risks Related to COVID-19
On March 23, SEC Division of Enforcement Co-Directors Stephanie Avakian and Steven Peikin issued a statement concerning “market integrity” in light of the unprecedented impacts of the COVID-19 pandemic.
2020 FCPA Developments: A Judge Overturns Hoskins’s FCPA Guilty Verdict Under an Agency Theory; Cardinal Health Resolves FCPA Investigation with the SEC
- Mar 13, 2020
- Publications
2020 FCPA Developments: A Judge Overturns Hoskins’s FCPA Guilty Verdict Under an Agency Theory; Cardinal Health Resolves FCPA Investigation with the SEC
On February 26, 2020, the U.S. District Court for the District of Connecticut entered a judgment of acquittal for Lawrence Hoskins on all Foreign Corrupt Practices Act (“FCPA”) charges.[1] The ruling partly overturns a jury’s verdict…
Ring LLC Faces a Proposed Class Action Alleging Camera Doorbells Should Incorporate Enhanced Cybersecurity Features
- Feb 03, 2020
- Publications
Ring LLC Faces a Proposed Class Action Alleging Camera Doorbells Should Incorporate Enhanced Cybersecurity Features
On December 26, 2019, Amazon and Ring LLC were named as defendants in a putative class action filed in the U.S. District Court for the Central District of California by plaintiffs alleging claims of over $5 million.
Brad Karp and Lorin Reisner to Participate in Securities Litigation & Enforcement Institute Event
- Jan 29, 2020
- Events
Brad Karp and Lorin Reisner to Participate in Securities Litigation & Enforcement Institute Event
Firm chairman Brad Karp and litigation partner Lorin Reisner will participate in the New York City Bar’s Eighth Annual Securities Litigation & Enforcement Institute.
Anti-Spoofing Enforcement: 2019 Year in Review
- Jan 28, 2020
- Publications
Anti-Spoofing Enforcement: 2019 Year in Review
2019 marked another unprecedented year in civil and criminal anti-spoofing enforcement.
FCPA Enforcement and Anti-Corruption Developments - 2019 Year in Review
- Jan 24, 2020
- Publications
FCPA Enforcement and Anti-Corruption Developments - 2019 Year in Review
In this annual review, we reflect on the most significant anti-corruption and FCPA enforcement and policy trends of 2019 and share our insights on developing U.S. and global anti-corruption efforts in 2020.
Paul, Weiss Partners and Counsel Contribute Article on Cryptocurrency to DirectorCorps
- Dec 01, 2019
- Publications
Paul, Weiss Partners and Counsel Contribute Article on Cryptocurrency to DirectorCorps
Paul, Weiss partners Christopher Boehning, Roberto Gonzalez, Jeh Johnson, Claudine Meredith-Goujon, Lorin Reisner, Jeannie Rhee and Richard Tarlowe and counsel Steven Herzog published “Cryptocurrency Regulation Around the World: A…
Samsung Heavy Industries Agrees to Pay $75 Million to DOJ and Brazilian Authorities to Resolve FCPA Charges
- Dec 05, 2019
- Publications
Samsung Heavy Industries Agrees to Pay $75 Million to DOJ and Brazilian Authorities to Resolve FCPA Charges
On November 22, 2019, the Department of Justice announced that it had reached a resolution with Samsung Heavy Industries Company Ltd. (“SHI”) relating to a scheme to pay millions of dollars in bribes to officials of Petróleo…
Jury Convicts Foreign National of FCPA Violations under Agency Theory
- Nov 21, 2019
- Publications
Jury Convicts Foreign National of FCPA Violations under Agency Theory
On November 8, 2019, a Connecticut jury found Lawrence Hoskins, a British national and former executive of the French power and rail transportation company, Alstom S.A., guilty of participating in a scheme to bribe Indonesian…
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 …
Social Media Bot Company Devumi LLC Reaches $2.5 Million Settlement with FTC for Sale of Misleading Social Media “Influence Indicators”
- Oct 28, 2019
- Publications
Social Media Bot Company Devumi LLC Reaches $2.5 Million Settlement with FTC for Sale of Misleading Social Media “Influence Indicators”
On October 21, 2019, the Federal Trade Commission (“FTC”) settled its first-ever complaint against a company for selling fake indicators of social media influence such as phony likes, follows, views, and subscribers to users on…
Recent Cyber Attacks Target Asset Management Firms
- Oct 28, 2019
- Publications
Recent Cyber Attacks Target Asset Management Firms
A recent flurry of cyber attacks on asset managers should remind asset management firms and other financial institutions that they are attractive targets for cyber-exploitation and need to remain vigilant and institute appropriate…
DOJ Announces Guidance for “Inability-to-Pay” Claims
- Oct 10, 2019
- Publications
DOJ Announces Guidance for “Inability-to-Pay” Claims
On October 8, 2019, the Criminal Division of the U.S. Department of Justice released guidance on how federal prosecutors should evaluate claims that corporations are unable to pay a proposed fine or monetary penalty.
