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Bradley J. Butwin


Brad Butwin is the Chair of O’Melveny & Myers LLP, an internationally acclaimed law firm of approximately 700 attorneys in 15 offices worldwide. For the past four years O’Melveny has ranked among the top 10 on The American Lawyer’s “A-List,” which recognizes the nation’s most “well-rounded” firms in the areas of revenue per lawyer, pro bono commitment, associate satisfaction, and diversity representation. Under Brad’s leadership, O’Melveny also returned to the finalists’ circle of The American Lawyer’s biennial “Litigation Department of the Year” competition in 2014. It is the seventh consecutive time the firm has either won, placed among the finalists, or received honorable mention—making O’Melveny one of only two firms to have garnered acclaim in every year of the award’s history.

In addition to his leadership roles, which have included Chair of the Litigation Department, Brad maintains an active practice as a trial lawyer. Chambers USA has ranked Brad among the top 25 commercial litigators in New York for the past five years. Benchmark Litigation named Brad a “National Litigation Star” and has consistently listed him as one of the country’s top securities litigators. Legal 500 has recognized Brad’s securities litigation practice, Lawdragon lists Brad among its “500 Leading Lawyers in America” and Best Lawyers includes Brad on its list of leading commercial litigators.

Committed to the communities O’Melveny serves, Brad is a member of the Leadership Council on Legal Diversity, which promotes a more open and diverse legal profession. He is also a member of the New York City Bar Association’s Committee on Financial Reporting and its Task Force on New Lawyers in a Changing Profession. In an effort to bring affordable legal representation to underserved communities, Brad recently cofounded the Court Square Law Project, an innovative public-private collaboration that pairs new law graduates with clients of modest means. A longtime supporter of Fordham Law School, Brad is the Chairman of the Financial Aid Campaign and a member of the Dean’s Planning Council. Brad also serves on the Board of Advisors of The American Society of Legal Writers.

In recognition of his dedication to justice, Brad recently received the Human Relations Award from the New York Lawyers Division of the Anti-Defamation League. He was also presented with the New York City Bar Association’s Thurgood Marshall Award for his role in freeing a wrongly convicted man from Georgia’s death row. Brad received his J.D. from Fordham Law School, where he served as Commentary Editor of the Law Review, and his B.B.A. in Risk & Insurance from the University of Wisconsin. Before entering private practice, Brad served as a law clerk for U.S. District Judge David N. Edelstein (S.D.N.Y.). He and his wife, Randi, have four children, three of whom have played or are playing Division I soccer at the collegiate level; their fourth, age 12, is an aspiring actress.

Illustrative Professional Experience

Brad’s practice focuses on representing financial institutions in their most important and sensitive litigation, from matters involving subprime mortgages to cases challenging high-frequency trading activities to claims related to Bernard Madoff’s fraud to securities class actions throughout the country naming issuers and underwriter syndicates. Examples include:

