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Cravath, Swaine & Moore LLP

WORLDWIDE PLAZA, 825 EIGHTH AVENUE, 10019-7475, USA
Tel:
Work +1 212 474 1000
Fax:
Fax +1 212 474 3700
Email:
Web:
www.cravath.com
London, NEW YORK

United States: Antitrust

Civil litigation/class actions: defense
Civil litigation/class actions: defense - ranked: tier 2

Cravath, Swaine & Moore LLP

The advice provided by Cravath, Swaine & Moore LLP's antitrust team is 'practical and takes business realities into consideration'. David Marriott and Lauren Moskowitz are currently representing Alcon Laboratories in over 50 putative class actions alleging violations of Section 1 of the Sherman Act by the client's pricing policies for its contact lenses. Also notable are Evan Chesler, Peter Barbur, Rory Leraris and Kevin Orsini, who together secured a complete victory for American Express in the Second Circuit and US Supreme Court to end a longstanding dispute first brought by the DOJ then followed by several state attorneys alleging the client's card agreement 'non-discrimination' provisions violated the Sherman Act. Clients also recommend Lauren Roberta Kennedy and Karin DeMasi, who are 'both extremely responsive and give great legal counsel'. Katherine Forrest joined the team from her position with the government, and Vanessa Lavely was recently promoted to partner.

Next Generation Partners

Kevin Orsini - Cravath, Swaine & Moore LLP

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Merger control
Merger control - ranked: tier 2

Cravath, Swaine & Moore LLP

Christine Varney leads the merger control practice at Cravath, Swaine & Moore LLP, which recently welcomed former US district judge Katherine Forrest. The group was recently appointed by Akorn to oversee its pending sale to Fresenius Kabi, and Varney acted for Alere in its sale to Abbott Laboratories. Also notable are Margaret Segall D’Amico, who represented Jose Cuervo in the antitrust issues arising from its acquisition of the Pendleton Whiskey brand assets from Hood River Distillers, and Julie North, who handled Crown Castle's acquisition of Lightower from Berkshire Partners, Pamlico Partners and other investors. Recent-made partner Vanessa Lavely is also a key name.

Leading lawyers

Christine Varney - Cravath, Swaine & Moore LLP

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United States: Dispute resolution

Appellate
Appellate: Courts of Appeal - ranked: tier 4

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP regularly handles the appellate stage in matters in which the group is already conducting trial court litigation. In the antitrust enforcement case of Ohio v American Express Co., the team successfully defended the respondent against claims brought before the US Supreme Court; Evan Chesler presented arguments and convinced the Court to reject antitrust challenges to American Express’ anti-steering provisions contained in its merchant contracts. In a highlight at the New York State Court of Appeals, the trio of Richard Clary, Michael Reynolds and Lauren Moskowitz secured a victory for Credit Suisse Securities USA by achieving the dismissal of claims brought pursuant to the Martin Act, a New York anti-fraud law. Antony Ryan and Gary Bornstein are also key figures. In September 2018, former judge Katherine Forrest re-joined the firm.

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Corporate investigations and white-collar criminal defense
Corporate investigations and white-collar criminal defense - ranked: tier 3

Cravath, Swaine & Moore LLP

The 'extremely service-minded' team at Cravath, Swaine & Moore LLP has 'great expertise in relation to FCPA investigations, particularly related to the SEC'. David Stuart (who is 'always calm in stressful situations') and Daniel Slifkin are representing Insys Therapeutics in an SEC investigation into the company's financial restatement and disclosures, sales and marketing practices and compliance program. In another key matter, David Greenwald is representing two Swiss banks in connection with DOJ and IRS investigations into their provision of banking services to US taxpayers. 'Always firm and to the point', Rachel Skaistis is recommended alongside Benjamin Gruenstein and 'first-tier lawyer' John Buretta, who commands 'great respect from prosecutors'.

