Cravath, Swaine & Moore LLP > Washington, United States > Firm Profile
Cravath, Swaine & Moore LLP Offices
1601 K Street NW
Washington, D.C. 20006
United States
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Cravath, Swaine & Moore LLP > The Legal 500 Rankings
Antitrust > Civil litigation/class actions: defense Tier 1
The antitrust team at Cravath, Swaine & Moore LLP routinely acts for leading names in the tech, media, and life sciences sectors and has extensive experience handling precedent-setting, business-critical litigation cases spanning the full range of antitrust issues, including monopolization allegations, price-fixing, and consumer class actions. Former assistant attorney general for antitrust Christine Varney and former FTC Commissioner Noah Joshua Phillips in Washington DC, jointly head the team, leveraging their agency experience to advise clients in bet-the-company litigations and class actions. Seasoned litigator David Marriott takes point on both vertical and horizontal merger challenges and has an impressive track record in this area. Described by clients as ‘one of the best,’ Kevin Orsini, who co-heads the firm’s litigation department alongside experienced antitrust litigator Gary Bornstein, is another key member of the team who routinely takes point on large and complex antitrust litigations and class action cases in the digital advertising and finance sectors. Lauren Roberta Kennedy is a key name for multidistrict litigations in the healthcare sector. Unless otherwise stated, all mentioned lawyers are based in New York.Practice head(s):
Christine Varney; Noah Joshua Phillips
Other key lawyers:
Testimonials
‘Cravath has helped develop a winning strategy for a very complex MDL. The strategy and performance have been fantastic.’
‘Kevin Orsini is one of the best antitrust litigators in the market.’
Key clients
Amgen Inc.
Blue Cross Blue Shield Association
Corteva, Inc.
Epic Games, Inc.
International Business Machines Corporation (“IBM”)
Illumina, Inc.
Light & Wonder, Inc.
Meta Platforms, Inc.
Morgan Stanley
Robinhood Markets, Inc.
Tesla, Inc.
The Walt Disney Company
Work highlights
- Represented Amgen in successfully defending against an FTC challenge to Amgen’s $27.8 billion acquisition of Horizon Therapeutics.
- Representing Meta in putative class action and individual antitrust litigation filed throughout the country related to the multi-billion-dollar digital advertising industry.
Dispute resolution > Financial services litigation Tier 1
Cravath, Swaine & Moore LLP’s financial services litigation practice represents impressive clients across a range of sectors including consumer finance, investment banking and brokerage, and diversified banks in claims and disputes pertaining to antitrust and class actions. The team is regularly involved in complex, high-profile, and high-stakes matters, notably representing Robinhood in numerous class actions after its decision to temporarily place limits on trading certain securities. Daniel Slifkin is an extremely active member of the group and represents financial institutions in matters such as antitrust claims, securities claims, and general contract disputes. Class actions are Slifkin’s specialty and he holds extensive trial experience. Another key member of the practice is Lauren Moskowitz, who is recognized for her regulatory, investigative, and securities work. Michael Paskin has expertise across the board, representing clients in matters ranging from financial products, class actions, and fraud actions. Antony Ryan is well-versed in the intricacies of investigations and enforcement actions, representing clients before the SEC and DOJ. Focusing on securities, general commercial, and antitrust matters is Lauren Rosenberg. All attorneys mentioned are based in New York.Other key lawyers:
Daniel Slifkin; Michael A. Paskin; Antony L. Ryan; Lauren A. Moskowitz; Lauren Rosenberg
Key clients
American Express Company
Blackstone Inc.
Citigroup Global Markets Inc.
Credit Suisse Asset Management
Dfinity Foundation
Goldman Sachs Asset Management
Morgan Stanley
Nomura International plc
Owl Rock Capital Inc.
Robinhood Markets, Inc.
Truist Bank
Westpac Banking Corporation
Work highlights
- Secured a favorable settlement for Fifth Season Investments in a dispute concerning the payment of an $18.5 million break-up fee.
- Achieved a Second Circuit decision for Morgan Stanley affirming the complete dismissal of antitrust litigation alleging a conspiracy to control the highly lucrative stock loan market.
- Representing Robinhood as lead counsel in dozens of lawsuits, including numerous putative class actions, arising out of Robinhood’s decision to temporarily place certain limits on trading in certain securities in the face of unprecedented market volatility.
Dispute resolution > General commercial disputes Tier 1
Cravath, Swaine & Moore LLP fields an ‘excellent, dedicated and highly professional team’ of seasoned trial lawyers who are adept across the full range of high-profile, business-critical litigation, including disputes involving breach of contract, fraud, breach of fiduciary duty, tortious interference, employee ‘raiding’, and unfair competition claims, among many others. New York-based attorneys Gary Bornstein and Kevin Orsini, who is praised by clients as the ‘best in the business’, jointly head the litigation department. Bornstein predominantly focuses on antitrust, M&A and securities litigation, while Orsini remains a key name for complex litigation relating to mass torts and post-M&A disputes, among others. Pre-eminent trial lawyer David Marriott‘s practice emphasises litigation and arbitration in the areas of antitrust, intellectual property, employment and securities, while Lauren Moskowitz represents some of the firm’s biggest clients in crucial restructuring andIP litigation mandates, including appearing before the Supreme Court. Former firm chairman Evan Chesler retired from the litigation department in December 2023. All named contacts are based in New YorkPractice head(s):
Gary Bornstein; Kevin Orsini
Other key lawyers:
David Marriott; Timothy Cameron; Wes Earnhardt; Lauren Moskowitz; Omid Nasab; Vanessa Lavely; Brittany Sukiennik
Testimonials
‘An excellent, dedicated and highly professional team with a rare ability to understand and simplify complex factual and legal issues and present these in a clear and understandable way. ’
‘Omid Nasab was brilliant and such a pleasure to work with. Extremely intelligent, strategic and commercial and has the ability to dive into complex factual and legal matters. ’
‘Cravath has helped develop a winning strategy for a very complex MDL. Their strategy and performance has been fantastic.’
‘Kevin Orsini is one of the best in the business. He is a great strategist and very easy to work with.’
Key clients
Blackstone Credit
Costamare Inc.
Crown Castle International Corp.
Louis Dreyfus Company, LLC
PG&E Corporation
Polar Air Cargo Worldwide, Inc.
