- Cravath, Swaine & Moore
Cravath, Swaine & Moore LLP Headquarters New York City No. of offices 2 No. of attorneys 500+ attorneys Major practice areas Corporate, Litigation, Tax, Executive Compensation and Trusts and Estates Key people Evan Chesler, Presiding Partner Revenue US$ 569 Million (2009) Date founded 1819 Founder Richard Blatchford and William H. Seward Company type Limited liability partnership Website www.cravath.com
Cravath, Swaine & Moore LLP (“Cravath”) is a prominent American law firm based in New York City, with an additional office in London. The second oldest firm in the country, Cravath was founded in 1819 and consistently ranks first among the world's most prestigious law firms according to a survey of partners, and second among the world's most prestigious law firms according to a survey of associates.
The firm arose from two predecessor firms, one in New York City and one in Auburn, New York. In 1854 these firms merged to form the firm of Blatchford, Seward & Griswold. Name partner Samuel Blatchford later served on the United States Supreme Court. Name partner William H. Seward later served as both governor of and a senator from New York, then became Secretary of State under Presidents Abraham Lincoln and Andrew Johnson. In 1867, he negotiated the purchase of Alaska from Russia in a transaction contemporaries derisively called "Seward's Folly." Paul Drennan Cravath joined the firm in 1899. He instituted the "Cravath System". The system combines a distinctive way of approaching the hiring, training and compensation of lawyers. After a series of name changes, the Cravath, Swaine & Moore name was made permanent in 1944.
Cravath has represented high profile businesses, from United Airlines in its merger with Continental Airlines, the world's largest airline, to Unilever in its acquisition of Alberto Culver. In 2010, its litigation department won summary judgment for Morgan Stanley on its breach of contract claim against Discover Financial Services. In a subsequent settlement, Discover agreed to pay Morgan Stanley $775 million to resolve the litigation. In the same year they successfully represented Barnes & Noble in a landmark "poison pill" trial. Past clients ranged from Samuel F.B. Morse, the inventor of the telegraph to corporations such as IBM, PriceWaterhouseCoopers, and CBS. It also performed the legal work necessary to form NBC. More recent decades have seen Cravath represent Netscape in its antitrust suit against Microsoft, resulting in a $750 million settlement; major merger and acquisition deals, such as the DuPont-Conoco merger, the Ford-Jaguar merger, the Bristol-Myers-Squibb merger, the Time-Warner merger, and the AOL-Time-Warner merger; and two famed libel suits: defending Time Inc. against Israeli General Ariel Sharon, and also defending CBS against U.S. Army General William Westmoreland.
Unlike others, Cravath has remained relatively small. Its approximately 500 lawyers are located primarily in the New York Office, with just a few dozen in the London office, which opened in 1973. Cravath drew attention to its bankruptcy practice on November 10, 2010 by offering free representation in advance of a likely Chapter 9 filing for Harrisburg, PA. 
The firm consistently ranks at or near the top of various industry surveys, such as the Vault.com Partner (#1, 2009) and Associate (#2, 2009) prestige surveys. It consistently ranks within the top 3 on numerous Vault.com specialty rankings, including Antitrust, Corporate, Litigation, Mergers & Acquisitions, Securities and Tax. Chambers and Partners ranks Cravath in its top tier for Banking & Finance, Capital Markets (Debt & Equity), Corporate/M&A, Environmental, Media and Entertainment, Securities and General Commercial Litigation and Tax.
Entry to the firm is highly selective, generally open to only the most academically successful students from the most elite law schools in the United States and Canada.
The firm is known for focusing its hiring on associates straight from law school; lateral hires are rare at the associate level and new partners are almost never taken on. In 2005, Cravath hired Andrew W. Needham, formerly a tax partner at Willkie Farr & Gallagher, as the first lateral partner since Herbert L. Camp, also a tax partner, from the now-defunct Donovan Leisure Newton & Irvine in 1987. Camp, however, had previously been a Cravath associate and is therefore not considered a true lateral because he started his career there; the last true lateral at the firm was Roswell Magill, a former Treasury Department official, who became a Cravath tax partner in 1943. In 2007, the firm brought in Richard Levin from Skadden, Arps to boost its new bankruptcy practice.
Famous current and former employees
- Deborah Batts, New York federal judge
- Samuel Blatchford, U.S. Supreme Court Justice
- William O. Douglas, U.S. Supreme Court Justice and SEC chairman
- John Gleeson, New York federal judge
- Elizabeth Stong, New York federal judge
- Katherine B. Forrest, New York federal judge nominee, S.D.N.Y.
