Cravath, Swaine & Moore LLP > NEW YORK, United States > Firm Profile

Cravath, Swaine & Moore LLP > The Legal 500 Rankings

Antitrust > Civil litigation/class actions: defense Tier 1

The antitrust practice at Cravath, Swaine & Moore LLP handles contentious matters ranging from allegations of price-fixing, monopolization, and coordination in output to industry-wide conspiracy allegations for a vast variety of sectors and clients. Led by Christine Varney, the department is sought after for its experience and success rate in high-stakes civil litigation and class action cases, regularly handling matters at the intersection of antitrust with other areas, such as securities and intellectual property. ‘Standout star’ Kevin Orsini has defended claims on behalf of household names including American Express and Time Warner, while Evan Chesler brings to bear outstanding expertise in bet-the-company cases across a large range of industries. Other names to note are Peter Barbur, whose expertise spans antitrust issues such as securities litigation and other unlawful competition claims, as well as former FTC Assistant Director Daniel Zach who joined the firm at the end of 2021. All mentioned attorneys are located in the firm’s New York office.

Dispute resolution > Financial services litigation Tier 1

Cravath, Swaine & Moore LLP fields a strong team in the contentious financial services space, representing investment banks, private equity funds and asset management firms in a variety of high-profile disputes. The team remains highly focused on antitrust litigation, where its work includes defending clients accused of anti-competitive practices and the manipulation of rates and markets. The practice is also active in the fintech space, handling high-profile litigation such as the defense of Robinhood in claims stemming from the retail broker-dealer’s actions to restrict trading in volatile securities, such as shares in Gamestop and AMC. Daniel Slifkin is a key figure to note in the team; he is a long-standing figure in the space with deep experience across antitrust and securities litigation. Michael Paskin is another name to note in the antitrust space, while Lauren Moskowitz is noted for her work in RMBS disputes as well as in lawsuits alleging fraud and breach of contract. Elsewhere, Timothy Cameron is recognized for his experience in taking securities disputes to trial. All named lawyers are based in New York.

Dispute resolution > General commercial disputes Tier 1

The ‘uniformly excellent‘ trial lawyers of Cravath, Swaine & Moore LLP have a strong track record of representing defendants and plaintiffs in a wide array of commercial disputes. The practice covers alleged breaches of contract and business torts, such as fraud, breach of fiduciary duty, tortious interference with contract, tortious interference with prospective business relations, employee 'raiding' claims and unfair competition claims. The offering also includes support in claims under various antitrust, securities or intellectual property laws, RICO and FCPA. Evan Chesler has experience in jury trials and mass tort litigation. David Marriott is considered to be ‘one of the most versatile in-court lawyers,‘ and Kevin Orsini acts as trusted advisor to companies such as Robinhood Markets, The Williams Companies, and PG&E Corporation. Omid Nasab is noted for acting in breach of contract, business torts, bankruptcy, environmental and securities matters. Lauren Moskowitz and Vanessa Lavely  are other key contacts for several high-profile clients. The team is based in New York.

Dispute resolution > Leading trial lawyers Tier 1

Evan Chesler – Cravath, Swaine & Moore LLP. Considered to be one of the best litigators in the US, Evan Chesler continues to be involved in jury trials in both trial and appellate courts, as well as in federal and state courts and before arbitration panels. A current standout mandate is representing Starz Entertainment in a copyright infringement and breach of contract action which is scheduled to be tried next year. Chesler also continues to represent Elon Musk and Tesla board members in an action related to the board’s approval of a performance-based compensation plan for Mr. Musk, scheduled to be tried in April 2022. Chesler is based in the New York office.Daniel Slifkin – Cravath, Swaine & Moore LLP. New-York based Daniel Slifkin‘s trial practice, of which securities disputes are an important component, continues to thrive. Slifkin is one of few litigators to have taken a securities fraud class action through to a jury verdict. A standout recent highlight is acting as first chair in a case relating to securities offerings conducted in connection with Occidental’s $57 billion acquisition of Anadarko Petroleum, the largest oil and gas merger in over 20 years, and he won a motion to dismiss a plaintiff’s claim of violations of federal security law in March 2021. Other key clients include Westpac Banking and Alcoa.David Marriott – Cravath, Swaine & Moore LLP. David Marriott has gained litigation and arbitration experience over several years in intellectual property and employment issues as well as in antitrust and securities matters. Marriott continues to work at the forefront of these issues, including acting for Viatris in a consolidated putative securities class action in 2021 in relation to its EpiPen product. In an upcoming jury trial, he is representing Alcon Laboratories in more than 50 class actions. Marriott is based in New York.Robert Baron - Cravath, Swaine & Moore LLP