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Financial services litigation
Financial services litigation - ranked: tier 1

Cravath, Swaine & Moore LLP

Praised for its ability to 'muster impressively cohesive intellectual firepower', New York-headquartered Cravath, Swaine & Moore LLP provides a seamless service to a wide range of financial services clients, from the initial agency investigation and enforcement action through to the private class actions that frequently follow in their wake. The team continues to handle a significant amount of antitrust-related disputes for financial services clients, including American Express, which renowned trial lawyer Evan Chesler successfully represented before the US Supreme Court (thereby bringing an end to an eight year lawsuit brought by the DOJ and 17 state attorneys general). In another notable market manipulation-related dispute, John Buretta successfully secured the dismissal of a consolidated class action brought against Nomura International as one of the alleged participants in collusion and price fixing among numerous financial institutions of supranational, sub-sovereign and agency bonds. Appreciated by clients for his 'strong intellect and excellent bedside manner', Richard Clary is regularly at the forefront of the most significant financial services litigation handled by the firm, including his defense, along with Lauren Moskowitz and Michael Reynolds, of Credit Suisse in residential-mortgage backed securities (RMBS) litigation brought against it in the immediate aftermath of the financial crisis. Daniel Slifkin and Michael Paskin are also regularly involved in financial services-related litigation and have both been pivotal to the firm's defense of Morgan Stanley in individual and class action lawsuits alleging collusion among banks to restrain competition in the market for certain derivatives.

Leading lawyers

Richard Clary - Cravath, Swaine & Moore LLP

Next Generation Partners

Lauren Moskowitz - Cravath, Swaine & Moore LLP

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General commercial disputes
General commercial disputes - ranked: tier 1

Cravath, Swaine & Moore LLP

'Intellect and litigation strategy are key strengths’ at Cravath, Swaine & Moore LLP, which is noted for its 'solid, remarkably thorough work’. The firm had another busy year in 2018, continuing to handle high-profile and high-stakes cases. Highlights included representing Qualcomm in consolidated actions in the Southern District of California against Apple concerning Qualcomm's patent licensing and modem chipset businesses; the team included Evan Chesler, J Wesley Earnhardt and Vanessa Lavely, who was promoted to partner in 2018. Elsewhere, Benjamin Gruenstein represented Avon in a breach of contract dispute filed by ASG, Technologies, while in the New York State Court of Appeals, Richard Clary, Michael Reynolds and Lauren Moskowitz secured the dismissal of a Martin Act claim against client Credit Suisse filed by the New York Attorney General. In a significant development in September 2018, former District Judge for the Southern District of New York Katherine Forrest returned to the firm. Darin McAtee is 'a first-rate trial lawyer with outstanding performance in the courtroom’ and Omid Nasab is also recommended. Key litigator David Marriott is another name to note.

Leading lawyers

David Marriott - Cravath, Swaine & Moore LLP

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Leading trial lawyers
Leading trial lawyers - ranked: tier 5

Robert Baron - Cravath, Swaine & Moore LLP

Darin McAtee - Cravath, Swaine & Moore LLP

David Marriott - Cravath, Swaine & Moore LLP

Evan Chesler - Cravath, Swaine & Moore LLP

Richard Clary - Cravath, Swaine & Moore LLP

Evan Chesler - Cravath, Swaine & Moore LLP Evan Chesler has over four decades of litigation experience in trial courts and acts across a range of industry sectors including pharmaceuticals and financial services. He recently represented Merck in patent infringement claims regarding the sale of one of its drugs. Other highlights include successfully defending long-standing client American Express in a significant antitrust enforcement action in the US Supreme Court, which marked the end of an eight-year lawsuit.

Richard Clary - Cravath, Swaine & Moore LLP Richard Clary has extensive experience in defending financial institutions in a wide variety of civil and commercial disputes ranging from securities litigation and bankruptcy-related claims. He is representing Credit Suisse in a number of different matters, including one case that was successfully appealed in the US District Court bought by Lehman Brothers Special Financing. Other clients include IBM and JPMorgan Chase.

Leading lawyers

Evan Chesler - Cravath, Swaine & Moore LLP

Richard Clary - Cravath, Swaine & Moore LLP

Robert Baron - Cravath, Swaine & Moore LLP

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M&A litigation: defense
M&A litigation: defense - ranked: tier 1

Cravath, Swaine & Moore LLP

Last year, Cravath, Swaine & Moore LLP in New York handled putative class action, derivative and other litigation for contemplated, completed or terminated deals with a cumulative value of more than $490bn. Yonatan Even helped Anheuser-Busch InBev SA/NV secure the dismissal of a challenge to its $123bn acquisition of SABMiller PLC. Gary Bornstein is 'one of best lawyers in this space; he is a terrific lawyer with no pomp and no circumstance'. His work included winning the dismissal of a class action against Blount International that challenged its acquisition by American Securities and P2 Capital Partners in 2016. Robert Baron is another of the practice's leading lights and in In re Akorn, Inc. Data Integrity Securities Litigation, he is involved in one of the market's most high-profile cases, which centres on an investigation launched by Fresenius Kabi into issues affecting the companies' pending $4.3bn merger. Antony Ryan and Kevin Orsini, who handled numerous high-profile cases for energy company Williams, including In re The Williams Companies, Inc. Merger Litigation, are also recommended.

