Cravath, Swaine & Moore Law Firm Profile

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Cravath, Swaine & Moore LLP

  • Designation: New York
  • Head Count: 430
  • Gross Revenues: $614,000,000
  • Revenue Per Lawyer: $1,430,000
  • Profits Per Partner: $3,290,000
  • Year Over Year Change: -2

Cravath, Swaine & Moore is based in New York. In The American Lawyer's 2011 Am Law 100 rankings of U.S. firms based on revenue, the firm placed 44th with $591,000,000 in gross revenue in 2010. In terms of size, the firm placed 78th on the 2011 NLJ 250 rankings, with 495 attorneys. In the 2011 Global 100 survey of firms worldwide, Cravath ranked as the 51st highest grossing law firm. Cravath has an office in London in addition to its New York headquarters. The firm is a general practice firm which divides its practices into seven areas: corporate law; litigation; trusts and estates; tax; international; executive compensation and benefits; and pro bono.

Firm Rankings

Survey Rank Year Over Year Change Description
Am Law 100 52 -2 Gross revenue
Am Law 200 52 -2 Gross revenue
NLJ 250 104 -8 Lawyer head count
The A-List 30 21 Overall excellence
Pro Bono Scorecard 63 22 Pro-bono commitment
Diversity Scorecard 88 -20 Minority head count
Midlevel Associates Survey 111 -27 Job satisfaction
Summer Associates Survey 77 -26 Summer programs

In the News

For Avon, $135M FCPA Settlement Is Just a Start

Sue Reisinger : Corporate Counsel : January 28, 2014

While Avon Products Inc. works to resolve its long-running Foreign Corrupt Practices Act case, its proposed settlement is part of a recent trend in overseas bribery cases.

21st Century Fox Sells German, Italian Units for $9 Billion

Wenxiong Zhang : The Am Law Daily : January 25, 2014

A slew of Am Law and Magic Circle firms advised as 21st Century Fox agreed to offload its pay-television assets in Italy and Germany to British Sky Broadcasting Group in a deal that would provide cash to reignite media mogul Rupert Murdoch's takeover bid for Time Warner.

Wachtell Raids Simpson Thacher for Executive Compensation Expert

Brian Baxter : The Am Law Daily : January 21, 2014

A month after Wachtell, Lipton, Rosen & Katz executive compensation partner Jeremy Goldstein left the venerable Am Law 100 firm to start his own practice, the country's most profitable shop on a profits-per-partner basis looked outside its ranks to find a replacement in Simpson Thacher & Bartlett partner Andrea Wahlquist. She becomes only the fourth lateral partner hire in Wachtell's storied history.

New Deals

MP McQueen : The American Lawyer : January 17, 2014

Reynolds American Inc., maker of Pall Mall and Camel cigarettes, has agreed to buy Lorillard Inc. for $27.4 billion, including debt. If completed, the merger would create a powerful rival to the largest tobacco company in the U.S.

Am Law 100 Trio Advising on Murdoch's Time Warner Bid

Brian Baxter : The Am Law Daily : January 16, 2014

Skadden, Arps, Slate, Meagher & Flom and Hogan Lovells are representing Rupert Murdoch's Twenty-First Century Fox on its $80 billion unsolicited takeover bid for Time Warner, which has rejected the offer. Cravath, Swaine & Moore is advising Time Warner on the matter. All three firms have long histories with the two media giants.

Reynolds Agrees to Buy Lorillard for $27.4 Billion

MP McQueen : The Am Law Daily : January 15, 2014

Jones Day, Cravath Swaine & Moore, Simpson Thacher & Bartlett, Allen & Overy and Kirkland & Ellis all advised on the megadeal that would create a $50 billion tobacco company to rival Altria Group, the holding company of Philip Morris.

Skadden Leads on Banking, Candy Deals

Brian Baxter : The Am Law Daily : January 14, 2014

After outpacing the Am Law 100 pack for transactional work during the first half of 2014, Skadden has stepped up its game in the third quarter by advising Brazil's BTG Pactual Group on its $1.7 billion buy of Italian insurer Generali's Swiss private bank as well as Swiss chocolate maker Lindt & Sprungli on its purchase of Russell Stover Candies for a reported $1.4 billion. Skadden also recently advised on an agreement to save struggling retailer American Apparel.

Abbott Labs Sells Specialty and Generic Business to Mylan

Vinayak Balasubramanian : The Am Law Daily : January 14, 2014

The $5.3 billion all-stock deal would allow Mylan to relocate some of its operations to the Netherlands. Mylan sought legal counsel from Cravath, Swaine & Moore, while Abbott turned to Baker & McKenzie.

The Careerist: Best Firms for the Summer (and After)

Vivia Chen : The Careerist : January 10, 2014

Vault's top law firms for summer programs and associate happiness.

Cadwalader Takes Corporate Inversions to Another Level

Brian Baxter : The Am Law Daily : January 09, 2014

Cadwalader, Wickersham & Taft may have found a way to help more U.S. companies use corporate inversions to lower their tax bills. Salix Pharmaceuticals has retained the firm, as well as Covington & Burling and leading Irish shop A&L Goodbody, for its $2.7 billion acquisition of patents to gastrointestinal drugs owned by an Irish unit of Italy's Cosmo Pharmaceuticals.

