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Cravath, Swaine & Moore LLP

Work +1 212 474 1000
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London, NEW YORK

Michael Paskin

Work (212) 474-1760
Cravath, Swaine & Moore LLP

Work Department



Michael A. Paskin is a partner in Cravath’s Litigation Department. He serves as the Litigation Hiring Partner and is a member of the Firm’s Diversity Committee.

Over the course of more than 20 years at the Firm, his practice has focused on class actions and other complex litigation, primarily in the areas of securities, antitrust, bankruptcy, mergers and acquisitions and general commercial disputes. Mr. Paskin has represented many of the world’s leading financial institutions, including JPMorgan Chase, Morgan Stanley, Credit Suisse and Westpac, in matters involving complex financial products such as residential mortgage‑backed securities, credit default swaps, interest rate swaps and other derivatives, as well as interest rate benchmarks. He also has represented corporate clients in a variety of industries, including Big Lots, Beazer Homes, Cummins, Sprint, Lucent Technologies, IBM and YPF S.A. In addition, Mr. Paskin represents corporations and boards of directors in connection with internal investigations and inquiries by U.S. and foreign regulators, including the SEC, DOJ, CFTC and European Commission.

In April 2016, Mr. Paskin was featured as “Litigator of the Week” in The AmLaw Litigation Daily for his representation of the Republic of Argentina in connection with litigation arising from its $80 billion sovereign debt default in 2001. After being retained as new counsel to Argentina in February 2016, Mr. Paskin led a team that obtained the vacatur, first at the S.D.N.Y. and then on an expedited appeal before the Second Circuit, of extraordinary injunctions that were imposed on Argentina in 2012 and 2015. The victory cleared the way for Argentina to return to the international capital markets for the first time since its historic default. Mr. Paskin's work for Argentina also received an award for Innovation in Legal Work in Latin America in the Financial Times North America Innovative Lawyers 2016 report, and a National Impact Case Award from Benchmark Litigation

Mr. Paskin’s other notable representations include:


JPMorgan RMBS Litigations: Defended JPMorgan and related entities—including WaMu and Bear Stearns—in numerous cases brought by RMBS investors. In In re Washington Mutual Mortgage Backed Securities Litigation (W.D.Wash.), Mr. Paskin won one of a handful of decisions limiting RMBS class claims based on tranche-level standing, which eliminated claims covering approximately $7.5 billion in securities. The case settled shortly before a scheduled jury trial for less than 5% of claimed damages on the remaining tranches. Mr. Paskin also represented JPMorgan, Bear Stearns and WaMu affiliates in Dexia SA/NV, et al. v. Bear, Stearns & Co., et al. (S.D.N.Y. and N.Y. Sup. Ct.), winning summary judgment in federal court that eliminated from litigation certificates worth over $1.5 billion and reduced claimed damages by over 99%.

Willis v. Big Lots, Inc., et al. and In re Big Lots, Inc. Shareholder Litigation (S.D. Ohio): Representing Big Lots and several of its officers and directors in a securities class action and related derivative litigations alleging insider trading and false statements regarding the company's performance and sales prospects. Mr. Paskin also represented Big Lots in connection with related investigations by the U.S. Attorney’s Office (S.D.N.Y.) and SEC that were closed with no action being taken.

In re Chemed Corp. Securities Litigation (S.D. Ohio) and In re Chemed Corp., Shareholder Derivative Litigation (D. Del.): Representing Chemed Corp. and individual defendants in class action securities litigation and related shareholder derivative actions.

• Lentsch v. Vista Outdoor Inc., et al. (D. Utah): Representing Vista Outdoor Inc. and current and former executives in a putative securities class action related to alleged misrepresentations made about the company’s financial performance and goodwill impairments.

• State of New Jersey and its Division of Investment v. Sprint Corporation, et al. (D. Kan.): Won summary judgment in 2010 for Sprint Nextel Corporation in a securities class action alleging fraudulent statements concerning long-term employment contracts with Sprint’s former CEO and President.  Paskin also represented Sprint and its outside directors in a class action in Kansas state court claiming breaches of fiduciary duty in connection with the recombination of Sprint’s FON and PCS “tracking stocks.”  

• In re Beazer Homes USA, Inc. Securities Litigation (N.D. Ga.): Represented Beazer in securities class action and derivative litigation alleging improper mortgage origination practices and accounting improprieties designed to obscure the impact of the declining housing market.

• Represented Lucent Technologies in one of the largest securities fraud class actions in history (D.N.J.), and related federal and state securities, derivative, whistleblower and bankruptcy litigation and SEC and U.S. Attorney investigations.

• Won summary judgment for IBM in securities class action litigation (S.D.N.Y.) relating to allegations that IBM made false statements concerning the level of its stock dividend.


In re Interest Rate Swaps Antitrust Litigation (S.D.N.Y.): Representing Morgan Stanley in consolidated MDL litigation alleging that it and other dealers conspired to foreclose the emergence of exchange trading of IRS, as well as a related investigation by the CFTC.

• Iowa Public Employees’ Retirement System, et al. v, Bank of American Corp., et al. (S.D.N.Y.): Representing Morgan Stanley in a purported antitrust class action alleging that prime brokerage firms conspired to block anonymous peer‑to‑peer trading platforms for securities lending.

• Tera Group, Inc., et al. v. Citigroup, Inc., et al.
(S.D.N.Y.): Representing Morgan Stanley in an antitrust action alleging that credit default swaps dealers boycotted and conspired to block the emergence of competing CDS trading platforms.

In re Credit Default Swaps Antitrust Litigation (S.D.N.Y.): Represented Morgan Stanley in an antitrust class action alleging that dealers conspired to block exchange trading of CDS. Mr. Paskin also advised Morgan Stanley in connection with related DOJ and European Commission inquiries that were closed with no action being taken against Morgan Stanley.