Leading lawyers

Gary Bornstein - Cravath, Swaine & Moore LLP

Robert Baron - Cravath, Swaine & Moore LLP

Next Generation Partners

Kevin Orsini - Cravath, Swaine & Moore LLP

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Securities litigation - defense
Securities litigation - defense - ranked: tier 1

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP in New York has a deep bench of 'hardworking, thoughtful attorneys', who frequently handle complex, high-value and precedent-setting cases. With 24 partners handling securities litigation and enforcement, the team is not among the largest, but it has highly prominent lawyers such as Richard Clary, who is 'someone that other defence lawyers look up to', Antony Ryan and head of litigation Daniel Slifkin. Slifkin, Ryan and regulatory enforcement specialist David Stuart acted for ophthalmic pharmaceutical manufacturer Akorn, Inc in a purported consolidated securities class action and a consolidated derivative action in which plaintiffs sought $150m in damages for alleged misrepresentations by the company concerning its business, operations and internal controls. For the same client, Robert Baron is handling a stock-drop class action arising from an investigation into data integrity issues. Among the other standout partners are Karin DeMasi, who is handling a class action concerning technology company Greensky's IPO; Timothy Cameron; rising star Lauren Moskowitz; and Rachel Skaistis, who handled a stock-drop case for El Pollo Loco.

Leading lawyers

Antony Ryan - Cravath, Swaine & Moore LLP

Daniel Slifkin - Cravath, Swaine & Moore LLP

Richard Clary - Cravath, Swaine & Moore LLP

Next Generation Partners

Lauren Moskowitz - Cravath, Swaine & Moore LLP

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United States: Finance

Capital markets: debt
Capital markets: debt - advice to issuers - ranked: tier 1

Cravath, Swaine & Moore LLP

Capital markets: debt offerings - advice to underwriters - ranked: tier 1

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP’s practice, which is equally adept at advising issuers and underwriters, stands out in complex deals, and has a strong track record in acquisition and spin-off transactions. The firm’s expertise on the debt side is illustrated by its enviable deal volume over the past twelve months: from November 2017 until November 2018, the group handled investment grade deals worth over $117bn. Finance co-lead Craig Arcella enjoys a premier reputation for his financial institution relationships and recently advised a group of underwriters, led by Barclays, Bank of America Merrill Lynch, Citigroup, Credit Suisse, JP Morgan and Morgan Stanley, on Union Pacific’s $6bn notes offering. Also on the underwriter side, William Fogg, who co-heads the finance practice, and newly promoted partner Michael Mariani advised the underwriters, led by JP Morgan, on a $6bn notes offering by JPMorgan Chase. Additionally, Johnny Skumpija acted on several issuer-side highlights, including advising Nestlé Holdings on its $8bn notes offering. In another marquee company-side transaction, Nicholas Dorsey, who also recently made partner, acted for The Walt Disney Company on offers by its wholly-owned subsidiary TWDC Holdco 613 Corporation to exchange notes issued by 21st Century Fox for up to $18.1bn. Andrew Pitts, who heads the capital markets department, and William Whelan are also prominent names in the New York-based group.

Leading lawyers

Andrew Pitts - Cravath, Swaine & Moore LLP

Craig Arcella - Cravath, Swaine & Moore LLP

William Whelan - Cravath, Swaine & Moore LLP

Next Generation Partners

Johnny Skumpija - Cravath, Swaine & Moore LLP

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Capital markets: equity offerings
Capital markets: equity offerings - advice to issuers - ranked: tier 2

Cravath, Swaine & Moore LLP

Capital markets: equity offerings - advice to managers - ranked: tier 1

Cravath, Swaine & Moore LLP

Widely recognized as ‚Äėa¬†heavyweight underwriters‚Äô counsel‚Äô, Cravath, Swaine & Moore LLP¬†also has a robust issuer-side practice that is particularly prominent in cross-border offerings. The New York-based group is best known for its deep bench, which is especially impressive at senior level, and its close relationships with all the major investment banks. North America capital markets head Andrew Pitts, ‚Äėa simply great attorney‚Äô, enjoys a strong profile in the market and recently teamed up with financing practice co-head William Fogg¬†to advise¬†the underwriters (led by Morgan Stanley and JP Morgan) on Baker Hughes‚Äô $2.1bn secondary offering. Pitts also advised the initial purchasers on VICI Properties‚Äô $1bn private placement. Craig Arcella, who co-leads the financing group, advised¬†Morgan Stanley as the underwriter on a $1.1bn common stock offering by State Street. Among its issuer highlights, financing co-head Stephen Burns, together with Johnny Skumpija, assisted Crown Castle International with its $831m common stock offering. Other key contacts include Scott Bennett¬†(‚Äėa¬†really great lawyer‚Äô) and¬†William Whelan.