White-Collar Crime

: New York Law Journal : January 07, 2014

In this Special Report from the New York Law Journal: "Health Care Fraud: What's Intent Got to Do With It?" "'Newman' Addresses Divisive Insider Trading Question," "Protecting Attorney Proffer Notes From Discovery" and "Failure to Mitigate Damages as a Defense in Mortgage Fraud Cases."

'Newman' Addresses Divisive Insider Trading Question

Benjamin Gruenstein and Jeff Izant : New York Law Journal : January 07, 2014

Benjamin Gruenstein and Jeff Izant of Cravath, Swaine & Moore write: In 'United States v. Newman', the U.S. Court of Appeals for the Second Circuit will likely answer a question that has divided courts in insider trading cases: whether, under the so-called "classical" theory of insider trading, a tippee must have knowledge of the personal benefit the tipper derived from the scheme.

Davis Polk's Big Bet in Hong Kong

Anthony Lin : The Asian Lawyer : January 07, 2014

The Wall Street firm has assembled a dream team, with an eye on China's rising corporate elite. Is the market ready?

Going for the Gold

: Corporate Counsel : January 01, 2014

A luxury jeweler burnishes one its lawyers and finds a GC; and other Moves.

Can't Buy Them Love

Katelyn Polantz : Corporate Counsel : January 01, 2014

Washington firms were far behind the richest firms in profits per partner.

New Deals

Vinayak Balasubramanian : New York Law Journal : January 26, 2014

Private equity firm Apax Partners has agreed to sell its majority stake in Advantage Sales and Marketing to two other private equity firms, Leonard Green & Partners and CVC Capital Partners. Wisconsin Energy Corporation has announced it will buy energy holding company Integrys Energy Group for $9.1 billion, including debt, a deal that would expand the company's geographic base.

The Careerist: Sexiest Law Firm in the World

Vivia Chen : The Careerist : January 25, 2014

Who gets the prize for sex appeal, prestige and verbal complexity in the legal business?

Book Industry Deals Yield Roles for Am Law 100 Trio

Brian Baxter : The Am Law Daily : January 25, 2014

Barnes & Noble, the nation's largest bookstore chain, has turned to longtime outside counsel Cravath, Swaine & Moore to handle the spinoff of its struggling e-book unit Nook Media, while Arnold & Porter is advising Perseus Books Group on its proposed sale to the Hachette Book Group, which has retained Jones Day as the publishing giant ratchets up its fight with Amazon.

Panel Affirms Ex-Client's Award Against Cadwalader

Brendan Pierson : New York Law Journal : January 23, 2014

A unanimous First Department panel affirmed a $17 million award Thursday in favor of a former Cadwalader, Wickersham & Taft client that sued the firm for malpractice.

Am Law 100 Firms Tapped in Wisconsin Energy Deal

Vinayak Balasubramanian : The Am Law Daily : January 23, 2014

Skadden, Cravath and Foley & Lardner all advised on Wisconsin Energy's $9.1 billion cash and stock purchase of Integrys Energy group while Baker Botts and Davis Polk represented the financial advisers.

Transatlantic Trio Make Third Time a Charm for Kentz

Brian Baxter : The Am Law Daily : January 23, 2014

Canadian engineering and construction giant SNC-Lavalin Group has agreed to pay nearly $2 billion to acquire British oil and gas company Kentz Corp., which had rebuffed two other takeover attempts in recent months. Norton Rose Fulbright and a handful of Canadian firms are advising on the deal and another $511 million Canadian tie-up announced Monday.

Panel Affirms Ex-Client's Award Against Cadwalader

Brendan Pierson : New York Law Journal : January 20, 2014

A unanimous First Department panel affirmed a $17 million award Thursday in favor of a former Cadwalader, Wickersham & Taft client that sued the firm for malpractice.

Weekend Reading: Hogan Lovells on North Korea's 'Genocide'

Brian Baxter : The Am Law Daily : January 19, 2014

An Am Law Daily compendium of compelling tales, such as the case for African-American reparations, Drinker Biddle's Native American pro bono work that cost it pro football business and Hogan Lovells' report on the tragedy taking place in North Korea that the world has forgotten.

'Respectful and Measured,' NBA Head Is His Father's Son

Tania Karas : New York Law Journal : January 19, 2014

When it comes to holding firm on tough calls, the National Basketball Association's new commissioner, Adam Silver, made a name for himself long before he stood up to Donald Sterling, the controversial co-owner of the Los Angeles Clippers.

Gibson Dunn, Latham Land Roles on Another Big Shale Deal

Brian Baxter : The Am Law Daily : January 16, 2014

With the shale gas revolution helping the U.S. become the world's largest oil and natural gas producer, more companies are turning to outside firms to advise on M&A deals that consolidate their market share. The Williams Companies, a major pipeline operator, has tapped Gibson, Dunn & Crutcher to advise on a $6 billion deal that would create one of the largest U.S. transporters of oil and gas.

