Todd Fishman > A&O Shearman > New York, United States > Lawyer Profile

A&O Shearman
599 LEXINGTON AVENUE
NEW YORK, NY 10022-6069
NEW YORK
United States

Work Department

Litigation & lnvestigations

Position

Partner

Career

Todd has thirty years of experience focusing on the defense of antitrust, commodities markets and securities investigations and complex class actions.

He represents companies and individuals in federal and state courts throughout the country and in proceedings before the Department of Justice, Securities and Exchange Commission, Commodity Futures Trading Commission, Federal Reserve Board, Financial Industry Regulatory Authority and state attorneys general in matters concerning accounting fraud, securities fraud and financial reporting, commodities fraud and manipulation, antitrust and competition matters and corrupt practices and money laundering.

For ten years, Todd served as defense counsel for the former chairman and chief executive officer of Lehman Brothers in government investigations and multiple other proceedings arising out of the firm’s bankruptcy filing in September 2008. Todd also has extensive experience representing financial services clients in cross-border enforcement investigations and litigation.

In addition, Todd has represented clients in significant antitrust matters. He frequently represents clients in government investigations and civil litigation involving the intersection of antitrust and the financial markets. In recent years he has represented global financial services firms in DOJ and regulatory investigations and multidistrict class action proceedings relating to alleged manipulation and collusion in the markets for credit default swaps, CDS indices, precious metals and U.S. Treasury instruments. In addition, he represented Toys ‘R’ Us, Inc. in administrative proceedings before the Federal Trade Commission, including at trial and on appeal to the Seventh Circuit Court of Appeals.

Todd also has a focus on the crypto and digital assets space. He is representing a large cryptocurrency derivatives trading platform in a long-running Southern District of New York class action litigation alleging product offering and exchange trading practices in violation of the Commodity Exchange Act and U.S. and state securities laws. He also regularly comments on enforcement trends and disruptive trading practices in digital asset markets.

Prior to joining the firm, Todd served as a law clerk for the Honorable William H. Pauley III, United States District Judge, Southern District of New York.

Todd is a co-author of the Criminal Antitrust Enforcement chapter in the leading treatise White Collar Crime: Business and Regulatory Offenses. Todd also served as a member of the New York City Bar’s Securities Litigation Committee from 2014 to 2018. He is recognized by Legal 500 as “knowledgeable and great to work with” in its Dispute Resolution category (corporate investigations as well as international litigation) and by Super Lawyers (New York Metro) for antitrust litigation.

Memberships

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Lawyer Rankings

United States > Antitrust > Civil litigation/class actions: defense

A&O Shearman offers a standout antitrust capability in the financial services sector, leveraging its transatlantic capabilities to advise domestic and international banks and financial institutions on high-stakes class actions concerning securities and financial trading markets, price-fixing allegations, and monopolization claims. David Higbee, in Washington DC, co-heads the firm’s global antitrust offering and leverages his agency experience from the Antitrust Division to represent clients in agency-facing civil litigation matters, including defending clients before the FTC and the DOJ. Senior partner Adam Hakki represents leading banks in trading market class actions from the firm’s New York office; the duo jointly oversees the practice. Litigator Todd Stenerson represents both plaintiffs and defendants from the automotive, retail, and healthcare sectors in multidistrict litigations; Stenerson also handles investigations and arbitrations. In Dallas, Rachel Mossman Zieminski takes point on merger challenges in the aviation sector. Following the 2024 combination of Shearman and Allen & Overy LLP, the team now also includes Elaine Johnston, based in New York, who has a broad practice covering the full range of contentious and non-contentious antitrust issues across a range of industries; notably, Johnston recently represented Merz Pharmaceuticals in a class action concerning generic patent settlements. She works alongside the Washington DC-based Noah Brumfield, who takes point on antitrust matters in the chemicals, life sciences, and tech industries; the latter is a recent area of increased activity for the team. Another key member of the team is Todd Fishman, in New York, an experienced litigator with significant expertise in cross-border matters; Fishman is the key contact for clients in the financial services industry.