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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

Civil litigation/class actions: defense

Within: Civil litigation/class actions: defense

In 2017, Shearman & Sterling LLP hired David Higbee, Djordje Petkoski, Ryan Shores and Todd Stenerson; all moved to its Washington DC office from Hunton Andrews Kurth LLP. Bruce Hoffman, who also made the same move, subsequently became acting director of the FTC’s Bureau of Competition. The firm’s recent work includes financial benchmarking litigation, and New York-based partners Richard Schwed and Adam Hakki are defending Bank of America in an interest rate swaps class action. The firm is also acting for the same client and Nomura Securities in a class action in which it is alleged that they were part of a conspiracy among 15 defendant financial institutions to manipulate the ISDAfix benchmark rate. The firm has also handled cases involving Libor and TIBOR, Treasury securities and SSA bonds. Petkoski and New York-based Michael Mitchell defended GS Yuasa against lawsuits arising from a DOJ investigation into an alleged lithium ion batteries price-fixing conspiracy. Higbee is the firm’s global antitrust head. John Cove in San Francisco is recommended.

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United States: Dispute resolution

Financial services litigation

Within: Financial services litigation

Under the leadership of the ‘excellentAdam Hakki, Shearman & Sterling LLP has been involved in many high-profile regulatory investigations/enforcement actions and private litigation over recent years. Noted by one client as the ‘pre-eminent class action litigator in the market’, Hakki has been involved in a slew of antitrust-related matters for core client Bank of America, including as a defendant in interest rate swaps class action related to its alleged conspiracy with other banks to prevent the establishment of exchange-like trading platforms, and its role as an alleged co-conspirator in the manipulation of the forex market. Richard Schwed is also recommended and had a key role in the aforementioned matters.

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General commercial disputes

Within: General commercial disputes

Shearman & Sterling LLP excels in complex financial products litigation, though its client base extends beyond the financial services sector to include US and non-US companies in the healthcare, technology and automobile industries, among others. It also has experience representing high-ranking individuals. In a recent example, Adam Hakki and Jaculin Aaron represented former CEO and director of Providence Service Corporation Warren Rustand in shareholder derivative litigation. Deputy litigation head Richard Schwed has broad experience in state and federal courts and arbitration. Above-named partners are located in New York, which is the firm’s main base. In Washington DC, the firm hired several commercial and antitrust litigation specialists including Ryan Shores from Hunton Andrews Kurth LLP. Daniel Laguardia is a key contact in San Francisco.

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International litigation

Within: International litigation

Shearman & Sterling LLP is ‘a truly international firm that is more globally integrated than some of its competitors’ and has ‘a reputation that extends far beyond the US’. The firm advises multinational corporations and financial institutions on high-profile matters including global investigations, Foreign Corrupt Practices Act (FCPA) matters and US-based litigation involving non-US entities. In New York, global head of litigation Adam Hakki, who advised underwriters of the Alibaba IPO on a securities class action, and deputy head of the litigation department Richard Schwed are recommended. Schwed regularly handles cross-border matters relating to contested mergers and acquisitions, antitrust cases and financial services litigation. With Henry Weisburg and Washington DC-based Christopher Ryan, he sought enforcement of arbitral awards to secure a $50bn payment from the Russian Federation after its expropriation of investments in the former Yukos Oil Company. Paula Anderson is a rising star.

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