Circuit Upholds Limits on Legal Fees in WTC Settlement

Mark Hamblett : New York Law Journal : January 10, 2014

Southern District Judge Alvin Hellerstein's decision denying plaintiffs' counsel from recovering a contingency attorney fee on a $55 million bonus payment triggered by settlements of some 10,000 lawsuits over exposure to toxic dust at Ground Zero was upheld by a federal appeals court Monday.

Circuit Upholds Limits on Legal Fees in WTC Settlement

Mark Hamblett : New York Law Journal : January 10, 2014

Southern District Judge Alvin Hellerstein's decision denying plaintiffs' counsel from recovering a contingency attorney fee on a $55 million bonus payment triggered by settlements of some 10,000 lawsuits over exposure to toxic dust at Ground Zero was upheld by a federal appeals court Monday.

Circuit Limits Legal Fees in WTC Settlement

Mark Hamblett : New York Law Journal : January 10, 2014

Southern District Judge Alvin Hellerstein's decision denying plaintiffs' counsel from recovering a contingency attorney fee on a $55 million bonus payment triggered by settlements of some 10,000 lawsuits over exposure to toxic dust at Ground Zero was upheld by a federal appeals court Monday.

Going Solo, Magazine Giant Time Inc. Taps Mintz Levin

Brian Baxter : The Am Law Daily : January 09, 2014

With Cravath, Swaine & Moore advising longtime client Time Warner on its spinoff of Time Inc., the nation's leading publisher of consumer magazines turned to Mintz, Levin, Cohn, Ferris, Glovsky and Popeo to guide it through the historic transition.

Davis Polk Helps Tyson Foods Prevail in Big Poultry Duel

Brian Baxter : The Am Law Daily : January 09, 2014

Tyson Foods, one of the country's largest chicken processors, appears poised to best Pilgrim's Pride and its lawyers from Cravath, Swaine & Moore to acquire deli and packaged meat purveyor Hillshire Brands, an offshoot of defunct consumer goods giant Sara Lee Corp.

The Morning Wrap

Andrew Ramonas : Legal Times : January 06, 2014

A round-up of news from ALM affiliated publications and news outlets around the country: General Motors Co. releases the findings of its internal investigation into its ignition-switch recall shortcomings, senior senators strike a deal on veterans' health care, the Senate approves Sylvia Burwell to lead the Department of Health and Human Services and Timothy Massad takes the helm of the U.S. Commodity Futures Trading Commission.

Texas' Top Deals of 2013

Brenda Sapino Jeffreys : Texas Lawyer : January 06, 2014

The following deals, involving at least one Texas-based company, were announced in 2013.

Massad Takes the Helm at the CFTC

Jenna Greene : Legal Times : January 05, 2014

Former Cravath Swaine & Moore corporate partner Timothy Massad was sworn in Thursday as chairman of the U.S. Commodity Futures Trading Commission.

Wasserstein & Co. Buys Back ALM Media

Brian Baxter : The Am Law Daily : January 04, 2014

Nearly seven years after selling ALM Media Properties to private equity-owned British publisher Incisive Media for $630 million, the investment arm of late attorney and financier Bruce Wasserstein is leading a group that has agreed to acquire the legal publishing giant.

Wasserstein & Co. Buys Back ALM Media

Brian Baxter : The Am Law Daily : January 04, 2014

Nearly seven years after selling ALM Media Properties to private equity-owned British publisher Incisive Media for $630 million, the investment arm of late attorney and financier Bruce Wasserstein is leading a group that has agreed to acquire the legal publishing giant.

It's Time for a PTO Director, Hatch Tells Obama

Lisa Shuchman : Corporate Counsel : January 04, 2014

The U.S. Patent and Trademark Office has been without a director for 16 months, and a senior lawmaker is pressuring President Barack Obama to fill the vacancy.

Texas' Top Deals of 2013

Brenda Sapino Jeffreys : Texas Lawyer : January 03, 2014

The following deals, involving at least one Texas-based company, were announced in 2013.

Four Firms Lead as Element Financial Adds PHH Arval

MP McQueen : The Am Law Daily : January 03, 2014

Blakes, Cravath, DLA and Kirkland land advisory roles as Toronto-based Element Financial agrees to buy PHH Corp.'s commercial fleet management unit.

Conspicuous Consumption:

Tom Huddleston Jr. : The American Lawyer : January 01, 2014

EGullet founder Steven Shaw wasn't the only lawyer who ate his way into a new career.

Four Firms Score With Record-Setting Clippers Sale

Brian Baxter : The Am Law Daily : January 30, 2014

Covington & Burling, Greenberg Glusker Fields Claman & Machtinger, Kirkland & Ellis and Proskauer Rose are advising on what could prove to be the most lucrative sale of a professional sports team in U.S. history in former Microsoft CEO Steve Ballmer's proposed $2 billion bid to acquire the National Basketball League's Los Angeles Clippers. But a mammoth antitrust suit looms.