  • Defending a large financial institution in a putative class action stemming from recent media reports concerning high-frequency trading. City of Providence, Rhode Island v. Bats Global Markets, Inc., Credit Suisse, et al., No. 1:14-CV-02811-JMF (S.D.N.Y.)
  • Defending a large financial institution against lawsuits that seek more than US$1 billion for claims arising from the collapse of Bernard Madoff’s infamous Ponzi scheme. Picard v. Credit Suisse AG, et al., No. 11-CV-2925 (S.D.N.Y.)
  • Obtaining dismissal of the lead underwriters in a putative securities class action arising from the US$1 billion IPO by the Argentine energy company YPF. Monroe County Employees Retirement System v. YPF Sociedad Anonima, Credit Suisse, Goldman Sachs, Morgan Stanley, et al., No. 1:13-CV-00842-SAS (S.D.N.Y.)
  • Defending the lead underwriters in a putative class action alleging that Groupon’s IPO offering materials and other public statements artificially understated the company’s refund reserves, thereby overstating its revenues and profits. In re Groupon, Inc. Securities Litig., No. 1:12-CV-02450 (N.D. Ill.)
  • Defending a securities underwriting syndicate in a putative class action alleging that the offering materials for two public stock offerings of BioScrip, Inc., a pharmaceutical company, were materially false and misleading. Faig v. Bioscrip, Inc., Morgan Stanley, Jeffries, et al., No. 1:13-CV-06922-AJN (S.D.N.Y.)
  • Defending the lead underwriters in a putative class action alleging that DFC, a leading payday lender, engaged in predatory lending practices that caused it to understate loss reserves and overstate income in its secondary public offering. West Palm Beach Police Pension Fund v. DFC Global Corp., Credit Suisse, Nomura Securities, et al., No. 2:13-CV-06731-BMS (E.D. Penn.)
  • Defending a large financial institution in a putative shareholder class action alleging that computer security company FireEye and several of its top executives and directors misled investors in connection with a secondary public offering of common stock. IBEW Local Union 363-Money Purchase Pension Plan, et al. v. FireEye, Inc., Morgan Stanley, et al., No. 1-14-CV-266866 (Sup. Ct. Santa Clara)
  • Defending a large financial institution in a putative class action alleging that the company processed illegal debits from usurious payday lenders. Andrichyn, et al. v. TD Bank, N.A., No. 2:14-CV-03863 (E.D. Penn.)
  • Obtaining dismissal of claims against an underwriter syndicate in a securities class action that arose from American Depositary Share offerings by JinkoSolar, a large solar-product manufacturer based in Shanghai. Peters v. JinkoSolar Holding Co., Ltd., Credit Suisse, et al., No. 11 Civ. 07133 (S.D.N.Y.)
  • Defending former officers of The Great Atlantic & Pacific Tea Co. (A&P) in a putative securities class action alleging that the company’s executives issued false and misleading statements that deceived investors about the condition of A&P’s business, artificially inflated the company’s stock price, and enabled A&P to sell more than US$430 million in debt on favorable terms. Dudley v. Haub et al., No. 11 Civ. 05196 (D.N.J.)
  • Defending a large financial institution in connection with claims arising from its securities lending program. Missouri State Employees Retirement System v. Credit Suisse, New York Branch, No. 09AC-CC00554 (Mo. Cir. Ct.)
  • Obtaining dismissal of a putative securities class action against a large financial institution arising from alleged misrepresentations about its credit losses and subprime-asset exposure in connection with preferred-stock issuances. NECA-IBEW Pension Trust Fund v. Bank of America Corp., No. 10 Civ. 440, 2012 WL 3191860 (S.D.N.Y. Feb. 9, 2012); NECA-IBEW Pension Trust Fund v. Bank of America Corp., No. 10 Civ. 440, 2013 WL 620257 (S.D.N.Y. Feb. 15, 2013)
  • Obtaining district court dismissal and Second Circuit affirmance of a complaint against an investment bank seeking treble damages under the Antiterrorism Act for engaging in financial transactions allegedly be tied to terrorism. Rothstein, et al. v. UBS AG, 2013 WL 535770 (2d Cir. 2013)
  • Obtaining dismissal of a securities underwriting syndicate in a putative securities class action alleging that Chinese apparel company Mecox Lane Limited’s IPO prospectus was materially false and misleading. Arfa v. Mecox Lane Limited, Credit Suisse Securities (USA) LLC, UBS Securities, Inc., et al., No. 10 Civ. 9053 (S.D.N.Y.)
  • Obtaining dismissal as a sanction against opposing counsel and lead plaintiff in a US$4 billion putative securities class action alleging that a major securities firm artificially depressed 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 in a case that received widespread national press coverage, including from The Wall Street Journal, The New York Law Journal, and The American Lawyer. Biovail v. S.A.C. Capital Mgmt., Bank of America, et al., ESX-L-1583-06
  • Obtaining dismissal of a large financial institution in a putative class action alleging that the defendant violated federal and state statutory 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.)
