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Jacob M. Croke

Partner

Jacob M. Croke

Partner
New York +1-212-558-4000+1-212-558-4000 +1-212-558-3588+1-212-558-3588
[email protected]
Jacob Croke is a partner in Sullivan & Cromwell’s Litigation Group. His practice focuses on advising financial institutions and other major companies in complex civil litigations, regulatory proceedings, and internal investigations.
 
Jake has represented clients in connection with a wide variety of matters in federal and state courts and in arbitration proceedings, including securities and derivative litigations, matters related to structured financial products, M&A-related disputes, and the acquisitions of assets from failed financial institutions. He also has represented corporate and individual clients before the Department of Justice, the Securities and Exchange Commission, the United States Senate, state attorneys general, and other governmental bodies. Jake also has advised companies, individuals, and boards of directors in matters involving short seller allegations, digital currencies, consumer lending, whistleblower claims, SPACs, bank regulatory issues, mortgage-backed securities, data privacy issues, alleged benchmark interest rate manipulation, tax issues, and alleged insider trading.
 
Jake’s pro bono work includes arguing a criminal appeal before the New York Appellate Division, Second Department as an Assistant District Attorney and representation of an indigent defendant in federal court pursuant to the Criminal Justice Act.
 
Jake has been recognized as a New York Super Lawyers “Rising Star” in Business Litigation (2017, 2018) and Securities Litigation (2019, 2020, 2021).
 
Selected Publications
  • “Derivative Actions by Stockholders,” Business and Commercial Litigation in Federal Courts, Fifth Edition,
    co-author with Garrard Beeney, Brian Frawley and Bill Monahan (2021).


SELECTED REPRESENTATIONS

  • Goldman Sachs in connection with its $5.1 billion global settlement with the Department of Justice, the New York, Illinois and California Attorneys General, the National Credit Union Administration and the Federal Home Loan Banks of Chicago and Seattle, resolving claims regarding Goldman’s structuring, underwriting and sales of residential mortgage-backed securities.
  • Tiffany & Co. as plaintiff in Delaware Chancery Court litigation against LVMH Moet Hennessy Louis Vuitton, seeking to compel LVMH to complete its agreed-upon acquisition of Tiffany. LVMH ultimately completed its acquisition of Tiffany for approximately $16 billion in January 2021.
  • UBS AG in an ongoing civil action by the Department of Justice alleging that UBS violated FIRREA in connection with $41 billion of residential mortgage-backed securities.
  • Goldman Sachs in obtaining summary judgment dismissing class action fraud claims brought by investors alleging losses exceeding $2 billion in two CDO transactions.
  • Banco Popular de Puerto Rico in $300 million arbitration disputes with the FDIC regarding loans purchased from the FDIC as receiver of a failed bank.
  • UBS AG in connection with an investigation by a consortium of state attorneys general regarding alleged benchmark interest rate manipulation.
  • Goldman Sachs in a trust instruction proceeding in Minnesota state court involving a synthetic CDO.
  • An electric vehicle company in connection with responding to short seller allegations and related regulatory inquiries and litigations.
  • A major digital currency exchange in connection with a non-public regulatory inquiry.
  • A major financial institution in connection with a wide range of non-public regulatory and criminal investigations involving alleged insider trading, whistleblower claims and other issues.
  • A major hedge fund in connection with an internal investigation into high-profile misconduct allegations.
  • A major automotive company in connection with a commercial dispute regarding a risk-sharing agreement.
  • ​A major financial institution in connection with stress test planning and related bank supervisory matters.
  • A major hedge fund in connection with investments in structured products and other regulatory matters.
  • A major financial institution in connection with an SEC investigation resulting in a declination after receiving a Wells Notice.