Dispute resolution > M&A litigation: defense Tier 1

‘The sheer brilliance of the team can never be overstated‘, according to clients of Cravath, Swaine & Moore LLP, with the firm offering extensive experience handling high-stakes, complex and non-traditional transaction-related litigation, often involving novel issues of law and requiring strategic coordination of multiple suits. The litigators work closely with the transactional corporate practice in the early stages of a proposed deal, as well as handling trials in Delaware and other fora across the US. The ‘simply stellar‘ Gary Bornstein, Robert Baron and and Kevin Orsini are the lead partners and clients note that ‘they come without ego, preconception or agenda‘. Rory Leraris also plays a central role in the practice. Along with Bornstein, he is currently representing Buckeye Partners in a putative class action arising from its $10.3bn merger with IFM Global Infrastructure Fund, in which plaintiffs allege that the company’s board authorized the filing of a materially incomplete and misleading preliminary proxy statement recommending Buckeye unitholders vote in favor of the proposed merger. All lawyers mentioned are in New York.

Dispute resolution > Securities litigation: defense Tier 1

Cravath, Swaine & Moore LLP in New York has a ‘strong, reliable, experienced team with 'a very deep knowledge base that is combined with good business judgment‘, frequently handling the largest and most complex actions under federal securities laws. It has achieved numerous landmark decisions in high-profile cases for clients in industries as diverse as financial services, technology, media and entertainment, pharmaceuticals, manufacturing and real estate. It continued this tradition by winning the dismissal for Occidental Petroleum Corporation of putative securities class action litigation relating to securities offerings connected with its $57bn acquisition of Anadarko Petroleum, a case led by head of litigation Daniel Slifkin . Antony Ryan and Kevin Orsini are advising Robinhood Markets on dozens of lawsuits, centralized in Florida federal court, arising from its decision to halt trading of certain stocks, among them GameStop. Karin DeMasi , who is ‘impressive in the courtroom and has a strong presence before the judge' and the ‘super-responsive and thorough' Rachel Skaistis are standout practitioners. Lauren Moskowitz and Lauren Rosenberg are emerging talents. Richard Clary  retired from the firm in 2021.

Finance > Capital markets: debt offerings

Cravath, Swaine & Moore LLP has maintained its illustrious reputation in the DCM space, advising on a range of registered and Rule 144A/Regulation S debt offerings for prestigious issuers and underwriters. This includes a variety of investment grade, high-yield, convertible and exchangeable debt securities. The core team has worked on a series of headline and high-value debt offerings, including representing the underwriters in the $13bn registered floating rate notes and fixed to floating rate notes offerings by JPMorgan, the largest ever bond sale by any bank. Craig Arcella and Andrew Pitts are leaders in the field, including in investment grade and high-yield debt transactions. William Fogg and Stephen Burns are also senior finance practitioners with an extensive record in the capital markets field, segment Scott Bennett is now an established senior name, and Nicholas Dorsey is amongst the next generation of top practitioners. Johnny Skumpija left the firm in March 2021.

Finance > Capital markets: global offerings

Cravath, Swaine & Moore LLP has a hugely impressive client base of international issuers, despite it having just two offices, in New York and London; the firm has a large team of US lawyers in the UK capital. Along with an extensive list of corporate issuer clients, it has also landed engagements from a number of sovereign and supranational entities. Amongst a number of headline deals, it advised AerCap Ireland Capital Designated Activity Company and AerCap Global Aviation Trust in their $21bn registered fixed and floating rate senior notes offering and their $1bn registered senior notes offering. Craig Arcella is co-head of the finance practice and has an outstanding record in investment grade, high‑yield and convertible bond offerings, along with IPOs for international issuers. David Mercado  is another experienced figure in global offerings, especially for European and Latin American issuers; he previously completed a long stint in London. Andrew Pitts, Nicholas Dorsey and Scott Bennett are also key names.

Finance > Commercial lending

Cravath, Swaine & Moore LLP‘s lender-side practice is strong in the New York market, advising major banks as lead arrangers and administrative agents in a variety of complex, high value leveraged transactions. Tatiana Lapushchik  is a prolific dealmaker, and assists lending banks with transactions relating to sectors including energy, technology and retail. In addition to its representation of banks, the group also has a strong borrower-side practice, which frequently handles multicurrency mandates; managing partner George Zobitz ‘s representation of Viatris Inc. in its $4bn revolving credit facility and ¥40bn term loan facility was a undoubted highlight in 2021. Michael Goldman heads up the practice and has vast experience in all types of debt financing transactions, as does practice lead Stephen Kessing , who works with a range of corporate borrowers in addition to banks. Matthew Kelly was promoted to partner in January 2021.

