JD Journal » Cadwalader

Prominent European Competition Attorney Joins Cadwalader; Will Manage Firm’s New Office in Brussels

rebneely — Thu, 28 Apr 2011 10:38:54 +0000

Alec J. Burnside, a prominent European competition attorney, will join as a partner at Cadwalader, Wickersham & Taft LLP.

Burnside will open and manage Cadwalader’s new office in Brussels.

W. Christopher White, Chairman of Cadwalader, Wickersham & Taft was quoted as saying in a press release at PR newswire: “Alec is recognised as one of the leading competition lawyers in Europe. His attraction to Cadwalader and our investment in him and the opening of an office in Brussels reflect a mutual commitment to fielding the finest global antitrust team practicing today. We welcome him to our Partnership.”

Burnside focuses his practice in EU competition law. Over the past twenty years, he has practiced across a broad range of competition law disciplines. He has regularly worked on high-profile cases with implications for global industries, governments and blue chip corporations.

He is a highly sought after expert in merger clearances, cartel defence, state aid and abuse of dominance with deep sector expertise that spans a wide variety of industries, including financial services, IT, consumer products, energy, and natural resources.

Rick Rule, head of the Antitrust group at Cadwalader was quoted as saying: “To be able to bring on board a solicitor of the calibre of Alec Burnside is a game changer for our global antitrust group. Our ability to service our international corporate clients has just been strengthened considerably and we look forward to growing this global practice.”

Mr. Burnside’s recent and leading transactions include advising Microsoft on its acquisition of Yahoo!’s search function, and SmithKline Beecham on its merger with Glaxo.

Established in 1792, Cadwalader, Wickersham & Taft LLP is one of the world’s leading international law firms.

Morning Roundup

joshua — Fri, 11 Feb 2011 10:53:30 +0000

Good morning everyone! Today is Friday, February 11, and here’s a recap of yesterday’s news…

Fiancial reports for 2010 continue to trickle in, and yesterday we talked about Reed Smith…

The 2012 election cycle is already underway and two more senators have announced their retirement plans…

Cadwalader is going to court to defend itself against a $13 million malpractice claim…

and King & Spalding picked up a 14 attorney team from an Oakland firm…

Cadwalader on a $13 Million Roller Coaster Ride

joshua — Thu, 10 Feb 2011 17:28:15 +0000

Back in 2005 Cadwalader represented Red Zone, an investment company tied closely to Washington Redskin’s owner Dan Snyder, in a proxy fight over Six Flags. Red Zone won the proxy fight and Snyder sat on the theme park company’s board of directors.

Now Red Zone is suing Cadwalader for malpractice. According to Red Zone, Cadwalader negotiated a contract with UBS A.G. that would limit the fees paid to the investment bank to a total of $2 million. Instead, an appellate court has ruled that Red Zone owes UBS a total of $8 million.

Morning Roundup

joshua — Tue, 08 Feb 2011 17:40:46 +0000

Good morning everyone! Today is Tuesday, February 8, and here’s a quick look back at yesterday’s news…

Things appear to be calming down a little in Cairo…

More firms are reporting their 2010 numbers, we have information from Cadwalader and Dechert…

2010 was the slowest year for partner laterals since 2000…

and the January numbers are out from the Labor Department – the legal sector is expanding again…

Revenue Down, Profits Up at Cadwalader

joshua — Mon, 07 Feb 2011 19:06:05 +0000

For the fourth consecutive year, revenues are down at Cadwalader. That’s the bad news. The good news is that profits per equity partner ticked up slightly for the second year in a row.

Unlike many firms that have seen revenues fall while profits rose, Cadwalader did not have any significant cuts to operating expenses in 2010. More specifically, headcount remained relatively static. There were some major cuts in the previous 2 years, but in 2010 the headcount dropped by only three percent. The firm attributes this years per partner profit growth to strategic planning decisions and points in particular at the acquisition of some top talent from other firms early in the year.

Established in 1792, Cadwalader, Wickersham & Taft LLP is one of the world’s leading international law firms, with offices in New York, London, Charlotte, Washington and Beijing. Cadwalader serves a diverse client base, including many of the world’s top financial institutions, undertaking business in more than 50 countries on six continents.