SEC Concludes the 2018-19 Fiscal Year with Four FCPA Enforcement Actions
- Oct 08, 2019
- Publications
SEC Concludes the 2018-19 Fiscal Year with Four FCPA Enforcement Actions
The SEC closed out its 2018-19 fiscal year by resolving four FCPA enforcement actions and assessing over $25 million in combined penalties, bringing the total number of SEC resolutions in 2019 to twelve.
Lorin Reisner to Speak at Securities Enforcement Forum
- Oct 23, 2019
- Events
Lorin Reisner to Speak at Securities Enforcement Forum
Litigation partner Lorin Reisner will participate on a panel addressing “SEC Practice – Developments in Administrative Proceedings, Trials, Testimony, Wells Process, Settlements and More,” at the 2019 Securities Enforcement Forum.
New York Governor Signs Data Security Law
- Jul 31, 2019
- Publications
New York Governor Signs Data Security Law
On July 25, 2019, New York Governor Andrew M. Cuomo signed into law a new data security law, the Stop Hacks and Improve Electronic Data Security (“SHIELD”) Act.
FCPA Enforcement and Anti-Corruption Developments: 2019 Mid-Year Review
- Jul 18, 2019
- Publications
FCPA Enforcement and Anti-Corruption Developments: 2019 Mid-Year Review
Robust FCPA enforcement activity continued in the first half of 2019. The DOJ and the SEC—resolving four and five corporate enforcement actions, respectively—assessed a combined total of $1.5 billion in corporate penalties, of which…
TechnipFMC Agrees to Pay $296 Million to DOJ and Brazilian Authorities to Resolve Criminal FCPA Charges; SEC Civil Charges Pending
- Jul 02, 2019
- Publications
TechnipFMC Agrees to Pay $296 Million to DOJ and Brazilian Authorities to Resolve Criminal FCPA Charges; SEC Civil Charges Pending
On June 25, 2019, the Department of Justice announced a resolution with Technip FMC PLC (“TFMC”), a London-headquartered, global provider of oil and gas technology and services that is listed on the New York Stock Exchange, for…
Walmart Pays $282 Million for Failing to Maintain a Sufficient Anti-Corruption Compliance Program
- Jun 25, 2019
- Publications
Walmart Pays $282 Million for Failing to Maintain a Sufficient Anti-Corruption Compliance Program
On June 20, 2019, the Department of Justice and the Securities and Exchange Commission announced long-awaited resolutions with Walmart, Inc. for violations of the books and records and internal accounting provisions of the Foreign…
New York DFS Creates New Cybersecurity Division
- May 29, 2019
- Publications
New York DFS Creates New Cybersecurity Division
On May 22, 2019, the New York State Department of Financial Services (“DFS”) announced the creation of a new Cybersecurity Division, which it described as the “first of its kind at a banking or insurance regulator.”
Lorin Reisner Examines “Mueller Doctrine” and Barr’s Response in Op-Ed in Bloomberg Law
- May 03, 2019
- Publications
Lorin Reisner Examines “Mueller Doctrine” and Barr’s Response in Op-Ed in Bloomberg Law
An op-ed by litigation partner Lorin Reisner entitled “’Mueller Doctrine’ Prevented Finding That Trump Committed Crimes” was published by Bloomberg Law and U.S. Law Week on May 3.
DOJ Updated Guidance for Evaluating Corporate Compliance Programs Focuses on Effectiveness
- May 06, 2019
- Publications
DOJ Updated Guidance for Evaluating Corporate Compliance Programs Focuses on Effectiveness
On April 30, 2019, the Criminal Division of the U.S. Department of Justice released updated guidance on how prosecutors evaluate the effectiveness of corporate compliance programs.
