Practice of law: case studies

Read the other FT Innovative Lawyers North America ‘Best practice case studies’, which showcase the standout innovations made for and by people working in the legal sector:

Business of law
In-house

Standout

Pillsbury Winthrop Shaw Pittman: Winner
Originality: 7; Leadership: 9; Impact: 9; Total: 25
Lawyers at the firm helped the Aspen Institute and its partners in an initiative to encourage shipping companies to reduce their carbon footprints. Last year, the think-tank and a consortium of cargo owners set up the Zero Emission Maritime Buyers Alliance (Zemba), backed by retailers Amazon, Patagonia, and Tchibo. This year, the alliance’s first tender secured a commitment from members to buy 1bn container miles of low-carbon shipping from transport company Hapag-Lloyd, powered by waste-derived biomethane. This will prevent an estimated 82,000 tonnes of carbon dioxide emissions over two years.

Hogan Lovells
O: 8; L: 9; I: 7; Total: 24
The firm devised a legal structure allowing eight carmakers to collaborate on building and operating a proposed network of 30,000 electric charging stations across North America. The firm helped the consortium of BMW, General Motors, Honda, Hyundai, Kia, Mercedes-Benz, and Stellantis — now joined by Toyota — to devise the Ionna joint venture and to negotiate with equipment manufacturers. The aim is to install the network of stations by 2030, which will compete against other networks, including market leader ChargePoint and Elon Musk’s Tesla.

Skadden
O: 8; L: 8; I: 8; Total: 24
The firm advised infrastructure group Pattern Energy on how to monetise access to enhanced tax credits, available under the Inflation Reduction Act, in an $11bn financing of renewable energy and infrastructure for its SunZia wind farm and power transmission projects in western US states. The financing package, agreed last November, allows for a $2.25bn tax equity term loan provided by lenders including Santander, Bank of America, and Royal Bank of Canada.

Highly commended

McDermott Will & Emery
O: 7; L: 7; I: 8; Total: 22
The firm advised Oka, a US carbon-credit insurer, on the launch of a novel insurance product that protects buyers of voluntary carbon credits against the risk of future unexpected cancellation, or invalidation, of these offset schemes.

Commended

Morgan Lewis
O: 8; L: 7; I: 6; Total: 21
The firm advised Calvert Impact, a responsible investing group, on the issuance of its Cut Carbon Note: a fixed-income product targeted at retail investors to provide finance for energy-efficient building projects.

Orrick
O: 7; L: 7; I: 7; Total: 21
The firm helped structure Microsoft’s power purchase framework for its deal with Canada’s Brookfield Asset Management, in which the tech giant backed $10bn in renewable energy projects to meet its carbon reduction targets.

Eversheds Sutherland
O: 5; L: 8; I: 7; Total: 20
The firm advised power supply companies on agreements to enable the restart of Palisades nuclear power plant in Michigan, and advised an investor on the financing of a long-delayed new nuclear plant at Vogtle in Georgia.

King & Spalding
O: 6; L: 6; I: 8; Total: 20
The firm assisted Brookfield Renewable in establishing a five-year power purchase agreement with Microsoft, allowing Brookfield to invest in renewable projects.

Standout

Sullivan & Cromwell: Winner
Originality: 8; Leadership: 9; Impact: 9; Total: 26
The firm advised Goldman Sachs in defeating a $13bn, long-running securities class action by a group of pension funds. The funds alleged that historical misrepresentations by the bank had artificially inflated its share price, leading to losses in the wake of the 2008 financial crisis. Some 13 years after the case was first filed, the lawyers obtained an appeals court dismissal of the securities class action lawsuit against the investment bank. The firm helped persuade the appeals court that non-specific claims about a bank committing “fraud-on-the-market” offences were insufficient to certify a class, in a ruling that will affect similar litigation by investors in the US.

Ropes & Gray
O: 8; L: 8; I: 8; Total: 24
The firm successfully argued that the Federal Trade Commission could not hold private equity firm Welsh, Carson, Anderson & Stowe responsible for alleged antitrust violations by US Anesthesia Partners, in which it holds a 23 per cent stake. The FTC had sued both entities for allegedly monopolising anaesthesiology practices in Texas. But the ruling by a federal court in Texas is a setback for the regulator, as it may make it harder to use antitrust rules to challenge the historic involvement of private equity firms.

Highly commended

Cravath, Swaine & Moore
O: 7; L: 8; I: 8; Total: 23
The firm successfully represented Epic Games, the company behind the popular video game Fortnite, in an antitrust lawsuit against tech giant Google. Last December, a federal jury agreed that Google had suppressed competition and abused its powers to charge excessive fees for distribution of video games on its app store.

