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Shearman & Sterling LLP

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

Adam Hakki

Work +1 212 848 4924
Shearman & Sterling LLP




United States: Antitrust


Within: Cartel

Shearman & Sterling LLP is experienced in US and EU antitrust law, handling cartel investigations, conspiracy and monopolization cases, matters related to predatory pricing, as well as bundling and tying cases. The firm is known for its representation of several financial institutions in global LIBOR and TIBOR related investigations. Beau Buffier and the key litigators Adam Hakki and Richard Schwed lead the practice, which recently acted for Japanese autoparts manufacturer JTEKT in follow-on class actions. Other key clients include United Airlines and Credit Suisse. Lawyers are based in New York unless stated otherwise.

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Civil litigation/class actions

Within: Civil litigation/class actions

Shearman & Sterling LLP provides ‘a high level of service’ across a broad range of industries, but it is particularly strong in financial services related cases, where it leverages the firm’s contacts in the area. Adam Hakki and Richard Schwed (‘quick on his feet, a commanding presence’) are defending Bank of America in the ISDAFIX class action, which alleges that 15 financial institutions (including Nomura Securities International, which the firm is also representing in this case) conspired to fix the benchmark for interest rate derivative transactions. James Tallon is another name to note in the team and he recently advised Barclays Bank and Barclays Bank Delaware on an appeal, filed by plaintiffs, against the settlement reached between retailers and credit and debit card issuers regarding the interchange fees and merchant discount antitrust litigation. Heather Lamberg Kafele is a key contact in Washington DC.

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United States: Dispute resolution

General commercial disputes

Within: General commercial disputes

Operating primarily from the New York office, Shearman & Sterling LLP’s broad litigation practice represents clients in high-stakes litigation and arbitration across the US. Among its recent successes was its representation of Daimler in a purported age discrimination class action; a team including Jaculin Aaron, Alan Goudiss and Daniel Lewis secured dismissal in the Eastern District of Michigan; the case is pending appeal. In the financial services space, Jeffrey Resetarits, Richard Schwed and global litigation head Adam Hakki acted for Bank of America in antitrust class actions alleging conspiracy in the foreign exchange market. Stuart Baskin is also recommended.

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International litigation

Within: International litigation

Shearman & Sterling LLP represents multinational corporations and financial institutions and excels with respect to Asia-related cases, particularly securities matters involving China. Indeed, the firm has represented parties in more than 50 disputes involving lawsuits filed by shareholders of Chinese companies listed in the US. Among the group’s many clients involved in such suits are China-Biotics, China Electric Motor, China Green Agriculture, China Integrated Energy, China Natural Gas, China XD Plastics and JinkoSolar. The firm represents many of these companies in shareholder derivative actions related to securities class actions. On a different tack, New York-based global litigation head Adam Hakki is representing Japanese bank Mizuho in a putative class action related to alleged manipulation of yen LIBOR and ‘euroyen’ TIBOR rates.

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M&A: litigation: defense

Within: M&A: litigation: defense

In Adam Hakki’s New York team at ‘formidable litigation shopShearman & Sterling LLP, Alan Goudiss won dismissal of an aiding and abetting claim against financial adviser Merrill Lynch in the Delaware Court of Chancery arising from the $1.46bn merger of Zale Corp and Signet Jewelers. Goudiss and San Francisco-based Stephen Hibbard defended Zillow in four class actions filed in Delaware and California that claimed the company aided and abetted breach of fiduciary duty by the board of Trulia in its $3.5bn merger with Zillow. A team including Goudiss and Paula Anderson advised Liberty Global on shareholder actions arising from its $23bn acquisition of Virgin Media.

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Securities litigation - defense

Within: Leading lawyers

Adam Hakki - Shearman & Sterling LLP

Within: Securities litigation - defense

High-quality firmShearman & Sterling LLP has a strong financial institution client base and New York-based head of litigation Adam Hakki is ‘a rising star in all kinds of securities litigation’. With Stephen Hibbard in San Francisco, he represented the underwriters of the $25bn Alibaba IPO, including Credit Suisse and Morgan Stanley, in a securities class action, and he played a key role in the defense of class actions for Bank of America, which faced allegations of manipulating forex benchmark rates. Joseph Frank and Brian Polovoy were involved in similar matters for Nomura Securities, which plaintiffs accused of manipulating the ISDAFIX benchmark used for interest rate swaps. Stuart Baskin is described as ‘one of the strongest lawyers in the field, very client-friendly and exceptionally strong in court’. His highlights included the defense of Mizuho Securities against allegations of manipulating the price of Treasury securities, which he worked on with Jerome Fortinsky. In RMBS matters, the firm is still acting for Countrywide Financial, Barclays and Nomura. Daniel Lewis and Jaculin Aaron are among the key lawyers for such matters.

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