Related Practices
Related Industries
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Our firm is a leader in representing major financial services providers and their officers and directors in a broad array of commercial, antitrust, securities, and consumer litigation, as well as in governmental enforcement actions.
Our work in this area frequently involves lawyers from our Litigation, Appellate, Antitrust, and Financial Institutions Practice Groups, thus enabling us to combine our litigation efficacy with our substantive expertise.
Areas of expertise include:
Representative Matters
- Defense of JPMorgan Chase in litigation brought by American Express alleging that Visa, MasterCard and member banks, including Chase, conspired to enact rules preventing member banks of Visa and MasterCard from issuing credit and debit cards using the Amex network.
- Representing Wells Fargo Bank in a putative consumer class action brought under the California Unfair Competition and False Advertising statutes challenging the bank's disclosures and advertising relating to the order of posting of debit card transactions.
- Representing Wachovia Bank, N.A. before the U.S. Supreme Court in Watters v. Wachovia Bank, N.A. regarding federal preemption of Michigan State officials’ efforts to regulate mortgage subsidiary of Wachovia Bank.
- Representing Freddie Mac in approximately 20 securities class action and derivative lawsuits brought in several jurisdictions in the wake of Freddie Mac’s $5 billion restatement of earnings for the years 1999-2002. The lawsuits charged that Freddie Mac fraudulently inflated the price of its stock during the restatement period by “smoothing” its earnings. We defended the Company through two years of intensive discovery and motion practice. After an important victory on a novel defense to plaintiffs’ class certification motion, we obtained a very favorable comprehensive global settlement of the actions in April 2006.
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