Latham & Watkins
O: 7; L: 7; I: 9; Total: 23
This year, the firm helped to persuade the Supreme Court to overturn so-called ‘Chevron deference’, a 40-year-old precedent that required courts generally to concede to federal agencies’ interpretation of rules and laws. It was acting on behalf of a fishing company, Relentless, and the New Civil Liberties Alliance, a non-profit that challenges the power of the administrative state.

Kirkland & Ellis
O: 6; L: 8; I: 7; Total: 21
The firm successfully defended video game maker Take-Two Interactive against a lawsuit, establishing that tattoo artists cannot claim intellectual property rights over their work when it appears on celebrities in video games.

Commended

Paul, Weiss, Rifkind, Wharton & Garrison
O: 7; L: 6; I: 7; Total: 20
The firm helped to defend crypto group Ripple Labs and its senior directors against a $2bn claim for penalties by the US Securities and Exchange Commission. Action against directors was dropped last year after Ripple argued its XRP token did not universally qualify as a security covered by the SEC claim.

Dechert
O: 6; L: 7; I: 6; Total: 19
The firm showed that there was no specific injury by AI company Prisma Labs in its use of biometric data and images in its photo-editing Lensa app, resulting in the dismissal of class action lawsuits in Illinois and California.

Standout

Arnold & Porter: Winner
Originality: 8; Leadership: 9; Impact: 9; Total: 26
The firm helped lead a campaign that this year secured damages for families wrongly separated at the US-Mexican border in 2018, under the Trump administration’s subsequently abandoned “separation policy”. This had authorised splitting up immigrant families’ children from their parents.

In July, after five years of litigation, a federal judge in Arizona awarded $1.35mn to a group of claimants comprising five mothers and their children represented by the firm. The defence had claimed that damages should not apply to trauma caused by federal officials enforcing official government policies.

The settlement — alongside a similar-sized award granted by the same judge in May to a group of fathers and their children who had also been separated in Arizona in 2018 — has provided a blueprint for those seeking compensation with similar claims.

King & Spalding
O: 8; L: 8; I: 9; Total: 25
The firm worked with pro bono partners Impact Fund and Legal Aid at Work to sue the US Department of Defense for failing to amend the records among veterans who were discharged because of their sexual identity, under the since-repealed Don’t Ask, Don’t Tell directive and previous military codes. As a result, many continued to be denied a full honourable discharge.

The Department of Defense attempted to dismiss the putative class action, which was aimed at securing those affected the same veteran benefits as those who received full honourable discharges. But a California court declined the attempt in June. As of October, the US government had amended papers to confirm honourable discharge status for many of the nearly 13,500 veterans affected under the Don’t Ask, Don’t Tell rules.

DLA Piper
O: 7; L: 8; I: 9; Total: 24
The firm, along with campaign groups, advised the Navajo Nation in a settlement with New Mexico’s San Juan County after tribe members alleged they were not being properly represented, following the gerrymandering of voting districts.

The county settled the lawsuit in March with a reset of voting boundaries covering its large Navajo population, which had been concentrated in just one of five districts. The new map is likely to enable the Navajo to return candidates in at least two districts until a 2030 census review.

The UCLA Voting Rights Project, the Lawyers’ Committee for Civil Rights Under Law, and the American Civil Liberties Union also advised on the action and agreed settlement.

McDermott Will & Emery
O: 8; L: 8; I: 8; Total: 24
The firm worked with campaign group Children’s Rights to secure support for immigrant children in Tennessee state custody. A court-approved agreement struck in February requires the state to support undocumented children in its care in their applications for special immigrant juvenile status (SIJS). This can allow minors to apply for green card US residency rights if proven to be abandoned, abused, or neglected.

Highly commended

Dechert
O: 7; L: 8; I: 7; Total: 22
The firm helped the Pennsylvania Innocence Project exonerate David Sparks last year, after he spent 17 years in prison following his wrongful conviction for murder, aged 16, based on false evidence.

Freshfields
O: 7; L: 8; I: 7; Total: 22
The firm provided an amicus brief in support of the US Department of Justice’s defence of gun licence bans imposed on domestic violence offenders. The Supreme Court upheld such restrictions in the US vs Rahimi case.

Paul, Weiss, Rifkind, Wharton & Garrison
O: 8; L: 8; I: 6; Total: 22
The firm launched its Center to Combat Hate, which aims to work with campaign groups to bring lawsuits confronting hate-driven violence and intimidation by white supremacists and others.