Prominent Healthcare Attorney Joins Cadwalader, Wickersham & Taft

joshua — Thu, 21 Oct 2010 17:54:14 +0000

Tracy E. Miller, a prominent health care lawyer, has joined Cadwalader, Wickersham & Taft LLP as a member of the Corporate Department in the New York Office.

Ms. Miller focuses on health care governance and regulatory affairs, including Board fiduciary matters, conflicts of interest, compliance, and health care quality. As the former General Counsel of a health system of hospitals and nursing homes, she has experience advising CEOs and Boards of Directors of health care organizations. She has also directed legal work in key areas to advance compliance and quality, achieve health system reorganization, and meet the operational needs of health care providers.

In the press release at the firm’s site, Paul Mourning, a corporate partner in the Health Care, was quoted as saying: ”Tracy’s arrival strengthens our practice in so many ways. Not only has she played a leadership role in health care policy and practice, but she is a terrific person who will be an indispensible player on our team.”

Before joining Cadwalader, Ms. Miller served as Executive Director of the Center for Health & Pharmaceutical Law and Policy at Seton Hall Law School. There, her work focused on conflicts of interest in the relationship between industry and medicine. From 2002-2007, she served as General Counsel of the Catholic Health Care System. Ms. Miller is also the former Vice President of Quality and Regulatory Affairs at the Greater New York Hospital Association and the founding Executive Director of the New York State Task Force on Life and the Law, a 25-person task force convened by then Governor Mario Cuomo to devise law and policy on issues posed by medical advances. Ms. Miller has authored numerous articles in the health care field and has been a frequent speaker at national and state medical, legal, and civic organizations. She received her undergraduate degree from Brown University magna cum laude, and her J.D. from Harvard Law School, cum laude.

Morning Roundup

joshua — Wed, 22 Sep 2010 16:19:41 +0000

Good morning everyone! Today is Wednesday, September 22nd. Here’s a quick recap of yesterday’s stories.

Dinsmore & Shohl welcomed former Deputy General Counsel for EPA…

A former Kennedy Chief of Staff Returned to WilmerHale…

A Thompson Hine Partner was reappointed to the Cincinnati State Technical and Community College board of trustees…

A Greenberg Traurig partner was named co-chair of the ABA Committee…

Cadwalader announced the launch of the Cadwalader International Law and Litigation Center…

48 Winstead PC Attorneys were selected as Texas Super Lawyers…

Morning Roundup

joshua — Wed, 14 Jul 2010 10:47:10 +0000

Good morning everyone! Today is Wednesday, July 14th. Here’s a quick recap of yesterday’s stories.

DLA Piper was ranked first by deal volume in global mergers and acquisitions in the first half of 2010…

A Cadwalader partner earned M&A Advisor Honor…

Reed Smith added four partners to its energy group…

Brownstein added two new partners to its practice…

The Senate Judiciary Committee delayed a preliminary vote on Supreme Court nominee Elena Kagan…

The Gibson law firm introduced a BP claims service…

Former U.S. Senator and HUD secretary Mel Martinez left DLA Piper for JP Morgan Chase & Co…

Cadwalader Partner Earns M&A Advisor Honor

joshua — Tue, 13 Jul 2010 21:56:01 +0000

Peter Friedman, a partner in the financial restructuring department of Cadwalader, Wickersham & Taft LLP, has been named one of the “40 Under 40″ by The M&A Advisor. He will be recognized at an awards ceremony on July 26 in Los Angeles that will celebrate 40 leading corporate, M&A, financing and turnaround professionals who have made significant accomplishments before their fortieth year.

Winners were chosen from a pool of international nominees by an independent judging panel of distinguished business leaders.

Friedman was recognized for his role as a senior member of Cadwalader’s team in its successful representation of the U.S. Department of Treasury and the Presidential Task Force on the Automobile Industry in the historic Chrysler and General Motors bankruptcies. He was also instrumental in advising petrochemical giant LyondellBassell in its recent international restructuring.

“Peter is an outstanding lawyer who has been involved in some of the most challenging and highly publicized bankruptcy matters of the past year,” stated Christopher White, Chairman of the firm. ”We are proud of his achievements and congratulate him on this honor.”

M&A Advisor facilitates connections and recognizes the achievement of top performers in the M&A, turnaround and financing industries through its events and awards galas, M&A Alerts newsletter, and online communities.