Robinhood Markets, Inc.
Tesla Board of Directors
Unilever PLC
The Walt Disney Company
The Williams Companies, Inc.
Xcel Energy
Work highlights
- Represented Disney as lead trial counsel in an action filed by a Mexican football team alleging breach of contract and other claims in connection with Disney’s agreement to divest certain broadcasting assets in Mexico.
- Represented Robinhood as lead counsel in the sprawling and high-profile “meme stock” litigation.
- Represented Xcel Energy as lead trial counsel in litigation arising from the December 2021 Marshall Wildfire.
Dispute resolution > M&A litigation: defense Tier 1
Cravath, Swaine & Moore LLP in New York ‘pursues cases relentlessly‘, frequently represents companies, boards of directors and special committees in individual, class and derivative actions arising from contemplated or hostile transactions, including mergers, acquisitions and other business deals. Gary Bornstein and Kevin Orsini are among the standout partners, along with veteran litigator Robert Baron. Key partners Justin Clarke and Antony Ryan are also highly regarded by peers. They are working with Bornstein on behalf of Deutsche Telekom, the controlling stockholder of T-Mobile, in class action and derivative litigation alleging that defendants breached their fiduciary duties in connection with T‑Mobile’s $26bn merger with Sprint by not arguing for more favourable terms. With Orsini, he won a summary judgment for Blackstone as the pre-IPO private equity sponsor and a principal stockholder of online dating application Bumble concerning its dual-class voting structure. Rory Leraris left the firm in January 2024.Other key lawyers:
Key clients
Bacardi Limited
Blackstone Inc.
Bombardier Inc.
Deutsche Telekom AG
Forward Air Corporation
Goosehead Insurance, Inc.
Micro Focus International plc
Tesla, Inc. CEO Elon Musk
SPI Group
Unilever PLC
The Walt Disney Company
The Williams Companies, Inc.
Work highlights
- Successfully represented affiliates of Bacardi in actions brought by an entity controlled by Shawn “Jay-Z” Carter concerning ownership of D’Ussé, a popular cognac brand.
- Secured a favorable settlement for members of the special transaction committee of Viacom’s Board of Directors in consolidated putative class action litigation concerning Viacom’s $30 billion merger with CBS Corporation.
- Represented The Williams Companies as lead trial and appellate counsel, securing a judgment totalling more than $600 million—following wins at trial in the Delaware Court of Chancery and on appeal to the Delaware Supreme Court—in M&A litigation against Energy Transfer related to a planned $37.7 billion merger.
Dispute resolution > Securities litigation: defense Tier 1
New York-based Cravath, Swaine & Moore LLP is led by co-head of the litigation department Kevin Orsini, whose track record of involvement in market-leading cases continues. He won a complete summary judgment victory for generic drug manufacturer Viatris Inc. concerning the marketing, pricing and classification of EpiPen, as well as alleged conduct concerning generic drug price fixing and market allocation. He is also working with well-regarded securities litigators Daniel Slifkin and Antony Ryan to defend Robinhood Markets, Inc. in the sprawling ‘meme stock’ litigation, which concerns the company’s decision to temporarily place limits on trading in GameStop and other securities in the face of unprecedented market volatility in 2021. They have, so far, secured the dismissal of two of the three tranches of litigation against the company. Karin DeMasi worked closely with emerging partner talent Lauren Rosenberg to secure back-to-back dismissals of class actions against First Solar, Inc. Among the firm’s other up-and-coming partners are Wes Earnhardt, who is involved in a notable matter concerning the Disney+ streaming service, and Lauren Moskowitz, who is widely recognised as a tenacious litigator.Other key lawyers:
Gary Bornstein; Kevin Orsini; Daniel Slifkin; Antony Ryan; Karin DeMasi; Lauren Mokowitz; Lauren Rosenberg
Key clients
Deutsche Telekom AG
Dfinity Foundation
First Solar, Inc.
Micro Focus International plc
Occidental Petroleum Corporation
Peabody Energy Corporation
QualcommIncorporated
Robinhood Markets, Inc.
Root, Inc.
Tesla, Inc. CEO Elon Musk
Viatris Inc.
The Williams Companies, Inc.
Work highlights
- Won back-to-back dismissals to defeat putative class action securities litigation filed against First Solar concerning the company’s “Series 6” solar module.
- Representing Robinhood as lead counsel in dozens of lawsuits, including numerous putative class actions, arising out of Robinhood’s decision to temporarily place certain limits on trading in certain securities in the face of unprecedented market volatility.
- Won a major trial decision for Tesla CEO Elon Musk, affirmed by the Delaware Supreme Court in June 2023, defeating a stockholder derivative action that had sought $13 billion in damages related to Tesla’s acquisition of SolarCity.
Environment > Environment: transactional Tier 1
Cravath, Swaine & Moore LLP‘s New York-based environmental practice is home to a team of experienced professionals who continue to advise a broad range of corporate clients, including Brookfield Renewables and RWE, on the full spectrum of environmental and sustainability-related transactions. These range from mergers and acquisitions to divestments, green bond financing, and ESG regulatory issues. Matthew Morreale heads the firm’s environmental team, and is noted for his deep expertise in handling environmental proceedings and investigations, as well as regularly advising on ESG-related issues such as sustainability reporting, acquisition and investment due diligence. Another key contact is ‘first-class’ Annmarie Terraciano, whose broad practice spans mergers and acquisitions, capital markets transactions and environmental litigation, most notably in the heavy manufacturing, chemical and mining sectors.Practice head(s):
Matthew Morreale
Other key lawyers:
Testimonials
‘The firm’s technical strength and knowledge of the law are unsurpassed. The team is willing to work under extremely tight deadlines and shows great availability.’
‘The team at Cravath Swaine & Moore is at the forefront of the transactional landscape. It is great to deal with them, they are very knowledgeable about the law and the market, and they handle transactions brilliantly.’
‘Annmarie Terraciano is absolutely first class, and it is a pleasure to deal with her. She is one of those lawyers who have an incredible ability to cut through large amounts of complex information and identify key points.’
Key clients
Altra
Brookfield Renewables
EchoStar (Special Committee)
Forward Air
IBM
Johnson & Johnson
Newcrest
RWE
Viatris
Vista Outdoor
WestRock
Work highlights
- Advised Newcrest on the environmental law aspects of its A$28.8 billion acquisition by Newmont.
