Sullivan & Cromwell’s securities litigation practice is renowned for providing superior legal representation in the highest-profile, most complex securities litigation matters before courts, arbitration panels and regulators worldwide. The Firm has earned the trust of some of the world’s most demanding clients, who repeatedly turn to S&C to represent them in their most challenging high-stakes matters.
S&C’s securities litigators are among the most well respected in the legal profession by courts, regulators and adversaries alike. They are frequently called upon to serve in prominent government positions and have been fundamental in the evolution of the banking and securities laws of the United States. Leadership roles include service as the Former Chief Counsel of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, a primary drafter of the Private Securities Litigation Reform Act of 1995 and the author of the Sarbanes-Oxley Deskbook, a three-volume guide hailed by Fortune Magazine as “the bible for securities lawyers.”
The Firm’s securities litigation practice has been top-ranked by Chambers USA in its last five consecutive editions, and the Firm’s litigators are widely recognized as leaders in the securities litigation field by independent rankings and prominent legal media, including Chambers USA, The International Who’s Who of Business Lawyers, Lawdragon, The Best Lawyers in America, The Legal 500 US and New York Super Lawyers.
S&C’s securities litigators have exceptional depth of expertise representing clients in high-profile matters including:
The Firm regularly defends some of the world’s leading corporations and financial institutions in securities class action or other complex litigation. We are representing a number of financial institutions and other clients in matters arising out of the subprime lending crisis, including many non-public investigations of events in the subprime securitization market. S&C lawyers also represent their clients in investigations and enforcement actions brought by the SEC or other regulators, which may be concurrent with private litigation. These investigations and lawsuits often involve allegations of violations of the federal securities laws, such as allegations of false or misleading disclosures to shareholders, insider trading and other types of financial fraud.
S&C has also successfully represented corporations in litigation relating to M&A transactions, including shareholder derivative and class action litigation arising out of corporate control disputes. Our securities litigation practice is actively coordinated among our four U.S. offices and also in London where we are one of very few U.S. firms to have an active and established U.S. law litigation practice representing our U.S. and non-U.S. clients.
The Firm’s securities litigators represent many of the world’s leading business and financial enterprises, boards of directors and individual clients, and other participants in the securities industries in the highest-profile matters, as well as in many representations that have not become public.
The Firm’s financial institution clients include AIG, AmSouth Bancorporation, Archipelago Holdings, Bank of America, The Bank of New York Mellon, Barclays, Goldman Sachs, JPMorgan Chase, KPMG UK, Morgan Stanley, New York Community Bancorp, Regions Financial, Relational Investors, Thomas Weisel Partners, UBS, Unum and Van der Moolen. Other clients include leading corporations such as Amgen, BP, CA, Cablevision, Corporación J.R. Lindley, Digital Insight Corporation, j2 Global Communications, Oxford Health Plans, Koninklijke Philips Electronics, Microsoft Corporation, Softbank, Swift Transportation and VeriFone.
Recent Securities Litigation Highlights
S&C’s securities litigators have a proven track record in bet-the-company securities litigation matters. Recent highlights include the following:
“[Sullivan & Cromwell] was right on the money last summer when [the Firm] asked Manhattan federal district court judge Harold Baer Jr. to dismiss suits by hedge funds alleging fraud against Porsche for its alleged manipulation of Volkswagen’s stock price.” The article continued, “The hedge funds asserted that they lost about $2.5 billion in swap deals based on Volkswagen’s share price; [S&C] argued that the U.S. Supreme Court’s ruling in Morrison v. National Australia Bank precluded the hedge funds’ suits because their claims involved the alleged manipulation of a foreign company’s stock traded on a foreign exchange . . . . [S&C’s] Robert Giuffra Jr., who argued for Porsche at the Dec. 7 hearing on the motion to dismiss, [noted that] Judge Baer’s ruling cuts off what might have been a significant exception to the Morrison ruling.”
