Practice Areas

Securities

Former SEC Lawyer Speaks Out on Agency's Failings

By Susan Beck |

An investigation of the SEC's case against Goldman Sachs revealed James Kidney as a rare voice willing to criticize his own agency. After a retirement speech last month that made waves on Wall Street and in Washington, Kidney elaborated on his concerns in an extensive interview.

U.S. District Judge Thomas Griesa

Citing SCOTUS, Judge Revives Madoff Feeder Fund Claims

By Jan Wolfe |

Predictions that the Supreme Court's ruling in Chadbourne & Parke v. Troice would affect Bernie Madoff litigation proved correct this week, when a judge revived claims against one of Madoff's so-called feeder funds, Tremont Group.

Sidley Austin's Peter Keisler

Sidley Dents SEC's 'Conflict Minerals' Rule in D.C. Circuit

By Julie Triedman |

In the latest legal assault on government regulations promulgated under Dodd-Frank, the court ruled that the SEC can't force a company that uses minerals from the Democratic Republic of Congo "to confess blood on its hands."

The Verizon Headquarters at Manhattan - New York City. July 12, 2012. Credit: Bjoertvedt. (PUBLIC DOMAIN - WIKIMEDIA COMMONS).

Whistleblower Barred from Double-Dipping Against Verizon

By Jan Wolfe |

An appeals court has tossed a False Claims Act case against Verizon Communications Inc., ruling that the suit is barred by an earlier case in which the same whistleblower netted a big settlement. Wilmer Hale Cutler Pickering Hale and Dorr advised Verizon.

Joel Laitman

Plaintiffs Cry Foul in Credit Suisse Securities Class Action

By Julie Triedman |

When damning internal emails were unsealed last month in a securities suit against Credit Suisse, The New York Times wasn't the only one who took notice. Plaintiffs lawyers pursuing a separate mortgage-backed securities class action also snapped to attention, and on Monday they accused Credit Suisse of failing to disclose the documents in their own case.

SEC Records Reveal Divisions over Goldman Sachs Probe

By Susan Beck |

In the Abacus case, the Securities and Exchange Commission secured a $550 million settlement from Goldman and a civil fraud verdict against former Goldman VP Fabrice Tourre. But one senior SEC lawyer thought the agency wasn't aggressive enough, newly released transcripts show.

Stephen Kohn

Plaintiffs Firm Accuses KBR of Silencing Whistleblowers

By Jan Wolfe |

Thanks to some aggressive litigating by Kohn, Kohn & Colapinto, regulators and legislators are reportedly looking into whether military contractor KBR Inc. silenced whistleblowing by requiring employees to sign confidentiality agreements.

Bernie Madoff, before the fall.

Madoff Feeder Fund Tremont Group Dodges Investor Suit

By Jan Wolfe |

The ruling, which also dismisses claims against Tremont parents Oppenheimer and Mass Mutual, is a loss for attorneys at Cotchett, Pitre & McCarthy, who based their complaint partly on an exclusive jailhouse meeting with Madoff in 2009.

U.S. District Judge Paul Gardephe

News Corp, Murdoch Beat Investor Claims Over Hacking Scandal

By Jan Wolfe |

With help from Skadden, News Corp. and its CEO, Rupert Murdoch, have dodged a proposed securities fraud class action over the company's phone-hacking scandal—at least for the time being.

Steve Molo

GE Unit Loses Bid to Sink Megabucks Mortgage Suits

By Jan Wolfe |

Rejecting defense arguments by Jenner & Block, a Paul Krugman-quoting federal judge in Connecticut refused to toss claims brought by MoloLamken and Ropes & Gray over more than $4 billion in mortgage-backed securities.

Hewlett-Packard headquarters in Palo Alto, CA.

