Not surprisingly, Davis Polk has consistently represented clients in the most well-known investigations and litigations of the day, most recently those arising from the mortgage meltdown and financial crisis of 2007-08, the Bernard Madoff Ponzi scheme, the massive ongoing Adelphia litigation, and the Stanford Financial investigations and litigations. We were also at the forefront of matters relating to options backdating, mutual fund market timing, Parmalat, Royal Ahold, Enron, Global Crossing, research analyst conflicts of interest, IPO practices and many, many others.

• We have represented each of the 33 underwriters of the May 2012 Facebook IPO against securities claims brought by Facebook shareholders in more than thirty putative class actions.
  
  
  
• We have represented Morgan Stanley in all of its most significant financial-crisis litigation, including in purported class-action lawsuits brought on behalf of investors who purchased residential mortgage-backed pass-through certificates underwritten by Morgan Stanley and in suits by purchasers of CDO’s and SIV’s.
  
  
  
• We have represented the independent directors of MF Global Inc. in the more than 20 cases filed over the company’s October 2011 collapse, including in a massive consolidated securities fraud action that joins over a dozen cases on behalf of a putative class of MF Global investors alleging a wide range of securities claims involving both equity and debt securities.
  
  
  
• In representing Pfizer executives named in several lawsuits alleging that Pfizer's directors and officers had consciously disregarded signs of misconduct, we were instrumental in reaching what is widely considered to be a landmark resolution, the centerpiece of which is the creation of a new committee of the company’s board of directors.
  
  
  
• We are routinely retained by Bank of America to serve as counsel in securities litigation. We recently served as lead trial counsel in the multibillion-dollar litigation in the Southern District of New York related to Adelphia Communications, playing a lead role in a defense group that is composed of more than 20 of the world’s largest commercial and investment banks and securing a favorable settlement for our client. We successfully resolved all litigation against the board of directors of Bank of America in connection with Bank of America’s acquisition of Merrill Lynch and the Board’s overall supervision of the Bank during the financial crisis. We have also represented Bank of America in numerous LIBOR-related class actions, which allege a conspiracy by major international financial institutions to manipulate and suppress LIBOR interest rates before and during the financial crisis.
  
  
  
• We have routinely represented PricewaterhouseCoopers US in major securities litigations. For example, we represented PwC in:
  
  
  • All civil litigations and investigations relating to Bernard Madoff, including in a multidistrict litigation in the Southern District of Florida related to the Optimal Funds which was dismissed in its entirety
    
    
  • Securities litigation and investigations arising out of alleged accounting fraud at Dell, including a consolidated securities action in which plaintiffs alleged a $40 billion market drop that we succeeded in having dismissed with prejudice at the pleading stage
    
    
  • Multidistrict litigation proceedings and investigations arising out of alleged fraud by Tyco’s former management
    
    
  • Securities litigation and investigations arising out alleged fraud at Krispy Kreme
    
    
  • All shareholder litigation arising out of the $378 million acquisition of Diamond Management & Technology Consultants
    
    
  • A putative class action related to Charles Schwab arising out of the collapse of the mortgage-backed securities market, which we succeeded in having dismissed at the pleadings stage
    
    
  • Multidistrict litigation and investigations arising out of the Satyam scandal, which is one of the biggest corporate fraud scandals ever in India
  
  
  
  
• We won a significant victory on behalf of Citibank, a client that we have represented for years, in connection with ongoing efforts by various plaintiffs (largely vulture funds) to collect on judgments against the Republic of Argentina resulting from the Republic’s bond default in 2001, successfully vacating an attempt to attach Citibank client funds.
  
  
  
• We achieved a significant victory in the Ninth Circuit on behalf of Deutsche Bank, resolving an almost decade-long dispute arising out of Deutsche Bank’s alleged role in connection with the manipulation of the market for shares of GenesisIntermedia.
  
  
  
• We defended Palm and its directors against 13 separate lawsuits claiming that the defendants breached their fiduciary duties to Palm’s shareholders by agreeing to allow Palm to be acquired by Hewlett-Packard, obtaining a stay of 12 actions and settling the 13th on favorable terms.
  
  
  
• We secured the dismissal of a multibillion-dollar securities class action case against Aetna and four of the company’s current and former directors and officers. The dismissal, affirmed on appeal by the Third Circuit, creates important law regarding the appropriate analysis for determining whether company statements should be viewed as forward-looking and accordingly subject to safe-harbor rules.