Paul, Weiss is widely recognized as having one of the nation’s preeminent securities litigation and regulatory practices. For two decades, our lawyers have guided global corporations and financial institutions through a series of “bet-the-company” securities-related crises, consistently reducing or eliminating their most damaging claims and negotiating favorable resolutions.
Paul, Weiss Recognized by The American Lawyer for Win in Major Securities Lawsuit
- Awards
- July 22, 2022
Litigation partners Kannon Shanmugam, Walter Ricciardi, Geoff Chepiga and Ted Wells were all recognized by The American Lawyer’s “Litigation Daily” column for their win in a significant securities litigation lawsuit.
Representing mining giant Rio Tinto’s former CFO Guy Elliott, Kannon, Walter, Geoff and Ted won a Second Circuit affirmance in a high-profile appellate showdown with the SEC on July 15. In a decision roundly rejecting the SEC’s approach to “scheme liability” in securities cases, the Second Circuit found that false statements and omissions alone can’t form the basis of claims of a scheme to defraud investors.