HP Reaches $57 Million Deal to End Class Action Over WebOs

By David Bario |

Hewlett-Packard shocked investors when it pulled the plug on the company's much-touted WebOs operating system and signaled a wholesale shift in business strategy. Now HP and its lawyers at Morgan Lewis and Gibson Dunn have agreed to a $57 million settlement to make investor claims over the episode go away.

JPMorgan, Dimon Can't Shake London Whale Class Action

By Jan Wolfe |

Did Jamie Dimon engage in securities fraud when he downplayed the London Whale trading scandal as a "tempest in a teapot"? Thanks to a ruling issued on Monday, we could eventually see a ruling on that question—or a settlement to make it go away.

MBS Class Action Continues to Haunt Goldman

By Jan Wolfe |

Having twice dismissed the case without prejudice, a federal judge is now allowing discovery in a class action against Goldman Sachs, which is accused of duping investors in a $780 million mortgage-backed security. Sullivan & Cromwell is advising Goldman.

Skadden Win in Bank of America Case May Undercut DOJ's Strategy

By Jan Wolfe |

A U.S. magistrate judge's recommendation to dismiss claims that Bank of America defrauded investors in a mortgage-backed security may weaken the Department of Justice's efforts to use a statute known as FIRREA.

Orin Snyder

Litigator of the Week: Orin Snyder of Gibson, Dunn & Crutcher

By Jan Wolfe |

Paul Ceglia claimed in a 2010 lawsuit that Facebook's founder promised him a 50 percent stake in the company. Now Ceglia's fighting criminal fraud charges for bringing the case, and Snyder's relishing a slam-dunk victory.

Bank of America Deal Is Latest Triumph for FHFA, Quinn Emanuel

By Jan Wolfe |

The Federal Housing Finance Agency's legal assault on Wall Street moved closer to a merciful end for the banks on Wednesday, when Bank of America retreated to the tune of $9.5 billion.

Time to End the Waiting Game in Second Circuit Citigroup Case

By Susan Beck |

It took U.S. District Judge Jed Rakoff just six weeks to reject Citigroup's $285 million settlement with the SEC. So why is the Second Circuit taking so long to decide whether Rakoff was right?

Seth Waxman

Wilmer's Waxman Strikes Out in Rajat Gupta Appeal

By Jan Wolfe |

It's starting to look like all the appellate hired guns in the world can't dent the Manhattan U.S. attorney's undefeated record in insider trading trials.

FINRA Arbitrator Allegedly Faked Background, Law License

By David Bario |

The Financial Industry Regulatory Authority—the securities industry-funded Wall Street regulator and investment arbitrator—has weathered its share of storms over the last couple years. Now another one is brewing, and it's a doozy.

CDO Manager Borrows From Rajat Gupta's Playbook in SEC Fight

By Jan Wolfe |

Wing Chau, who's been in hot water with the Securities and Exchange Commission since last year, now says the agency is violating his constitutional rights by using its administrative machinery—and not the federal courts—to press its case.

Kirkland Defeats Whistleblower Suit Against Pfizer

By Jan Wolfe |

A federal judge on Friday dismissed claims by a sales representative that Pfizer paid kickbacks to doctors and promoted Felctor, a patch used to treat acute pain, for off-label uses.

Credit Suisse Settles MBS Claims With FHFA for $885 Million

By Jan Wolfe |

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.

Joel Laitman

Credit Suisse Class Action Ruling Could Spell Trouble for Banks

By Julie Triedman |

Plaintiffs lawyers at Cohen Milstein Sellers & Toll moved a step forward this week in a securities class action alleging that Credit Suisse duped investors into buying mortgage-backed securities backed by shoddy home loans.

Kasowitz Takes Aims at Insurers for MBIA Legal Fees

By Jan Wolfe |

Kasowitz, Benson, Torres & Friedman guided MBIA Inc. through many of its legal battles stemming from the financial crisis. Can the firm now help MBIA recoup millions of dollars in legal fees from its insurers?