Other notable securities litigation highlights include:
5.0/5.0 by a Partner on 05/18/10
5.0/5.0 by a Managing Partner on 11/06/11
5.0/5.0 by a Partner on 11/28/09
5.0/5.0 by a Partner on 11/07/11
Sam Seymour is a top-tier White-Collar/Government Investigations defense lawyer and is recognized widekly as such by his peers. Read more
Sam Seymour is a top-tier White-Collar/Government Investigations defense lawyer and is recognized widekly as such by his peers.
5.0/5.0 by a Partner on 05/12/10
5.0/5.0 by a Partner on 02/12/16
5.0/5.0 by a Member on 05/10/10
5.0/5.0 by a Sole Practitioner on 05/18/10
5.0/5.0 by a Partner on 05/07/10
Karen is one of the finest and most ethical lawyers that I know. She is a leader and is widely admired in the bar. Read more
Karen is one of the finest and most ethical lawyers that I know. She is a leader and is widely admired in the bar.
5.0/5.0 by a Associate on 05/19/13
5.0/5.0 on 09/01/14
4.8/5.0 on 03/06/12
Sterling attorney. Cheryl has exceedingly good instincts, great process and communications skills and the granularity, focus and attention to detail... Read more
Sterling attorney. Cheryl has exceedingly good instincts, great process and communications skills and the granularity, focus and attention to detail required to ensure positive outcomes in virtually any circumstance.
4.3/5.0 on 08/17/10
4.0/5.0 on 05/15/11
2.3/5.0 on 09/15/09
Unfortunately he seemed unwilling to involve us in the progression of our case. Non communicative. He presented as "superior" and that show... Read more
Unfortunately he seemed unwilling to involve us in the progression of our case. Non communicative. He presented as "superior" and that show of conceit irritated the court and other litigants. We would have been successful I'm sure without the posturing. He did have a good grasp on all the intricacies of our arguments and a fine vocabulary!
5.0/5.0 on 10/24/10
5.0/5.0 on 05/25/10
5.0/5.0 on 02/08/10
4.5/5.0 on 08/17/10
4.3/5.0 on 02/08/10
Sullivan & Cromwell is committed to fostering a diverse and inclusive work environment. We believe that diversity is vital to the Firm’s ability to provide our clients with the highest level of service. Accordingly, the Firm’s culture and policies value the unique abilities and perspectives of every individual and support diversity in its broadest sense, including race, gender, ethnicity, sexual orientation, gender identity, gender expression, disability and religious affiliation.
The Firm’s Diversity Committee, which is charged with assisting in the development of a diverse and inclusive workforce, is comprised of lawyers who hold positions of leadership and influence within the Firm. A member of the Firm’s Management Committee co-chairs the Diversity Committee. Other members of the Diversity Committee include the Firm’s senior chairman, practice group managing partners, hiring partners, assigning partners, chairs of the Firm’s associate affinity networks, and chairs of the Women’s Initiative Committee. The Firm also has a Diversity Management Department (“DMD”), which is charged with developing, implementing and coordinating the Firm’s diversity and inclusion initiatives, events and programs. Realizing the importance of an integrated approach, the DMD works closely with our Recruiting, Professional Development and Legal Personnel Departments to monitor the effectiveness of our extensive diversity initiatives and programs to further the Firm’s mission.
This ongoing commitment has led to great results, including the increased diversity of our partnership. As of January 1, 2013, the Firm had elected thirty-nine partners worldwide in the prior six years; of these thirty-nine partners, thirteen are women, eleven are minorities, and one is openly gay.
In its most recent rankings, Vault listed S&C as among the “20 Best Law Firms for LGBT Diversity.” In addition, MultiCultural Law magazine has named S&C to its annual lists of the “Top 100 Law Firms for Women” and “Top 100 Law Firms for Diversity” for several years, including most recently in 2012. Click here for Diversity Recognitions.
In addition, our lawyers have diverse backgrounds; they speak over 30 languages fluently and they come from approximately 40 different countries and 150 different law schools.