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A partner in the Litigation Department and co-chair of the Securities Litigation and Enforcement group, Richard A. Rosen has extensive experience in civil litigation in the state and federal courts in the fields of securities, directors’ and officers’ liability, mergers and acquisitions, derivatives, banking, commodity futures and other complex business disputes.
Richard has frequently represented public companies and underwriting syndicates in securities fraud class action litigations, as well as both issuers and investment banking firms in a wide variety of other securities matters. He has also defended many class actions involving open and closed-end funds and limited partnerships. Richard also often appears on behalf of directors and officers in derivative suits alleging breaches of fiduciary duty and as counsel for Special Litigation Committees.
Richard is listed for the eleventh consecutive year in the 2015 edition of Chambers USA: America's Leading Business Lawyers. Earlier this year, he was awarded "Lawyer of the Year" for Bet-the-Company Litigation by Best Lawyers and recognized as a "New York and National Litigation Star" in General Commercial and Securities Litigation by Benchmark Litigation, which has recognized him each year since 2007. He is "Highly Recommended" in New York for both Dispute Resolution and Securities Litigation by PLC Which Lawyer? Yearbook 2007-2012 and has been selected by Lawdragon as one of the 500 leading litigators in America. He is listed in the 2007-2014 editions of The Legal 500, the 2006-2013 editions of New York Super Lawyers, the 2006-2014 editions of the New York Area's Best Lawyers and the 2007-2012 editions of Who's Who in American Law. Richard was singled out as the "Litigator of the Week" by The American Lawyer in February 2009 for his "huge victory for corporate directors" in obtaining dismissal by the Delaware Chancery Court of a derivative suit against the directors of Citigroup.
Representative clients for which he has handled significant litigations are: Morgan Stanley, Citigroup, JP Morgan Chase, Goldman Sachs, UBS, Thomas H. Lee Partners, Van Kampen Investments, Turquoise Hill, Teco Energy, Warner Chilcott, Ltd., Hotels.com, Continental Grain Company and Carnival Corporation. He has filed amicus curiae briefs in both the United States Supreme Court and the United States Court of Appeals for the Second Circuit on behalf of the Securities Industry Association in cases raising issues of particular concern to the securities industry.
He has frequently represented major money center banks, as well as other financial institutions and major bank customers, in a wide variety of litigation matters and potential litigation, ranging from borrower bankruptcies and workouts to lender liability actions, age discrimination claims, letter of credit disputes and other commercial controversies. Representative clients for which he has handled significant matters include Citibank, Chase Manhattan Bank, N.A., DEPFA Bank, Mitsubishi Bank, Bank One, Korea First Bank, Bankers Trust Company and Marine Midland Bank.
Richard has also been defense counsel in the two most significant commodity futures manipulation class actions of recent decades: the silver market cases and the copper market cases.
Richard's recent experience includes:
Richard has frequently published articles on corporate and securities law issues. These include articles on the Private Securities Litigation Reform Act and a series of articles on liability for soft information and projections. He is the general editor of the only comprehensive book on the law of settlement agreements and the settlement process, Settlement Agreements in Commercial Disputes: Negotiating, Drafting and Enforcement, published by Wolters Kluwer.
Richard was identified as one of the members of The 2009 and 2006 BTI Client Service All-Star Team for Law Firms, a select group of attorneys that delivers the best client service to Fortune 1000 clients. In 2009, BTI named him one of four lawyers in the country on its "Super All Star Team."
Richard was a speaker at the 2002, 2003, 2004, 2007 and 2008 annual meetings of the Law and Compliance Division of the Securities Industry and Financial Markets Association. Richard served as chair of the panel on SEC Enforcement at the 2015 IAA Investment Advisor Compliance Conference. He has been a lecturer for the American Law Institute/American Bar Association, the American Conference Institute, Institutional Investor, the Directors Roundtable, The Canadian Institute, the Association of the Bar of the City of New York, and the American Conference of Investment Counsel on securities and corporate law issues. He has served as a panelist on programs sponsored by the Litigation Section of the American Bar Association, the Section on Business Law of the International Bar Association, Institutional Investor, Fordham Law School, the Futures Industry Association, the Chicago/Kent Commodities Law Institute, the ABA, Legal IQ and Infonex, a large Canadian conference organization.
Richard was a visiting Professor of Law in May 2013 at the National University, Odessa Law Academy in Odessa, Ukraine, where he taught a course on civil litigation in the United States. While in the Ukraine, Richard also lectured at the International Humanitarian University.
See Library Tab for articles, publications and presentations by Richard Rosen
Dec 09, 2015 | Publications
United States v. Litvak: Second Circuit Overturns Conviction, Holds Defense Is Entitled to Put Forward Expert Evidence on Materiality
Oct 02, 2015 | News
Second Circuit Affirms Dismissal of Derivative Action Against Citigroup’s Board
Oct 05, 2015 | Publications
Supreme Court Declines To Consider Second Circuit’s Landmark Insider Trading Ruling
Oct 01, 2015 | Publications
Southern District of New York Ruling Highlights That Materiality Is a Meaningful Pleading Obstacle in ’33 Act Cases
Sep 17, 2015 | Publications
Southern District of New York Issues Ruling in AIG Securities Litigation That Increases the Hurdles for Opt-Out Plaintiffs
Aug 27, 2015 | Publications
Richard Rosen and David Huntington Co-Author Article on Waivers From Securities Law Disqualifications
Aug 24, 2015 | Publications
Richard Rosen and Udi Grofman Co-Author Bloomberg BNA Article on Political Intelligence and Insider Trading
Jul 27, 2015 | Publications
Litigation Partners Co-Author Bloomberg BNA Article on Confidential Witness Allegations in Securities Fraud Complaints
May 19, 2015 | Publications
Delaware Supreme Court Clarifies That Plaintiffs Must Plead a Non-Exculpated Claim of Breach of Fiduciary Duty to Survive Motion to Dismiss, Even Where Entire Fairness Applies
Apr 09, 2015 | News
Triad Wins Dismissal of Securities Fraud Class Action
Feb 09, 2015 | Publications
Rosen and Lamb Co-Author Article on Forum Selection for Bloomberg BNA
Dec 16, 2014 | News
Judge Dismisses Securities Class Action Against Turquoise Hill
Oct 22, 2014 | News
Paul, Weiss Obtains Dismissal of Derivative Lawsuits Against Morgan Stanley and Van Kampen
Oct 17, 2014 | Events
Richard Rosen to Participate in ACE’s Preferred Securities Panel
Apr 02, 2013 | News
Claims Dismissed Against Morgan Stanley Investment Management
Mar 29, 2013 | News
Citigroup Board Wins Dismissal of Derivative Lawsuit
May 18, 2012 | News
Citigroup Obtains Dismissal of Derivative Complaint
May 03, 2012 | Publications
David Huntington, Daniel Kramer and Richard Rosen Author Article on STOCK Act
Feb 21, 2012 | Publications
Congress Moves To Enact Legislation Addressing Insider Trading By Its Own Members and Other Government Officials – Some Unintended Consequences