Billionaire Ronald Perelman

Court Makes Going-Private Deals Tougher to Challenge

By Jan Wolfe |

The Delaware Supreme Court dismissed a suit alleging that MacAndrews & Forbes enriched itself at the expense of shareholders when it took over an affiliate in 2011, marking a win for defense lawyers at Skadden, Arps, Slate, Meagher & Flom and Willkie Farr & Gallagher.

U.S. Securities & Exchange Commission building in Washington, D.C. August 21, 2013. Photo by Diego M. Radzinschi/THE NATIONAL LAW JOURNAL.

Lions Gate to Pay $7.5 Million for Misleading Investors

By Susan Beck |

The Securities and Exchange Commission found that Lions Gate, advised by Wachtell Lipton, gave its shareholders misleading information about a major stock transaction that was designed to thwart corporate raider Carl Icahn's takeover bid.

Judge Tosses Transocean Class Action Ahead of Supreme Court Appeal

By Jan Wolfe |

In a case of awkward timing, a judge on Tuesday dismissed a securities class action against Transocean Ltd. on the basis of an appellate decision that the U.S. Supreme Court agreed to consider reversing just the day before.

Judge Fines Ex-Goldman Trader Tourre but Nixes SEC Injunction Bid

By David Bario |

Though mostly siding with the SEC, a federal judge refused to enjoin Fabrice Tourre from future securities violations, concluding that such "obey-the-law" injunctions are of dubious value and noting that the SEC has apparently never enforced one against an investment banker.

Chinese Investment Giant Dodges N.Y. Securities Class Action

By Jan Wolfe |

A federal judge in Manhattan dismissed a class action lawsuit alleging that a unit of Chinese state-owned CITIC Group facilitated securities fraud on the part of Puda Coal.

S&P's Retaliation Claim Against Government Gets Hearing

By Amanda Bronstad |

A federal judge in California will hear arguments on Tuesday about whether to grant discovery involving evidence allegedly indicating that the DOJ filed its $5 billion lawsuit against Standard & Poor's in retaliation for its downgraded credit rating of the United States.

Supreme Court to Weigh Time Limits for Securities Class Actions

By Jan Wolfe |

If one investor in a security files a timely class action, is the statute of repose tolled for all class members? The question may seem arcane, but the answer could be worth plenty to securities issuers and their underwriters, not to mention the securities plaintiffs bar.

No Boies v. Wells Rematch as Terra Firma Takes Citigroup Case to U.K.

By Ross Todd |

After more than four years and who knows how much money spent duking it out in the U.S., Terra Firma Capital Partners and Citigroup have opted to let an English court deal with their dispute over the 2007 sale of music label EMI.

Insider Trading Case Marks Latest Mixed Verdict for SEC

By Jan Wolfe |

The latest came on Thursday in an insider trading case against Andrew Jacobs, a former executive at The Hershey Co., and his brother Leslie Jacobs.

Justices Weigh Class Action Compromise in Halliburton Case

By Tony Mauro |

Wednesday's blockbuster arguments on the fate of securities class actions pitted Boies Schiller's David Boies against Aaron Streett of Baker Botts. But an amicus brief filed by Vinson & Elkins on behalf of a group of law professors nearly stole the show.

Justices Expand Corporate Whistleblower Protection

By Tony Mauro |

The U.S. Supreme Court on Tuesday significantly expanded legal protection for corporate whistleblowers, making it clear for the first time that thousands of workers in the mutual-fund industry and other private companies are protected from retaliation for reporting fraud.

High Court Takes Up New Securities Conundrum in Omnicare Case

By Jan Wolfe |

With Monday's cert grant in Omnicare, Winston & Strawn won a chance to resolve a circuit split over what constitutes a false statement under federal securities laws. Plus: Some good news for Aereo as it prepares for April arguments in its Supreme Court showdown with TV broadcasters.