Leading lawyers

Andrew Pitts - Cravath, Swaine & Moore LLP

William Fogg - Cravath, Swaine & Moore LLP

Next Generation Partners

Scott Bennett - Cravath, Swaine & Moore LLP

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Capital markets: global offerings
Capital markets: global offerings - advice to issuers - ranked: tier 1

Cravath, Swaine & Moore LLP

Capital markets: global offerings - advice to underwriters - ranked: tier 1

Cravath, Swaine & Moore LLP

‚ÄėA global leader in capital markets‚Äô, Cravath, Swaine & Moore LLP¬†is highlighted for its ‚Äėgreat reputation with the major investment banks‚Äô, and is also considered ‚Äėa¬†fantastic issuer-side firm‚Äô. The group, which practices US law exclusively from its two offices in New York and London, routinely leads offerings across Europe, Latin America and other markets and is active in both debt and equity offerings. Andrew Pitts¬†(‚Äėa simply great attorney‚Äô) heads up the¬†North America capital markets team and his broad expertise encompasses the financial services, natural resources and transportation sectors. Among Pitts‚Äô recent deals, he advised¬†Shell International Finance on its $3bn notes offering, and also advised the underwriters on Allergan Funding‚Äôs ‚ā¨1.7bn notes offering. Craig Arcella, who co-heads the financing practice, is another seasoned expert; he recently advised the underwriters on a $2bn notes offering by the State of Israel, which were listed on the Bourse de Luxembourg. The firm has also recently undertaken work for¬†AerCap,¬†Costamare and¬†Nestl√©. Other key contacts include William Fogg, who co-heads the financing practice, and ‚Äėexcellent‚Äô up-and-coming partner Scott Bennett.

Leading lawyers

Andrew Pitts - Cravath, Swaine & Moore LLP

Craig Arcella - Cravath, Swaine & Moore LLP

Next Generation Partners

Scott Bennett - Cravath, Swaine & Moore LLP

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Capital markets: high-yield debt offerings
Capital markets: high-yield debt offerings - advice to issuers - ranked: tier 2

Cravath, Swaine & Moore LLP

Capital markets: high-yield debt offerings - advice to underwriters - ranked: tier 2

Cravath, Swaine & Moore LLP

According to sources, Cravath, Swaine & Moore LLP's New York-based group ‚Äėis among the strongest manager-side specialists in the market‚Äô, and also receives a steady stream of mandates from high-yield debt issuers. A top choice for banks to advise on major, event-driven deals, the firm regularly demonstrates that it can turn its hand to sophisticated transactions in any sector. The diverse practice has worked to increase its market share of energy deals, which has recently included financing co-head Stephen Burns¬†advising the underwriters on Chesapeake Energy‚Äôs $1.2bn high-yield debt offering. The healthcare industry also proved a significant source of mandates during 2018, where¬†Johnny Skumpija¬†acted for the initial purchasers in a $1.8bn high-yield senior notes offering by Centene Escrow I Corporation, a¬†wholly-owned subsidiary of Centene Corporation. On the issuer side, financing co-head William Fogg¬†and recently promoted partner Michael Mariani¬†advised TerraForm Power Operating, a portfolio company of Brookfield Asset Management, on its $1.2bn high-yield debt offering. Other key contacts include Joseph Zavaglia, who spearheaded the firm‚Äôs advice to the initial purchasers on Community Health Systems‚Äô $1bn senior secured notes offering, financing co-head Craig Arcella¬†and North America capital markets lead Andrew Pitts.

Next Generation Partners

Johnny Skumpija - Cravath, Swaine & Moore LLP

Joseph Zavaglia - Cravath, Swaine & Moore LLP

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Commercial lending
Commercial Lending: Advice To Borrowers - ranked: tier 3

Cravath, Swaine & Moore LLP

Commercial lending: advice to lenders - ranked: tier 1

Cravath, Swaine & Moore LLP

As one of the premier firms for lender-side work, Cravath, Swaine & Moore LLP has ironclad relationships with some of the country's largest financial institutions, which it regularly advises on investment-grade loans and complex financings and refinancings. The six-partner team also regularly sits on the borrower side of the table for its corporate clients, such as Qualcomm, which it advised on $6bn in facilities to finance its ultimately abandoned acquisition of NXP Semiconductors. The firm also acted on significant deals for Northrop Grumman and Time Warner. On the lender side it acted for JP Morgan in relation to $12bn of credit facilities provided to Dow DuPont linked to its separation into three companies and the spin-off of Corteva. Michael Goldman leads the team, which also includes corporate managing partner George Zobitz, Tatiana Lapushchik, Joseph Zavaglia, and Stephen Kessing.