- William Seward, former U.S. Senator and Governor of New York, and U.S. Secretary of State under Presidents Abraham Lincoln and Andrew Johnson
- Richard C. Breeden, activist hedge fund manager and former United States Securities and Exchange Commission Chairman
- Valerie Caproni, Federal Bureau of Inestigation General Counsel
- Kenneth Dam, Deputy Secretary of Treasury, 2001-2003; Deputy Secretary of State, 1982-1985
- Patricia M. Geoghegan, Acting Special Master for Troubled Asset Relief Program Executive Compensation
- Roswell Gilpatric, Deputy Secretary of Defense, 1961-1964; Chairman, Task Force on Nuclear Proliferation, 1964
- Roswell Magill, Treasury Department official
- Alfred McCormack, Director of Intelligence of the Military Intelligence Service and Special Assistant to the Secretary of State
- Timothy G. Massad, Acting Head of the Office of Financial Stability
- John J. McCloy, former Assistant Secretary of War, former president of the World Bank, former adviser to several U.S. presidents
- Frederick A. O. Schwarz, Jr., New York City Corporation Counsel
- John White[disambiguation needed ], SEC Director of Corporation Finance
- Dick Zimmer, former Representative for New Jersey's 12th congressional district and 2008 candidate for U.S. Senate
- Basil O'Connor, head of the March of Dimes
- Robert A. Kindler, Vice Chairman of Morgan Stanley
- Adebayo Ogunlesi, Chairman and Managing Partner of Global Infrastructure Partners
- Adam Silver, NBA Deputy Commissioner and COO
- Bruce Wasserstein, Chairman of Lazard
- Thomas D. Barr, litigator who represented IBM in a 13-year antitrust case
- David Boies, litigator who represented Al Gore in Bush v. Gore, founding partner of Boies, Schiller & Flexner
- Bruce Bromley, famous litigator in the 1950s and 1960s
- James Colliton, convicted felon 
- Robert D. Joffe, antitrust and corporate law expert, key figure behind the AOL-Time Warner merger
- John H. Pickering, founding partner of Wilmer, Cutler & Pickering
- Lloyd Cutler, founding partner of Wilmer, Cutler & Pickering
- John B. Quinn, founding partner of Quinn Emanuel Urquhart & Sullivan
- David Louis Schwartz 
- Aditi Bagchi, professor at University of Pennsylvania Law School
- Jack Balkin, professor at Yale Law School
- John S. Beckerman, Associate Dean at Rutgers Law School-Camden
- Thomas J. Brennan, professor at Northwestern University School of Law
- Lawrence A. Cunningham, professor at George Washington University Law School, editor of The Essays of Warren Buffett: Lessons for Corporate America
- John C. Coffee, professor at Columbia Law School, securities law expert
- Gary Francione, animal rights theorist and professor at Rutgers Law School
- Wulf A. Kaal, professor at University of St. Thomas School of Law (Minneapolis)
- John Leitner, the youngest professor in the history of Seoul National University
- Charles A. Reich, former Yale Law School professor
- Catherine Struve, professor at University of Pennsylvania Law School, reporter to the Judicial Conference Advisory Committee on Appellate Rules
- Suja A. Thomas, professor at the University of Illinois
- ^ "THE AM LAW 100: A Good Year for Cravath". Am Law. http://amlawdaily.typepad.com/amlawdaily/2010/03/al100cravath.html. Retrieved 2010-4-9.
- ^ "Vault Law Firm Rankings". Vault. http://www.vault.com/wps/portal/usa/rankings/individual?rankingId1=40&rankingId2=43&rankings=1®ionId=0&rankingYear=2009. Retrieved 2011-08-18.
- ^ "Law Firm Rankings - 2012 Vault Law 100". Vault. http://www.vault.com/nr/lawrankings.jsp?law2009=12&ch_id=242&ps=1. Retrieved 2011-06-30.
- ^ http://www.marksmarketanalysis.com/2010/11/harrisburg-pa-hires-bankruptcy-attorney.html
- ^ www.vault.com
- ^ Chambers and Partners
- ^ http://www.law.com/jsp/tal/PubArticleTAL.jsp?id=1202448485135
- ^ Cravath Hires Tax Partner, Its First Lateral in Decades
- ^ Cravath starts a bankruptcy practice
- ^ Pace, Eric (1996-03-17). "Rosewell L. Gilpatric, Lawyer and Kennedy Aide, Dies at 89". New York Times. http://query.nytimes.com/gst/fullpage.html?res=9B01E2D61639F934A25750C0A960958260.
- ^ New York Times
- ^ New Yorker
- ^ "Lawyer makes history as youngest SNU professor". JoongAng Daily. http://joongangdaily.joins.com/article/view.asp?aid=2900225. Retrieved 2009-06-19.
- Swaine, Robert T. (2007) . The Cravath Firm and Its Predecessors: 1819-1947. Clark, NJ: Lawbook Exchange. ISBN 1584777133.
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