Lorin Reisner and Liza Velazquez to Participate in Trade Secrets Conference
- Feb 26, 2019
- Events
Lorin Reisner and Liza Velazquez to Participate in Trade Secrets Conference
Litigation partners Lorin Reisner and Liza Velazquez will be featured participants in an upcoming conference on trade secrets protection, enforcement and litigation, in view of the increasing number of DTSA (Defend Trade Secrets Act) …
Lorin Reisner to Participate in Annual Securities Regulation Institute
- Jan 28, 2019
- Events
Lorin Reisner to Participate in Annual Securities Regulation Institute
Litigation partner Lorin Reisner will participate in the 46th annual Securities Regulation Institute, hosted by the Northwestern Pritzker School of Law.
Anti-Spoofing Enforcement: 2018 Year in Review
- Jan 07, 2019
- Publications
Anti-Spoofing Enforcement: 2018 Year in Review
The past year brought a number of significant developments in anti-spoofing enforcement under the Commodity Exchange Act (“CEA”), beginning with the January 29, 2018 coordinated statements of the Commodity Futures Trading Commission…
IMG College and Learfield Complete Merger
- Dec 31, 2018
- Client News
IMG College and Learfield Complete Merger
In a deal bringing together two of sports’ largest multimedia rights and sponsorship businesses, Paul, Weiss represented IMG College, the collegiate division of Endeavor, in its merger with Learfield.
DOJ Announces New Standards for Corporate Cooperation
- Dec 05, 2018
- Publications
DOJ Announces New Standards for Corporate Cooperation
The Department of Justice announced last week significant changes to its policies for granting corporations credit for cooperating with criminal investigations.
Lorin Reisner to Participate in PLI Pocket MBA Program
- Nov 20, 2018
- Events
Lorin Reisner to Participate in PLI Pocket MBA Program
Lorin Reisner will speak on a panel at the Practising Law Institute’s 2018 Pocket MBA for Lawyers and Other Professionals. Lorin’s panel, “Regulatory and Legal Compliance in International Business and Trade,” will address regulatory…
Lorin Reisner Speaks at Securities Enforcement Forum
- Nov 01, 2018
- Events
Lorin Reisner Speaks at Securities Enforcement Forum
Lorin Reisner moderated a panel at The Securities Enforcement Forum in Washington, D.C. on November 1.
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…
Supreme Court Rules That Costs of Internal Investigation Are Not Recoverable As Restitution under the Mandatory Victims Restitution Act of 1996
- May 30, 2018
- Publications
Supreme Court Rules That Costs of Internal Investigation Are Not Recoverable As Restitution under the Mandatory Victims Restitution Act of 1996
On May 29, 2018, in Lagos v. United States, the Supreme Court unanimously held that the Mandatory Victims Restitution Act of 1996 (the “MVRA”)[1] does not require a criminal defendant to pay the costs and attorneys’ fees associated…
DOJ Issues New Policy on Coordination of Corporate Penalties to Address “Piling On”
- May 10, 2018
- Publications
DOJ Issues New Policy on Coordination of Corporate Penalties to Address “Piling On”
Yesterday, Rod Rosenstein, Deputy Attorney General of the U.S. Department of Justice, announced a new policy, in the form of an addition to the United States Attorneys’ Manual (“USAM”), concerning the coordination of corporate…
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.
Implications of the New EU Data Protection Regime and Its Expanded Application for Non-EU Entities
- Apr 26, 2018
- Publications
Implications of the New EU Data Protection Regime and Its Expanded Application for Non-EU Entities
The EU General Data Protection Regulation (the “GDPR”), approved and adopted by the European Union in April 2016, takes effect in all member states of the European Union on May 25, 2018.
Supreme Court Dismisses Microsoft Appeal as Moot After Passage of the CLOUD Act
- Apr 23, 2018
- Publications
Supreme Court Dismisses Microsoft Appeal as Moot After Passage of the CLOUD Act
As reported in our earlier client memorandum, in February 2018, the U.S. Supreme Court heard argument in United States Microsoft Corp., a case concerning the government’s ability to compel U.S. service providers to disclose email…
Lorin Reisner to Deliver Keynote Address at Gleiss Lutz Annual Compliance & Investigations Conference
- Apr 24, 2018
- Events
Lorin Reisner to Deliver Keynote Address at Gleiss Lutz Annual Compliance & Investigations Conference
Lorin Reisner will deliver the keynote address at the Gleiss Lutz Annual Compliance & Investigations Conference.