Environment > Environment: transactional Tier 1

Based in New York, Cravath, Swaine & Moore LLP has a well-established reputation among the top teams in the United States offering environmental law advice in the context of transactional matters, and continues to be involved in standout deals in the market. The group attracts instructions from corporate clients in an array of high-value business transactions, ranging from M&A to financings, divestitures and shareholder engagement matters, where the team provides assistance with environmental liabilities, regulatory issues, post-closing obligations and environmental-related contractual disputes. Mandates involving environmental, social and governance (ESG) issues, sustainability and climate change concerns also feature on the firm’s impressive portfolio. Matthew Morreale spearheads the environmental department; he has a wealth of experience in handling environmental issues arising in M&A, securities offerings and financing deals across the energy, heavy manufacturing, telecoms, retail and chemical industries, among others. Senior attorney Annmarie Terraciano , whose areas of activity include sustainability reporting, ESG issues, indemnification disputes and corporate transactions, is another key point of contact.

Labor and employment > Employee benefits, executive compensation and retirement plans: transactional Tier 1

The ‘knowledgeable and dependable’ practice at Cravath, Swaine & Moore LLP acts for its stellar roster of clients, including Disney, Amazon and Thermo Fisher Scientific, among others, in high-end M&A, as well as IPOs. Praised as ‘always on the ball’, the team has demonstrable experience assisting clients in the technology, energy, entertainment, retail and pharmaceutical sectors. Led by Eric Hilfers, the team is well-placed to handle interrelated securities, public disclosure, corporate governance and tax-related issues. Jonathan Katz is a key member of the group and advised Robinhood in its $1.9bn IPO. Jennifer Conway left the firm in January 2022, while Matthew Bobby was promoted to partner in January 2021 and advises on incentive compensation arrangements, as well as executive employment and separation agreements. All mentioned attorneys are based in New York.

M&A/corporate and commercial > M&A: large deals ($1bn+) Tier 1

Elite New York firm Cravath, Swaine & Moore LLP delivers first-rate expertise in M&A, divestitures, joint ventures, PIPE deals, SPAC transactions, spin-offs and strategic investments. Presiding partner Faiza Saeed is an expert in corporate governance, crisis management and takeover defense – she handles a wealth of major transactions, and is particularly formidable within the technology, biotech and media sectors. Robert Townsend III has a track record in the telecoms and broadcasting industries, and Mark Greene‘s core strengths encompass M&A, securities matters, cross-border deals, proxy fights and private equity transactions. Richard Hall fronts the EMEA transactional offering, while George Schoen is a go-to for hostile and contested transactions. At the more junior end of the partnership spectrum, Ting Chen, Aaron Gruber and Keith Hallam serve as eminent examples of the team’s bench strength, having already amassed track records in overseeing significant, multibillion-dollar transactions.

Tax > International tax Tier 1

Cravath, Swaine & Moore LLP is well-regarded for its experience constructing tax-efficient structures for cross-border M&A, spin-offs, SPACs, and private equity funds. In New York, ‘outstanding‘ practice head Lauren Angelilli focuses on tax aspects of cross-border joint ventures and SPACs, M&A, restructurings, and financing transactions. She works alongside Stephen Gordon, who covers international restructurings and joint ventures, as well as general corporate finance; Christopher Fargo, who advises on tax aspects of M&A, securities offers, and reorganizations; and Leonard Teti, who is highly regarded for his international tax work on behalf of key players in the pharma industry. International tax experts Andrew Davis and Arvind Ravichandran were both elected to partnership in November 2021 and joined the New York tax team in January 2022, while Ronald Creamer Jr. joined from Sullivan & Cromwell LLP in September 2021. Andrew Needham retired in December 2021 while Kara Mungovan departed in November 2021.

Tax > US taxes: non-contentious Tier 1

A formidable roster of blue-chip entities turn to Cravath, Swaine & Moore LLP for its capabilities in domestic and multinational tax structuring, spanning mergers, spin-offs, joint ventures, SPACs and private equity fund formations at the highest echelons of the market. The practice is led by the ‘brilliant’ Lauren Angelilli , whose recent highlights include multi-billion dollar acquisitions in the healthcare and life sciences arenas. Stephen Gordon is noted for his expertise in corporate finance and joint ventures, while Leonard Teti’s broad skillset encompasses both transactions and IRS audits. Ronald Creamer Jr., who joined from Sullivan & Cromwell LLP in September 2021, is recognized especially for his cross-border acumen. Newly promoted partners Andrew Davis and Arvind Ravichandran are noted for their strengths in M&A tax and private equity investments, respectively. Kara Mungovan  has left the practice, while Andrew Needham and Michael Schler have retired. All named lawyers are based in New York.

