Matthew A. SchwartzPartner
Matthew Schwartz is a partner in the Firm’s Litigation Group. He joined the Firm in 2007 after clerking for Justice Samuel A. Alito, Jr. of the U.S. Supreme Court. He was elected partner in 2011.
Mr. Schwartz’s wide-ranging practice comprises complex litigation, arbitration, and government investigations in the areas of securities law, mergers and acquisitions, derivative suits, antitrust, bank regulation, contracts, estates, and general commercial litigation. He has represented some of the world’s leading corporations, financial institutions, and industry organizations, including Barclays, Cablevision, Giants Stadium, Goldman Sachs, JPMorgan Chase, Kinross Gold, Kohl’s, the New York Bankers Association, The Clearing House, Popular, and UBS.
Rankings and Recognitions
- New York Super Lawyers (2013)
- The Legal 500 United States (2012, 2014, 2015)
- Law360's Rising Stars for Securities (2015)
- Recognized, National Law Journal’s 2014 Appellate Hot List
- Recognized by Best Lawyers in America as “a sharp, exceptional advocate”
SELECTED REPRESENTATIONSClass Action and Derivative Litigation
- Represents Barclays in numerous putative class actions concerning Barclays’ dark pool. Obtained dismissal of separate putative class actions in New York and California federal court brought by Barclays’ dark pool customers.
- Represents Banco Popular and Popular Securities in a putative class action concerning Puerto Rican mutual funds. Obtained dismissal of all tort claims.
- Represents Barclays in putative antitrust class action litigations concerning FX.
- Represents Kohl’s corporation and current executives in a putative securities class action concerning Kohl’s restatement of its financials.
- Represented Goldman Sachs in obtaining dismissal of aiding and abetting breach of fiduciary duty claims in separate M&A litigations.
- Represented members of Cablevision’s compensation committee in successfully obtaining dismissal of a derivative action in the Chancery Court of Delaware concerning Cablevision’s executive compensation practices. The decision was the first to rule that the business judgment rule applies to an independent committee’s decision concerning executive compensation for a controlling stockholder.
- Represented UBS and former officers and directors in obtaining the dismissal of putative securities class action concerning allegations about UBS’s mortgage-related and auction rate securities losses and its DOJ and SEC settlements relating to UBS’s U.S. cross-border tax issues. Plaintiffs sought damages amounting to almost all of UBS’s market capitalization decline—nearly $115 billion—during the financial crisis. Previously, Mr. Schwartz obtained the dismissal of all claims brought by all UBS shareholders who purchased shares on foreign exchanges, eliminating more than 85% of the theoretical damages. These decisions were upheld on appeal, in a decision establishing that the protections of NAB v. Morrison apply to stock that is listed on a U.S. exchange but is purchased abroad.
- Represented 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.
- Represented Cablevision and current and former executive officers in obtaining the dismissal of a putative securities fraud class action concerning statements about the causes of Cablevision’s decline in net video subscribers in certain quarters.
- Represented Kinross Gold Corporation and former executives in a putative securities class action concerning the development of a gold mine in Mauritania.
- Represented Goldman Sachs in securities class actions arising from the tech bubble.
- Represented Penn West Petroleum in a putative securities class action concerning Penn West’s restatement of its financials.
Complex Litigation and Arbitration
- Represented UBS in obtaining dismissal of a $500 million breach of contract claim.
- Represents Goldman Sachs in numerous court cases and FINRA arbitrations concerning auction rates securities. Mr. Schwartz also obtained injunctions against numerous FINRA arbitrations, including victories in the 2nd and 9th Circuits, and dismissal of all claims in the Eastern District of Michigan and Southern District of New York.
- Represents Barclays in litigation concerning the termination of total return swaps.
- Represented Giants Stadium in its claims in the Lehman bankruptcy concerning swaps used to hedge the risk of financing the new stadium.
- Represented various plaintiffs in an action to recover fees improperly taken by the plaintiffs’ principals in relation to numerous commercial real estate buildings across the United States.
- Secured dismissals of lawsuits in New York and Florida brought against UBS by purchasers of CDOs.
- Represents Goldman Sachs in various M&A litigations.
- Represented the New York Bankers Association successfully 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.
- Represents The Clearing House in filing numerous amici briefs on cases important to the financial industry.
Governmental and Regulatory Investigations and Other Advisory Work
- Advises clients on Madden/Midland and True Lender issues.
- Provides ongoing regulatory advice to The Clearing House Association LLC on domestic regulatory and litigation issues.
- Represents a financial institution in investigations by the Office of Foreign Assets Control.
- Advised UBS on regulatory inquiries and investigations brought by the SEC in connection with the financial crisis.
- Represents a company in regards to a confidential SEC investigation.
Mr. Schwartz is a member of the Firm’s wills clinic, which provides pro bono legal advice on the drafting and execution of wills, powers of attorney and health care proxies.
Other Professional Activities
- Member, New York State Bar Association Committee on Standards of Attorney Conduct
- Member, Federal Bar Council
- Member, New York City Bar Association Professional Ethics Committee
- Member, American Bar Association