Thomas C. White

International Disputes and Arbitration

• The Republic of Argentina in a breach of contract action in the Southern District of New York and subsequent appeals to the Second Circuit related to Argentina’s 2012 expropriation of shares in YPF, the country’s largest energy company. In March 2026, S&C persuaded the Second Circuit to vacate an $18 billion judgment (with interest), reversing the largest judgment ever entered in the Southern District of New York.
• The Republic of Argentina in cases relating to the Republic’s issuance of GDP-linked securities in 2005 and 2010
• A leading real estate developer in disputes arising out of capital raised from international investors, including through the DHS’s EB-5 program
• Advising a sovereign concerning the enforcement of arbitral awards
• A British corporation in a London-based arbitration concerning the sale of one of its business units
• A NASDAQ-listed orthopedics company in an ICC arbitration relating to its acquisition of a sports medicine business
• Other ICC disputes relating to earn-outs, and other accounting and tax issues

Accounting and Tax-Related Disputes

• Sumitomo Metal Mining Company and Sumitomo Corporation in a dispute relating to the allocation of tax liability in connection with the sale of an interest in a Chilean mine
• Popular, Inc. in a complex securities class action (and related derivative action) relating to alleged overstatements of deferred tax assets
• Many leading corporations in confidential, post-closing purchase price disputes

M&A Litigation

• DS Smith in litigation arising out of the sale of DS Smith's packaging business to a private equity fund
• Cytec Industries Inc. (now part of the Cytec-Solvay group) in obtaining summary judgment in connection with a dispute arising out of the $1 billion sale of Cytec’s coating resins business
• Other leading international corporations in confidential disputes arising out of high-stakes transactions

ERISA Litigation

• Goldman Sachs in obtaining summary judgment in an ERISA class action challenging the Goldman Sachs 401(k) Plan’s offering of proprietary Goldman Sachs mutual funds
• UBS and several current and former officers and employees in obtaining the dismissal of a putative ERISA “stock drop” class action. This decision was upheld on appeal
• Popular, Inc. in an ERISA class action filed in Puerto Rico challenging the inclusion of the company stock fund in the menu for Plan participants’ investment options
• Advising clients on potential ERISA claims and strategies to minimize ERISA liability

Estates and Personal Litigation

• Successfully obtained summary judgment for the executor and another beneficiary of a will in connection with a cross-border “forced heirship” challenge to the will by another sibling
• The children of an art dealer in proceedings under SCPA 1404 in relation to a will contest
• A high net worth individual in connection with capacity and other challenges to a revised will purporting to “equalize” testamentary gifts
• A granddaughter in a successful mediation relating to a challenge to the validity of a revocable trust

Other Complex Commercial Litigation

• Volkswagen in obtaining the dismissal, affirmed on appeal, of a putative class action in the Northern District of California brought by individuals who purchased and then sold or leased their diesel vehicles before news of the defeat devices became public
• Barclays in obtaining summary judgment for Barclays and the other defendants in a 1933 Act Section 11 class action arising out of Barclays’ April 8, 2008 offering of $2.5 billion of American Depositary Shares, Series 5. The judgment was upheld on appeal
• Fiat Chrysler (now Stellantis) as one of their lead counsel in various actions, regarding allegations of various defects, including that certain of FCA’s diesel vehicles emitted nitrogen oxides in excess of the limits imposed by U.S. law. Work has included class action litigation, opt-out litigation, securities litigation, and litigation with regulators including the EPA and the Department of Justice
• Acted as trial counsel in obtaining a victory for Micro Systems Engineering, Inc. (MSEI), an affiliate of Biotronik, Inc., against Universal Instruments Corp. in a case alleging copyright, trade secret and contractual claims relating to medical devices. Following a six-day jury trial, the court granted MSEI’s motion for judgment as a matter of law, which was upheld on appeal
• UBS and members of its supervisory board and senior management after UBS’s market capitalization declined by nearly $115 billion, following disclosures of UBS’s subprime and auction rate securities losses and its DOJ and SEC settlements relating to U.S. cross-border tax issues. Previously, the S&C team including Mr. White obtained the dismissal of all claims brought by all UBS shareholders who purchased shares on foreign exchanges, which eliminated more than 85 percent of the theoretical damages. In May 2014, the United States Court of Appeals for the Second Circuit affirmed these decisions
• Giants Stadium in its claims in the Lehman bankruptcy concerning swaps used to hedge the risk of financing the new stadium
• Barclays in litigation brought by the Federal Housing Finance Agency, as conservator for Fannie Mae and Freddie Mac, concerning the purchase of RMBS by Fannie and Freddie from Barclays and other financial institutions
• The New York Bankers Association in persuading the Southern District of New York to strike down the “New York City Responsible Banking Act” under the U.S. and New York State constitutions. The RBA had sought to impose city regulation over banks in contravention of the exclusive regulatory power of the federal and state governments
• Syneos Health in obtaining the dismissal of a putative federal securities class action litigation arising out of the merger of INC Research with InVentiv Health