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…
AmTrust Financial to be Taken Private by CEO, Karfunkel-Zyskind Family and Stone Point Capital in $2.7 Billion Deal
- Mar 01, 2018
- Client News
AmTrust Financial to be Taken Private by CEO, Karfunkel-Zyskind Family and Stone Point Capital in $2.7 Billion Deal
Insurer AmTrust Financial Services Inc. agreed to be taken private by Paul, Weiss clients Barry Zyskind, chairman and CEO of AmTrust, and family members George Karfunkel and Leah Karfunkel, along with a unit of Stone Point Capital…
U.S. Supreme Court Hears Oral Argument on Extraterritorial Reach of Email Search Warrants in Microsoft Case
- Feb 28, 2018
- Publications
U.S. Supreme Court Hears Oral Argument on Extraterritorial Reach of Email Search Warrants in Microsoft Case
In a case that could have a major impact on how and where corporations store their customers’ electronic information, the U.S. Supreme Court heard oral arguments yesterday in United States v. Microsoft Corp. on the extraterritorial…
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…
SEC Issues Updated Guidance on Cybersecurity Disclosure
- Feb 27, 2018
- Publications
SEC Issues Updated Guidance on Cybersecurity Disclosure
The SEC recently provided updated guidance on cybersecurity-related disclosure obligations. We discuss the SEC’s new interpretive guidance, which seeks to assist companies in preparing disclosure concerning cybersecurity risks and…
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…
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…
Lorin Reisner to Participate in Panel Discussion at IBA Conference
- Nov 16, 2017
- Events
Lorin Reisner to Participate in Panel Discussion at IBA Conference
Litigation partner Lorin Reisner will speak on a panel at the International Bar Association’s Private Equity Transactions Symposium.
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…
Lorin Reisner to Speak on PLI Panel on Financial Improprieties and Fraud
- Nov 20, 2017
- Events
Lorin Reisner to Speak on PLI Panel on Financial Improprieties and Fraud
Litigation partner Lorin Reisner will speak on a panel at the Practising Law Institute’s seminar titled “Pocket MBA 2017: Finance for Lawyers and Other Professionals.”
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…
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…
Brad Karp, Lorin Reisner, Richard Tarlowe and Edward Turan to Speak at SIFMA’s Compliance and Legal Society Annual Seminar
- Mar 19, 2017
- Events
Brad Karp, Lorin Reisner, Richard Tarlowe and Edward Turan to Speak at SIFMA’s Compliance and Legal Society Annual Seminar
Litigation partners Brad Karp, Lorin Reisner, Richard Tarlowe and counsel Edward Turan will speak at the 2017 SIFMA Compliance and Legal Society’s Annual Seminar—the securities industry’s premiere event.
Client Alert: The Regulatory and Enforcement Outlook for Financial Institutions in 2017
- Feb 22, 2017
- Publications
Client Alert: The Regulatory and Enforcement Outlook for Financial Institutions in 2017
Economic sanctions, anti-money laundering and cybersecurity remain at the forefront of U.S. regulatory priorities. In this memorandum, we survey major developments and trends in these areas in 2016 and early 2017 and provide an…
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…
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: Federal Banking Agencies Issue Advanced Notice of Proposed Rulemaking on Enhanced Cybersecurity Standards
- Oct 21, 2016
- Publications
Client Alert: Federal Banking Agencies Issue Advanced Notice of Proposed Rulemaking on Enhanced Cybersecurity Standards
On October 19, the Federal Reserve Board ("Board"), the Federal Deposit Insurance Corporation ("FDIC"), and the Office of the Comptroller of the Currency ("OCC") jointly issued an advanced notice of proposed rulemaking ("ANPR")…
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.
Brad Karp and Lorin Reisner to Participate in PLI’s Annual Institute on Securities Regulation
- Nov 02, 2016
- Events
Brad Karp and Lorin Reisner to Participate in PLI’s Annual Institute on Securities Regulation
Firm chair Brad Karp and litigation partner Lorin Reisner will participate in the Practising Law Institute's 48th Annual Institute on Securities Regulation.