Thomas Goldstein of Goldstein & Russell

Litigator of the Week: Thomas Goldstein of Goldstein & Russell

By Jan Wolfe |

The omnipresent Supreme Court advocate and SCOTUSblog cofounder scored a major victory for class action plaintiffs who are seeking billions from law firms and other advisers of Ponzi schemer R. Allen Stanford.

Shareholders Tout Discovery Win in Fannie/Freddie Takeover Challenge

By Julie Triedman |

Lawyers for the plaintiffs say the ruling may bring them closer to brokering a deal for preferred shareholders who lost billions in expected profits when the terms of the government's Fannie and Freddie takeover suddenly changed in mid-2012.

Thomas Goldstein of Goldstein & Russell

Chadbourne, Proskauer Lose Supreme Court Bid to Block Stanford Class Actions

By Julie Triedman |

In a highly anticipated decision interpreting the reach of the Securities Litigation Uniform Standards Act, the court green-lighted investor claims against Chadbourne & Parke, Proskauer Rose and other advisers of convicted Ponzi schemer R. Allen Stanford.

Latham, Chadbourne Win Dismissal of YPF Shareholder Suit

By Jan Wolfe |

A federal judge dismissed a class action claiming that oil companies Repsol SA and YPF SA misled shareholders about the possibility of YPF being nationalized by the Argentine government.

Fourth Circuit Rejects FCA Case Against Omnicare

By Susan Beck |

The court held that even if the government paid for tainted drugs packaged by Omnicare, the company didn't violate the False Claims Act because the FDA had approved the unadulterated form of the drugs. The ruling is a win for Reed Smith.

Joel Laitman

RBS Settlement Caps Long Slog for Cohen Milstein

By Julie Triedman |

When Royal Bank of Scotland agreed to pay a class of mortgage-backed securities investors $275 million, Cohen Milstein called the deal the third- largest class action settlement in a federal mortgage-backed securities case. For partner Joel Laitman, it's been a long time coming.

SEC Argues Whistleblowers Can Report Internally

By Jenna Greene |

The SEC filed an amicus brief Thursday stressing that whistleblowers are entitled to the Dodd-Frank Act’s full protection against retaliation whether they report their employers’ wrongdoing internally or go straight to the agency.

Judge Won't Delay Final Approval of $8.5 Billion BofA Deal

By Jan Wolfe |

A judge in Manhattan told AIG and other objectors to Bank of America's mortgage-backed securities mega-settlement to bring their beef with the deal to the U.S. Court of Appeals for the Second Circuit.

Bid Fails to Ship Mortgage-Securities Cases to Kansas

By Amanda Bronstad |

Seven lawsuits filed by the National Credit Union Administration Board will move forward against banks that sold residential mortgage-backed securities after a federal judicial panel refused to coordinate them with similar cases in Kansas.

Paul Weiss Strikes Out for Contorinis, Scores for Citi at Second Circuit

By Jan Wolfe |

The firm couldn't reverse a ruling that a client convicted of insider trading must disgorge $7 million. But it did finish off a fraud case brought against longtime client Citigroup Inc. by a group of Norwegian investors represented by Kasowitz Benson Torres & Friedman.

Keryx Biopharmaceuticals Fends Off Investor Suit

By Jan Wolfe |

Keryx Biopharmaceuticals Inc. and its lawyers at Alston & Bird have defeated claims that the company misled investors about the results of a clinical trial for its cancer drug Perifosine.

Cadwalader Faces Narrowed Malpractice Claim Over Nomura Advice

By Jan Wolfe |

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.

Litigator of the Week: U.S. Attorney Preet Bharara

By Jan Wolfe |

Bharara has taken some flack for his choice of targets on Wall Street. But it's hard to argue with his record of insider trading convictions, which now stands at a stunning 79-0.

George Canellos

SEC's Canellos Returns to Milbank as Shearman Picks Up Orrick Heavyweights

By Julie Triedman |

Wednesday was a day of musical chairs for the New York securities bar. One top securities litigator and government enforcer opted to return to his longtime law firm, while another prominent practitioner landed at his fourth firm in eight years.

