Jay Tambe advises clients on litigation concerning securities, derivatives, and other financial products including credit default swaps and collateralized debt obligations. Jay also is experienced in securities class action litigation and often represents non-U.S. issuers. He frequently deals with cross-border issues and is well-versed in navigating international discovery and judgment enforcement. He has broad litigation experience under federal and state consumer protection and disclosure statutes.
Jay has successfully obtained dismissal of claims involving CDOs in the New York state and federal courts. See SNS Bank N.A. v. Citibank, et al., No. 601989/02, slip op. (Sup. Ct. N.Y. Cty. July 31, 2003), aff'd 7 A.D.3d 352 (1st Dept. 2004); see also Banco Espirito Santo de Investimento v. Citibank, 2003 WL 23018888 (S.D.N.Y. Dec. 23, 2003), aff'd 110 F. Appx. 191 (2d Cir. Oct. 6, 2004). He is currently representing Lehman Bros. Holdings, Inc. and its affiliated debtors in various derivatives litigation and prelitigation matters as well as in the litigation against Barclays Capital, Inc. In 2009, Jay led the team that prevailed in the very first appeal before ISDA's external review panel: In re Cemex, S.A.B. de C.V.
Jay is co-leader of the Firm's Financial Institutions Litigation & Regulation Practice. He routinely provides prelitigation advice on documentation and risk mitigation concerning CDOs, swaps, and other derivatives. Well before the current credit crisis, Jay advised clients about the risks of CDO litigation and worked with them to review documentation and mitigate litigation risks. He is a frequent speaker on CDO and derivatives litigation topics.
Honors & Distinctions
Chambers USA Leader in Their Field (2013 and 2014) P.R.I.M.E. Finance - Complex Financial Products Expert