- Advised RWE on the environmental law aspects of its $6.8 billion acquisition of the Con Edison Clean Energy Businesses.
- Advised Vista Outdoor on the environmental law aspects of its pending $1.91 billion separation and sale of its Sporting Products business to Czechoslovak Group and the separation of its Outdoor Products business, forming Revelyst.
Finance > Capital markets: debt offerings
Cravath, Swaine & Moore LLP has a reputation for advising on landmark and highly-complex debt offerings, including those linked to acquisitions and spin-off transactions. The wide-ranging practice covers investment grade, high-yield, convertible and exchangeable debt deals, with the team acting for issuers and underwriters. Ryan Patrone and Kelly Smercina were recently elected to the partnership, expanding the capital markets team’s senior ranks. It frequently advised blue-chip issuers along with the most active underwriters and initial purchasers in big-ticket offerings. Craig Arcella, Andrew Pitts and Nicholas Dorsey are top members of the team, with Michael Mariani making a further impression in investment grade debt offerings. William Fogg and Stephen Burns are also senior members of the practice. Named individuals are all based in New York.Practice head(s):
Craig Arcella; William Fogg; Andrew Pitts
Other key lawyers:
Ryan Patrone; Kelly Smercina; Nicholas Dorsey; Stephen Burns
Key clients
AerCap
Booking
Burlington Northern Santa Fe
Crown Castle
IBM
Illumina
Kenvue
Nestlé
Northrop Grumman
Qualcomm
Weyerhaeuser
Work highlights
- Represented the underwriters in fivenotes offerings of JPMorgan Chase aggregating $15.25bn.
- Represented Kenvue in its $7.75bn notes offering in connection with its separation from Johnson & Johnson.
- Represented the underwriters in the $3.25bn notes offering of L3Harris Technologies to finance its acquisition of Aerojet Rocketdyne.
Finance > Capital markets: global offerings
Cravath, Swaine & Moore LLP‘s international reputation sees it act for a large number of foreign issuers, including those from Canada, Europe and Latin America. It represented AerCap Holdings in three equity offerings and two debt offerings in 2023 with a total value of $8.81bn. It also advised Nestlé Holdings on two 144A/Reg S notes offerings, worth $4.5bn. Craig Arcella has a strong reputation for global deals, as do Andrew Pitts and Nicholas Dorsey . Kelly Smercina and Ryan Patrone were promoted to the partnership in January 2023. All are based in New York.Practice head(s):
Craig Arcella; William Fogg; Andrew Pitts
Other key lawyers:
Nicholas Dorsey
Key clients
AerCap
Barrick Gold
Element Fleet
H&M
INEOS
Nestlé
Various financial institutions
Work highlights
- Represented AerCap in five offerings totaling $8.81bn.
- Represented Nestlé in two notes offerings totaling $4.5bn.
- Represented the underwriters in the $600m notes offering of Canadian National Railway Company.
Finance > Commercial lending
Cravath, Swaine & Moore LLP‘s banking and credit practice is experienced at handling a range of lending transactions. The New York-based team is jointly led by George Zobitz whose practice encompasses syndicated loans, direct lending transactions and securities; Tatiana Lapushchik who is a key name for leveraged and investment grade bank financings in the industrial, consumer, technology, media and oil and gas sectors; and Stephen Kessing who is well versed at representing borrowers across a range of industries and large financial institutions in a range of lending transactions. Matthew Kelly is also a valued member of the team with experience representing clients on both the lender and borrower side of financing. March 2023 saw the arrival of Korey Fevzi and Philip Stopford from Shearman & Sterling LLP.Practice head(s):
George E; Tatiana Lapushchik; Stephen M. Kessing
Other key lawyers:
Key clients
AerCap
Biogen
British American Tobacco
Cable One
First Solar
Genpact
Hasbro
HLS Therapeutics
Illumina
Kenvue
Occidental
Various financial institutions
Work highlights
- Represented AerCap, as borrower, in connection with $5.14bn of term loan facilities and a $200m revolving credit facility.
- Represented Kenvue, as borrower, in its $4bn revolving credit facility in connection with its separation from Johnson & Johnson.
- Represented Biogen, as borrower, in connection with $1.5 billion of credit facilities to finance the acquisition of Reata.
Finance > Fintech
A strong choice for broker-dealers, banks, startups, as well as public companies, the New York-based practice at Cravath, Swaine & Moore LLP is knowledgeable of digital payments, protocol design, and Web3 intellectual property mandates. Other areas of expertise for the practice include regulatory cryptocurrency matters, decentralized finance, and DAOs. David Kappos oversees the team and is proficient in the intellectual property aspects of blockchain and cryptocurrency matters. A partner in the firm’s corporate department, Scott Bennett advises issuers and investment banking firms on public and private offerings of securities. Sasha Rosenthal-Larrea often handles the technology, intellectual property, data privacy, and data security aspects of major corporate transactions, while Daniel Barabander is particularly well-versed in compliance and securities matters. Other key team members include co-lead of the firm’s litigation practice Kevin Orsini.Practice head(s):
David Kappos
Other key lawyers:
Testimonials
‘The approach taken by all of the counsel I have is truly top class. I have several teams that work with me on large projects and nothing every slips through the cracks.‘
Key clients
Art Blocks
BitDeer
Dfinity
Robinhood
Silvergate
Work highlights
- Advised Robinhood on its $605.7 million purchase from the United States Marshals Service of shares previously owned by bankrupt Emergent Fidelity Technologies.
- Advised Art Blocks on an agreement for future equity.
- Represented Bitdeer on SEC issues related to its $1.18 billion SPAC combination with Blue Safari.
