Freshfields Bruckhaus Deringer is well established as a strategically connected legal force around the globe, most notably for its international arbitration practice group. It is the only one of the London-headquartered “Magic Circle” firms to have established itself as a powerhouse in litigation, as opposed to just the corporate and transactional work that is the primary driver of this prestigious group. Freshfields has further extended its reach into the US litigation space with the addition of a securities and shareholder litigation practice, which, entering only its fourth year, has already demonstrated aptitude for complex bet-the-company disputes on both the East and West Coasts. “Freshfields was able to pull a few great hires in,” observes a peer. “That firm has a huge footprint – they have a huge balance sheet, so they can afford the talent.” A client cheers the team’s “creative, focused approach to litigation,” and elaborates, “They also advise on how to avoid litigation.” The firm’s strategic hiring paid dividends once again this year when it scored a remarkable coup:
Gayle Rosenstein Klein, a revered New York commercial litigation and securities star, joined the firm in August 2023.
Much of the success of the securities and shareholder group is attributable to its co-head, Meredith Kotler of the New York office, who decamped from Cleary Gottlieb to build out the Freshfields team. Kotler is regularly trusted by global institutions and corporations for her keen, sophisticated representation in financial securities-related disputes that often involve class actions as well as shareholder derivatives. “She did great,” attests one peer of Kotler’s success with business development and recruiting. “She knew who she wanted and had the Freshfields machine supporting her.” A client raves, “Meredith is extremely smart, with excellent judgment. She is very responsive and gives good, quick guidance when it is needed.”
Another key member of this team, Mary Eaton, is also generating acclaim, further elevating the firm’s securities profile. “Mary is doing 3M cases, which are pretty messy,” confirms a peer. “She was building a strong following at Willkie [Farr & Gallagher] before she moved over [to Freshfields]. She and Meredith are a pretty strong duo.” This pair successfully represented AstraZeneca, its CEO, and several other executives in a putative class action in the Southern District of New York, challenging disclosures regarding AstraZeneca’s COVID-19 vaccine, including alleged problems with its clinical trials and prospects for FDA emergency use authorization. The team scored a motion to dismiss, which plaintiffs appealed. Eaton and Kotler also defeated appointment of any lead plaintiff in a putative securities class action in the Eastern District of New York against Tyson Foods and several officers, which alleged that the clients had made false and misleading statements concerning the workplace safety policies and procedures implemented in Tyson’s meatpacking facilities in response to the COVID-19 pandemic. Movants appealed the decision denying their motion for appointment to the district court, and the Freshfields duo submitted a brief in opposition to their objections. That appeal remains pending. Eaton also has historically represented Citigroup, a client that continues to call on her services. “Mary is counsel on that ‘Oops! We meant to wire $9 million and instead wired $900 million’ case, which is a big deal,” asserts a peer.
Freshfields’ double-pronged securities offensive has been equally successful in California, where
Boris Feldman, a “towering figure of the securities bar,” and
Doru Gavril have established the firm’s foothold in that market. One peer testifies, “I know Boris Feldman very well. He was my mentor at Wilson Sonsini – and in fact he was the reason I went there! He has such a big name, that anchor will drop deep in the [Silicon] Valley. He is a legend out here; I will be on a bus and talk to someone about him and they will know him! He is also just a social animal, so he gets around. I also know Doru, who is great. The market out here is so huge and crowded already, but with those two at the helm, it’s a cinch for them to break into this market.” Another peer stresses, “Boris is one of the best-known lawyers in the Bay Area, and at Freshfields he is the head of technology. I think this is more what he wants to do. He’s got a real keen sense for tech and is getting more into securities cases that specifically involve this area. And he is a more senior partner, so for someone to be doing that at his age demonstrates his ambitions.” Feldman and Gavril were chosen by Rivian, an electric vehicles manufacturer, to represent it in several shareholder lawsuits and two securities class actions arising out of its March 2022 decision to reprice its consumer vehicles. Rivian shareholders filed derivative lawsuits in California and Delaware federal courts. The Freshfields duo moved to dismiss the securities class action filed in California federal court in August 2022, and this was granted in February 2023. The team filed its motion to dismiss the securities class action filed in California state court in April 2023.
While Freshfields is certainly “having a moment” in securities, it is also celebrated in other key areas. The firm’s domestic white-collar team has been particularly active of late. The global co-head of this practice, New York’s
Adam Siegel, is championed as “a great talent right in that ‘sweet spot’ of having experience but still plenty of headroom.” Among several other appointments, Siegel provides extensive advice to a major global oil company across its international subsidiaries, covering internal and external investigations and significant compliance risks.
Also in New York, David Livshiz is garnering increasing acclaim for his broad-based commercial litigation practice that incorporates investigations as well as bankruptcy work. A client says, “He is incredibly responsive and practical. He has a deep understanding of our business and is commercially savvy, so his legal advice is very strategic. He does a great job of putting together and leading great teams that are tailored to the particular matter.”
Additionally, the firm is making strides in the antitrust realm, having recruited
Heather Lamberg Kafele to its bench within the past year. A peer raves, “Heather was one of the best antitrust litigators at Winston & Strawn, and now she’s at Freshfields! That’s a big hire for them.”