Leading lawyers

George Zobitz - Cravath, Swaine & Moore LLP

Michael Goldman - Cravath, Swaine & Moore LLP

Next Generation Partners

Joseph Zavaglia - Cravath, Swaine & Moore LLP

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United States: Industry focus

Environment: transactional
Environment: transactional - ranked: tier 1

Cravath, Swaine & Moore LLP

Based in New York, the ‚Äėstellar‚Äô practice at Cravath, Swaine & Moore LLP¬†is a particularly lean one, with three dedicated practitioners handling the full range of environmental issues arising from business transactions, including acquisitions and divestitures, secured lending and acquisition financings, equity and debt offerings and initial public offerings, as well as related regulatory and litigation matters. The team's clients include Johnson & Johnson, Crown Castle International, Mylan, and IBM, and it is being retained by The Walt Disney Company in its pending $85bn acquisition of 20th Century Fox. Further, the team acted for the underwriters, led by Citigroup, JP Morgan, Barclays, Credit Suisse, HSBC, RBC Capital Markets, BofA Merrill Lynch and Deutsche Bank Securities, in the ‚ā¨450m offering of registered high-yield senior notes by The Chemours Company, listed on the Irish Stock Exchange. The ‚Äėfabulous‚Äô Matthew Morreale¬†heads the practice, and senior attorney Annmarie Terraciano¬†is also recommended.

Leading lawyers

Matthew Morreale - Cravath, Swaine & Moore LLP

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United States: Intellectual property

Patents: litigation (full coverage)
Patents: litigation (full coverage) - ranked: tier 4

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP in New York has particular strengths in the pharmaceuticals and telecoms sectors. On the pharmaceuticals side, Keith Hummel and David Greenwald defended Amgen in pioneering BPCIA litigation brought by AbbVie in 2016, alleging infringement of ten AbbVie patents by Amgen's Amjevita, a biosimilar to blockbuster drug Humira. On the telecoms side, the group represents Qualcomm in a series of suits regarding modem chips, including several cases against Apple and a case against the Federal Trade Commission concerning an alleged breach of Section 5 of the Federal Trade Act. A major technology highlight was the successful representation of Alarm.com in a Federal Circuit case following IPRs against Vivint, which had filed for patent infringement of home security technology patents. Other notable instructions came from DRI Capital, Juno Therapeutics and OrbusNeich. Richard Stark, David Kappos, David Greenwald and chairman Evan Chesler are other names to note. Vanessa Lavely made partner, and former US district judge Katherine Forrest joined the team.

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United States: Labor and employment

Employee benefits, executive compensation and retirement plans: transactional
Employee benefits, executive compensation and retirement plans: transactional - ranked: tier 1

Cravath, Swaine & Moore LLP

The ‚Äėexcellent‚Äô practice at Cravath, Swaine & Moore LLP¬†was involved in a number of upper-market M&A transactions throughout 2018, which included¬†Jennifer Conway¬†advising Time Warner on its $109bn sale to AT&T. Similarly, ‚Äėsuperb and extremely responsive‚Äô practice head Eric Hilfers¬†is providing benefits and executive compensation advise to The Walt Disney Company in connection with its $85bn acquisition of 21st Century Fox. Jonathan Katz¬†handled a number of deals, including Northrup Grunman‚Äôs $9.2bn acquisition of Orbital ATK, and Brookfield Asset Management‚Äôs $5.1bn acquisition of TerraForm Global. The ‚Äėvery hands on and knowledgeable‚Äô team also advised The Linde Group on its $70bn merger with Praxair, a transaction which resulted in the world‚Äôs largest industrial gas supplier. Other notable clients include Santander, IMB, AXA, Amazon and Johnson & Johnson. All named partners are based in New York.

