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Paul, Weiss, Rifkind, Wharton & Garrison LLP

1285 AVENUE OF THE AMERICAS, NEW YORK, NY 10019-6064, USA
Tel:
Work +1 212 373 3000
Fax:
Fax +1 212 757 3990
Web:
www.paulweiss.com
Beijing , Hong Kong , London , New York , Tokyo , Toronto and 2 more

Brad S. Karp

Tel:
Work 212-373-3316
Email:
Paul, Weiss, Rifkind, Wharton & Garrison LLP

Work Department

Litigation, Cybersecurity & Data Protection, Financial Institutions, Insurance, International Arbitration, Securities Litigation, White Collar & Regulatory Defense

Position

Click here for attorney bio

Education

J.D., Harvard Law School, 1984 cum laude; B.A., Union College, 1981 summa cum laude, Phi Beta Kappa


United States: Antitrust

Civil litigation/class actions

Within: Civil litigation/class actions

Paul, Weiss, Rifkind, Wharton & Garrison LLP has seen its fair share of cases in sectors that have been active on the antitrust litigation front. In financial services, firm chairman Brad Karp and Andrew Finch led advice to Deutsche Bank in the international investigations and follow-on class actions relating to the bank’s role in the LIBOR manipulation scandal. In pharmaceuticals, Joseph Simons and Aidan Synnott are representing Pfizer in the settlement of a class action alleging monopolistic practices concerning its anti-seizure drug Neurontin. In sports, Simons and Daniel Toal are defending Major League Baseball (MLB) in allegations, brought by a class of purchasers of television packages, that MLB is violating Sections 1 and 2 of the Sherman Act by conspiring to prohibit teams from broadcasting their individual games nationwide. Kenneth Gallo and Jacqueline Rubin are other names to note. Beth Wilkinson left in January 2016 to found a boutique trial firm.

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United States: Dispute resolution

Financial services: litigation

Within: Leading lawyers

Brad Karp - Paul, Weiss, Rifkind, Wharton & Garrison LLP

Within: Financial services: litigation

Led by the ‘experienced and accomplishedBrad Karp out of New York, Paul, Weiss, Rifkind, Wharton & Garrison LLP has a long and distinguished track record representing domestic and international financial institutions in their bet-the-company investigations and enforcement proceedings, as well as in parallel civil litigation. Karp has been a pivotal member of the team, also including Susanna Buergel, that has achieved a number of favorable results for Citigroup in litigation and regulatory investigations relating to matters stemming from the credit crisis; including successfully resolving a non-criminal investigation concerning alleged misrepresentation and omissions in RMBS offering materials, and securing a relatively less onerous fine than other defendants, as a result of its decision to reach an early settlement with the Federal Housing Finance Agency (FHFA) regarding its offer and sale of RMBS to Fannie Mae and Freddie Mac. Formerly deputy director of the SEC’s division of enforcement, Walter Ricciardi has deep insight into agency behaviour and was a key member of the team that successfully resolved, on behalf of Deutsche Bank, various regulatory investigations into its role in LIBOR manipulation. Richard Rosen, Daniel Kramer, Bruce Birenboim and Charles Davidow are also recommended.

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General commercial disputes

Within: Leading lawyers

Brad Karp - Paul, Weiss, Rifkind, Wharton & Garrison LLP

Within: General commercial disputes

Paul, Weiss, Rifkind, Wharton & Garrison LLP was engaged in high-stakes litigation throughout 2015, often handling cases with a commercial litigation component and parallel regulatory investigations. For key client Citigroup, teams led by Brad Karp have recently handled international arbitration proceedings brought by a sovereign wealth fund concerning a $7.5bn investment, closely watched litigation concerning an SEC settlement, which concerned the scope of judicial review of regulatory settlements, as well as a host of litigation connected with RMBS sales. Karp and a team that included Theodore Wells and Bruce Birenboim represented the NFL in a landmark concussion settlement with former NFL players. Media and entertainment is another area of strength, where Jay Cohen and Allan Arffa are particularly prominent. Daniel Beller and Leslie Fagen are also recommended. All partners are based in New York.