Antitrust > Merger control Tier 2

Cravath, Swaine & Moore LLP remains highly active in merger clearances, working in close collaboration with the firm’s dominant M&A practice on HSR filings, FTC and DOJ investigations, including Second Requests, and contentious merger review proceedings. The ‘results-oriented‘ team has seen success in several of its major ongoing transactions, including representing Mylan in its completed merger with Upjohn to form Viatris, and Illumina in its $8bn acquisition of GRAIL, and is also acting on major new transactions including Afterpay’s purchase by Square, and AerCap’s acquisition of GE Capital Aviation Services from General Electric. This reflects the firm’s broad blue-chip client base and capabilities in a range of highly scrutinised market sectors, including pharma, tech, and utilities. Practice head Christine Varney is former Assistant Attorney General at the DOJ Antitrust Division, offering vast expertise in review processes for high-stakes, multijurisdictional mergers, alongside a strong record in merger litigation. Maggie Segall continues to establish herself at the top table, playing a key role in the ongoing AerCap and Afterpay mandates, and is increasingly sought-after by major clients for complex and heavily scrutinised deals. All lawyers are in New York.

Finance > Capital markets: equity offerings

Cravath, Swaine & Moore LLP‘s multi-talented capital markets team typically lands a sizeable market share of headline and high-value IPOs and other equity offerings. Despite the team’s relatively small size compared to major competitors, it has an outstanding record in both issuer and underwriter engagements; it advised Robinhood Markets on its $1.9bn IPO. The group operates across multiple sectors and has also landed a number of SPAC IPO mandates. William Fogg and Andrew Pitts are especially prolific advisers on equity offerings, along with Scott Bennett and Nicholas Dorsey . Johnny Skumpija  has joined Sidley Austin LLP.

Finance > Capital markets: high-yield debt offerings

Cravath, Swaine & Moore LLP is highly rated for complex and high-value deals; it does not have the volume of transactions that some of its competitors have. Many of its high-yield debt engagements relate to major acquisition and spin-off transactions. It has an outstanding client list of issuers and bulge-bracket underwriters, with a weighting towards underwriter mandates. Andrew Pitts, William Fogg and Craig Arcella are amongst the leading names in the market, along with Joseph Zavaglia, who has advised on a series of headline deals, including advising initial purchasers and the dealer managers in a series of offerings by CHS/Community Health Systems. Matthew Jones was promoted to partner in January 2021 and Johnny Skumpija joined Sidley Austin LLP in March 2021.

M&A/corporate and commercial > Shareholder activism Tier 2

At Cravath, Swaine & Moore LLP, ESG matters have emerged as an increasingly important area of work for the multidisciplinary group, which works with all major activists and represents clients in the chemical, utilities, and logistics sectors. Robert Townsend III leads the M&A team for North America with corporate department head Mark Greene. They are supported by Keith Hallam, whose practice focuses on M&A and activist defense work. All named practitioners are based in New York.

Media, technology and telecoms > Fintech Tier 2

Cravath, Swaine & Moore LLP‘s combination of transactional and regulatory expertise has made it a compelling choice for some of the country’s largest banking and fintech operators. Corporate partner Scott Bennett has an extremely strong track record representing issuers and underwriters in related public and private securities offerings. The firm’s representation of the online trading platform Robinhood Markets in 2021 is demonstrative of its cross-practice approach to supporting clients. This included the company’s $1.9bn Nasdaq IPO, a $3.4bn private placement of convertible notes and warrants, and the successful dismissal of several lawsuits, led by litigation partner Kevin Orsini, concerning Robinhood’s decision to temporarily restrict trading during the volatile GamesStop short squeeze. The regulatory side of the practice was also boosted following the recruitment of financial services partner David Portilla from Debevoise & Plimpton LLP. Practice head and IP partner David Kappos is a key asset, working closely with corporate and regulatory partners on related blockchain and fintech issues.

Media, technology and telecoms > Media and entertainment: litigation Tier 2

‘A force in court‘, New York-based Cravath, Swaine & Moore LLP specialises in antitrust cases and pre-trial investigations with particular expertise pertaining to the gaming industry and digital distribution, especially pertaining to interactive home entertainment. J Wesley Earnhardt is a specialist in complementary areas such as contracts, business torts, and financial restructuring. Head of the litigation department Kevin Orsini advises the media and entertainment industry in matters of antitrust, securities, and other commercial law. Additionally recommended is Lauren Moskowitz who also represents clients in increasingly IP-related cases.