Leading lawyers

Eric Hilfers - Cravath, Swaine & Moore LLP

Jennifer Conway - Cravath, Swaine & Moore LLP

Next Generation Partners

Jonathan Katz - Cravath, Swaine & Moore LLP

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United States: M&A/corporate and commercial

M&A: large deals ($1bn+)
M&A: large deals ($1bn+) - ranked: tier 1

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP has maintained a significant market share of big-ticket M&A transactions, despite the relatively small size of its M&A department and the firm's small global presence (with offices in New York and London) compared to other tier one competitors. Its much celebrated rotation system ensures that associates and partners are able to apply their big picture experience and expertise in complex transactions. The firm has a much greater emphasis on strategic corporate acquirers than financial sponsors and private equity houses, compared to many of its natural competitors. It continues to impress in cross-border transactions where it advises both US and foreign multinationals. Clients include AXA, British American Tobacco, IBM, Johnson & Johnson, Royal Dutch Shell and The Walt Disney Company. In 2018, the firm advised Time Warner on the completion of its $108.7bn sale to AT&T and advised The Walt Disney Company on its pending $85bn acquisition of Twenty-First Century Fox. Moreover, it advised The Linde Group on its immensely complex and pending $70bn merger of equals with Praxair and Barrick Gold on its pending $18.3bn merger with Randgold Resources. The firm has 'super lawyers' with the firm's presiding partner Faiza Saeed further cementing her leading position in the market with a string of headline deals, including the previously mentioned Time Warner and Walt Disney transactions. Richard Hall also continues to impress with his exemplary deal experience, as does Mark Greene and Robert Townsend. Damien Zoubek  is gaining further recognition in the market for advising the likes of Johnson & Johnson in headline transactions, while Keith Hallam, Ting Chen and Aaron Gruber are among those expected to achieve similar prominence in the future.

Leading lawyers

Faiza Saeed - Cravath, Swaine & Moore LLP

Mark Greene - Cravath, Swaine & Moore LLP

Richard Hall - Cravath, Swaine & Moore LLP

Robert Townsend - Cravath, Swaine & Moore LLP

Next Generation Partners

Aaron Gruber - Cravath, Swaine & Moore LLP

Keith Hallam - Cravath, Swaine & Moore LLP

Ting Chen - Cravath, Swaine & Moore LLP

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Shareholder activism
Shareholder activism - ranked: tier 3

Cravath, Swaine & Moore LLP

Key names at Cravath, Swaine & Moore LLP include Robert Townsend and Keith Hallam, who advised Cincinnati Bell on its successful defense of a proxy campaign brought by GAMCO over three board seats. Also recommended are George Schoen and Ting Chen, who advised Avon Products on a nomination agreement with Barington Capital.

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United States: Media, technology and telecoms

Fintech
Fintech - ranked: tier 3

Cravath, Swaine & Moore LLP

The New York-based blockchain and financial technology team at Cravath, Swaine & Moore LLP fields a multidisciplinary team leveraging corporate, M&A, capital markets, financing, tax, intellectual property and litigation expertise. The group frequently acts for IBM in connection with investments into financial technology companies and advised the client on the formation of TradeLens, a blockchain-enabled shipping solution which was jointly developed by Maersk and IBM. Other recent work ranges from acting for financial technology solutions company DH Corporation on its C$4.8bn sale to Vista Equity Partner and representing American Express (AmEx) in litigation relating to allegations that AmEx and numerous other issuers of credit and charge cards conspired to shift certain costs of fraudulent charges from the card issuers to merchants. Other clients include FactSet and JPMorgan; the group is assisting the former with the $265m acquisition of automated trading solutions developer Portware and acted for the latter in connection with the arrangement of credit facilities totaling $7.55bn made available to Automatic Data Processing. Intellectual property expert David Kappos has particular experience advising on blockchain issues. Corporate partners Scott Bennett and Michael Mariani are other key names to note.

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Media and entertainment: litigation
Media and entertainment: litigation - ranked: tier 3

Cravath, Swaine & Moore LLP

The New York-based litigation team at Cravath, Swaine & Moore LLP acts for media and entertainment sector clients such as HBO, Hearst Communications and Time Warner; it recently advised the latter on antitrust issues in connection with its $109 billion sale to AT&T in a matter led by a team including Peter Barbur. In another work highlight, the group is representing ABC and ESPN as intervenors in the high-profile NCAA grant-in-aid cap antitrust litigation, in which the broadcasters are opposing the release of confidential broadcast, media and sponsorship agreements. Karin DeMasi and Evan Chesler are acting for The Weinstein Company in a books and records demand suit brought by Harvey Weinstein; the team also represented the client in a breach of contract lawsuit at the New York Supreme Court brought by Speedee Distribution. The practice frequently handles employment and intellectual property litigation and benefits from the addition of Hon. Katherine Forrest from her role as a district judge for the Southern District of New York. J Wesley Earnhardt is another key name to note.