The Courts, Not DOJ, Should Decide If JPMorgan Deal Is Fair

By Susan Beck |

Better Markets' lawsuit challenging the Justice Department's $13 billion deal with JPMorgan is probably doomed to fail. But that doesn't mean the Wall Street watchdog is wrong to blast the DOJ for bypassing judicial scrutiny in its record out-of-court settlement.

SEC Claims Trial Victory—And So Does Defendant

By Jenna Greene |

After a string of recent courtroom defeats, the U.S. Securities and Exchange Commission declared victory following a two-week securities fraud trial in Minneapolis federal court.

Wall Street Watchdog Sues DOJ over $13B JPMorgan Pact

By Jan Wolfe |

Better Markets Inc., a nonprofit led by a former partner at Skadden, Arps, Slate, Meagher & Flom, filed an unusual lawsuit Monday challenging the legality of the U.S. Department of Justice's $13 billion mortgage settlement with J.P. Morgan Chase & Co.

Q&A With Preet Bharara, Manhattan U.S. Attorney

By Julie Triedman |

Manhattan U.S. Attorney Preet Bharara has had his share of big weeks since taking office nearly five years ago. But even for him, the last one was a doozy.

BNY Mellon Dodges Repsol's $50 Million Suit

By Jan Wolfe |

A judge has tossed Spanish oil company Repsol's claims that YPF SA and Bank of New York Mellon wrongfully blocked it from casting votes at a YPF shareholder meeting. On the losing end of the ruling were Repsol's attorneys at Butzel Long. Dechert represented BNYMellon while Chadbourne & Parke advised YPF.

Litigators of the Week: Kathy Patrick of Gibbs & Bruns, Matthew Ingber of Mayer Brown and Hector Gonzalez of Dechert

By Jan Wolfe |

Through two-and-a-half years of litigation and a fiercely contested bench trial, the trio of lawyers helped keep Bank of America's $8.5 billion settlement with mortgage-backed securities investors on track.

Mathew Martoma exits federal court with his wife Rosemary Martoma and attorneys Richard Strassberg and Roberto Braceras in New York, U.S., on Thursday, Feb. 6, 2014.

Jury Finds SAC's Martoma Guilty as Bharara Extends Streak

By Ross Todd |

Despite the efforts of defense lawyer Richard Strassberg of Goodwin Procter, Manhattan U.S. Attorney Preet Bharara claimed yet another victory on Thursday in his campaign to clamp down on insider trading.

AIG Wins Temporary Delay of $8.5 Billion BofA Deal

By Jan Wolfe |

With so many zeroes at stake in Bank of America's megasettlement with mortgage-backed securities investors, some high-profile challengers aren't ready to declare an end to the case just yet.

Banks' Bill in FHFA Cases: $9 Billion and Counting

By Jan Wolfe |

The latest blockbuster settlement was announced late Tuesday, when Morgan Stanley revealed it would pay $1.25 billion for selling faulty mortgage-backed securities to Fannie Mae and Freddie Mac.

SEC Suffers Latest Trial Setback in Life Partners Case

By Jan Wolfe |

Both sides are claiming victory after a mixed verdict in the Securities and Exchange Commission's fraud case against the Texan financial services firm Life Partners Holdings Inc. Can Patton Boggs and Baker & McKenzie persuade the judge to make it a clean defense win?

Kathy Patrick of Gibbs & Bruns.

Judge Gives Green Light to BofA Mortgage Settlement

By Jan Wolfe |

A judge in New York largely approved a long-delayed $8.5 billion settlement between Bank of America and mortgage-backed securities investors, resolving in one fell swoop much of the bank's liability for its acquisition of Countrywide Financial Corp.

