Paul Weiss

1285 Avenue of the Americas
New York, NY 10019-6064
212-373-3260 (direct)
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A partner in the Litigation Department, Walter Rieman focuses his practice on civil litigation arising from securities-related disputes, other commercial disputes, and disputes concerning governmental regulation. His practice has recently included a range of matters related to disclosure and fraud-related issues, fiduciary duties, mergers, corporate governance, commercial contracts, and federal and state regulatory issues. He has argued appeals before the Second, Seventh, and Ninth Circuits, before New York’s Appellate Division, and before the New York Court of Appeals.


Walter has litigated many individual, derivative, and class actions raising securities-related claims under federal and state law. He has also litigated many other commercial disputes, including contract-based claims, product liability claims, and other tort claims. He has frequently participated in litigating challenges to class certification, including constitutionally based challenges, and other challenges by defendants to various forms of consolidated or mass actions. In addition to his work on private litigations, Walter's experience as a business litigator has included the representation of defendants in actions brought by regulators before federal and state courts and administrative agencies, including the United States Securities and Exchange Commission. Walter has represented both private clients and governmental entities in a number of matters concerning statutory or constitutional constraints on governmental regulation. Walter also has extensive experience involving distressed sovereign debt.

Walter recently briefed and argued appeals in Janes v. Triborough Bridge & Tunnel Authority, No. 13‑4377, 2014 WL 7331578 (2d Cir. Dec. 24, 2014) (affirming summary judgment dismissing claims against our client the Metropolitan Transportation Authority alleging that certain tolls violated the Commerce Clause and other provisions of the U.S. Constitution), aff'g 977 F. Supp. 2d 320 (S.D.N.Y. 2013) (decision granting summary judgment, which Walter also briefed and argued); St. Stephen's School v.PricewaterhouseCoopers Accountants N.V., 570 F. App'x 37 (2d Cir. 2014) (vacating and remanding class certification order in securities-related action against our clients The Citco Group Limited and affiliates); NML Capital, Ltd.  v. Republic of Argentina, 952 N.E.2d 482 (N.Y. 2011) (awarding substantial additional interest to our clients on their holdings of defaulted sovereign debt); Assured Guar. (U.K.) Ltd. v. J.P. Morgan Inv. Mgmt,. 962 N.E.2d 765 (N.Y. 2012); Kagan v. HMC-N.Y., Inc., 100 A.D.3d 468 (1st Dep't 2012); and Kagan  v. HMC-N.Y., Inc., 94 A.D.3d 67 (1st Dep't), appeal dismissed, 973 N.E.2d 182 (N.Y. 2012). He briefed and argued the appeal in AHW Investment Partnership  v. Citigroup Inc., No. 13‑4488 (2d Cir.); we are awaiting the Second Circuit's decision. In that securities-related action, he obtained a judgment from the district court dismissing so-called "holder" claims against our client. See 980 F. Supp. 2d 510 (S.D.N.Y. 2013). He is a principal author of other recent appellate briefs, including briefs filed in the Supreme Court of the United States.



  • J.D., New York University School of Law, 1984
  • B.A., Yale University, 1981


  • Hon. Patricia M. Wald, U.S. Court of Appeals, District of Columbia

Bar Admissions

  • New York
  • California

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Related Resources

Dec 09, 2015 | Publications

United States v. Litvak: Second Circuit Overturns Conviction, Holds Defense Is Entitled to Put Forward Expert Evidence on Materiality

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

Jun 15, 2015 | Publications

New York Court of Appeals Holds That Claims for Breaches of Representations and Warranties Accrue When RMBS Contracts Are Executed

Apr 28, 2015 | Publications

Second Circuit Issues Decision Establishing Comprehensive Framework for Adjudicating Preclusion Issues Under SLUSA

Feb 24, 2015 | Publications

California District Court Clarifies the Appropriate Terms of Securities Class Action Bar Orders and Holds That Nonsettling Class Action Defendants Are Entitled to Judgment Reduction Measured by Settling Defendants’ Liability on Securities Act Claims

Jan 14, 2015 | Publications

Second Circuit Holds That Omissions Regarding “Known Trends” May Support a Section 10(b) Claim, but Imposes Limitations on Such Claims

Jan 05, 2015 | Publications

Ninth Circuit Adopts the Heightened Pleading Standard of Rule 9(b) for the Element of Loss Causation in Securities Fraud Actions

Dec 24, 2014 | News

MTA Wins Major Second Circuit Victory

Dec 16, 2014 | Publications

Third Circuit Holds That Parties to Arbitration Agreements Can Compel Arbitration of Dodd-Frank Whistleblower Claims 

Jun 19, 2014 | News

Paul, Weiss Obtains Vacatur of Class Certification Order for Citco

Jun 12, 2014 | Publications

Supreme Court Holding on Statutes of Repose Supportive of Respondents’ Arguments in Upcoming IndyMac Case

May 20, 2014 | Publications

Columbia Law School Blog Features Paul, Weiss Client Memo

May 20, 2014 | Publications

Following Gabelli, Florida District Court Applies Five-Year Statute of Limitations to Dismiss SEC Claims for Injunctive Relief, Declaratory Relief, and Disgorgement

May 09, 2014 | Publications

S.D.N.Y. Dismisses Claim Seeking Short-Swing Profit Disgorgement from IPO Underwriters

Of Note

Dec 15, 2015

LA Times Critic Names Robbie Kaplan’s Book Among Top 10 of 2015

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