What we say about the firm's legal practice in United States
Litigation
Within White-collar criminal defense , tier 6
Based out of its Los Angeles and San Francisco offices, the ‘terrific’ Munger, Tolles & Olson has an excellent reputation across a diverse suite of mandates, from stock options backdating and securities fraud to campaign finance violations. With 13-former Justice Department lawyers among its ranks, the firm is well-placed to represent clients before the enforcement agencies and is able to leverage its ‘tremendous trial capability’. While it lacks a New York presence and is to some extent less visible in some of the major big-ticket mandates arising out of the financial crisis, the firm is by no means limited to work originating out of the West Coast. This manifests itself particularly starkly when conducting internal investigations on behalf of major multinational corporates in FCPA-related matters. Formerly a federal prosecutor, the ‘fantastic’ Jerome Roth has a superb reputation for representing both corporates and individuals in high-profile SEC enforcement actions or internal investigations, including recently acting for the former CFO of Apple in a stock-options backdating investigation. Another marquee name is Brad Brian, who can draw on a vast reservoir of expertise representing clients in high-profile trials.
Mergers, acquisitions and buyouts
Within M&A: middle-market (sub-$500m), Munger, Tolles & Olson is a third tier firm,
Munger, Tolles & Olson has delivered results in transactional matters for many years, including creating the first-ever security with negative interest for Berkshire Hathaway, taking Oaktree Capital public in a first-ever transaction, structuring the charitable gift of Warren Buffett to the Bill & Melinda Gates Foundation, advising Yahoo! on corporate governance issues in the midst of public scrutiny, and advising Universal Music Group on its combination with BMG Music Publishing. Recently, the firm represented Berkshire Hathaway in its acquisition of Burlington Northern Santa Fe Corporation for cash and stock, the deal being the largest acquisition in Berkshire Hathaway history. The Yucaipa Companies and Americold Realty Trust were assisted in the $2bn restructuring of Hf Eimskipafelag Islands and related acquisition by Yucaipa of a 49% stake in Canada’s Versacold International Corporation. The firm also advised Hugh Hefner in his recent bid to take the iconic brand, Playboy Enterprises, private. Other active clients include KB Home, Edison International and Wasserman Media Group. Robert Knauss in Los Angeles leads the team. Also in Los Angeles, Brett Rodda is a key contact. Clients praise the team’s ‘timely responses, professional skills and appropriate advice of all team members’.
Tax
Within Domestic tax: West Coast, tier 4
Munger, Tolles & Olson’s tax department provides a comprehensive service in federal taxation, handling large and mid-tier transactions and advisory matters as well as controversy. Stephen Rose heads the tax department from Los Angeles; he recently provided advice to Berkshire Hathaway in its $44bn acquisition of the remaining 77% of outstanding Burlington Northern Santa Fe Corporation shares not already owned; the deal was structured as a tax free merger. Also recommended, David Goldman advised Oaktree Capital Management in connection with its investment in, and the restructuring of, German yacht maker Bavaria Yachtbau. Practice clients include Edison International, United Talent Agency and Universal Music Group.