Eric Lewis

Goldman Sachs Can't Escape CDO Fraud Case

By Jan Wolfe |

A New York appeals court has allowed a defunct Australian hedge fund, Basis Yield Alpha Fund, to proceed with a $1 billion fraud case against Goldman Sachs & Co. The ruling is a win for the small litigation boutique Lewis Baach, and a setback for Goldman's lawyers at Boies Schiller.

Gibson Dunn Lands One-Two Punch in SAIC Investor Cases

By Jan Wolfe |

On the same day, Gibson Dunn's Andrew Tulumello helped SAIC win two major rulings in lingering investor litigation related to a New York City kickbacks scandal.

Judge Rejects Fee Bid in $20 Billion Sprint M&A Challenge

By Ross Todd |

A gaggle of top plaintiffs firms that challenged a $20 billion deal involving Sprint got some disappointing news this week when a Kansas judge denied their bid for $8 million in fees.

Maurice

Debevoise Knocks Out Greenberg Suit Over AIG Bailout

By Jan Wolfe |

Maurice "Hank" Greenberg, the former chairman of American International Group, has reached a dead end in his company's $25 billion lawsuit alleging that the Federal Reserve Bank of New York's takeover of AIG was unlawful.

Goldman Loses Bid to Arbitrate Case Tied to Credit Union Collapse

By Jan Wolfe |

Faced with claims that Goldman Sachs saddled a failed credit union with toxic securities, Goldman's lawyers at Sullivan & Cromwell unearthed a long forgotten arbitration agreement that they hoped would offer a quick escape.

Securities Filings Rise as Halliburton Challenge Looms

By Ross Todd |

You know something big is brewing in investor litigation when every study on last year's uptick in securities class action filings includes the caveat that the practice could come to a screeching halt in 2014.

SAC's Cohen Must Face Ex-Wife's Fraud Claims

By Ross Todd |

"Though treble damages are a tempting way to spice things up, civil RICO and marriage do not go together like a horse and carriage," a federal judge ruled in Patricia Cohen v. Steven Cohen.

Charles

MoFo Nabs Top FCPA Prosecutor Charles Duross

By Ross Todd |

After testing the waters at about a half-dozen law firms, the Justice Department's outgoing FCPA enforcer is joining Morrison & Foerster to lead the firm's global anticorruption practice.

Banks, Icahn Beat Claims by Herbalife Short-Seller

By Jan Wolfe |

In a stinging rebuke for short-seller and legal activist Daniel Ravicher, a judge on Tuesday dismissed claims that billionaire Carl Icahn and three major banks propped up an alleged pyramid scheme at the nutritional supplements company Herbalife Ltd.

U.S. Attorney General Eric Holder Jr. during a press conference at the Department of Justice. September 30, 2013.

DOJ Settlements: Don't Believe the Hype?

By Jan Wolfe |

The Department of Justice announced this month that it collected a whopping $8 billion in civil and criminal settlements last year. But is the agency telling the whole story about whether these settlements are wins or losses for the public?

Harvard Law School Booted Ex-SAC Employee, Docs Show

By David Bario |

Former SAC Capital Advisors portfolio manager Mathew Martoma, now on trial for insider trading, allegedly falsified his Harvard transcripts and included them in clerkship applications submitted to 23 federal appellate judges around the country.

JPMorgan Deal is Bittersweet Victory for Picard

By Susan Beck |

More than three years after JPMorgan pooh-poohed Irvng Picard's claims that it turned a blind eye to Madoff's fraud, the Baker & Hostetler partner won a measure of vindication.

PSLRA Vets Join High Court Class Action Challenge

By Jan Wolfe |

Drafters of the Private Securities Litigation Reform Act of 1995 reunited this week to file an amicus brief in Halliburton v. Erica P. John Fund Inc., one of the biggest threats to securities class actions ever to reach the U.S. Supreme Court.

SAC's Martoma Wins Some Relief Ahead of Trial

By Jan Wolfe |

Goodwin Procter's Richard Strassberg managed to keep at least a few bits of unfavorable evidence about SAC Capital's Mathew Martoma from ever reaching a jury.