Labor and employment > Employee benefits, executive compensation and retirement plans: transactional Tier 1
Cravath, Swaine & Moore LLP offers expert assistance in navigating the executive compensation and benefits implications of complex corporate transactions, including issues related to succession, disclosure, ERISA, and governance. Eric Hilfers, leading the team in New York, is renowned for his expertise in executive hiring and his significant role in the M&A sector, notably in Newcrest’s A$28.8 billion acquisition of Newmont Corporation, forming the largest gold mining entity globally. Jonathan Katz delivers advice on employee agreements and incentive programs, keeping pace with regulatory changes such as clawback provisions. Amanda Hines Gold specializes in the creation and negotiation of severance packages, SEC filings disclosures, and the management of equity incentive schemes. Meanwhile, Matthew Bobby’s area of focus includes guiding clients through spin-offs, IPOs, and mergers, with particular attention to separation and executive employment contracts, and the intricacies of SEC disclosures.Practice head(s):
Eric Hilfers
Other key lawyers:
Jonathan Katz; Amanda Hines Gold; Matthew Bobby
Key clients
ADT
Biogen
Brookfield Renewables
Johnson & Johnson
Newcrest
RWE
EchoStar Special Committee
The Snyder Family (Washington Commanders)
The Walt Disney Company
WestRock
Work highlights
- Provided executive compensation and benefits advice to Johnson & Johnson in the separation of Kenvue.
- Providing executive compensation and benefits advice to WestRock in its pending $20 billion combination with Smurfit Kappa.
- Provided executive compensation and benefits advice to Newcrest in its A$28.8 billion acquisition by Newmont.
M&A/corporate and commercial > M&A: large deals ($1bn+) Tier 1
Cementing its status as a market-leading outfit for high-value M&A, the team at Cravath, Swaine & Moore LLP demonstrates extensive expertise in handling cross-border joint ventures, divestitures, and strategic investments. Drawing upon a deep bench of seasoned corporate lawyers, the department regularly advises global companies in the pharmaceutical, finance, and digital sectors on a wide range of transactional matters. With the outfit operating entirely out of New York, presiding partner Faiza Saeed is highly regarded for her corporate governance and crisis management work, while co-head Mark Greene focuses primarily on complex restructuring matters and private equity deals. Co-head Robert Townsend is an expert in international M&A and activist defense proceedings, and George Schoen routinely counsels corporations and their directors on fiduciary duty issues. Co-head Richard Hall is a specialist in managing strategic partnerships in the renewable energy field, Ting Chen is knowledgeable on corporate activism matters, and Aaron Gruber oversees general corporate affairs. Keith Hallam left the team in March 2024.Practice head(s):
Faiza Saeed; Mark Greene; Robert Townsend; George Schoen; Richard Hall
Other key lawyers:
Ting Chen; Aaron Gruber; Keith Hallam; G.J. Ligelis Jr.
Key clients
Biogen
Deutsche Börse
EchoStar
Hasbro
IBM
Johnson & Johnson
Route Mobile
RWE
The Snyder Family
Viatris
The Walt Disney Company
WestRock
Work highlights
- Represented Brookfield Renewable Partners in its $8bn acquisition of Westinghouse.
- Advised Biogen on its $7.3bn acquisition of Reata Pharmaceuticals.
- Advised Viatris in connection with divestitures totaling $6.94bn.
Tax > International tax Tier 1
Cravath, Swaine & Moore LLP’s New York-based tax team designs tax-efficient structures for a broad range of US and cross-border transactions, including mergers, spin-offs, joint ventures, private equity fund formations, and internal restructurings. Practice head Lauren Angelilli focuses on advising clients on the tax and structuring aspects of M&A, joint ventures, and spin-offs. Alongside advising on the tax aspects of M&A, Ronald Creamer advises clients on the IRS review and execution of tax-efficient financing techniques. Christopher Fargo advises on transactions across a wide range of industries, such as media and entertainment, consumer products, retail, and energy. Leonard Teti has extensive expertise advising companies on the tax issues arising out of complex, cross-border M&A and spin-off transactions as well as advising clients during audits by the IRS and other tax authorities. Andrew Davis has a special focus on the tax aspects of M&A, including SPAC, spin-offs, and private equity transactions. As well as advising on M&A, Arvind Ravichandran also advises clients on strategic alliances, restructuring transactions and related financing, and private equity investments across multiple asset classes.Practice head(s):
Lauren Angelilli
Other key lawyers:
Key clients
AngloGold Ashanti
Bacardi
Brookfield Renewable
Deutsche Börse
Micro Focus
Newcrest
Novartis
Rothschild
Route Mobile
RWE
SMBC Aviation Capital
WiseTech
Work highlights
- Represented Novartis, as U.S. tax counsel, in connection with the $11.4 billion spin-off of Sandoz.
- Advised Newcrest Mining in connection with its A$28.8 billion acquisition by Newmont.
- Advised Bacardi in connection with its acquisition of ILEGAL Mezcal and its long-term agreement with Shawn “JAY-Z” Carter to renew their partnership with D’USSÉ.
Tax > US taxes: non-contentious Tier 1
Cravath, Swaine & Moore LLP’s premier transactional tax practice in New York advises on a wide range of matters, including mergers, spin-offs, joint ventures, fund formations, and restructurings. The team’s client base includes leading names such as Johnson & Johnson and The Walt Disney Company, with the team recently advising Johnson & Johnson in connection with the separation of major pure-play consumer health company Kenvue, Inc., a historic split-off transaction. Lauren Angelilli, focusing on the tax aspects of domestic and cross-border M&A spin-offs, restructurings, and joint ventures, leads the department. Ronald Creamer offers notable expertise in cross-border acquisitions and dispositions as well as in relation to the IRS review of tax-efficient financing techniques and capital markets transactions. Christopher Fargo advises on mergers, reorganizations, securities offerings, and joint ventures in a wide range of industries, including media, retail, telecoms, energy, healthcare and fintech. Leonard Teti assists clients in spin-offs and private equity transactions as well as during IRS audits. Andrew Davis‘s diverse practice covers SPAC, spin-off, and private equity transactions as well as securities offerings, while Arvind Ravichandran represents major clients in the mining, tech, and healthcare sectors, among others.Practice head(s):
Lauren Angelilli
Other key lawyers:
Key clients
ADT
Biogen
EchoStar Special Committee
Hasbro
IBM
Johnson & Johnson
Novartis
Silvergate
Thermo Fisher
Viatris
Vista Outdoor
The Walt Disney Company
Work highlights
- Provided tax advice to Johnson & Johnson in connection with the separation of Kenvue.
- Provided tax advice to Brookfield Renewable Partners in its $8 billion acquisition of Westinghouse Electric and in its $2.8 billion acquisition of Duke Energy Renewables.