Commended

Creel, García-Cuéllar, Aiza y Enríquez
O: 6; L: 7; I: 7; Total: 20
This year, the firm secured recognition from Mexico’s National Human Rights Commission of wrongful coercion by police officials in Juarez, Chihuahua, that had helped secure a flawed murder confession from César Fierro in 1979. After four decades in US custody, for a crime that took place in the border city of El Paso, his execution sentence was quashed and, in 2020, he was freed on parole.

Selendy Gay
O: 6; L: 7; I: 7; Total: 20
Lawyers advised authors in successfully challenging three Florida school districts, which had tried to ban children’s school library access to 36 books, including one featuring a family of penguins with same-sex parents.

Crowell & Moring
O: 7; L: 6; I: 7; Total: 20
The firm helped secure a public apology for previous discrimination against Black voters in Federalsburg, Maryland, and to secure undertakings for fairer elections in a broad settlement with the town.

Standout

Hogan Lovells: Winner
Originality: 8; Leadership: 9; Impact: 9; Total: 26
The firm advised a client on discussions with federal authorities about the future licensing of a putative fleet of mobile nuclear microreactors, which could help to power remote oil and gas drilling.

Shepherd Power, a subsidiary of Houston-based oil and gas services company NOV, is now in active talks — along with other potential developers — with the US Nuclear Regulatory Commission. The aim is to secure commercially viable licensing that could allow the manufacture and remote deployment of these reactors at scale. Commended individual: Amy Roma

Cleary Gottlieb
O: 9; L: 8; I: 8; Total: 25
Lawyers advised cryptocurrency broker Genesis on a plan that allowed it to emerge from Chapter 11 bankruptcy protection in May. The liquidation scheme provided for the return of $4.9bn in cash and digital assets to creditors, after Genesis was forced to halt customer withdrawals in November 2022 caused by links to collapsed crypto exchange FTX. The agreement saw crypto creditors recoup an average of two-thirds of the value of their investments, with Genesis’ corporate parent Digital Currency Group excluded from recovery as a shareholder. It also settled actions brought by New York’s attorney-general over claims of fraud.

Davis Polk
O: 8; L: 8; I: 8; Total: 24
The firm advised cryptocurrency asset manager Grayscale in its court victory against the Securities and Exchange Commission in August 2023. The company, part of the Digital Currency Group, overcame SEC objections to win approval for the conversion of its flagship vehicle investing in bitcoin — Grayscale Bitcoin Trust — into a US-listed exchange traded fund, paving the way for the launch of other crypto ETFs. An appeal court ruled that the SEC’s objections based on consumer protection were “arbitrary”, noting the regulator had previously allowed the listing of bitcoin futures ETFs.

Highly commended

Cahill Gordon & Reindel
O: 8; L: 7; I: 8; Total: 23
The firm used civil litigation on behalf of Microsoft, in the US and abroad, to help shut down online operators, based in Vietnam, that sold tools to cybercriminals for enabling ransomware using fraudulent Microsoft email accounts.

Latham & Watkins
O: 8; L: 8; I: 7; Total: 23
The firm advised social media company Reddit on its initial public offering in March, which raised $748mn. The flotation involved offering a portion of shares to many of the site’s unpaid regular content generators and moderators, using Reddit-style forums to reach them.

Weil, Gotshal & Manges
O: 7; L: 7; I: 8; Total: 22
The firm acted as antitrust counsel to Microsoft in its $75bn takeover of video game maker Activision Blizzard, and helped to deal with competition regulators. The transaction closed in October 2023.

Commended

Skadden
O: 7; L: 7; I: 7; Total: 21
Lawyers at the firm acted as antitrust counsel to Activision Blizzard and contributed arguments to competition regulators that its takeover by Microsoft would not block competition in the sector.

Morrison Foerster
O: 6; L: 7; I: 7; Total: 20
The firm co-ordinated with its extensive formal and informal networks of overseas advisers to help guide the SoftBank-backed UK chip designer Arm through its Nasdaq initial public offering, last September.

Weil, Gotshal & Manges
O: 6; L: 6; I: 8; Total: 20
The firm advised crypto mining company Core Scientific on its emergence from Chapter 11 proceedings and relisting on the Nasdaq, just over a year after it filed for bankruptcy.