N.Y. Panel Affirms Dismissal of Discovery Motion in Shareholder Derivative Suit

Suevon Lee : Delaware Business Court Insider : January 28, 2014

New York courts should follow Delaware's no-discovery rule once a shareholder plaintiff has made a presuit demand upon a corporate board that is refused, a unanimous panel on the Appellate Division, First Department held last week.

Cravath Helps Brazilian Client Cook Up Meat Merger

Brian Baxter : The Am Law Daily : January 27, 2014

Moving to derail Hillshire Brands' pending $4.3 billion purchase of Pinnacle Foods, Pilgrim's Pride has turned to Cravath, Swaine & Moore to advise on its $6.4 billion bid for the Sara Lee spinoff.

Panel Upholds Citigroup Directors' Rejection of Claim

Brendan Pierson : New York Law Journal : January 23, 2014

A unanimous First Department panel upheld the dismissal of a shareholder derivative lawsuit against more than 20 current and former Citigroup, Inc. executives and directors, including former CEO Charles Prince.

Panel Affirms Dismissal of Discovery Motion in Shareholder Derivative Suit

Suevon Lee : Commercial Litigation Insider : January 23, 2014

New York courts should follow Delaware's no-discovery rule once a shareholder plaintiff has made a pre-suit demand upon a corporate board that is refused, a unanimous panel on the Appellate Division, First Department held Thursday.

Raj Abhyanker's Call for a Lawyers-Only VC Fund

Nathalie Pierrepont : The Recorder : January 22, 2014

A Q&A with the Trademarkia founder.

Judge Dismisses Investor Suit Against Citigroup

Jan Wolfe : The Litigation Daily : January 22, 2014

A Citigroup Inc. shareholder has hit a dead end in a lawsuit alleging that the bank didn't properly investigate its bets on collateralized debt obligations, marking a win for attorneys at Cravath, Paul Weiss and Wachtell.

Asia Deal Digest: May 22, 2014

Anna Zhang : The Asian Lawyer : January 22, 2014

* Allen & Overy guides India's Bharti Airtel on a $2 billion bond issue* Skadden and Davis Polk lead on $1.3 billion Tencent investment in JD.com* Milbank and Latham on a $1.17 billion Indonesian geothermal plant financing

Cravath, Slaughter Help Unilever Slim Down

Brian Baxter : The Am Law Daily : January 22, 2014

Cravath is advising Unilever on the $2.15 billion sale of its pasta sauce business, while Slaughter and May helps the consumer goods giant use the proceeds from that deal to repurchase share rights held by family trusts of company cofounder William Hesketh Lever.

Correction

: New York Law Journal : January 21, 2014

Convocation to Explore Instilling Professional Values

Tania Karas : New York Law Journal : January 20, 2014

The challenges of instilling professional values in the next generation of lawyers during a turbulent time for law schools will take center stage at a May 22 convocation.

GCs, Board Members Rank Their Favorite Firms

Sherry Karabin : Corporate Counsel : January 16, 2014

A trade magazine and consultancy have come out with their rankings, which don't deviate from the usual crop of top law firms.

Kirkland Suffers Swift Defeat in Teva FDA Fight

Ross Todd : The Litigation Daily : January 15, 2014

Less than a week after Teva Pharmaceutical Industries sued the FDA to block competitors from marketing generic versions of its blockbuster multiple sclerosis drug Copaxone, the company's lawyers are back where they started.

BigLaw Defectors, In-House Counsel Fuel Growth at N.J.'s Parker Ibrahim

David Gialanella : New Jersey Law Journal : January 14, 2014

In the aftermath of the last decade's recession, while firms were retrenching, three in-house counsel from JPMorgan Chase started their own shop in New Jersey and went rapidly into expansion mode.

The Score: Ex-Patterson Belknap Partner Parsons to Head Clippers

Brian Baxter : The Am Law Daily : January 09, 2014

As NBA Commissioner Adam Silver pushes Donald Sterling to sell the Los Angeles Clippers, the drama swirling around the team adds new players with ties to Patterson Belknap and Kaye Scholer.

UBS Taps a Barclays Lawyer as US General Counsel

Marlisse Silver Sweeney : Corporate Counsel : January 08, 2014

It's the second high-level defection from the British bank over the past year.

Antitrust Suit Against Amex Goes Forward

Andrew Keshner : New York Law Journal : January 08, 2014

Eastern District Judge Nicholas Garaufis denied American Express's bid for summary judgment in a suit over so-called "anti-steering" provisions that allegedly restrained merchants from steering customers to other credit cards that had lower fees for merchants.

Cadwalader Appeals $17M Malpractice Award Over Proxy Fight

Jan Wolfe : The Litigation Daily : January 06, 2014

The firm was socked with a $17.2 million damages bill this week, after a judge refused to toss legal malpractice claims brought by Washington Redskins owner Daniel Snyder. But Cadwalader's lawyers at Cravath immediately lodged an appeal, signaling that the 3-year-old case may be far from over.

Wachtell, Willkie, Gibson Dunn Forge Sotheby's Peace

Brian Baxter : The Am Law Daily : January 05, 2014

The Am Law 100 trio is part of a half-dozen firms advising on an agreement to end a nasty proxy fight between activist investor Daniel Loeb and the venerable auction house.