- Provided tax advice to the Snyder family in connection with the $6.05 billion sale of the National Football League’s Washington Commanders.
Antitrust > Merger control Tier 2
Praised for its ‘unique pragmatism and client-centric understanding’, the antitrust team at Cravath, Swaine & Moore LLP focuses on high-stakes, complex, and precedent-setting matters, advising major corporates and financial institutions in the US and internationally across a myriad of sectors and industries. The team is regularly sought after for its expertise on litigation and investigations work brought by the DOJ, FTC, and state attorneys general, as well as international antitrust enforcers. Antitrust chair Christine Varney, a former FTC Commissioner, is a key name for navigating clients through the regulatory clearance process for high-stakes mergers, evidenced by her representation of Illumina on the FTC investigation into its acquisition of GRAIL. Washington DC-based co-chair Noah Joshua Phillips continues to act on major deal clearances, notably representing WestRock Company on its pending $20 billion combination with Smurfit Kappa Group. Maggie Segall focuses on transactional matters and merger-related litigation. Lawyers are based in New York unless otherwise stated. Daniel Zach left the firm in January 2024.Practice head(s):
Christine Varney; Noah Joshua Phillips
Other key lawyers:
Maggie Segall; Craig Arcella; Steve Kessing; Nicholas Dorsey
Testimonials
‘Cravath brings exceptional client service and is a “go to” firm for any company interested in strategic transactions. The practice is not only the best when it comes to substantive experience, but also offers a unique pragmatism and client-centric understanding. They understand that each transaction is unique and different; there is no “cookie cutter” approach to deal work within the practice. Moreover, they commit to true value and collaborate on fees and costs that make sense for each individual transaction. ’
‘Craig Arcella Steve Kessing and Nicholas Dorsey are exceptional, particularly when it comes to client service, pragmatism and business acumen. I always appreciate working with these 3 lawyers because they immediately engage in the overarching strategy of a transaction, not just the legal details. They want to and do understand how each transaction fits into the business and this makes them true “business advisors”, not just legal practitioners.’
Key clients
Amgen Inc.
Altra Industrial Motion Corp.
Atlas Air Worldwide Holdings, Inc.
Brookfield Reinsurance Ltd.
Cisco Systems, Inc.
EchoStar Corporation
Illumina, Inc.
Louis Dreyfus Company, LLC
Micro Focus International plc
RWE AG
The Walt Disney Company
WestRock Company
Work highlights
- Representing Illumina on appeal after securing an unprecedented trial win rejecting the FTC’s high-profile challenge to the company’s $8 billion acquisition of GRAIL.
- Represented Amgen in successfully defending against an FTC challenge to Amgen’s $27.8billion acquisition of Horizon Therapeutics.
- Representing Cisco Systems on antitrust issues in connection with its pending $28 billion acquisition of Splunk.
Finance > Capital markets: equity offerings
Cravath, Swaine & Moore LLP‘s large capital markets team and its experienced bench of partners brings it a steady stream of big-ticket engagements, both for issuers and underwriters. Along with its outstanding record in high-yield and investment grade debt transactions, its domestic and global reputation consistently puts it in the frame for the most sought after equity offerings. Despite dampened deal activity in 2o23, it advised on Kenvue’s $4.37bn IPO as part of its $41bn spin-off from Johnson & Johnson. Michael Mariani has carved out a burgeoning reputation. Daniel Haaren is another emerging name, along with Nicholas Dorsey . William Fogg, Andrew Pitts and Scott Bennett are the senior names in the team. All are based in New York.Practice head(s):
Craig Arcella; William Fogg; Andrew Pitts
Other key lawyers:
Michael Mariani; Daniel Haaren; Nicholas Dorsey; Scott Bennett
Testimonials
‘The bench is very deep and has the expertise on everything we have needed.‘
‘Very good, practical judgment. Disclosure is often more art than science, and Cravath’s advice strikes just the right balance between being appropriately protective and commercially actionable.‘
Key clients
AerCap
H&M
INEOS
Johnson & Johnson
Kenvue
Monogram Health
US Foods
White Mountains
Various financial institutions
Work highlights
- Represented Kenvue and Johnson & Johnson in connection with Kenvue’s $4.37bn, the largest to result from a corporate carve out in over two decades.
- Represented AerCap in three secondary offerings of ordinary shares by the selling shareholder, a wholly owned subsidiary of General Electric, totalling $6.06bn.
- Represented the underwriters in the $2.03bn registered secondary common stock offering of agilon health.
Finance > Capital markets: high-yield debt offerings
Cravath, Swaine & Moore LLP is consistently active in high-yield debt offerings, both for issuer and underwriter engagements. The firm has continued to be engaged in headline and challenging deals, including those linked to acquisitions and spin-offs. Joseph Zavaglia has made a further impression in major transactions, along with longstanding leader Craig Arcella. Andrew Pitts, William Fogg and Scott Bennett are also prominent. Douglas Dolan is an up and coming name, having led a number of significant deals. The team has also looked to expand its partner ranks with the recent promotion of Ryan Patrone and Kelly Smercina to the partnership. All are based in New York.Practice head(s):
Craig Arcella; William Fogg; Andrew Pitts
Other key lawyers:
Joseph Zavaglia; Scott Bennett; Douglas Dolan; Ryan Patrone; Kelly Smercina
Testimonials
‘Amazing team — business friendly, sophisticated and always produces great outcomes.’
‘Andy Pitts is amazing. His knowledge and expertise are second to none. ’
Key clients
Burford Capital
Forward Air
US Foods
Various financial institutions
Work highlights
- Represented the initial purchasers in three high-yield senior secured notes offerings of TransDigm totalling $3.55bn.
- Represented the initial purchasers in the $1.35bn 144A/Reg S senior notes offering of NCR Atleos Escrow Corporation to finance the spin-off of NCR Atleos by NCR Corporation.
- Represented Forward Air Corporation in a $725m 144A/Reg S high-yield senior secured notes offering to finance the acquisition of Omni.