Morning Roundup

joshua — Thu, 08 Jul 2010 11:32:39 +0000

Good morning everyone! Today is Thursday, July 8th. Here’s a quick look back at yesterday’s stories.

Cadwalader named a new co-chair of its Litigation Department…

Former U.S. Sen. John E. Sununu, R-N.H., joined Akin Gump Strauss Hauer & Feld LLP…

The World Economic Forum named Greenberg Traurig’s James Bacchus to its Global Agenda Council on Trade…

McKool Smith added three attorneys to its Bankruptcy Practice…

Chadbourne & Parke announced it would open an office in Sao Paolo, Brazil…

Dykema Gossett PLLC hired marketing expert…

Head of Simpson Thacher & Bartlett’s global M&A team,will leave to become chief legal officer of The Blackstone Group…

Donovan & Yee LLP added two partners…

Cadwalader Names New Co-Chair of Litigation Department

joshua — Wed, 07 Jul 2010 20:26:53 +0000

Cadwalader, Wickersham & Taft LLP has named Louis M. Solomon co-chair of the firm’s 180-lawyer litigation department. He will manage the group with Gregory A. Markel.

Solomon, considered a leading trial lawyer, has represented clients in many high-profile disputes, including antitrust, intellectual property, class action, and government and regulatory proceedings. He has also litigated cases involving multiple international jurisdictions including the EU, Russia, Latin America, Asia, Africa, and the Middle East.

Solomon also serves as chairman of the firm’s commercial and international litigation group.

“We are pleased that Lou is assuming a prominent role at the firm. Lou brings to this position a record of successful management initiatives and years of leadership experience,” said Christopher White, Cadwalader chairman.

Cadwalader Wickersham & Taft was established in 1792 and is the oldest continually operated law firm in the United States. The firm also has international offices in London and Beijing.

Cadwalader Cleans Up at Atlas Awards

joshua — Wed, 23 Jun 2010 01:05:38 +0000

Cadwalader Wickersham & Taft’s advisory work on the General Motors bankruptcy reorganization was among several transactions the firm earned top honors for at the Global M&A Network Turnaround Atlas Awards in Chicago.

In addition to the GM restructuring, which was named the Chapter 11 Reorganization of the Year ($5 billion plus), the firm also took the Special Situation M&A Deal of the Year ($500 million plus) for their work on the reorganization and sale of Chrysler to Fiat S.p.A.

Leading the Cadwalader team on those deals was John Rapisardi, the firm’s financial restructuring department co-chair, who represented the U.S. Department of Treasury and Presidential Auto Task Force.

Also winning for Cadwalader was the Landsource Communities Development LLC transaction, which was named Chapter 11 Reorganization of the Year ($1 billion plus); the pre-packaged Chapter 11 Reorganization of the Year ($1 billion plus) for CIT Group; and the Delphi Corporate Turnaround Deal of the Year ($5 billion plus).

Cadwalader, again led by Rapisardi, advised the U.S. government on CIT and Delphi.

Cadwalader, Wickersham & Taft LLP, established in 1792, is one of the world’s leading international law firms, with offices in New York, London, Charlotte, Washington and Beijing.

Baker & McKenzie Replaces Skadden Atop AM Law 100

joshua — Thu, 29 Apr 2010 17:00:55 +0000

American Lawyer released its top 100 law firms Thursday and, as it notes in its summary of the rankings, things certainly could have been worse in 2009. Profits per equity partner, which increased 0.3 percent last year to $1.26 million, was the lone category that showed improvement of the rankings’ four traditional measuring sticks. And while gross revenue, head count and revenue per lawyer were all down, “the bad results weren’t nearly as dire as many firms had feared just a year ago, American Lawyer reports.

Taking a closer look at the four categories we find that Baker & McKenzie was the highest revenue-grossing firm last year with just over $2.1 billion. It supplants Skadden to take the top spot for the first time since 1994. Eleven firms topped $1 billion in gross revenue, including K&L Gates, which reached the level for the first time.

Overall, total revenue was off by 3.4 percent, with the firms grossing a total of $64.8 billion, down roughly $2.3 billion from the prior year.

