The 10 Law Firms Most Used by Finance and Insurance Companies
Corporate Counsel affiliate ALM Legal Intelligence recently broke out finance and insurance data from its 2017 Who Represents America's Biggest Companies Survey, to discover which law firms are winning the most business in these sectors.
January 24, 2018 at 11:31 AM
4 minute read
McGuireWoods comes in second. The firm -- which has 23 offices and more than 1,000 employees -- worked on a number of finance cases in 2017, including a high-profile suit against Wells Fargo over unauthorized auto loans and arbitration clauses. Changes can be expected this year under new chairman Jon Harmon, who has pledged to turn the firm into a "national powerhouse."
Severson & Werson, a California-based firm with offices in Irvine and San Francisco, came in fourth in the analysis. The firm made headlines alongside Californian companies in 2017, defending embattled Wells Fargo in a suit that claimed the bank profited off of homebuyers who defaulted on their mortgages during the housing crisis. The firm has also worked with other California-born banks, such as Bank of America.
It has been a good run for Shearman & Sterling. In addition to rounding out the top five, one of the firm's star partners, Joseph Frank, also won litigator of the week in December 2017. Frank prevailed for client Nomura, saving the Japanese financial giant hundreds of millions in a case that could save other banks billions going forward.
Cahill comes in sixth. In 2017, the New York-based firm defended Credit Suisse against claims the international banking giant manipulated the Swiss Francs' London Interbank Offered Rate for ten years. U.S. District Judge Sidney Stein of the Southern District of New York granted motions to dismiss the claims in October of last year.
This year's list gets some Midwest representation with Hinshaw & Culbertson. The Chicago-based firm was the second most mentioned firm by insurance companies.
Another California-based firm, Anglin Flewelling Rasmussen Campbell & Trytten has worked on high-profile cases for Wells Fargo.
Ogletree Deakins takes ninth place on this list, but the labor and employment law firm was the most mentioned for insurance companies. It's the first Southern firm on the list, based in Atlanta.
Last but not least is another Southern firm, Balch & Bingham. The Alabama-based corporate law firm's recent finance work has included advising First Partners Financial, Inc., when it was acquired by Progress Financial Corporation. The Birmingham Business Journal reports the deal led to a merged bank with approximately $1 billion in total assets.
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Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
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