  • Defending a large bank in multiple actions seeking more than US$1 billion for alleged breaches of financing agreements relating to the failed Fontainebleau Las Vegas hotel and resort development. In re Fontainebleau Las Vegas Contract Litig., No. 1:09-md-02106-ASG (S.D. Fla.)
  • Defending a large financial institution in the Tribune Company bankruptcy case in Delaware in actions alleging that a multibillion-dollar leveraged buyout constituted a fraudulent conveyance. In re Tribune Company, Bank of America, et al., No. 08-13141 (Bankr. D. Del.)
  • Obtaining dismissal of a large financial institution, as well as its officers and directors, in a class action under the Securities Act of 1933 alleging that the financial institution’s offering materials for several convertible and preferred stock offerings of billions of dollars of stock were materially false and misleading. Montgomery v. Bank of America Corp., No. 10 Civ. 00440 (S.D.N.Y.)
  • Obtaining dismissal of a large securities firm in antitrust class actions 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. v. Morgan Stanley, Bank of America, et al., No. CGC-07-460147 (Cal. Sup. Ct.)
  • Defending 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 Inv. Partners, LLC v. Scientific Atlanta, 552 U.S. 148
  • Obtaining dismissal of a securities underwriting syndicate in a putative securities class action alleging that the issuer, a large solar-energy company, failed to disclose the imminent defection of its largest customer in its IPO registration and prospectus. Braun v. GT Solar Int’l, Inc., Credit Suisse, UBS, et al., No. 1:08-CV-00312-JL (D.N.H.)
  • Obtaining dismissal of a large investment bank in litigation brought by an investment management firm, claiming that the bank misappropriated confidential and proprietary information and otherwise tortiously interfered with a potential US$800 million “life settlement” transaction. Lotus Capital Advisors, LLC v. Morgan Stanley & Co., Inc., Index No. 602113/07 (N.Y. Sup. Ct.)
  • Defending a securities underwriter in class actions that alleged antitrust conspiracies in connection with the amount of major securities underwriters’ underwriting spread. In re Public Offering Fee Antitrust Litig., No. 98 Civ. 7890, 2006 WL 1026653 (S.D.N.Y. Apr. 18, 2006)
  • Defending the New York Stock Exchange’s independent directors in a putative class action challenging the NYSE’s historic merger with Archipelago Holdings. In re New York Stock Exchange/Archipelago Merger Litig., Index No. 601646/05 (N.Y. Sup. Ct.)
  • Defending a large investment bank, an underwriter of mortgage-backed securities, in a breach of fiduciary duty action seeking US$1.3 billion in damages. American Tissue, Inc. v. Donaldson, Lufkin & Jenrette Sec. Corp., et al., 351 F. Supp. 2d 79 (S.D.N.Y.)
  • Obtaining dismissal of a large broker-dealer in a class action against major securities underwriters that challenged various practices by which lead underwriters of IPO syndicates allegedly sought to discourage “flipping” of IPO shares. Friedman v. Salomon/Smith Barney, Inc., et al., 313 F.3d 796 (2d Cir.), cert. denied, 520 U.S. 822
  • Defending all defendants in a putative securities class action arising from the failure of a large telecommunications company. In re ICG Comm’ns, Inc. Sec. Litig., No. 00-RB-1864 (D. Colo.)
  • Defending a public company and its directors in Section 11 actions 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.)
  • Obtaining dismissal of a large money manager that issued and managed collateralized bond obligations in a fraud and breach of contract action. Beaford Ltd. v. Morgan Stanley & Co., Index No. 126678/02 (N.Y. Sup. Ct.)
  • Defending a large financial institution in litigation arising from the sale of a private equity fund. Gunthel, et al. v. Deutsche Bank AG, et al., Index No. 603668/04 (N.Y. Sup. Ct.)
  • Obtaining dismissal of an outside director and audit committee member of a public theater production company in three securities class actions. 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.)
  • Defending equity research analysts of large broker-dealers in connection with regulatory investigations arising from the broker-dealers’ target stock prices for telecommunications companies
  • Defending several large broker-dealers in various litigation and arbitration across the country concerning (i) allegedly improper investment recommendations and unsuitable investments; (ii) disputes in connection with exchange funds and hedge funds; (iii) alleged prime bank note frauds; and (iv) disputes over financial advisory fees owed. E.g., UBS Securities LLC v. Angioblast Systems, Inc., 650062/2011 (N.Y. Sup. Ct.); UBS Securities LLC v Red Zone LLC, 910 N.Y.S. 2d 55 (1st Dept. 2010)
  • Representing the New York Mets baseball club in a variety of matters

Fordham University, J.D., 1985: Commentary Editor, Fordham Law Review

University of Wisconsin at Madison, B.B.A., Risk & Insurance, 1982

New York

The Securities Act, Underwriters and the Due Diligence Defense,” New York Law Journal, Special Litigation Supplement, February 16, 2010