Client Alert: New York DFS Proposes New Rules on Cybersecurity
- Sep 15, 2016
- Publications
Client Alert: New York DFS Proposes New Rules on Cybersecurity
On Tuesday, the New York Department of Financial Services ("DFS") proposed new rules that would require covered financial institutions to establish and maintain cybersecurity programs designed to protect consumers and the…
Lorin Reisner Addresses Fraud, Corruption and Regulatory Risks at PLI’s Pocket MBA Event
- Oct 06, 2016
- Events
Lorin Reisner Addresses Fraud, Corruption and Regulatory Risks at PLI’s Pocket MBA Event
Litigation partner Lorin Reisner will participate in a panel discussion at the Practising Law Institute's "Pocket MBA Fall 2016: Finance for Lawyers and Other Professionals" seminar.
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…
New York DFS Finalizes Stringent Anti-Money Laundering and Sanctions Regulation
- Jul 01, 2016
- Publications
New York DFS Finalizes Stringent Anti-Money Laundering and Sanctions Regulation
Following Maria Vullo's confirmation as Superintendent earlier this month, the New York Department of Financial Services ("DFS") yesterday finalized its closely watched proposed regulation on anti-money laundering (AML) monitoring and …
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: FinCEN Issues Sweeping New Requirements on Collection of Beneficial Ownership Information and Customer Due Diligence
- May 10, 2016
- Publications
Client Alert: FinCEN Issues Sweeping New Requirements on Collection of Beneficial Ownership Information and Customer Due Diligence
On May 6, 2016, the U.S. Treasury Department's Financial Crimes Enforcement Network ("FinCEN") released a final rule codifying new and existing customer due diligence ("CDD") requirements under the Bank Secrecy Act ("BSA") for covered …
Client Alert: D.C. Circuit Reverses Rejection of Deferred Prosecution Agreement
- Apr 07, 2016
- Publications
Client Alert: D.C. Circuit Reverses Rejection of Deferred Prosecution Agreement
It has been a longstanding practice for courts to defer to the judgment of the government regarding the terms of a deferred prosecution agreement ("DPA"). A key component of this deference is a willingness by courts to toll …
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…
Client Alert: The CFPB Enters the Cybersecurity Arena with Its First Enforcement Action
- Mar 04, 2016
- Publications
Client Alert: The CFPB Enters the Cybersecurity Arena with Its First Enforcement Action
On March 2, the Consumer Financial Protection Bureau entered an enforcement order against online payment platform Dwolla, Inc. for deceiving consumers about its data security practices and the safety of its online payment system.
…Client Alert: New Federal Guidance on the Cybersecurity Information Sharing Act of 2015: What General Counsel Need to Know
- Feb 23, 2016
- Publications
Client Alert: New Federal Guidance on the Cybersecurity Information Sharing Act of 2015: What General Counsel Need to Know
The Cybersecurity Information Sharing Act of 2015 ("CISA") was signed into law on December 18, 2015. The law authorizes companies to monitor and implement defensive measures on their own information systems to counter cyber…
FinCEN Imposes Anti-Money Laundering Reporting Requirements
- Feb 02, 2016
- Publications
FinCEN Imposes Anti-Money Laundering Reporting Requirements
The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) issued Geographic Targeting Orders ("GTO") imposing temporary reporting requirements on title insurers with respect to "all-cash" purchases of high-end…
Awards & Recognition
Lorin Reisner Named to “Enforcement 40” by Securities Docket
- Oct 28, 2020
- Awards
Lorin Reisner Named to “Enforcement 40” by Securities Docket
Litigation partner Lorin Reisner was recognized by Securities Docket as part of the “Enforcement 40,” its list of the 40 best securities enforcement defense lawyers in the business.
Seven Paul, Weiss Partners Named Law360 MVPs
- Nov 12, 2019
- Awards
Seven Paul, Weiss Partners Named Law360 MVPs
Firm chairman Brad Karp and partners Scott Barshay, Paul Basta, Harris Freidus, Lorin Reisner, Rick Rule and Taurie Zeitzer have been honored with Law360 2019 MVP Awards, which recognize an elite slate of attorneys who have…