D.C. Law Firms Lag Behind the 'Super Rich' from New York

Katelyn Polantz : The National Law Journal : January 05, 2014

The top Washington law firms remained clustered far behind the nation's richest firms last year, according to The American Lawyer.

New York Firms Increase Profits, Reducing Size

Christine Simmons : New York Law Journal : January 02, 2014

Many large New York law firms grew their revenue and profits last year, continuing to pull ahead of the national pack when it comes to financial indicators.

May 2014 Deals & Suits

: Corporate Counsel : January 01, 2014

Amid Sterling Row, Skadden Waits in Wings

Brian Baxter : The Am Law Daily : January 01, 2014

The firm is preparing for a potential court battle with Los Angeles Clippers owner and attorney Donald Sterling.

The Trouble With Nonequity Partners

Michael D. Goldhaber : The American Lawyer : January 30, 2014

Reliance on nonequity partners has boosted the bottom line at Am Law 100 firms—but is it a sustainable business model?

Four Firms Advise on Two Big Breakups

Brian Baxter : The Am Law Daily : January 30, 2014

Wachtell, Cravath, Bryan Cave and Hogan Lovells handle corporate splits at Energizer and Alliant Techsystems.

How a Much-Loved Foodie's Passion Caught Fire at Cravath

Tom Huddleston Jr. : The Am Law Daily : January 29, 2014

Like other lawyers who made a mark in the dining industry, the late Steven Shaw got a taste of his foodie future while dining out at clients' expense.

Am Law 100 Analysis: The Super Rich Get Richer

Aric Press : The American Lawyer : January 28, 2014

It was a middling year for most big firms, but the top 20 pulled away from the pack.

NBA Probe Could Lead to More Legal Woes for Clippers Owner

Ross Todd : The Am Law Daily : January 28, 2014

NBA commissioner Adam Silver, a former Cravath associate, has launched an internal investigation into L.A. Clippers owner Donald Sterling's alleged racist comments.

Asia E-Discovery Remains Murky

Mark Gerlach : Law Technology News : January 28, 2014

Inconsistent regulations create headaches for e-discovery efforts in Asian countries

Half-Dozen Firms Dig Into Big Canadian Mining Deal

Brian Baxter : The Am Law Daily : January 23, 2014

Amid talk about a pharma M&A boom, the global mining industry is on the verge of its own round of consolidation.

Midsized Real Estate Firm to Offer Big Law Salaries

Christine Simmons : New York Law Journal : January 21, 2014

Duval & Stachenfeld, a 66-attorney real estate firm, is more than doubling its salary for starting associates to $175,000—above the large law firm standard—to compete with its rivals in attracting and retaining top talent.

Scheindlin Preserves Apartheid-Era Suit Against Companies

Mark Hamblett : New York Law Journal : January 21, 2014

After a federal appellate court all but instructed her to dismiss the case, Southern District Judge Shira Scheindlin has kept alive a lawsuit accusing Ford, IBM and other companies of abusing human rights by doing business with South Africa's apartheid regime.

Foley, Quarles Help Keep Bucks in Wisconsin

Brian Baxter : The Am Law Daily : January 17, 2014

The Milwaukee-based Am Law 200 firms and Paul Weiss advise on the record-setting sale of the NBA's Milwaukee Bucks.

Scheindlin Defies Second Circuit in Alien Tort Case

Jan Wolfe : The Litigation Daily : January 17, 2014

Manhattan U.S. District Judge Shira Scheindlin ruled that South African apartheid victims can seek compensation from three Fortune 100 companies under the Alien Tort Statute, directly contradicting a Second Circuit ruling in another ATS case. 

Diamonds, and a New GC, Are Tiffany's Best Friend

Sue Reisinger : Corporate Counsel : January 14, 2014

The luxury goods company promotes from within an associate GC who came from Cravath in 2012.

Dewey: Don't Let it Happen to Your Law Firm

Donna Boehme : The National Law Journal : January 14, 2014

Dewey & LeBoeuf's collapse offers a grim example to other major law firms about failed oversight.

Credit Card Companies Narrowly Escape Antitrust Class Action

Jan Wolfe : The Litigation Daily : January 10, 2014

Somewhat grudgingly, a federal judge in New York tossed claims that American Express, Discover and other companies used meetings organized by lawyers at Wilmer and Ballard Spahr to cook up a conspiracy to preempt consumer class actions.

Goodwin Takes Another Corporate Partner From Wilson Sonsini

Nathalie Pierrepont : The Recorder : January 08, 2014

Rezwan Pavri had worked on Twitter IPO.

Time Dwindles For Patent Litigation Reform Bill

Todd Ruger : Legal Times : January 08, 2014

The Senate Judiciary Committee needs to approve a patent reform bill this week—with broad bipartisan support—to give it a good chance of becoming law during this Congress, a former top intellectual property adviser to the committee said.

