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Shearman & Sterling LLP

Work +1 212 848 4000
Fax +1 212 848 7179

Richard Schwed

Work +1 212 848 5445
Shearman & Sterling LLP




United States: Antitrust


Within: Cartel

Shearman & Sterling LLP has strong capabilities in federal grand jury and European investigations, and has expertise in the full range of the most serious anti-competitive practices, including price-fixing, bid-rigging and group boycotts. In New York, Adam Hakki, Richard Schwed and of counsel Wayne Dale Collins are names to note, as is San Francisco-based John Cove. The firm’s notable client roster includes names such as Barclays and JTEKT. Beau Buffier left the firm to lead the Antitrust Bureau at the office of the New York State Attorney General. Heather Kafele moved to Winston & Strawn LLP in March 2017.

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Civil litigation/class actions

Within: Civil litigation/class actions

Shearman & Sterling LLP has a particularly strong reputation in financial services antitrust litigation and has been at the forefront of class actions arising from a multitude of global investigations into the industry. Current work includes representing BNP Paribas and Mizuho Securities USA as defendants in class actions brought against more than 20 primary dealers, in which it is alleged that they conspired to manipulate the market for US Treasury securities and related financial products. In another matter, global litigation head Adam Hakki, Richard Schwed and Jeffrey Resetarits (all based in New York) are acting for Bank of America in putative class actions involving price-fixing of SSA bonds. Other clients include Barclays, Citigroup and Nomura. John Cove, who joined the firm’s San Francisco office in 2016 from Boies Schiller Flexner LLP, has previous experience as a trial attorney at the DOJ. Former co-head of the global antitrust practice Beau Buffier left to become chief of the New York State Attorney General’s Antitrust Bureau. Stephen Hibbard moved to Jones Day.

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United States: Dispute resolution

General commercial disputes

Within: General commercial disputes

The ‘forward-thinking’ and ‘proactive’ litigation department at Shearman & Sterling LLP acts for domestic and international companies in litigation and arbitration, and is well versed in cases with a cross-border element. Financial products disputes are a sweet spot, though the team’s recent caseload spans multiple industries and fields of law. 2016 saw a number of victories; among them Stuart Baskin and Brian Polovoy securing a win for Volaris in a RICO action brought by Mexican nationals in the Southern District of Georgia. Daniel Laguardia is ‘outstanding in every respect’. Adam Hakki and Richard Schwed co-head the department from New York, where the majority of the team is based.

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International litigation

Within: International litigation

Shearman & Sterling LLP’s ‘forward-thinking’ team advises international and multinational corporations and financial institutions on high-profile and sensitive disputes, including complex litigation, investigations and enforcement matters. The team also has a leading China securities litigation practice. The team achieved an appellate victory for Daimler and CEO Dieter Zetsche in a retirement benefit and age discrimination dispute. It is also advising Citigroup on an internal investigation and on US regulatory and enforcement matters regarding a $400m fraud against Citigroup’s Mexican unit, Banamex. It is also representing multiple financial institutions in Libor and other rate-setting disputes. In New York, global head of litigation Adam Hakki and deputy head of the litigation department Richard Schwed are recommended and Paula Anderson is ‘adept at international disputes’. John Cove joined the team in San Francisco from Boies Schiller Flexner LLP.

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