• Bank Bill Swap Rate (BBSW) Litigation (S.D.N.Y.): Representing Westpac Banking Corporation in purported class action litigation alleging that Westpac and other banks manipulated the Australian BBSW benchmark.

• In re Aftermarket Filters Antitrust Litigation (N.D. Ill.): Represented Cummins Filtration Inc. in a consolidated MDL proceeding alleging price‑fixing in the market for automotive replacement filters.

• Represented IBM in connection with the contested termination of a 1956 DOJ antitrust consent decree, as well as a DOJ antitrust investigation into agreements between IBM and Storage Technology Corporation.

General Commercial Litigation

Petersen Energía Inversora v. Argentine Republic and YPF S.A. and Eton Park Capital Management v. Argentine Republic and YPF S.A. (S.D.N.Y.): Representing YPF S.A. against claims by minority shareholders arising out of Argentina’s 2012 expropriation of a controlling stake in YPF.

• Morgan Stanley v. Discover Financial Services (N.Y. Sup. Ct.): Won partial summary judgment for Morgan Stanley in a breach of contract action based on Discover’s refusal to pay a special dividend of approximately $800 million..

• Successfully represented Big Lots in an action to block a research analyst from wrongfully obtaining and publishing confidential and proprietary information concerning Big Lots’ business.

• IBM v. Lexmark (S.D.N.Y.): Represented IBM in a contract action relating to the transfer of pension assets in connection with IBM’s sale of its printer business.  The case culminated in a two-week bench trial and judgment for IBM in excess of $55 million.  


In re Maxus Energy Corp., et al. (Bankr. D. Del.): Representing YPF S.A. in connection with claims expected to be asserted on behalf of the post‑confirmation Chapter 11 estate of its former subsidiary, Maxus, seeking to hold YPF responsible for massive environmental liabilities as the alleged alter ego of Maxus.

In re Energy Futures Holdings Corp., et al. (Bankr. D.Del.): Conflicts counsel to the independent director of Energy Future Intermediate Holdings Company LLC in connection with the $49 billion bankruptcy of the largest electricity utility in Texas.

In re Tribune Company, et al. (Bankr. D.Del.): Represented various affiliates of both Dimensional Fund Advisors and Goldman Sachs in connection with adversary proceedings and other litigation related to the Tribune bankruptcy.

In re Tronox Incorporated (Bankr. S.D.N.Y.): Represented Credit Suisse, JPMorgan and other secured lenders in an adversary proceeding that sought to avoid transfers and obligations under a $200 million secured debt facility.

• Represented Lucent Technologies in an adversary proceeding (Bankr. D.Del.) brought by the Chapter 7 trustee of Winstar Communications, culminating in a 21-day bench trial.

Mergers and Acquisitions Litigation

• Represented Symetra Financial Corporation and its board in shareholder litigation arising out of its $3.8 billion acquisition by Sumitomo.

• Won motions to dismiss for Casey’s General Stores and its board in Iowa state and federal court litigations related to the attempted hostile takeover of Casey’s by Alimentation Couche-Tard.

• Represented the Haas Trusts, the largest shareholder of Rohm and Haas Company, in contested M&A litigation with Dow Chemical. The litigation settled based on the Haas Trusts’ agreement to make an equity investment in Dow, which cleared the way for the $15.5 billion acquisition.

• Represented EMBARQ Corporation and its board in shareholder litigation arising out of its acquisition by CenturyTel.

• Represented GTECH Holdings and its board in shareholder litigation arising out of its merger with Lottomatica. 


Following graduation from law school, Mr. Paskin served as law clerk to Hon. Paul J. Kelly, Jr. of the U.S. Court of Appeals for the Tenth Circuit. He joined Cravath in 1996 and became a partner in 2003.

Mr. Paskin was recognized as one of the “Top 100 Trial Lawyers in America” and as a “National Star” in general commercial litigation (2017, 2018) and antitrust litigation (2018) by Benchmark Litigation. He was also recognized as a “Local Litigation Star” in New York by that publication (2016-2018). In 2017 and 2018, he was selected as one of Lawdragon’s “500 Leading Lawyers in America.” Mr. Paskin was also recommended by The Legal 500 United States for his work in the financial services, corporate restructuring, antitrust and securities litigation practice areas, and he has also been recognized by The Best Lawyers in America and Super Lawyers for his litigation work.


Mr. Paskin is a member of the International Bar Association, American Bar Association and New York City Bar Association.


Mr. Paskin received a B.A. cum laude from the University of Pennsylvania in 1992 and a J.D. from Fordham School of Law in 1995, where he was a member of the Law Review.

United States: Antitrust

Civil litigation/class actions: defense

Within: Civil litigation/class actions: defense

New York-based Cravath, Swaine & Moore LLP has earned a strong reputation as a major player in class actions, individual actions and arbitrations. It represents many industry leaders and blue-chip companies from a wide range of sectors, including pharmaceuticals, financial services, transportation, chemicals and telecoms. Evan Chesler and David Marriott are the key partners representing Mylan Laboratories in a set of lawsuits related to alleged reverse payment settlement agreements between Cephalon and generic drug manufacturers. Daniel Slifkin, Michael Paskin and Damaris Hernández are defending Morgan Stanley in litigation brought by Tera Group over an alleged conspiracy among 12 credit default swap (CDS) dealers to boycott and block the emergence of Tera’s CDS trading platform. Kevin Orsini and Peter Barbur are recommended. Christine Varney leads the team. Other clients of the firm include Blue Cross Blue Shield of Tennessee, Anheuser-Busch InBev, Alcon Laboratories and American Express.

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