Teva Asks High Court to Block Generics Ahead of Copaxone Ruling

Jan Wolfe : The Litigation Daily : January 07, 2014

could usher in a new era of deference to trial judges in patent cases. But Teva's lawyers reminded the Supreme Court on Monday that there's real money at stake in the case as well.

Apple, Ford, GE Team Up for Patent Lawsuit Reform

Andrew Ramonas : Legal Times : January 03, 2014

Fearing upheaval in the U.S. patent system, Apple Inc., Ford Motor Co., General Electric Co. and other major companies have united to influence patent lawsuit reform in Congress, tapping former U.S. Patent and Trademark Office director David Kappos for advice.

Apple, Ford, GE Team Up for Patent Lawsuit Reform

Andrew Ramonas : Legal Times : January 03, 2014

Fearing upheaval in the U.S. patent system, Apple Inc., Ford Motor Co., General Electric Co. and other major companies have united to influence patent lawsuit reform in Congress, tapping former U.S. Patent and Trademark Office director David Kappos for advice.

Apple, Ford, GE Team Up for Patent Lawsuit Reform

Andrew Ramonas : Corporate Counsel : January 03, 2014

Fearing upheaval in the U.S. patent system, Apple Inc., Ford Motor Co., General Electric Co. and others have formed the Partnership for American Innovation to influence patent reform in Congress.

Does the Government Need More Ammo to Fight Patent Trolls?

Andrew Ramonas : Corporate Counsel : January 01, 2014

Current and former senior members of the executive and judicial branches say the courts and the Federal Trade Commission may already have the tools to fight patent trolls.

Big Suits

Jan Wolfe, Ross Todd, and Rebekah Mintzer : The American Lawyer : January 31, 2014

Motorola v. AU Optronics; In re Bank of American RMBS litigation; Vichi v. Konicklijke Philips; and more

Big Deals

David Marcus : The American Lawyer : January 31, 2014

Comcast/Time Warner Cable; Actavis / Forest Labs; Facebook / WhatsApp; Santander Consumer USA IPO; Carlyle / J&J Diagnostics Unit

Dewey's Cautionary Tale of Culture and Compliance

Donna Boehme : Corporate Counsel : January 25, 2014

What can in-house legal departments learn from the demise of Dewey & LeBoeuf to better inform their selection of outside counsel?

Skadden to Settle Fletcher Bankruptcy Case for $4.25 Million

Tom Huddleston Jr. : The Am Law Daily : January 24, 2014

While disputing a court-appointed trustee's claim that it had not "adequately" protected former client Alphonse "Buddy" Fletcher Jr.'s hedge funds and those who invested in them, Skadden, Arps, Slate, Meagher & Flom has agreed to pay $4.25 million to avoid any potential legal claims stemming from the bankruptcy of one of those funds.

Credit Suisse Settles MBS Claims With FHFA for $885 Million

Jan Wolfe : The Litigation Daily : January 21, 2014

The odds of seeing the Federal Housing Finance Agency go to trial this year in its litigation campaign against Wall Street got a lot slimmer on Friday, when Credit Suisse AG became the latest defendant to throw in the towel.

Skadden Lands Roles on Two Insurance Sector Deals

Tom Huddleston Jr. : The Am Law Daily : January 21, 2014

The firm is taking the lead for buyout firm TPG on its $1.5 billion purchase of The Warranty Group from Onex Corporation and representing insurance company Wilton Re Holding Ltd. in connection with its $1.8 billion sale to the Canada Pension Plan Investment Board (CPPIB). Kaye Scholer is advising Warranty and Onex in the first deal, while Debevoise & Plimpton is representing CPPIB in the latter transaction. Sutherland Asbill also landed a role advising Wilton Re.

The Am Law 100, the Early Numbers: Elite New York Firms Pull Away

Julie Triedman : The Am Law Daily : January 20, 2014

A year after making only slight financial gains, a group of New York–based firms made up of some of The Am Law 100's most profitable members put even more distance between itself and the rest of the pack in 2013, according to The American Lawyer's reporting.

Cadwalader, Simpson Advise on JP Morgan Unit Sale

Tom Huddleston Jr. : The Am Law Daily : January 19, 2014

J.P. Morgan Chase is selling its physical commodities trading unit to Mercuria Energy Group for $3.5 billion. Cadwalader is advising Mercuria on the deal, while J.P. Morgan is being represented by Simpson Thacher.

Government's Insider Trading Net Snags Simpson Thacher Clerk

Brian Baxter : The Am Law Daily : January 19, 2014

In the latest insider trading probe to touch an Am Law 100 firm, the Securities and Exchange Commission and federal prosecutors in New Jersey have charged Steven Metro, a managing clerk at Simpson Thacher & Bartlett, along with a Morgan Stanley stockbroker, with taking part in a $5.6 million insider trading scheme that involves some of Simpson Thacher's star private equity clients.

Government's Insider Trading Net Snags Simpson Thacher Clerk

Brian Baxter : The Am Law Daily : January 19, 2014

The SEC and federal prosecutors in New Jersey charged Steven Metro, a managing clerk at Simpson Thacher & Bartlett, along with a Morgan Stanley stockbroker, with taking part in a $5.6 million insider trading scheme involving some of Simpson Thacher's star private equity clients.