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Media and entertainment: transactional
Media and entertainment: transactional - ranked: tier 2

Cravath, Swaine & Moore LLP

The broadcasting, media and entertainment practice at Cravath, Swaine & Moore LLP handles a range of corporate and M&A transactions for its impressive client roster. In recent work highlights, the group acted for Time Warner in its $109bn sale to AT&T, and assisted The Walt Disney Company with its pending $85bn acquisition of Twenty-First Century Fox and in connection with 21st Century Fox’s pending $15bn sale of its 39% stake in Sky to Comcast. The firm also advised Charles M. Schulz Creative Associates on the $178m sale by DHX Media of a 49% stake in its interest in Peanuts Holdings to Sony Music Entertainment (Japan). A team led by George Schoen acted for Warner Media in connection with its investment in WndrCo. Faiza Saeed heads the practice which also includes Ting Chen. All attorneys are based in New York.

Leading lawyers

Faiza Saeed - Cravath, Swaine & Moore LLP

Next Generation Partners

Ting Chen - Cravath, Swaine & Moore LLP

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Technology transactions
Technology transactions - ranked: tier 2

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP has extensive experience advising blockchain, media, biotech and software companies on matters including joint venture and M&A-driven technology licensing deals and development contracts involving cybersecurity and artificial intelligence. Faiza J. Saeed and practice co-head David J. Kappos, who are both based in New York, are advising The Walt Disney Company in connection with its pending $85bn acquisition of 21st Century Fox, which involves agreements for a multitude of copyright-based domain names and film production technology. Kappos also advised Biogen on its expansion of its existing agreement with pharmaceuticals company Eisai to jointly develop and commercialize certain Alzheimer’s disease treatments. Other New York contacts include Keith Hallam and practice co-head George F. Schoen, the latter of whom acted for Warner Media in its investment in NewTV as a part of its $1bn initial funding round. Allison M. Wein was promoted to partner in January 2019.

Leading lawyers

George F. Schoen - Cravath, Swaine & Moore LLP

Next Generation Partners

Keith Hallam - Cravath, Swaine & Moore LLP

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Telecoms and broadcast: transactional
Telecoms and broadcast: transactional - ranked: tier 1

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP's New York-based team provides telecoms clients with high-value M&A and capital markets services, with a particular focus on transformative, large-scale acquisitions. The firm is experienced on both sides of the M&A table, acting as sell-side counsel in Time Warner's acquisition by AT&T, a market-shaping deal worth $109bn, and on the buy side on behalf of Disney regarding its pending $85bn acquisition of 21st Century Fox. Robert Townsend leads the group and specializes in complex M&A transactions, recently advising Cincinnati Bell on its $650m acquisition of Hawaiian Telecom. Faiza Saeed and George Schoen are key contacts for clients operating in the broadcasting and content delivery space; both advised on the Time Warner and Disney deals. Financing specialist Tatiana Lapushchik advised Citibank and JP Morgan in their provision of $10bn credit facilities to The Walt Disney Company. Capital markets expert William Fogg recently handled data center operator Cyrus One's $570m registered common stock offering, while Johnny Skumpija and Stephen Burns advised Crown Castle International on a $1bn debt offering and $831m stock offering.

Leading lawyers

Robert Townsend - Cravath, Swaine & Moore LLP

Next Generation Partners

Johnny Skumpija - Cravath, Swaine & Moore LLP

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United States: Tax

International tax
International tax - ranked: tier 1

Cravath, Swaine & Moore LLP

The team at New York-based Cravath, Swaine & Moore LLP¬†provides expertise in tax-efficient structures for domestic and international transactions, including mergers, spin-offs, joint ventures, private equity deals and internal restructurings. It is led by Stephen Gordon, who is¬†assisting Barrick Gold in connection with its pending $18.3bn merger with Randgold Resources. In another highlight,¬†Lauren Angelilli¬†provided tax advice to AveXis in connection with its $8.7bn acquisition by Novartis. She is also working with up-and-coming partner Kara Mungovan,¬†advising GKN plc in connection with the ¬£8.1bn unsolicited offer from Melrose Industries to acquire the company. J Leonard Teti II¬†is also advising Novartis, in connection with its pending $2.1bn acquisition of Endocyte. Andrew Needham¬†advised Brookfield Asset Management on its $1.3bn acquisition of TerraForm Global. In Latin American work, Christopher Fargo¬†advised¬†Banco Santander on the $528m sale by its wholly owned subsidiary, Banco Popular Espa√Īol, of TotalBank to Banco de Cr√©dito e Inversiones. Of counsel Michael Schler¬†is recommended.

