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    Akash M. Toprani

    Special Counsel

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    New York

    +1-212-558-4000

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    toprania@sullcrom.com

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    Akash M. Toprani is a special counsel in Sullivan & Cromwell’s Litigation Group. His practice focuses on complex commercial litigation, class action defense, government investigations and arbitrations, in a broad array of practice areas, including antitrust, commodities, securities, products liability, consumer protection, digital assets and M&A disputes. Mr. Toprani has a breadth of experience representing clients in diverse industries at all levels of federal and New York state courts, from pre-complaint negotiations and motions to dismiss all the way through trials and appeals. Mr. Toprani has been named in The Best Lawyers in America: Ones to Watch for Appellate Practice (2023-2025).

    Mr. Toprani also maintains an extensive pro bono practice, concentrated in criminal defense, prisoner’s rights litigation and asylum.

    Experience

    • Coinbase, in litigation with the U.S. Securities and Exchange Commission and various state securities regulators relating to whether Coinbase operates an unregistered securities exchange and whether its staking service is an unregistered securities offering.
    • Major League Baseball, in a dispute over the fees due under telecast rights agreements with four clubs. After a two-day hearing in the Bankruptcy Court for the Southern District of Texas, MLB prevailed in full. The S&C team was named “Litigator of the Week” by The American Lawyer.
    • Bayer AG, in an ICC arbitration relating to a multi-billion euro dispute over financial representations in an M&A transaction. Following a two-week hearing in Germany, the Tribunal dismissed all claims against Bayer and awarded Bayer €15 million in attorneys’ fees. The S&C team was named “Litigator of the Week” by The American Lawyer.
    • Court-appointed pro bono class counsel for detainees at the Broward County, Florida jail, in connection with the detainees’ protections from COVID infection. Together with co-counsel, S&C worked for over four years to achieve, monitor and enforce a consent decree to improve protections for detainees. The court held that because of work by S&C and its co-counsel, “serious illnesses were undoubtedly prevented, and lives were almost certainly saved.”
    • JPMorgan Chase & Co., in multiple complex commodities fraud actions related to alleged manipulation of U.S. Treasury and precious metals derivatives.
    • Fiat Chrysler Automobiles, in a multi-district class action related to the Takata airbag scandal, the largest automotive recall in American history.
    • Revlon, Inc., in a securities fraud class action related to alleged non-disclosure of manufacturing issues. Following S&C’s motion to dismiss, the plaintiffs’ claims were dismissed in full.
    • A senior financial services executive, in a money-laundering investigation conducted by various government entities, including the Department of Justice, Department of Treasury, Office of the Comptroller of Currency and Manhattan District Attorney’s Office. After multiple interviews and presentations, the agencies declined to bring any proceedings against S&C’s client.
    • A global consumer products company, in an investigation by the Securities and Exchange Commission relating to public financial disclosures, resulting in a favorable settlement.
    • Dolby Laboratories Inc., in an amicus brief filed with the Court of Appeals for the Ninth Circuit, relating to the interpretation of “FRAND” terms in licensing agreements The Ninth Circuit quoted from S&C’s brief and adopted its position.
    • Institute of International Bankers, in amicus briefs filed with the Supreme Court of the United States and the Court of Appeals for the Second Circuit on the extraterritorial application of U.S. law. The Supreme Court quoted from S&C’s brief in reaching its opinion.
    • BP plc, in a securities fraud class action appeal before the Court of Appeals for the Ninth Circuit related to disclosures about an oil spill in Prudhoe Bay, Alaska. Following oral argument, the plaintiffs abandoned their appeal.
    • Barclays Bank plc, in multi-district class actions, individual actions and government investigations related to alleged manipulation of the “IBOR” financial benchmarks.
    • Nomura Holding America, Inc. and Affiliates in securities litigation concerning the sale of residential mortgage-backed securities.

    News

    Credentials

    Education

    • University of Toronto Faculty of Law, J.D., 2012
    • University of Toronto, M.A., 2012
    • University of Toronto, B.A., 2009

    Bar Admissions

    • New York

    Clerkships

    • Court of Appeal for Ontario, 2012-2013

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