Cheers to Antitrust Work in Contested Glass Company Merger

Jenna Greene : Legal Times : January 18, 2014

With less than a month before trial, two glass makers and the Federal Trade Commission are on the verge of settling the agency's suit challenging the companies' pending $1.7 billion merger—a transaction that's involved dozens of antitrust lawyers from more than 20 firms.

Jenner, Debevoise Help Steer Hertz Spin-Off

Tom Huddleston Jr. : The Am Law Daily : January 18, 2014

The car rental company is spinning off its equipment rental business to shareholders in a transaction valued at $2.5 billion.

Mineral Company Taps Cravath for Big M&A Buy

Brian Baxter : The Am Law Daily : January 10, 2014

Cravath, Swaine & Moore is advising Minerals Technologies on its $1.74 billion acquisition of Amcol International, which is being advised by Kirkland & Ellis. The offer by Minerals Technologies topped a rival bid made last month by French specialty materials maker Imerys and its lawyers from Skadden and Fried Frank.

Recent Rulings Reflect Effect of Designating Sole RMBS Judge

Suevon Lee : Commercial Litigation Insider : January 06, 2014

A recent decision by a Manhattan Supreme Court judge to allow claims by mortgage-backed securities certificate holders to move forward should signal to New York litigants that an organized effort to establish a uniform body of law in this area is well underway.

Court Sides With Abducting Parent on Child's Return

Marcia Coyle : Supreme Court Brief : January 05, 2014

The U.S. Supreme Court, increasingly drawn into disputes over international child abductions, ruled on Wednesday that a treaty's one-year period to demand return of a child cannot be extended because the abducting parent concealed the child's location.

The Am Law 100, the Early Numbers: Cadwalader Revenues Tick Up While PPP Drops

Julie Triedman and Christine Simmons : The Am Law Daily : January 03, 2014

Attributing the dip to delayed payments and to market volatility, Cadwalader posted a slight decline in profitability last year. But revenues were up for a third straight year.

Big Deals

David Marcus : The American Lawyer : January 01, 2014

Suntory/Beam; Google/Nest Labs; Lenovo/IBM low-power server business/Motorola Mobility

Chancery Dismisses With Prejudice Claims Against Electronics Giants

Jeff Mordock : Delaware Business Court Insider : January 26, 2014

The Delaware Court of Chancery has dismissed with prejudice a fraud and misrepresentation lawsuit filed by Italian businessman Carlo Vichi, who provided financing to fund a joint venture between the world's two largest electronics companies, Philips and LG Electronics. In the 183-page opinion, the court concluded that the plaintiff failed to prove his claims under either Delaware or Italian law.

Litigation

: New York Law Journal : January 24, 2014

In this Special Report from the New York Law Journal: "Analyzing the Power to Tax Internet Sales," "Extraterritorial Reach of White-Collar Criminal Statutes," "Product Design Liability Outside the Chain of Distribution?" and "Question Will Linger After En Banc Review of 'Lighting Ballast.'"

Extraterritorial Reach of White-Collar Criminal Statutes

Benjamin Gruenstein and Alan Guy : New York Law Journal : January 24, 2014

Benjamin Gruenstein and Alan Guy of Cravath, Swaine & Moore write: It remains to be seen whether the Second Circuit's affirmation of 'Bowman' in 'Vilar' will place a limit on the class of criminal laws to which 'Morrison' will apply. The potential impact of 'Vilar' on several criminal laws familiar to white-collar practitioners is analyzed herein.

Law Firms Back Narrow Right of Court Access in Delaware Appeal

Ross Todd : The Litigation Daily : January 24, 2014

Two dozen major law firms came together on Monday to send an unlikely message to the U.S. Supreme Court: It's time to clamp down on open access to government.

Patent Bar Underwhelmed by Obama's Reform Initiative

Todd Ruger : The National Law Journal : January 24, 2014

The Obama administration last week expanded its effort to improve the patent system and curb abusive legislation, but intellectual property lawyers said the initiative's limited scope suggested that any major reforms must come from Congress.

IP Implications and Opportunities in Big Data

David J. Kappos : New York Law Journal : January 21, 2014

David J. Kappos, a partner at Cravath, Swaine & Moore, writes: Capturing and building upon intra-organizational innovation, surveying patterns of innovation in the surrounding field, and understanding the changing IP legal landscape will put an organization in the best position to capitalize on developments in big data.

Corrections

: New York Law Journal : January 19, 2014

Bonuses Spread to Associates at Midsize and Small Firms

Christine Simmons : New York Law Journal : January 19, 2014

Associate bonuses are no longer confined to large law firms. Midsize firms and boutiques say they are increasingly using individualized merit pay paired with incentive packages to retain and reward their most talented lawyers.

S&C Knocks Out $500 Million Fraud Suit Against Philips

Jan Wolfe : The Litigation Daily : January 19, 2014

A 91-year-old Italian mogul's $500 million fraud case against Philips spanned seven years and implicated the laws of at least four nations. Now, thanks to Sullivan & Cromwell and a Delaware judge, the case may finally be kaput.

