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Cravath, Swaine & Moore LLP

WORLDWIDE PLAZA, 825 EIGHTH AVENUE, 10019-7475, USA
Tel:
Work +1 212 474 1000
Fax:
Fax +1 212 474 3700
Email:
Web:
www.cravath.com
London, NEW YORK

Richard Clary

Tel:
Work (212) 474-1227
Email:
Web:
www.cravath.com/rclary/
Cravath, Swaine & Moore LLP

Work Department

Litigation.

Position

Richard W. Clary is a partner in Cravath’s Litigation Department and the Firm’s former Head of Litigation.  Mr. Clary’s cases have included securities defense; antitrust (plaintiff and defense sides); patent, trade secret and trademark litigation (plaintiff and defense sides); cable piracy litigation; bankruptcy litigation (debtor and creditor sides); commercial litigation; fraud, FCPA and bribery litigation; Anti‑Terrorism Act litigation; and civil rights and constitutional rights litigation.  Mr. Clary has extensive district court and appellate experience; he has also handled both international and domestic arbitrations.

Career

 


United States: Dispute resolution

Appellate

Within: Appellate

Cravath, Swaine & Moore LLP regularly handles the appellate stage in matters in which the group is already conducting trial court litigation. In the antitrust enforcement case of Ohio v American Express Co., the team successfully defended the respondent against claims brought before the US Supreme Court; Evan Chesler presented arguments and convinced the Court to reject antitrust challenges to American Express’ anti-steering provisions contained in its merchant contracts. In a highlight at the New York State Court of Appeals, the trio of Richard Clary, Michael Reynolds and Lauren Moskowitz secured a victory for Credit Suisse Securities USA by achieving the dismissal of claims brought pursuant to the Martin Act, a New York anti-fraud law. Antony Ryan and Gary Bornstein are also key figures. In September 2018, former judge Katherine Forrest re-joined the firm.

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Financial services litigation

Within: Leading lawyers

Richard Clary - Cravath, Swaine & Moore LLP

Within: Financial services litigation

Praised for its ability to 'muster impressively cohesive intellectual firepower', New York-headquartered Cravath, Swaine & Moore LLP provides a seamless service to a wide range of financial services clients, from the initial agency investigation and enforcement action through to the private class actions that frequently follow in their wake. The team continues to handle a significant amount of antitrust-related disputes for financial services clients, including American Express, which renowned trial lawyer Evan Chesler successfully represented before the US Supreme Court (thereby bringing an end to an eight year lawsuit brought by the DOJ and 17 state attorneys general). In another notable market manipulation-related dispute, John Buretta successfully secured the dismissal of a consolidated class action brought against Nomura International as one of the alleged participants in collusion and price fixing among numerous financial institutions of supranational, sub-sovereign and agency bonds. Appreciated by clients for his 'strong intellect and excellent bedside manner', Richard Clary is regularly at the forefront of the most significant financial services litigation handled by the firm, including his defense, along with Lauren Moskowitz and Michael Reynolds, of Credit Suisse in residential-mortgage backed securities (RMBS) litigation brought against it in the immediate aftermath of the financial crisis. Daniel Slifkin and Michael Paskin are also regularly involved in financial services-related litigation and have both been pivotal to the firm's defense of Morgan Stanley in individual and class action lawsuits alleging collusion among banks to restrain competition in the market for certain derivatives.

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General commercial disputes

Within: General commercial disputes

'Intellect and litigation strategy are key strengths’ at Cravath, Swaine & Moore LLP, which is noted for its 'solid, remarkably thorough work’. The firm had another busy year in 2018, continuing to handle high-profile and high-stakes cases. Highlights included representing Qualcomm in consolidated actions in the Southern District of California against Apple concerning Qualcomm's patent licensing and modem chipset businesses; the team included Evan Chesler, J Wesley Earnhardt and Vanessa Lavely, who was promoted to partner in 2018. Elsewhere, Benjamin Gruenstein represented Avon in a breach of contract dispute filed by ASG, Technologies, while in the New York State Court of Appeals, Richard Clary, Michael Reynolds and Lauren Moskowitz secured the dismissal of a Martin Act claim against client Credit Suisse filed by the New York Attorney General. In a significant development in September 2018, former District Judge for the Southern District of New York Katherine Forrest returned to the firm. Darin McAtee is 'a first-rate trial lawyer with outstanding performance in the courtroom’ and Omid Nasab is also recommended. Key litigator David Marriott is another name to note.

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Leading trial lawyers

Within: Leading lawyers

Richard Clary - Cravath, Swaine & Moore LLP

Within: Leading trial lawyers

Richard Clary - Cravath, Swaine & Moore LLP Richard Clary has extensive experience in defending financial institutions in a wide variety of civil and commercial disputes ranging from securities litigation and bankruptcy-related claims. He is representing Credit Suisse in a number of different matters, including one case that was successfully appealed in the US District Court bought by Lehman Brothers Special Financing. Other clients include IBM and JPMorgan Chase.

Within: Leading trial lawyers - ranked: tier 3

Richard Clary - Cravath, Swaine & Moore LLP

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Securities litigation - defense

Within: Leading lawyers

Richard Clary - Cravath, Swaine & Moore LLP

Within: Securities litigation - defense

Cravath, Swaine & Moore LLP in New York has a deep bench of 'hardworking, thoughtful attorneys', who frequently handle complex, high-value and precedent-setting cases. With 24 partners handling securities litigation and enforcement, the team is not among the largest, but it has highly prominent lawyers such as Richard Clary, who is 'someone that other defence lawyers look up to', Antony Ryan and head of litigation Daniel Slifkin. Slifkin, Ryan and regulatory enforcement specialist David Stuart acted for ophthalmic pharmaceutical manufacturer Akorn, Inc in a purported consolidated securities class action and a consolidated derivative action in which plaintiffs sought $150m in damages for alleged misrepresentations by the company concerning its business, operations and internal controls. For the same client, Robert Baron is handling a stock-drop class action arising from an investigation into data integrity issues. Among the other standout partners are Karin DeMasi, who is handling a class action concerning technology company Greensky's IPO; Timothy Cameron; rising star Lauren Moskowitz; and Rachel Skaistis, who handled a stock-drop case for El Pollo Loco.

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