Media, technology and telecoms > Technology transactions Tier 2

M&A and capital markets are natural sweet spots for Cravath, Swaine & Moore LLP, but the firm’s technology transactions expertise goes well beyond pure corporate finance. The group’s transactional credentials cover a broad range sectors and emerging technologies including fintech, blockchain, artificial intelligence, open source software and robotics. This includes advice on technology licensing and development agreements and the strategic management of technology assets and related commercialization programs. Much of this is underpinned by partner David Kappos, the firm’s leading IP lawyer who regularly assists corporate and banking clients on IP heavy transactions, such as Amazon’s $8.45 billion acquisition of MGM. Additional support from lawyers in key areas such as antitrust adds further weight to the offering. Corporate partner George Schoen has an extremely strong reputation for M&A and joint ventures across all corners of the technology market. Corporate partner Keith Hallam is also recommended.

Media, technology and telecoms > Telecoms and broadcast: transactions Tier 2

With a team covering transactions pertaining to wireless, semiconductors, and cable both on the surface as well as submarine, Cravath, Swaine & Moore LLP covers the whole of the traditional telecoms and broadcast industry, both in the US and cross-border transactions. Robert Townsend III leads the practice from New York, focusing his expertise on M&A and corporate governance. He is representing Hawaiian Telecom Holdco Inc. in the $50m acquisition of inter-island submarine and middle-mile terrestrial fiber infrastructure assets owned by the bankruptcy estate of Paniolo Cable Company, LLC. A highly active part of Townsend’s team and involved in the firm’s recent most outstanding matters is Andrew Elken , another specialist in M&A and corporate governance as well as general corporate matters.

Dispute resolution > Corporate investigations and white-collar criminal defense Tier 3

Cravath, Swaine & Moore LLP handles a range of international enforcement and white-collar crime matters for companies, boards of directors and senior executives. The firm is well versed in crisis management and often handles multi-agency investigations brought by the DOJ and SEC, and foreign criminal and regulatory authorities. The team is led in New York by Rachel Skaistis, John Buretta, Benjamin Gruenstein, David Stuart and Evan Norris. Buretta is a DOJ alumnus who is recommended for internal investigations, criminal defense matters, regulatory compliance and civil litigation, while Skaistis is a name to note for financial crime, and FCPA and False Claims Act (FCA) matters.

Media, technology and telecoms > Media and entertainment: transactional Tier 3

With a strong focus on M&A, Cravath, Swaine & Moore LLP advises key players in media and entertainment such as Disney and Hasbro on the corporate aspects of transactions including banking, financial restructuring, capital market offerings, and tax. Faiza Saeed leads the practice out of New York, focusing her expertise on M&A, corporate governance, and crisis management and leads the team in their representation of Quibi.  

Dispute resolution > Appellate: courts of appeals / Appellate: supreme courts (states and federal) Tier 4

Cravath, Swaine & Moore LLP frequently handles appellate work for matters in which it was involved in the trial court litigation, but it also takes on appeals handled by other firms at trial stage. The New York-based team, which acts for both appellants and appellees, is best known for its representation of clients in intermediate appeals in federal and state courts nationwide. In a significant recent highlight, Gary Bornstein and Yonatan Even won a major Ninth Circuit decision for Qualcomm Incorporated, vacating a district court ruling that had certified a historically large class action.

Intellectual property > Patents: litigation (full coverage) Tier 4

Cravath, Swaine & Moore LLP fields a group of ‘superb trial lawyers with a long track record in dealing with complex patent litigation’, who are particularly well-versed in the life sciences, ‘including biologics and technology’, medical devices and telecommunications sectors. New York-based practitioners Keith Hummel, who has a ‘particular expertise in handling complex, often multi-jurisdictional patent disputes’, and Sharonmoyee Goswami are the key contacts of the practice, which brings to bear its extensive transactional expertise, and is also a solid choice for commercial litigation frequently arising from IP matters, such as antitrust and breach of license claims. Richard Stark  retired in December 2021.

Finance > Financial services regulation Tier 6

Cravath, Swaine & Moore LLP substantially bolstered its expertise in non-contentious financial services regulation in February 2021 with the addition of David Portilla from Debevoise & Plimpton LLP. Portilla, a highly-regarded specialist in this area, acts for a number of trade associations in engaging with regulators and also assists banks on compliance with Dodd-Frank regulations. Portilla also works alongside the firm’s corporate practice to handle M&A transactions involving financial services companies. The firm is based in New York.