Leading lawyers

Andrew Needham - Cravath, Swaine & Moore LLP

Lauren Angelilli - Cravath, Swaine & Moore LLP

Stephen Gordon - Cravath, Swaine & Moore LLP

Next Generation Partners

Christopher Fargo - Cravath, Swaine & Moore LLP

Kara Mungovan - Cravath, Swaine & Moore LLP

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US taxes: non-contentious
US taxes: non-contentious - ranked: tier 1

Cravath, Swaine & Moore LLP

Led by ‚Äėwell-known tax figure‚Äô Stephen Gordon, the tax department of Cravath, Swaine & Moore LLP¬†houses ‚Äėone of the strongest transactional tax groups in New York‚Äô and was particularly active and a number of standout public and private M&A, joint ventures and investments . ‚ÄėTechnically excellent and commercially astute‚Äô,¬†Gordon¬†advised Northrop Grumman Corporation on the $9.2bn acquisition of Orbital ATK, and also assisted Time Warner with its $109bn sale to AT&T. Christopher Fargo¬†served as tax counsel to Warner Media in connection with its investment in NewTV, as part of its $1bn initial funding round. He also acted for¬†Cincinnati Bell alongside Andrew Needham¬†(who has ‚Äėa wealth of knowledge and experience in a wide-variety of tax areas‚Äô)¬†in relation to its $650m combination with Hawaiian Telcom. Elsewhere, J Leonard Teti II¬†acted for Amazon.com in its $1bn acquisition of Ring, and Kara Mungovan¬†advised Altra Industrial Motion on its $3bn combination with four operating companies from Fortive‚Äôs Automation and Specialty platform. Also recommended is¬†Lauren Angelilli,¬†who was made practice co-head in early 2019.

Leading lawyers

Andrew Needham - Cravath, Swaine & Moore LLP

Lauren Angelilli - Cravath, Swaine & Moore LLP

Stephen Gordon - Cravath, Swaine & Moore LLP

Next Generation Partners

Leonard Teti - Cravath, Swaine & Moore LLP

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Latin America: International firms

Capital markets
Capital markets - ranked: tier 4

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP does not play the volume game in Latin America, but deserves credit for its engagements in a series of headline deals over the years. This includes IPOs, secondary offerings, high-yield and investment-grade bond offerings. It has advised on transactions involving issuers from Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru, Uruguay, Venezuela and other Latin American jurisdictions; clients include Banco Santander, BBVA, Citigroup, Credit Suisse and JP Morgan. Having spent many years in London, David Mercado is now based in New York; he has a strong focus on Latin America and has advised on numerous big-ticket deals in the region over recent years. He led the team that advised the underwriters on the $1bn registered notes offering of Enel Chile, the Chilean electricity utility company; the notes were listed on NYSE. The firm, a global leader in high-yield debt offerings, regularly advises on deals involving issuers that have considerable interests or assets in Latin America. Craig Arcella, another experienced figure in Latin America capital markets issuances, led the team that advised Credit Suisse as the initial purchaser on the $1bn 144A/Reg S high-yield first lien and second lien pay-in-kind (PIK) notes offering of  international offshore drilling contractor, Pacific Drilling; the notes were issued as part of a reorganisation plan by the company.

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Corporate and M&A
Corporate and M&A - ranked: tier 3

Cravath, Swaine & Moore LLP

Cravath, Swaine & Moore LLP has always managed to maintain a prominent global standing in M&A, despite having more limited coverage and resources than its major international rivals. This is also true for its Latin America practice, which largely centres on the eminent David Mercado, now back in New York after a long stint in London, and a handful of other partners that occasionally advise on transactions in the region. Clients include Banco Santander,¬†Becle (Jose Cuervo) and¬†Grupo Financiero Interacciones. Partner Mark Greene led the team that advised Grupo Financiero Interacciones on its $1.4bn sale to Grupo Financiero Banorte; both are Mexico-based financial services providers. In another major deal involving a Latin American financial institution, Richard Hall led the team that advised Banco Santander on the $528m sale of TotalBank by its subsidiary Banco Popular Espa√Īol to Chile's Banco de Cr√©dito e Inversiones. Other headline matters included advising Mexico's Becle on its $205m acquisition of the Pendleton Whisky brand assets from Hood River Distillers.

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Latin America: International firms

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