Financial Services Litigation & Investigations Group
Financial Services Litigation & Investigations Group
In the face of turmoil and uncertainty, the world's major financial institutions continue to choose our team to help them manage their business, litigation and reputational risks and thrive in the new economic and regulatory climate. To our clients we are much more than litigators - we are business partners who have a stake in their success.
Client News
Citigroup Wins Major Appeal Cutting Off Efforts to Enforce Vacated Arbitration Award in France
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Paul, Weiss and French co-counsel at A&O Shearman won a significant victory for Citigroup Global Markets, Inc. (CGMI), when the Versailles Court of Appeal reversed an order that had allowed a former Citi client to attempt to enforce in France an arbitration award issued and vacated in the United States.
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Paul, Weiss Named New York Law Journal’s 2024 Finance Litigation Department of the Year
The New York Law Journal recognized Paul, Weiss as the winner in the “Litigation Department of the Year: Finance” category in its 2024 New York Legal Awards, which annually spotlight the attorneys, judges and law firms making a remarkable difference in the legal profession in New York.
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Staci Yablon Named a 2024 Law360 Banking MVP
Law360 honored litigation partner Staci Yablon as a 2024 MVP in the Banking category.
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AR Global Wins Dismissal of Class Action Over REIT Merger
Paul, Weiss won the dismissal, on behalf of our clients asset manager AR Global and its co-founder and CEO Michael Weil, of a class action arising from the merger of two AR Global-managed REITS, Necessity Retail REIT, Inc. (RTL) and Global Net Lease, Inc.
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Flagstar Bank Wins Dismissal of Lawsuit by Former Signature Bank Account Holder
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Paul, Weiss secured the dismissal, with prejudice, of claims brought against Flagstar Bank, NA, in the Southern District of New York by HK Capital LLC, a Signature Bank account holder prior to Signature’s entering FDIC Receivership in March 2023.
Events
Brad Karp and Susanna Buergel Speak at SIFMA Seminar
Firm Chairman Brad Karp and litigation partner Susanna Buergel participated in the Securities Industry and Financial Markets Association’s (SIFMA) 2024 Compliance & Legal Seminar.
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Coinbase Secures Complete Dismissal of Putative Class Action Concerning its Listing of the Digital Asset UST
Paul, Weiss achieved a significant victory for publicly traded cryptocurrency exchange platform Coinbase when the U.S. District Court for the Northern District of California granted in full Coinbase’s motion to dismiss a putative class action concerning Coinbase’s listing of the algorithmic stablecoin UST.
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JPMorgan Chase Directors Win Dismissal of Breach of Fiduciary Duty Claims Over Alleged Zelle Payments Fraud
Paul, Weiss won the dismissal of a derivative claim alleging that our clients breached their fiduciary duties by ignoring alleged “red flags” regarding purported violations on the Zelle payments platform of the Electronic Fund Transfer Act (EFTA) and related regulations.
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Paul, Weiss Partners Recognized by The American Lawyer for Citigroup, Goldman Sachs Win
Litigation partners Ken Gallo, Roberto Gonzalez, Bob Sperling and Staci Yablon were recognized by The American Lawyer on December 22 for securing, on behalf of clients Citigroup and Goldman Sachs, the denial of class certification in multidistrict litigation related to interest rate swap trading.
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Katherine Forrest to Discuss Banking in the Age of AI at International Monetary Conference
Digital Technologies Group Co-Chair Katherine Forrest will participate in a panel, “Beyond Digital: Banking in the Age of AI,” as part of the 2023 International Monetary Conference.
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Goldman Sachs Securities Class Action Plaintiffs Drop Long-Running Case Following Class Decertification
Paul, Weiss secured a final win for Goldman Sachs in a long-running, $13 billion securities class action when the plaintiffs declined a last chance to appeal Goldman’s resounding appellate win decertifying the class and voluntarily dismissed their case, bringing a decade of hard-fought litigation to a close.
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Paul, Weiss Recognized by Law360 for Win in Decade-Long Goldman Sachs Investor Class Action
Litigation partners Kannon Shanmugam and Audra Soloway were recognized in Law360’s “Legal Lions of the Week” column on August 11, alongside co-counsel from Sullivan & Cromwell, for their Second Circuit win in a decade-long investor class action against Goldman Sachs.
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Brad Karp and Roberto Gonzalez Publish Op-Ed in American Banker on CFPB’s Late-Fee Proposal
Firm Chairman Brad Karp and litigation partner Roberto Gonzalez co-wrote an op-ed arguing that the Consumer Financial Protection Bureau’s proposed rule to dramatically decrease credit card issuers' charges for late fees would actually increase overall costs for the large majority of credit card customers.
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Paul, Weiss Shortlisted for Financial Services Litigation Department of the Year in The American Lawyer’s Industry Awards 2023
Paul, Weiss was named a finalist for “Litigation Department of the Year – Financial Services” in The American Lawyer’s 2023 Industry Awards.
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Second Circuit Confirms That Syndicated Bank Loan Is Not a “Security”
In a highly anticipated decision on August 24, the Second Circuit in Kirschner v. JPMorgan Chase Bank, N.A. et al. affirmed dismissal of state-law securities claims because the syndicated term loan in question was not a “security” and therefore not subject to state and federal securities laws and regulations.
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