Three Firms Advise on Water Chemicals Deal

Tom Huddleston Jr. : The Am Law Daily : January 18, 2014

Cravath and Squire Sanders are representing chemicals manufacturer Ashland on the sale of its water technologies unit to buyout firm Clayton, Dubilier & Rice in a deal worth roughly $1.8 billion. Debevoise is advising CD&R on the deal.

Court Tosses Claim of Malpractice Against Cadwalader

Brendan Pierson : New York Law Journal : January 18, 2014

Cadwalader Wickersham & Taft has won dismissal of a claim that it committed malpractice by failing to give appropriate advice to a Japanese asset management firm about a mortgage securitization, though it must still face a claim that it failed to do due diligence.

Lateral hiring hurts law firms in the long run, law professors conclude

Meredith Hobbs : Daily Report : January 14, 2014

In these slow-to-no-growth times of sluggish demand for legal services, AmLaw 200 firms pin their hopes on lateral partners to boost revenue and increase market share.

Court Tosses Claim of Malpractice Against Cadwalader

Brendan Pierson : New York Law Journal : January 14, 2014

Cadwalader Wickersham & Taft has won dismissal of a claim that it committed malpractice by failing to give appropriate advice to a Japanese asset management firm about a mortgage securitization, though it must still face a claim that it failed to do due diligence.

Am Law Firms Feast on Comcast's Big Time Warner Buy

Tom Huddleston Jr. : The Am Law Daily : January 13, 2014

Davis Polk and Willkie are advising Comcast, which announced Thursday that it has reached an agreement to buy Time Warner Cable in an all-stock transaction valued at roughly $67 billion, including some $21.8 billion in assumed debt. Paul Weiss and Skadden are representing Time Warner in the matter, and Simpson Thacher has also landed a role.

Cadwalader Faces Narrowed Malpractice Claim Over Nomura Advice

Jan Wolfe : The Litigation Daily : January 13, 2014

With a long-awaited trial on the horizon, Cadwalader, Wickersham & Taft persuaded an appeals court to trim a $70 million malpractice suit brought by former client Nomura Asset Capital Corp., a sponsor of mortgage-backed securities.

Former PTO Director Urges Caution on Patent Reform

Drew Carroll : The Recorder : January 12, 2014

In an op-ed, former PTO Director David Kappos argues the so-called consumer stay provision could be a "get out of jail free card" for infringers.

The U.K. Deferred Prosecution Agreement Arrives

John Buretta : The National Law Journal : January 12, 2014

For years many prosecutors in the United Kingdom wished they could use U.S.-style deferred prosecution agreements (DPAs) to prosecute corporate crime. That wish is now a reality.

Cementing a $2.7 Billion Deal

Brenda Sapino Jeffreys : Texas Lawyer : January 03, 2014

Frederick Anderson, vice president, general counsel and secretary of Texas Industries, turned to Wachtell, Lipton, Rosen & Katz for the Dallas company's pending acquisition by Martin Marietta Materials in a deal valued at about $2.7 billion.

New York Sees Growth in Partner Promotions

Christine Simmons : New York Law Journal : January 03, 2014

A survey of New York's largest firms shows a slight uptick in the number of lawyers promoted to partner last year. The number of new partners firmwide at remained almost even from the number in 2012.

The Careerist: Don't Look for Absolution in Law

Vivia Chen : The Careerist : January 03, 2014

News about fabulist Stephen Glass, the English Maiden, and Dilworth's new chairman.

In-House Counsel Profile: Accenture's Julie Sweet

Lisa Holton : The National Law Journal : January 03, 2014

Julie Sweet manages an international legal department of 1,500, including 470 lawyers. More than 40 percent of the attorneys are based in North America.

The Lateral All-Stars

Hillary Flynn, Tom Brennan, Chris Johnson and Jan Wolfe : The American Lawyer : January 03, 2014

The most high-profile lateral partner moves of 2013.

Is Reliance on Lateral Hiring Destabilizing Firms?

William Henderson and Christopher Zorn : The American Lawyer : January 03, 2014

More than ever, firms look to laterals to boost profitability. But the data shows that it's not working.

Paul Hastings Team Helps Ink $750 Million Sale of Accelrys

Chelsea Allison : The Recorder : January 30, 2014

New Deals

: The American Lawyer : January 30, 2014

Two years after the collapse of its attempted takeover of rival Vulcan Materials, Martin Marietta Materials said Tuesday it will pay $2.7 billion to acquire Dallas-based cement-maker Texas Industries. Also, China's Lenovo Group has agreed to acquire the IBM's low-end server division for $2.3 billion.

Asia Deal Digest: January 30, 2014

Anna Zhang : The Asian Lawyer : January 30, 2014

* Stephenson Harwood guides a Vietnamese budget airline in for a $9 billion jet order* Weil advises Lenovo and Cleary guides Google on their $2.9 billion smartphone deal* Cleary has its turn acting for Lenovo on its $2.3 billion acquisition of IBM's low-end server business