Media, technology and telecoms > Media and entertainment: litigation Tier 2
Based in New York, the team at Cravath, Swaine & Moore LLP is well versed in the intricacies of high-profile contentious matters. The firm regularly leads litigation on behalf of major media and entertainment clients, including precedent-setting copyright claims. The practice’s expertise particularly lends itself to the corporate aspects of media litigation, such as antitrust, securities, and contractual disputes. The team saw a notable victory in December 2023, winning on all counts in an antitrust dispute that determined Google had acted anticompetitively in its distribution of apps and payments, while similar litigation against Apple remains ongoing. Gary Bornstein and Kevin Orsini are experienced partners who both regularly demonstrate their court room capabilities in high-stakes commercial media disputes. Wes Earnhardt is a further key contact in the team and represents the likes of the Walt Disney Company and Epic Games in impactful antitrust, copyright infringement, and breach of contract matters. David Korn is rising at the firm and continues to demonstrate his ability to manage putative class actions, as well as securities and commercial litigation.Other key lawyers:
Key clients
The Walt Disney Company
Epic Games, Inc.
Light & Wonder, Inc.
Meta Platforms, Inc.
Directors of Viacom.
Work highlights
- Representing the The Walt Disney Company in an action filed by a Mexican football team alleging breach of contract claims.
- Representing Epic Games as plaintiff in antitrust actions against Google and Apple alleging they engage in anticompetitive behavior in the distribution of mobile apps and the handling of in-app payments.
- Representing Respondents in a U.S. Supreme Court appeal concerning the Copyright Act’s statute of limitations and the ability to recover damages in infringement cases.
Media, technology and telecoms > Telecoms and broadcast: transactions Tier 2
Cravath, Swaine & Moore LLP‘s corporate team works closely with a growing list of clients in the telecoms and broadcast sector. The practice advises on a full range of corporate transactions, from M&A to financings, as well as tax, strategic IP and ESG matters. It is active in sector-significant transactions, representing Echostar’s board of directors in the corporation’s merger with DISH Network. Based in New York, Robert Townsend III is co-head of the firm’s global M&A team and, beyond his focus on M&A, handles corporate governance matters and is recognized for his activism defense work in the telecoms and broadcast space.Practice head(s):
Robert I. Townsend III
Key clients
Airspan Networks
Cable One
Cincinnati Bell
Consolidated Communications Special Committee
Crown Castle
EchoStar Special Committee
Frontier Communications
Qualcomm
Radius Global
Rogers Communications
Route Mobile
Work highlights
- Representing the special committee of the board of directors of EchoStar in the approximately $6bn pending combination with DISH Network.
- Representing Consolidated Communications’ special committee in its pending $3.1bn acquisition by Searchlight and BCI.
- Represented Radius Global Infrastructure in its $3bn acquisition by EQT Active Core Infrastructure and PSP Investments.
Dispute resolution > Corporate investigations and white-collar criminal defense Tier 3
The investigations and regulatory enforcement team at Cravath, Swaine & Moore LLP is led by John Buretta, who practices from the firm’s New York office. Buretta has comprehensive experience handling a range of matters such as securities fraud, tax compliance, and antitrust laws. Also based in New York, Benjamin Gruenstein is another integral part of the team who regularly advises companies and senior executives on investigations into insider trading, accounting fraud, and money laundering. Located in Washington DC, Jennifer Leete is recommended for her skill at navigating investigations into financial crimes. The team in Washington DC is strengthened with the addition of Jeffrey A. Rosen, who joined from the DOJ in July 2023. David Stuart retired from the New York office in December 2023.Practice head(s):
John Buretta
Other key lawyers:
Benjamin Gruenstein; Jennifer Leete; Jeffrey A. Rosen; Evan Norris
Testimonials
‘The team provides elite-level white-collar defense and crisis management advice. They provided outstanding client service, including being remarkably responsive.’
Key clients
British American Tobacco
AerCap Holdings N.V.
Goldman Sachs Asset Management LP
The Brink’s Company
Goldman Sachs & Co.
Independent Members of the Board of Silvergate
Novartis Pharmaceuticals Corporation
Heritage Provider Network, Inc.
Biogen Inc.
Robinhood Markets, Inc.
Work highlights
- Represented British American Tobacco in reaching a global settlement with the DOJ and OFAC to resolve sanctions breaches.
- Representing AerCap Holdings N.V. in connection with sanctions and export controls matters involving Russian airlines’ refusal to return over 100 aircraft previously leased from the company following Russia’s invasion of Ukraine.
- Represented Goldman Sachs Asset Management LP in a SEC investigation into Goldman’s historical policies and procedures related to three of its ESG investment portfolios.
Dispute resolution > Leading trial lawyers Tier 3
Cravath, Swaine & Moore LLP‘s Daniel Slifkin in New York, who has a strong track record in complex litigation and securities law, counts Tesla as a key client because of his continuing involvement in cases involving Tesla, including a multi-billion dollar trial. Notably, Slifkin is one of the few lawyers to take a securities fraud class action litigation through to jury verdict, and is adept in trials for large corporations such as Morgan Stanley, often working on matters in the banking sector.David Marriott, who operates out of Cravath, Swaine & Moore LLP‘s New York office, has acted in precedent-setting trials in recent years, including the first vertical merger challenge to go to the FTC in 40 years. In 2023, Mariott was lead counsel in a case for Amgen Inc, one of the biggest biopharmaceutical companies in the world in relation to its $27.8 billion acquisition of Horizon Therapeutics. Marriott is an experienced trial lawyer with many successes, and has a strong record in areas such as antitrust, employment, and IP.M&A/corporate and commercial > Shareholder activism Tier 3
Cravath, Swaine & Moore LLP is an experienced name for advising boards of directors and executive management under threat from shareholder activism. The group is adept at giving preventative advice to protect against activist attacks, and when campaigns take place the team has strength both in settlements and proxy fights. The practice has historically acted for some of the largest global corporations in a spread of sectors, including recently acting for Disney in a proxy contest. Robert Townsend is the leading figure in the New York-based practice and focuses on activist defense as well as M&A and general corporate governance. He is supported by more junior partner Daniel Cerqueira, whose practice has a similar breadth of expertise across corporate and M&A. Other notable contacts are presiding partner Faiza Saeed; corporate head Mark Greene; George Schoen, who co-leads the global M&A practice with Townsend; and EMEA M&A practice head Richard Hall.Practice head(s):
Faiza Saeed; Mark Greene; Robert Townsend; George Schoen; Richard Hall
Other key lawyers:
Key clients
Frontier Communications
Illumina
Pitney Bowes
ViewRay
The Walt Disney Company
Work highlights
- Represented Disney in its successful proxy contest with Trian Fund.
