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Sullivan & Cromwell LLP

125 BROAD STREET, NEW YORK 10004-2498, USA
Work +1 212 558 4000
Fax +1 212 558 3588

David Braff

Sullivan & Cromwell LLP


Managing Partner of Litigation Group from January 2004 to October 2012, now has overall responsibility for the Firm’s litigation practice. Member of the Firm’s Management Committee. Generalist litigator focused on complex commercial cases, including securities, antitrust, criminal and regulatory matters. Clients include Barclays, Goldman Sachs and other leading financial institutions.




Cleveland State University, B.A., Ohio State University Moritz College of Law, J.D.

United States: Antitrust

Civil litigation/class actions

Within: Civil litigation/class actions

Sullivan & Cromwell LLP’s lawyers are noted for their broad-ranging antitrust expertise, which spans merger matters, criminal investigations and all types of litigation. Financial services is a real sector strength, as demonstrated by the fact that a cross-office team of New York and Washington DC attorneys led by David Braff, Amanda Flug Davidoff, practice co-head Yvonne Quinn and Penny Shane is representing multiple banks, including Barclays and Goldman Sachs, in the many class actions filed against primary dealers in the US treasuries market alleging a conspiracy to manipulate prices. In Los Angeles, Robert Sacks is defending BP in an MDL alleging that several oil companies participated in a conspiracy to manipulate the price of Brent crude oil and Brent crude oil futures by providing fixed pricing information to a publisher of benchmark price assessments.

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United States: Dispute resolution

Financial services: litigation

Within: Financial services: litigation

The team at Sullivan & Cromwell LLP employs a generalist approach, ensuring it can be nimble when dealing with disputes requiring overlapping subject matter knowledge and can be retained by clients across many different forums including government investigations/enforcement actions and private litigation. The team is regularly engaged in many of the highest-profile disputes in the market including defending Barclays in global investigations relating to alleged Forex and ISDAFIX market manipulation. David Braff led this work for Barclays, which recently resulted in the settlement of both investigations. Jeffrey Scott has also secured a number of recent successes for Barclays in cases brought against the bank arising out of high-frequency traders’ actions in its dark pools, or private securities exchanges. Former government lawyer Robert Giuffra is very well regarded across a raft of major commercial disputes including high-stakes financial matters. In a closely watched case by the banking industry, he recently represented the New York Bankers Association in obtaining a federal court order striking down as unconstitutional the New York City’s Responsible Banking Act. The ‘practical and pragmatic’ white-collar partner Karen Seymour is noted for her ‘intuitive sense of when to push back and when to concede on points before the regulator’, a trait which has served her in good stead, particularly when acting for banks facing probes into alleged economic sanctions breaches. Sharon Nelles and Richard Klapper are also recognized for their expertise handling complex financial services disputes and have both been pivotal to the firm’s successful track record defending clients in RMBS cases.

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General commercial disputes

Within: General commercial disputes

Sullivan & Cromwell LLP acts for blue chip companies and leading financial institutions, and was retained by a number of new clients in 2015 in the automotive, energy and financial services sectors. Barclays remains a major client for David Braff; recent cases include a LIBOR-related individual action alleging false advertising and federal antitrust violations; in January 2015, the court granted Barclays’ motion for summary judgment and dismissed the case. Key litigator Robert Giuffra’s recent caseload includes the successful representation of Cablevision and its board of directors in a shareholder derivative suit filed in the Delaware Court of Chancery. Other recent successes for the department include its work for BP in securities fraud and derivative class actions stemming from the Deepwater Horizon oil spill, where Richard Pepperman II and Daryl Libow had key roles. Sharon Nelles’ practice takes in civil and regulatory investigations and litigation; her clients include Moody’s, Standard Chartered and JPMorgan Chase.

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Securities litigation - defense

Within: Securities litigation - defense

Sullivan & Cromwell LLPhas decades of experience in the securities business and a blue-chip client base to its litigation practice’. The practice is overseen by New York-based David Braff, who focuses on banking and securities matters. The team has taken a lead role in the new wave of high-frequency trading litigation, and Jeffrey Scott secured the dismissal of a dark pool-related MDL against Barclays. Braff also advised Barclays on multiple investigations into alleged manipulation of the forex and ISDAFIX financial benchmarks. Robert Giuffra’s highlights included securing the dismissal of a shareholder derivative suit for Cablevision. Richard Klapper reached a favorable settlement for Goldman Sachs in RMBS litigation brought by the Federal Housing Finance Agency (FHFA). Sharon Nelles represented JPMorgan in the FHFA’s RMBS litigation and was appointed by 12 financial institutions to lead their joint defense of RMBS and LIBOR claims. Richard Pepperman II and Washington DC-based Daryl Libow defended BP against claims of negligent misrepresentation arising out of the Deepwater Horizon oil spill. Robert Sacks in Los Angeles is one of California’s leading securities litigators.

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White-collar criminal defense

Within: White-collar criminal defense

Sullivan & Cromwell LLP’s numerous financial sector clients include Goldman Sachs, Wells Fargo, JPMorgan Chase and Barclays. David Braff, Alexander Willscher and the ‘excellentKaren Patton Seymour represented Barclays in a forex-related investigation headed by the DOJ that resulted in a settlement. Patton Seymour also represented Dallas Airmotive in an FCPA investigation. Highlights for Washington DC’s Daryl Libow included representing BP in a series of suits relating to the Deepwater Horizon oil spill; agreements in principle were reached in July 2015 to settle all federal and state claims arising from the event. Samuel Seymour, Nicolas Bourtin and Steven Peikin are also key members of the New York-based team.

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