Standout

Linklaters: Winner
Originality: 8; Leadership: 8; Innovation: 8; Total: 24
The firm advised the Associated Press on a licensing deal with OpenAI, struck in July 2023, that allows the ChatGPT creator to use the news agency’s archive of content to train its software — while ensuring protections for intellectual property and data privacy. Commercial terms of the deal have not been revealed. Other media companies have followed suit, a number of them represented by the firm. Commended individual: Ieuan Jolly

Cadwalader, Wickersham & Taft
O: 7; L: 8; I: 8: Total: 23
The firm has expanded its practice in capital relief trades — arrangements created by banks and other financial institutions to transfer balance sheet risk and reduce their regulatory capital requirements. By collaborating with clients, the lawyers have developed strategies that comply with the demands of various US regulators, whose requirements were tightened after the global financial crisis of 2008. Since July 2023, the firm has assisted eight banks and several other financial groups in negotiating a variety of these trades.

Highly commended

Ashurst
O: 7; L: 8; I: 7; Total: 22
Lawyers advised Georgia’s department of transportation on risk-sharing arrangements for the financing, construction and operation of its proposed SR400 toll road project north of Atlanta. The procurement process aimed to encourage interest among private developers in tendering for the project.

Commended

Cleary Gottlieb
O: 6; L: 7; I: 8 Total: 21
Lawyers acted as global antitrust counsel to Broadcom in the US chipmaker’s $69bn acquisition of cloud software company VMware. The deal, announced in May 2022, closed in November last year.

Freshfields
O: 7; L: 8; I: 6; Total: 21
The firm advised US conglomerate 3M on this year’s spin-off of its healthcare business, now trading as Solventum.

Morgan Lewis
O: 6; L: 7; I: 7; Total: 20
The firm designed the structure of a $500mn debt-for-nature bond arranged by Bank of America, launched to help Gabon to fund marine conservation.

Ropes & Gray
O: 7; L: 7; I: 6; Total: 20
The firm advised Shari Redstone’s National Amusements on the complex sale of its controlling stake in Hollywood group Paramount to independent film studio Skydance Media, to create a group valued at $28bn.

Willkie Farr & Gallagher
O: 6; L: 7; I: 6; Total: 19
The firm advised Metropolis Technologies on its takeover of SP Plus, which valued the formerly listed parking operator at $1.5bn including debt.

Standout

Paul, Weiss, Rifkind, Wharton & Garrison: Winner
Originality: 8; Leadership: 8; Impact: 9; Total: 25
The firm advised California biotechnology company Inhibrx on the sale of INBRX-101 — a drug designed to treat a rare inherited lung disease — to French pharmaceutical company Sanofi for $1.7bn.

The complex acquisition involved the creation of a new company, Inhibrx Biosciences, to take on the vestigial assets of the previously quoted company not associated with the targeted drug treatment, allowing the remaining part of Inhibrx to be merged with Sanofi.

Knobbe Martens
O: 8; L: 8; I: 8; Total: 24
The firm won a sales ban against some models of Apple’s smartwatch devices, after the US International Trade Commission found last year that they violated the patents of Masimo Corporation and infringed its blood oxygen monitoring technology. Apple has appealed in counteractions against Masimo, but continues to be prohibited from importing and selling watches that offer the disputed blood oxygen feature.

Reed Smith
O: 8; L: 9; I: 6; Total: 23
This year, the firm filed an amicus brief for a case before the Supreme Court, since dismissed, on behalf of several high-profile employers. It argued that state restrictions on abortion in Idaho were having a negative impact on businesses and the economy, and may deter women from moving to the state for work.

The case related to an ongoing challenge to Idaho’s strict state abortion laws that followed the Supreme Court’s decision to reverse the federal right to abortion in 2022.

Highly commended

Cravath, Swaine & Moore and Sullivan & Cromwell
O: 7; L: 7; I: 7; Total: 21
The two firms agreed a settlement with the Federal Trade Commission for Amgen in September 2023 that allowed the drugmaker to press ahead with its $28bn acquisition of biopharmaceutical company Horizon Therapeutics, overcoming earlier FTC antitrust concerns.

Commended

Linklaters
O: 7; L: 6; I: 6; Total: 19
The firm successfully defended Ramkumar Rayapureddy against action for alleged insider trading brought by the US Securities and Exchange Commission. Linklaters also secured exoneration for Rayapureddy, chief information officer at drugs group Viatris, from Department of Justice charges in January.

McDermott Will & Emery
O: 6; L: 7; I: 6; Total: 19
The firm used artificial intelligence-powered software to review 30,000 contracts in three weeks to accelerate the sale of Pennsylvania’s Geisinger Health to medical care consolidator Risant Health.