- Represented Illumina in its proxy contest against Carl Icahn.
- Advised ViewRay on its cooperation agreement with Hudson Executive Capital.
Media, technology and telecoms > Media and entertainment: transactional Tier 3
Cravath, Swaine & Moore LLP has amassed considerable experience in handling transformative transactions, including as acquisitions, divestitures and financings, for a raft of blue-chip media and entertainment clients. In New York, practice head and firmwide presiding partner Faiza Saeed is sought out by public companies, boards of directors and special committees for assistance with M&A, corporate governance, takeover defense, and crisis management work. Her transactional prowess was notably demonstrated in her recent assistance to Hasbro in connection with the $500m sale of its Entertainment One film and TV business to Lions Gate Entertainment Corp.Practice head(s):
Faiza Saeed
Key clients
Amazon
Amblin
Cable One
Hasbro
OUTFRONT Media
Quibi
Rogers Communications
The Snyder Family
The Walt Disney Company
Work highlights
- Representing Disney in ESPN’s strategic alliance with PENN Entertainment to launch ESPN BET.
- Represented the Snyder family in the $6.05bn sale of the NFL’s Washington Commanders to a partnership led by Josh Harris.
- Advised Hasbro on the pending $500m sale of its eOne Film and TV Business to Lionsgate.
Media, technology and telecoms > Technology transactions Tier 3
In the technology transactions arena, Cravath, Swaine & Moore LLP represents an extensive roster of clients, ranging from startups to global blue-chip companies. The firm stands out for its expertise in tech sector M&A and is also well-equipped to handle IP matters, tech licensing, and the strategic management of tech assets. David Kappos is reputed for his skill in issues at the intersection of tech and IP and also handles deals relating to life sciences, data security, and fintech. George Schoen, co-heads the global M&A practice and handles acquisitions, sales, and joint ventures for corporate tech clients. Sasha Rosenthal-Larrea assists clients with various tech and IP issues, including data privacy matters and commercial arrangements. All individuals named are stationed in New York. Keith Hallam left the firm in March 2024.Practice head(s):
David Kappos; George Schoen
Other key lawyers:
Key clients
ADT
Airspan
Consolidated Communications Special Committee
Deutsche Börse
DRI
EchoStar Special Committee
IBM
Just Eat Takeaway
Light & Wonder
Micro Focus
OUTFRONT Media
Radius Global
RELX
Robinhood
Route Mobile
WiseTech Global
Work highlights
- Represented Micro Focus in its $6bn acquisition by OpenText.
- Advised the special committee of the board of directors of EchoStar on the estimated $6bn pending combination with DISH Network.
- Represented Deutsche Börse in its EUR3.9bn acquisition of SimCorp and in the combination of ISS and Qontigo’s index business as ISS Stoxx.
Dispute resolution > Appellate: courts of appeals / Appellate: supreme courts (states and federal) Tier 4
Cravath, Swaine & Moore LLP’s appellate practice is closely aligned with its trial practice and the team frequently—though not exclusively—handles appeals for litigation led by the firm at trial level. From its New York base, the group is active in appellate courts across the country, including recent appearances before the Federal, Fifth and Ninth Circuits, as well as in the California, Delaware, and US Supreme Court. Gary Bornstein and Kevin Orsini co-lead an overarching litigation department that also includes Antony Ryan.Practice head(s):
Gary Bornstein; Kevin Orsini
Other key lawyers:
Yonatan Even; Antony Ryan; Lauren Moskowitz
Key clients
Abiomed
Epic Games
Illumina
Louis Dreyfus Company LLC
Morgan Stanley
Novartis Pharmaceuticals Corporation
PG&E Corporation
Robinhood Markets
Root
Tesla CEO Elon Musk
Viatris
The Williams Companies
Work highlights
- Won a Delaware Supreme Court decision for The Williams Companies that affirmed a judgment for Williams totaling more than $600m.
- Won an Eleventh Circuit decision for Robinhood affirming the dismissal of state law claims in the ‘meme stock’ litigation.
- Represented respondents in a US Supreme Court appeal concerning the Copyright Act’s statute of limitations and the ability to recover damages in infringement cases.
Intellectual property > Patents: litigation (full coverage) Tier 4
With expertise in a broad range of technologies and industries, Cravath, Swaine & Moore LLP represents clients in intellectual property disputes and commercial transactions. The group’s breadth of technical knowledge allows it to act for clients in sectors such as consumer products, telecoms and media and entertainment, and it has specialist capabilities litigating patent disputes in the pharmaceuticals, medical devices and biotech fields. Operating out of New York, the IP practice is co-chaired by Keith Hummel, a patent attorney whose patent litigation practice spans a variety of industries, and David Kappos. Another key practitioner is Sharonmoyee Goswami, who focuses on intellectual property, antitrust and litigation relating to science and tech and is experienced acting for clients in multiple patent litigation venues, including the International Trade Commission and the Patent Trial and Appeal Board.Practice head(s):
Keith Hummel; David Kappos
Other key lawyers:
Key clients
Abiomed Inc.
Alarm.com Inc.
Bausch Health Companies Inc.
Biogen MA Inc.
CRISPR Therapeutics
Light & Wonder, Inc.
Tempur Sealy International, Inc.
Truist Bank
Work highlights
- Represented Alarm.com in an appeal case after winning a trial decision in patent infringement litigation brought by Causam Enterprises at the U.S. ITC concerning patents for demand management functionality used to manage electric operating reserves.
- Represented Tempur Sealy and certain of its subsidiaries in patent infringement litigation brought by Purple Innovation.
- Represented Truist Bank in patent infringement litigation brought by USAA concerning patents that relate to remote check deposit for mobile banking.
