Bradley J. Butwin

Partner

Brad Butwin is the Adversarial Department’s New York office leader and a member of the Firm’s Policy Committee. He is a trial lawyer whose practice encompasses a broad spectrum of complex commercial matters, including securities litigation.

Chambers USA 2008 recognizes Brad for his commercial litigation practice, calling him "quick-thinking and versatile," and Legal 500 2008 recognizes him for his securities litigation practice, describing him as "extremely well-liked."  Brad has also been named as a New York “Super Lawyer” for 2006, 2007 and 2008 in a survey conducted by Law & Politics and published in The New York Times.  Brad’s professional experience includes the following:

Illustrative Professional Experience

• Representing a large bank as national coordinating counsel for all of its subprime-related matters.
• Representing major financial institutions in their auction-rate securities matters.
• Representing a major securities firm in a $4 billion putative securities class action alleging manipulation of a company’s stock price through false or misleading research reports to allow hedge funds to reap billions in short-selling profits. Del Giudice v. S.A.C. Capital Mgmt., Banc of America Sec. LLC, et al., No. 2:06-cv-01413 (D.N.J.).
• Obtaining dismissal of a New Jersey state RICO Action alleging a short-selling conspiracy between securities analysts and hedge funds. The case received widespread national press coverage, including from the Wall Street Journal, the New York Law Journal and The American Lawyer. See Biovail v. S.A.C. Capital Mgmt., ESX-L-1583-06.
• Representing a major securities firm in an antitrust class action alleging that the leading prime brokers engaged in a conspiracy by which they routinely “failed to deliver” stock they were required to borrow to cover short stock sales, but nonetheless billed their customers for the borrowing costs. Electronic Trading Group, LLC v. Banc of America Sec. LLC, et al., No. 06 Civ. 2859 (S.D.N.Y.).
• Representing the Securities Industry and Financial Market Association as an amicus in one of the most important securities law cases before the United States Supreme Court in decades. Stoneridge Investment Partners, LLC v. Scientific Atlantic Inc., No. 06-43.
• Representing a major financial institution in a class action alleging that the defendant violated federal and state statute and common law duties by switching investors’ “cash sweep” accounts. DiBlasio v. Merrill Lynch, Morgan Stanley, et al., No. 07-CV-318 (S.D.N.Y.).
• Representing a large investment bank in litigation brought by an investment management firm, claiming that our client misappropriated confidential and proprietary information and otherwise tortiously interfered with a potential $800 million “life settlement” transaction. Lotus Capital Advisors, LLC v. Morgan Stanley & Co., Inc., Index No. 602113/07 (N.Y. Sup. Ct.).
• Representing a securities underwriter in class actions filed in the Southern District of New York against major securities underwriters, alleging antitrust conspiracies in connection with the amount of their underwriting spread. See In re Public Offering Fee Antitrust Litig., No. 98 Civ. 7890, 2006 WL 1026653 (S.D.N.Y. Apr. 18, 2006).
• Representing a large broker-dealer in a class action filed in the Southern District of New York against major securities underwriters, challenging various practices by which lead underwriters of IPO syndicates allegedly seek to discourage “flipping” of IPO shares. See Friedman v. Salomon/Smith Barney, Inc., 2000 Fed. Sec. L. Rep. (CCH) 73,115 (S.D.N.Y. Dec. 8, 2000), aff’d, 313 F.3d 796 (2d Cir. 2002), cert. denied, 520 U.S. 822 (Oct. 6, 2003).
• Representing the New York Stock Exchange’s independent directors in a putative class action challenging the Exchange’s historic merger with Archipelago Holdings. In re New York Stock Exchange/Archipelago Merger Litig., Index No. 601646/05 (N.Y. Sup. Ct.).
• Representing an investment bank in several securities actions in Jackson, Mississippi, alleging violations of Section 11. Pittman, et al. v. UBS Paine Webber, Inc., et al., No. 257-03-689 (Miss. Cir. Ct.); Am. Wireless License Group, L.L.C. v. White, No. 251-03-692 (Miss. Cir. Ct.); Whittington v. UBS PaineWebber, Inc., Arb. No. 03-04155.