More than half, 56 firms, showed drops in revenue per lawyer, which the report notes is “our best measure of a firm’s financial health.” Debevoise & Plimpton had the biggest decline at 19.1 percent, which dropped them out of the top 10.

Revenue per lawyer was down $15,697, to $802,381, a 2 percent fall. This was the second consecutive year in which RPL fell.

A total of 54 firms reduced their head counts last year, cutting more than 3,000 lawyers overall.

As for profits per partner, 16 firms had PPP exceeding $2 million in 2009. That is the same number as 2008, though that group has seen some changes. Cadwalader, Wickersham & Taft and Davis Polk & Wardwell replaced Debevoise & Plimpton and Dechert in that group.

The Top 10 firms based on revenue:

Baker & McKenzie, $2.11 billion

Skadden, $2.10 billion

Latham & Watkins, $1.82 billion

Jones Day $1.52 billion

Kirkland & Ellis $1.43 billion

Sidley Austin, $1.35 billion

White & Case, $1.3 billion

Weil Gotshal, $1.23 billion

Greenberg Traurig $1.17 billion

Mayer Brown, $1.12 billion

Cadwalader Gains DLA Piper Practice Head

joshua — Thu, 22 Apr 2010 19:32:00 +0000

Drew G.L. Chapman, who served as head of DLA Piper’s alternative asset management group in New York, has left the firm for Cadwalader, Wickersham & Taft, where he will serve as a partner in the firm’s corporate department.

Chapman is a prominent alternative investment, asset management and securities industry attorney whose clients include some of the world’s largest and best known hedge funds, private equity funds and management firms, Cadwalader said in a press release. His practice focuses on transactions of all types, including mergers, acquisitions, dispositions, fund formation, restructurings and activist investing.

“There is a significant opportunity at the upper end of the legal services industry to create a holistic practice representing hedge funds and other alternative asset managers on their most complex matters,” he said. “I am excited to be at Cadwalader, where I am among sophisticated, experienced and creative legal talent that can provide deal-focused, high-intensity commercial counsel for the global alternative asset management industry.”

Cadwalader was founded in 1792 and has offices in New York, London, Charlotte, Washington and Beijing.

Law Firm Hirings, Firings and Promotions

joshua — Tue, 20 Apr 2010 22:48:38 +0000

Alec Alexander, who served as an assistant U.S. Attorney for the Western District of Louisiana from July 2002 thru April 2010, has joined Jones Walker’s office in Lafayette, La. as a special counsel in its business and commercial litigation practice group. Alexander’s practice focuses on corporate health care compliance, government and internal corporate investigations, and white collar criminal matters…

Ugo Colella has returned to Patton Boggs after 3 ½ years at Katten Muchin Rosenman. He previously was with Patton Boggs from 2000 thru 2006. Colella represents companies in civil litigation, with an emphasis on business-related disputes and mass torts…

Jem Li, an attorney in Cadwalader, Wickersham & Taft’s corporate mergers and acquisition department in Beijing, has been promoted to partner. Li’s practice focuses on capital markets and corporate transactions…

Greenberg Traurig has made Meital Stavinsky of counsel to the firm. Stavinsky previously was the Israeli Business Consultant for Greenberg Traurig’s Israel practice. She will continue to direct the activities of that practice…

Winston & Strawn has added attorney Wood W. (Woody) Lay to its Charlotte office from Hunton & Williams, where he led its Charlotte labor and employment practice. Lay’s practice focuses labor and employment law issues with an emphasis on employment, ERISA, non-competition and trade secret litigation…

Thomas Whitelaw announced Melissa Yoon has joined the firm’s Irvine office as senior counsel. Yoon previously practiced at Jones Day and before that was at Morrison & Foerster, where she handled employment and complex commercial litigation.

Cadwalader Earns Two Communitas Awards for Pro Bono Work

joshua — Tue, 20 Apr 2010 22:20:09 +0000

Cadwalader, Wickersham & Taft has been honored with a pair of Communitas Awards for excellence in community service and corporate social responsibility, the firm said in a press release.

The firm was recognized for two of its longstanding pro bono programs, Working with Immigrants and the Not-For-Profit Incubator. The Communitas Awards, an outgrowth of the Association of Marketing and Communication Professionals (AMCP), is an international effort to recognize businesses, organizations and individuals “that are changing how they do business to benefit their communities,” according to its Web site.