Finance > Financial services regulation Tier 5
In addition to advising banks and fintechs on federal and state banking regulations and requirements under Dodd-Frank and Basel III and the regulatory requirements of transactions and bank alliances, Cravath, Swaine & Moore LLP‘s Washington DC-based financial regulatory team also supports clients with their crypto-asset dealings. Under the leadership of Jelena McWilliams, who took up the role following David Portilla‘s departure in April 2023, the team is frequently called upon to handle disputes arising out of regulatory issues. The arrival of Jeffrey Dinwoodie, also in April, from JPMorgan Chase’s team, saw the firm augment its finance and crypto-asset regulatory practices, and he is also noted for his experience in supporting industry bodies in relation to policy initiatives.Practice head(s):
Jelena McWilliams
Other key lawyers:
John Buretta; Jeffrey Dinwoodie; Will Giles
Key clients
Citi
Cowen
Dfinity
Global Financial Markets Association
Goldman Sachs
Morgan Stanley
Nomura
Robinhood
Silvergate
Thrivent
Work highlights
- Advised Silvergate in connection with its voluntary self-liquidation and related bank regulatory, investigative, securities and restructuring matters.
- Advised Cowen on regulatory issues in connection with its $1.9b acquisition by Toronto-Dominion Bank.
- Assisted Jefferies with bank regulatory matters in connection with the expansion of its strategic alliance with Sumitomo Mitsui Banking Corporation.
M&A/corporate and commercial > Private equity buyouts: large deals ($500m+) Tier 5
Cravath, Swaine & Moore LLP expanded its New York-based private equity practice in February 2023 with the arrival of leveraged buyout and take-private expert Peter Feist from Weil, Gotshal & Manges LLP, allowing the firm to add funds such as OMERS Private Equity to its growing roster of clients. Feist co-leads the team with David Perkins, whose diverse caseload encompasses M&A and joint ventures as well as structured investments and restructurings. The team, which handles high-value buyouts in sectors such as life sciences, insurance, and infrastructure for the likes of Brookfield and Owl Rock, also benefits from the firm’s broad strengths in corporate and public M&A matters, allowing it to handle a wide range of add-on transactions as well as fund and portfolio company mergers. Further key contacts include cross-border M&A expert Richard Hall and corporate expert Matthew Ploszek.Practice head(s):
Peter Feist; David Perkins
Other key lawyers:
Testimonials
‘Strong commercial sense and deal savvy. Very efficient. ’
‘Peter Feist gave very good practical advice; strong at facilitating a deal. And genuinely pleasant person on the team.’
‘They have a team of extremely high calibre people who have the wherewithal to navigate through exceptionally complicated matters and produce terrific outcomes.’
‘Peter Feist has an incredible understanding of corporate matters, is very intelligent and at the same time has terrific business acumen and is extremely commercial. He brings all these qualities to the fore on each and every transaction he works on to deliver fantastic results for his clients. No matter how difficult the issues he has to contend with or the time constraints he has to work under, he always produces outstanding service and results for his clients.’
Key clients
BDT
Brookfield
ECN Capital
Eurazeo
Hayfin Capital Management
Lindsay Goldberg
OMERS Private Equity
Owl Rock
White Mountains
Work highlights
- Advised Brookfield Renewable Partners on its $8bn acquisition of Westinghouse.
- Represented BDT in connection with its combination with MSD.
- Advised OMERS Private Equity on its acquisition of a majority stake in Knight Commercial.
Lawyer Profiles
Photo | Name | Position | Profile |
---|---|---|---|
Mr Jeffrey Dinwoodie | Jeffrey T. Dinwoodie is a member of the Financial Institutions Group (FIG) Practice.… | View Profile | |
Mr Will Giles | Will C. Giles is of counsel in Cravath’s Corporate Department. He focuses… | View Profile | |
Ms Lillian Grossbard | Lillian S. Grossbard has a broad litigation practice, with a particular focus… | View Profile | |
Ms Jennifer Leete | Jennifer S. Leete is a member of Cravath’s Investigations and Regulatory Enforcement… | View Profile | |
Ms Jelena McWilliams | Jelena McWilliams is Managing Partner of the Washington, D.C. office and Head of… | View Profile | |
Mr Noah Phillips | Noah Joshua Phillips is Co-Chair of Cravath’s Antitrust Practice and previously served… | View Profile | |
Mr Elad Roisman | Elad Roisman is a member of the Corporate Governance and Board Advisory… | View Profile |
Comparative Guides
-
United States: Bribery & Corruption
Published: June 2024
Authors: John D. BurettaMegan Y. LewCristina Urquidi
This country-specific Q&A provides an overview of Bribery & Corruption laws and regulations applicable in United States.
-
United States: Blockchain
Published: November 2023
Authors: David J. KapposD. Scott BennettMichael E. MarianiSasha Rosenthal-LarreaArvind RavichandranRyan J. Patrone
This country-specific Q&A provides an overview of Blockchain laws and regulations applicable in United States.
-
United States: Mergers & Acquisitions
Published: March 2024
Authors: Richard HallDaniel J. Cerqueira
This country-specific Q&A provides an overview of Mergers & Acquisitions laws and regulations applicable in United States.
-
United States: Litigation
Published: July 2024
Authors: Timothy G. Cameron
This country-specific Q&A provides an overview of Litigation laws and regulations applicable in United States.
-
Post-Crispo World
Published: April 2024
Authors: Richard Hall Daniel J. Cerqueira
- Antitrust > Civil litigation/class actions: defense
- Dispute resolution > Financial services litigation
- Dispute resolution > General commercial disputes
- Dispute resolution > M&A litigation: defense
- Dispute resolution > Securities litigation: defense
- Environment > Environment: transactional
- Finance > Capital markets: debt offerings
- Finance > Capital markets: global offerings
- Finance > Commercial lending
- Finance > Fintech
- Labor and employment > Employee benefits, executive compensation and retirement plans: transactional
- M&A/corporate and commercial > M&A: large deals ($1bn+)
- Tax > International tax
- Tax > US taxes: non-contentious
Top Tier Firm Rankings
- Antitrust > Merger control
- Finance > Capital markets: equity offerings
- Finance > Capital markets: high-yield debt offerings
- Media, technology and telecoms > Media and entertainment: litigation
- Media, technology and telecoms > Telecoms and broadcast: transactions
Firm Rankings
- Dispute resolution > Corporate investigations and white-collar criminal defense
- Dispute resolution > Leading trial lawyers
- M&A/corporate and commercial > Shareholder activism
- Media, technology and telecoms > Media and entertainment: transactional
- Media, technology and telecoms > Technology transactions