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Leading trial lawyers

Within: Leading trial lawyers

Brad Karp - Paul, Weiss, Rifkind, Wharton & Garrison LLP

Within: Leading trial lawyers

Brad Karp - Paul, Weiss, Rifkind, Wharton & Garrison LLP: Brad Karp is ‘terrific with financial cases’ and has represented Citigroup in a vast range of contentious matters across the country, including regulatory investigations and litigation involving claims of fraud, breach of contract, and negligent misrepresentation. Another key client is AXA Equitable Life Insurance, which Karp defended in a class action case brought by individuals that claimed to have suffered loss as a result of alleged misrepresentation of their financial status; Brad secured a dismissal of all claims with prejudice.

Brad Karp - Paul, Weiss, Rifkind, Wharton & Garrison LLP: Brad Karp is ‘terrific with financial cases’ and has represented Citigroup in a vast range of contentious matters across the country, including regulatory investigations and litigation involving claims of fraud, breach of contract, and negligent misrepresentation. Another key client is AXA Equitable Life Insurance, which Karp defended in a class action case brought by individuals that claimed to have suffered loss as a result of alleged misrepresentation of their financial status; Brad secured a dismissal of all claims with prejudice.

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Securities litigation - defense

Within: Leading lawyers

Brad Karp - Paul, Weiss, Rifkind, Wharton & Garrison LLP

Within: Securities litigation - defense

Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York ‘has a fantastic litigation group and is first rate for directors and officers matters’. Clients describe ‘a great firm with great lawyers and true courtroom litigators’, including firm chair Brad Karp and Richard Rosen. The highly respected Daniel Kramer achieved the dismissal of a shareholder derivative suit for home security company ADT. Karp, Kramer and deputy chair of the securities litigation and enforcement group Audra Soloway represented Bank of America in numerous SEC and shareholder actions concerning allegations that it failed to disclose billions of dollars of losses by Merrill Lynch in the months before the two banks merged. Many members of the New York team have been involved in securities matters and regulatory enforcement actions for key client Citigroup, including Susanna Buergel, who is another deputy chair of the securities litigation and enforcement group, Charles Davidow, Bruce Birenboim and Claudia Hammerman. One significant case saw the firm secure a very favorable settlement in a matter arising from the sale of CDOs. The firm also advised Deutsche Bank on highly publicized multi-jurisdictional matters concerning alleged manipulation of LIBOR. Martin Flumenbaum and Andrew Ehrlich, a rising star who won a victory for Pfizer in federal court, are also recommended.

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White-collar criminal defense

Within: White-collar criminal defense

Considered ‘excellent in all areas’, Paul, Weiss, Rifkind, Wharton & Garrison LLP’s New York-based team is well known for representing major financial institutions in investigations, as well as defending individuals in litigation. Chair of the firm Brad Karp and Michele Hirshman are among those who advise BNY Mellon on alleged mispricing of foreign exchange transactions. Together with Theodore Wells and Roberto Finzi, Karp also advised Deutsche Bank on inquiries concerning the setting of LIBOR that involve numerous regulators and jurisdictions. Karp, Wells and Lorin Reisner (‘provides great depth to the team’) advised the NFL on investigations into alleged misconduct at two football teams. Michael Gertzman is also recommended. Mark Pomerantz is now of counsel.

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United States: Industry focus

Sport

Within: Sport

Paul, Weiss, Rifkind, Wharton & Garrison LLP’s ‘excellent’ team is unrivalled for its work defending sports leagues in player safety litigation. The practice successfully represented the NFL in multi-district litigation (MDL) initiated by over 5,000 former players pertaining to alleged long-term cognitive impairments sustained during the course of their playing careers. The firm is also defending the Arizona Cardinals in the only concussion litigation proceeding outside of the MDL. The group has since been entrusted to handle further mandates for the NFL, including Brad Karp and Theodore Wells Jr being part of a team handling an internal investigation for the client into the alleged use of deflated footballs by the New England Patriots. On the transactional side, Justin G Hamill handled several matters for WME IMG, including advising on a joint venture with tennis player Li Na. Bruce Birenboim and Ariel Deckelbaum are also key names in the New York-based team.

