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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

Daniel Slifkin

Tel:
Work 212-474-1438
Email:
Cravath, Swaine & Moore LLP

Work Department

Litigation.

Position

Daniel Slifkin is a partner in Cravath’s Litigation Department and serves as the Firm’s Head of Litigation. Over the course of his 26 years at Cravath, Mr. Slifkin has tried numerous cases in state and federal courts, as well as in domestic and international arbitrations. He is among the few litigators to have ever taken a securities fraud class action through jury verdict.

Mr. Slifkin has extensive experience representing some of the world’s leading financial institutions on a wide range of matters, including antitrust claims; securities claims (both as issuer and underwriter); shareholder derivative claims; claims arising out of financial advisory work; claims relating to private equity portfolio companies; and general contract disputes. Mr. Slifkin’s financial services clients have included Barclays, Chemical Bank, Credit Suisse, DLJ, JPMorgan Chase, Lindsay Goldberg, Morgan Stanley, Salomon Brothers and Westpac.

Mr. Slifkin has also represented major corporations in numerous other industries, including Alcoa, BAE Systems, Deloitte & Touche, IBM, Lucent Technologies, priceline.com and Vivendi. He has substantial experience in antitrust, arbitration, bankruptcy, employment, intellectual property and securities, as well as general commercial litigation, and has represented clients in regulatory investigations by the DOJ, SEC and European Union.

Mr. Slifkin’s representative matters include:

Securities

• Representing Akorn Pharmaceuticals and its executive officers in a consolidated securities class action lawsuit in Illinois federal court seeking damages for alleged misrepresentations related to the company’s acquisitions of Hi-Tech Pharmacal and VersaPharm. Mr. Slifkin is also representing Akorn in related shareholder derivative actions and an SEC investigation.

• Representing Insys Therapeutics and its management in securities class action litigation both in Arizona federal court and in New York federal court alleging that the company’s financial statements and other statements made by the defendants were false and misleading.

• Representing Juno Therapeutics and certain of its executives in a securities class action in Washington federal court alleging that defendants failed to disclose side effects associated with an immunotherapy drug, resulting in a stock price drop when the clinical trial was halted.

• Representing Vivendi for over a decade in some of the most significant and complex securities actions in recent history, including in a long-running class action that culminated in a four-month long, “f-cubed” securities fraud jury trial, and in a four-week jury trial over securities and contract claims brought by Liberty Media.

• Represented JPMorgan Chase and related entities (including Bear Stearns and Washington Mutual) in numerous RMBS actions filed across the country, including the first two major RMBS investor actions to proceed through conclusion of discovery and summary judgment. In one action, Mr. Slifkin won a motion for judgment on the pleadings that removed from litigation bonds worth $8 billion.

• Represented priceline.com in a securities class action (which settled favorably) and in a related derivative suit (won both in the Delaware Chancery and Supreme courts).

• Represented Lucent Technologies and several former and current directors and officers in over 50 shareholder and related ERISA, bondholder, debt security holder, derivative and state securities law litigations, all of which settled on favorable terms.

General Commercial

• Representing the Republic of Argentina in connection with litigation brought by holders of its defaulted sovereign debt. After being retained as new counsel to Argentina in February 2016,
Mr. Slifkin was part of the team that obtained the vacatur of extraordinary injunctions that had been imposed on Argentina in 2012 and 2015, first at the District Court level and then on an expedited appeal before the Second Circuit. The victory cleared the way for Argentina to resolve the vast majority of its litigation with holdout creditors and return to the international capital markets for the first time since its $80 billion default in 2001, with the largest emerging markets debt issuance at the time. 

• Represented IBM in a breach of contract action relating to the sale of IBM’s printer division to Lexmark and obtained a judgment in excess of $55 million in favor of IBM following a two-week bench trial.

• Represented Morgan Stanley as plaintiff in a breach of contract action against Discover Financial Services and won summary judgment, after which Discover settled, paying Morgan Stanley $775 million.

Antitrust

• Representing Westpac Banking Corporation in a purported class action lawsuit alleging manipulation of the Australian Bank Bill Swap Reference Rate (the BBSW).

• Representing Morgan Stanley in several individual and class action lawsuits alleging collusion among banks to restrain competition by preventing the development of anonymous exchange trading of various complex financial products, including credit default swaps, interest rate swaps and stock loans, as well as related regulatory inquiries. Mr. Slifkin previously represented Morgan Stanley in the now settled In re Credit Default Swaps Antitrust Litigation.. 

Arbitration

• Represented a major American industrial company in an arbitration in London, conducted under International Chamber of Commerce rules, against one of its European customers in a dispute as to the correct interpretation of the contracts between the parties. 

• Represented a European auto parts manufacturer in an arbitration before the American Arbitration Association regarding a breach of contract and breach of fiduciary duty dispute arising out of a joint venture agreement between the company and a Mexican auto parts manufacturer.

• Represented Alcoa in an arbitration with The Fairchild Corporation concerning indemnification claims. Following a two-week arbitration trial, the arbitrator found in favor of Alcoa and this ruling was upheld after a challenge before the District Court.

Bankruptcy

• Represented Alcoa in an adversary proceeding brought by the Trustee of Longview Aluminum LLC and secured summary judgment for Alcoa on all claims.

• Represented Lucent Technologies in an adversary proceeding brought by the Chapter 7 trustee of Winstar Communications alleging that Lucent breached various agreements related to the expansion of Winstar’s worldwide broadband network, which culminated in a 21-day bench trial.