• Representing an investment bank in a breach of fiduciary duty action in the Southern District of New York seeking $1.3 billion in damages. See American Tissue, Inc. v. Donaldson, Lufkin & Jenrette Sec. Corp., et al., 351 F. Supp. 2d 79 (S.D.N.Y. 2004).
• Representing all defendants in a putative securities class action in Denver, Colorado, arising from the failure of a large telecommunications company. In re ICG Communications, Inc. Sec. Litig., No. 00-RB-1864 (D. Colo.).
• Representing a public company and its directors in Section 11 actions in Tampa, Florida, arising from the company’s restatement of its financial results. Meigs v. Quality Distribution, Inc., et al., No. 8:04-CV-335-T-24MSS (M.D. Fla.); Steamfitters Local 449 Pension & Ret. Security Funds v. Quality Distribution, Inc., et al., No. 04-03013 (Fla. Cir. Ct.).
• Representing a large investment bank, an underwriter of mortgage-backed securities, in a securities fraud lawsuit brought by a purchaser of mortgage-backed securities. See Mfrs. Life Ins. Co. v. Donaldson, Lufkin & Jenrette Sec. Corp., 2000 Fed. Sec. L. Rep. ¶ 90,987 (S.D.N.Y.).
• Representing a large money manager that issued and managed collateralized bond obligations in a New York state court fraud and breach of contract action. See Beaford Ltd. v. Morgan Stanley & Co., Index No. 126678/02 (N.Y. Sup. Ct.).
• Representing a large financial consultant in an action brought by a municipal retirement plan. City of Coral Gables Ret. Sys. v. UBS Fin. Serv., Inc., No. 04-19496 (Fla. Cir. Ct.).
• Representing a large financial institution in litigation arising from the sale of a private equity fund. See Gunthel, et al. v. Deutsche Bank AG, et al., Index No. 603668/04 (N.Y. Sup. Ct.).
• Representing an outside director and audit committee member of a public theater production company in three large securities class actions in the Southern District of New York. See In re Livent, Inc. Noteholders Sec. Litig., 174 F. Supp. 2d 144 (S.D.N.Y); In re Livent, Inc. Sec. Litig., 78 F. Supp. 2d 194 (S.D.N.Y).
• Representing the former CEO of an Internet-based e-mail services company in a Section 11 putative class action. See In re Crayfish Co., Inc. Sec. Litig., No. 00 Civ. 6766 (S.D.N.Y.).
• Representing a large broker-dealer in a putative class action alleging various improper sales practices at a complex of offices. The action was dismissed with prejudice. See Davantzis v. PaineWebber Inc., 2001 N.Y. Misc. LEXIS 536 (N.Y. Sup. Ct.).
• Representing equity research analysts of large broker-dealers in connection with regulatory investigations arising from the broker-dealers’ target stock prices for telecommunications companies.
• Representing large broker-dealers in fraud actions arising from stock pledges. PaineWebber Inc. v. Ashbury Capital Mgmt., L.L.C., et al. (N.Y. Sup. Ct.); S.E.C. v. Ashbury Capital Partners, L.P., et al., No. 00 Civ. 7898 (S.D.N.Y.).
• Representing individuals and companies, including broker-dealers, in litigation and arbitration involving the alleged misappropriation of trade secrets and the alleged violation of restrictive covenants. See, e.g., PSC, Inc. v. Reiss, 111 F. Supp. 2d 252 (W.D.N.Y.).
• Representing several large broker-dealers in various litigation and arbitration across the country concerning (i) the alleged “raiding” of brokers; (ii) allegedly improper investment recommendations and unsuitable investments; (iii) disputes in connection with exchange funds and hedge funds; (iv) alleged prime bank note frauds, and (v) disputes over financial advisory fees owed.
• Representing the New York Mets Baseball Club in a variety of matters.

Professional Activities

Law Clerk, Honorable David N. Edelstein, U.S. District Court, Southern District of New York (1985-1986)
Admitted to Practice, New York; U.S. District Court, Southern and Eastern Districts of New York; U.S. Court of Appeals, Second Circuit
Recipient, Thurgood Marshall Award, presented by The Association of the Bar of the City of New York for work on a death penalty case
Author, "Federal Habeas Corpus Review of State Forfeitures Resulting From Assigned Counsel's Refusal to Raise Issues on Appeal," 52 Fordham Law Review 850 (1984)
Member, Securities Institute of America; American Bar Association (Section of Trial Lawyers); Sports Lawyers' Association