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United States: Labor and employment

ERISA litigation

Within: ERISA litigation

Paul, Weiss, Rifkind, Wharton & Garrison LLP’s ERISA disputes experience includes representing high-profile financial institutions in stock drop cases and fiduciary duty litigation. Lewis Clayton and Robert Fleder acted for Asahi Tec Corporation in a dispute with the PBGC concerning alleged unfunded pension liabilities relating to a bankrupt former US subsidiary. Clayton also defeated a fiduciary claim against Citigroup alongside firm chair Brad Karp. In the healthcare space, Fleder is defending Dave & Buster’s in a novel claim regarding ERISA’s anti-discrimination provision and alleged circumvention of the Patient Protection and Affordable Care Act (PPACA)’s employer mandate. Other clients include JPMorgan Chase and Morgan Stanley. Clayton and Karp jointly lead the practice, which is based in New York.

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Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Bulgaria: Opening the gas market for foreign traders!

    Most recently, the Bulgarian Energy Regulator has taken significant steps towards the full liberalisation of the natural gas market: In December 2016, the Bulgarian Energy Regulator adopted legislative amendments to the Rules for Trading of Natural Gas ( Правила за търговия с природен газ , " Trading Rules ") and the Rules for Access to the Gas Transmission and/or Gas Distribution Networks and the Natural Gas Storage Facilities ( Правила за предоставяне на достъп до газопреносните и/или газоразпределителните мрежи и за достъп до съоръженията за съхранение на природен газ , " Access Rules "). Moreover, it adopted new Rules for Balancing of the Natural Gas Market ( Правила за балансиране на пазара за природен газ , " Balancing Rules "). read more...
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    The Bangko Sentral ng Pilipinas (BSP) (the Philippine Central Bank) has issued two new circulars that will be of interest to companies engaged in remittance services, e-money, digital currency, and other fintech businesses. Both circulars amend portions of the BSP Manual of Regulations for Non-Bank Financial Institutions.
  • IFLR: “Philippines: Foreign equity ownership decision”

    The March issue of the International Financial Law Review ( IFLR ) includes an international briefing article by SyCipLaw partner  Jose Florante M. Pamfilo  entitled “Philippines: Foreign equity ownership decision”. The article discusses the Philippine Supreme Court decision on the case of Roy v. Herbosa (GR no. 207246) to invalidate the Securities and Exchange Commission (SEC) Memorandum Circular no. 8-2013 (MC 8-2013) on the guidelines on compliance with the Filipino-foreign ownership requirements prescribed in the Philippine Constitution and/or existing laws by corporations engaged in nationalized and partly nationalized activities.
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  • Hungary: Increase of Minimum Sale Price May Affect Retail NPL Transactions?

    On 7 March 2017, the Hungarian parliament adopted a law that increases the minimum sale price of a residential property in the enforcement procedure from the current 70% of its market value to 100% (market value to be understood as the price set by the appraisal of the bailiff), provided that (i) the claim to be enforced stems from a consumer contract; (ii) the real property is the debtor's only real property; and (iii) the debtor resided in that real property for at least six months prior to the initiation of the enforcement procedure.   read more...
  • European Court of Justice rules for the first time on discrimination based on belief

    The Court of Justice confirms a policy of neutrality can justify discrimination based on belief.
  • RECENT COURT ORDER ON GOOGLE RELATED TO PROTECTING INFORMATION RIGHTS

    Korean appeals court orders Google to disclose to Korean users what personal information Google passed to U.S. government.
  • ECJ CASE C-28/26 - RECOVERABILITY OF INPUT VAT OF A HOLDING COMPANY

    Case C-28/26 - Examines the right of a holding company to deduct input VAT on services acquired in the interest of its subsidiaries where those services are offered to its subsidiaries with no consideration.