Intellectual Property

• Represented Alcoa in a two-week jury trial and obtained judgment upholding the validity of Alcoa’s patent on high damage-tolerance aluminum alloys used to manufacture the fuselage skin of the Boeing 777 aircraft.

• Represented IBM in a patent infringement lawsuit brought by BTAX Corporation concerning IBM's microprocessor architecture. 

• Represented priceline.com in its suit against Microsoft and Expedia for patent infringement.

Career

Mr. Slifkin joined Cravath in 1991 and became a partner in 1998.

Mr. Slifkin has been recognized twice as “Litigator of the Week” in The Am Law Litigation Daily: first, for his representation of Morgan Stanley in Morgan Stanley v. Discover Financial Services, a breach of contract action in which he obtained a judgment of over $800 million against Discover Financial Services and, second, for his representation of JPMorgan in Dexia SA/NV, et al. v. Bear, Stearns & Co., et al., in which he obtained a summary judgment victory that eliminated from litigation certificates worth over $1.5 billion. The Financial Times’ U.S. Innovative Lawyers Report, which ranks innovative work in the legal sector based on originality, rationale and impact, has featured Mr. Slifkin’s work three times, highlighting his representation of JPMorgan and Vivendi in securities litigation matters. Mr. Slifkin was selected by Lawdragon as one of “500 Leading Lawyers in America” from 2009 through 2018 and was named to Lawdragon’s list of “100 Lawyers You Need to Know in Securities Litigation.” From 2013 through 2018, he was ranked as a leading securities litigator by Chambers USA. From 2013 through 2017, Mr. Slifkin was recommended for his work in financial services and securities litigation by The Legal 500 United States. The Legal 500 also recommended him for his antitrust litigation (2017) and commercial litigation (2015) work. Benchmark Litigation named Mr. Slifkin a “National Star” in general commercial litigation in 2011 and a “National Star” in securities litigation from 2014 through 2018. Mr. Slifkin was recognized for his expertise in international arbitration in the 2015‑2016 edition of the Leaders League Litigation & International Arbitration Report. The Best Lawyers in America named him a leader in securities, commercial and banking and finance litigation in 2018.

Member

Mr. Slifkin is a member of the Second Circuit Courts Committee of the Federal Bar Council, a fellow of the American Bar Foundation and a member of the International Bar Association. He is also Vice‑Chairman of the Board of Americans for Oxford. Mr. Slifkin is a member of the Second Circuit Courts Committee of the Federal Bar Council, a fellow of the American Bar Foundation and a member of the International Bar Association. He is also Vice‑Chairman of the Board of Americans for Oxford.

Education

Mr. Slifkin received a B.A., with first class honors, from Oxford University in 1987, where he was awarded the Martin Wronker Prize (Torts); a B.C.L., with first class honors, from Oxford University in 1988; and a J.D. magna cum laude from Harvard Law School in 1991, where he was an Editor of the Harvard Law Review and a Sears Prize winner.


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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United States: Dispute resolution

Financial services litigation

Within: Financial services litigation

Leveraging the expertise of a sizeable roster of seasoned trial lawyers, Cravath, Swaine & Moore LLP’s litigation team is regularly sought out by many of the largest financial institutions to represent them in high-stakes, reputational threatening disputes. Spearheaded by the ‘excellentRichard Clary, the firm continues to act as national co-ordinating counsel to Credit Suisse on its residential-mortgage backed securities (RMBS) litigation and has to date secured the dismissal or withdrawal of claims covering approximately $14.1bn in securities. In only the second RMBS investor case to go to trial, the team defended Credit Suisse against misrepresentation claims bought by Massachusetts Life Insurance Company regarding the offering documents connected to the purchased securities (the matter settled prior to the conclusion of the trial). Clary also continues to represent Credit Suisse in numerous other major and varied pieces of litigation, including a residual case brought against the bank by four hedge funds relating to the historical collapse of Enron and as defendant in a lawsuit filed by US soldiers wounded in Iraq (as well as by the estates of US soldiers killed in Iraq) alleging offences under the Anti-Terrorism Act. Head of litigation Daniel Slifkin has a wealth of experience acting for financial institutions such as Morgan Stanley, which he is representing in several antitrust-related disputes, including in relation to an allegation that it and several other financial institutions boycotted and conspired to block the emergence of Tera Group’s credit default swap (CDS) trading platform. Lauren Moskowitz is also recommended and has had a key role in the aforementioned Credit Suisse RMBS litigation.

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Securities litigation: defense

Within: Securities litigation: defense

Cravath, Swaine & Moore LLP in New York has a deep bench that handles high-stakes securities litigation for corporates and investment banks. The firm is the preferred counsel for Credit Suisse Group for high-value litigation and Richard Clary played a key role in obtaining successful outcomes in notable class actions, particularly those related to residential mortgage-backed securities (RMBS) transactions. With Michael Reynolds and rising star Lauren Moskowitz, he took Massachusetts Mutual Life Insurance Company v Credit Suisse First Boston Mortgage Securities Corp, et al to trial, achieving a favorable settlement before conclusion. Kevin Orsini, David Marriott and Rory Leraris is advising Mylan on a class action alleging that the company made false and misleading statements regarding, inter alia, its classification of the EpiPen treatment. ‘Terrific litigatorAntony Ryan, David Stuart and head of litigation Daniel Slifkin secured a favorable settlement for Akorn Inc in a case seeking damages for alleged misrepresentations about the company’s business, operations and internal controls. The firm’s highly recommended partners include Robert Baron, Karin DeMasi, Timothy Cameron and Evan Chesler.

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