For FHFA's Targets, It Paid to Pay Up Quickly

By Jan Wolfe |

Newly released figures support the notion that General Electric Co. and Citigroup Inc. were smart to be the first to settle claims that they duped Fannie Mae and Freddie Mac into buying toxic securities.

Another Year of Spins Though the Revolving Door

By Ross Todd |

The so-called revolving door between government and big law firms is spinning faster than ever. We've compiled some of the boldest of the bold-face names that took a turn in 2013.

Cahill Guides Deutsche Bank to Shareholder Deal

By Jan Wolfe |

After staving off class certification last fall, Deutsche Bank AG has settled a putative investor class action over its pre-financial crisis disclosures.

The American Lawyer's Litigation Department of the Year

By David Bario |

A new champ took the top honors in the all-around category, while other firms claimed titles in a new group of practice area contests that included securities and antitrust litigation as well as IP.

Looking Back, and Ahead, at Investor Class Settlements

By Julie Triedman |

Barring a potential U.S. Supreme Court ruling overturning Basic v. Levinson, 2014 could be another banner year for mega-settlements for securities investors.

U.S. Bank Avoids Sanctions in Suit Against UBS

By Jan Wolfe |

Even though a magistrate judge found that U.S. Bank had been "grossly negligent" in its document retention practices, U.S. District Judge Harold Baer Jr. ruled Friday that the bank shouldn't be sanctioned in an MBS case against UBS.

Deutsche Bank Reaches $1.9 Billion Deal with FHFA

By Jan Wolfe |

The Deutsche Bank deal is the FHFA's second largest, behind a $5.1 billion pact with JPMorgan. But the bank "vigorously" denies that it misrepresented the quality of mortgage-backed securities it sold.

N.Y. Court Closes Door on MBS Put-Back Claims

By Jan Wolfe |

In a key win for Simpson Thacher's David Woll and a big chunk of the financial industry, New York's Appellate Division, First Department, on Thursday knocked out billions of dollars in contract claims against banks that churned out mortgage-backed securities.

Wachtell Fires Back with New Lawsuit in Feud with Icahn

By Ross Todd |

The suit opens a new front in an escalating spat that began when one of Carl Icahn's takeover targets accused Wachtell of malpractice two months ago.

Facebook IPO Suits Clear a Hurdle

By Jan Wolfe |

Facebook and its underwriters, including Morgan Stanley and Goldman Sachs, must continue to face claims that they misled investors about the company's revenue in the run-up to its May 2012 initial public offering.

Robbins Geller Fights Sanctions Request in Boeing Case

By Jan Wolfe |

Boeing's lawyers at Perkins Coie argue that Robbins Geller should be sanctioned because it used allegedly false testimony from an anonymous witness in a securities suit. The firm maintained it acted reasonably.

JPMorgan, FDIC Clash Over WaMu Liabilities

By Jenna Greene |

Escalating a multi-billion dollar game of hot potato, JPMorgan and its lawyers at Sullivan & Cromwell on Tuesday sued the Federal Deposit Insurance Corp., arguing that the bank regulator is on the hook for massive liabilities incurred by Washington Mutual Inc.

Visa, MasterCard Class Action Settlement Gets Approved

By Jan Wolfe |

A federal judge in Brooklyn granted final approval to a $5.7 billion class action settlement that would resolve claims by merchants that Visa Inc. and MasterCard Inc. improperly fixed so-called interchange fees. The ruling represents a hard-fought win for Robins Kaplan Miller & Ciresi, Robbins Geller Rudman & Dowd, and Berger & Montague.

Massey Inks $265 Million Deal to End Investor Class Action

By Jan Wolfe |

Cleary Gottlieb helped guide Massey Energy to the all-cash settlement with securities plaintiffs represented by Labaton Sucharow and Robbins Geller.