In its Working with Immigrants program, Cadwalader brings legal services to “marginalized groups.” The firm has worked in the areas of asylum, Special Immigrant Juvenile Status and Violence Against Women Act Self-Petitions.

Under the umbrella of the Not-for-Profit Incubator, Cadwalader attorneys have incorporated, advised, and obtained tax-exempt status for dozens of not-for-profit organizations.

“We are proud that our organization and our talented attorneys have been recognized as Communitas winners,” said Christopher White, the chairman of Cadwalader. “We hope that by giving our time, skills, and resources, we help benefit and enrich not only the individuals who require our legal assistance but our communities as a whole.”

Cadwalader, Wickersham & Taft was established in 1792 and has offices in New York, London, Charlotte, Washington and Beijing.

Law Firms Dealing With Mandatory Retirement Policies

joshua — Mon, 19 Apr 2010 17:30:42 +0000

The recent discrimination suit filed by the Equal Employment Opportunity Commission against Kelley Drye & Warren because of its mandatory retirement policy has brought the controversial mandate back into focus. The Washington Post touched on the subject in a report out Monday.

In the story, Greenberg Traurig partner Leslie Corwin called the provision “one of the biggest issues facing the legal profession and other professional service firms today.”

When the American Bar Association recommended law firms end mandatory retirement policies back in 2007, several firms heeded the advice, according to the report, including Cadwalader Wickersham & Taft, Dewey & LeBoeuf, Pillsbury, and K & L Gates. Kelley Drye joined the ranks last week when it announced it had dropped its mandatory retirement policy in the face of the EEOC lawsuit.

According to the report, only 38 percent of firm leaders who have set retirement ages felt it should be enforced. The story goes on to note industry experts believe firms are liable “to pay the price when partners forgo retirement benefits to defect to competing firms and take their clients with them.”

The New York Law Journal lists several New York firms that still have mandatory retirement. They include Cravath, Swaine & Moore, which has a retirement age of 65; Weil Gotshal & Manges has 68 as its mandatory retirement age; Paul Weiss lists the age at 70; and at Willkie Farr, the age is 65.

Cadwalader Nabs Four from Proskauer Rose

joshua — Thu, 18 Mar 2010 16:41:54 +0000

Cadwalader, Wichersham & Taft has bolstered its litigation department with the addition of four attorneys from Proskauer Rose LLP. Joining the firm are Louis M. Solomon, Hal S. Shaftel, Colin A. Underwood and Michael S. Lazaroff. All will be resident in Cadwalader’s New York office.

Solomon takes over as vice chairman of the firm’s litigation department and head of its commercial and international litigation practice group. He held similar roles while at Proskauer.

“Lou Solomon and his team exemplify Cadwalader’s commitment to provide our clients with the profession’s top talent in areas where they face their most significant legal challenges,” said firm Chairman Christopher White in a press release. “They have stellar records across a range of major complex commercial disputes and extensive trial experience. The team also has unmatched expertise in litigation with international dimensions, which is increasingly critical in a complex global economy.”

Solomon has been internationally recognized for his successful representations in complex litigation matters and high profile disputes, including antitrust, intellectual property, class action and government and regulatory proceedings. He has litigated cases involving multiple international jurisdictions including the EU, Russia, Latin America, Asia, Africa and the Middle East.

“The addition of Lou and his colleagues strengthens the core disciplines within our litigation practice,” said Gregory A. Markel, chairman of Cadwalader’s litigation department. “Their experience in international and commercial litigation adds both scope and depth to our existing high-performing teams.”

Shaftel litigates complex commercial cases and his clients include major companies and individuals in the financial services, biotechnology, and professional sports and entertainment industries. He previously was a partner at Proskauer and head of the department’s private funds practice group.

Underwood is a litigator with a focus on intellectual property and antitrust law. He previously was co-head of Proskauer’s antitrust practice group.

Lazaroff previously served with Underwood as co-head of Proskauer’s antitrust practice group. He focuses on private and government antitrust litigation, antitrust counseling, and representing corporations and individuals in both civil and criminal government investigations.

Cadwalader, Wichersham & Taft was founded in 1792 and does business in more than 50 countries on six continents. It has offices in New York, London, Charlotte, Washington and Beijing.

Morning Roundup

joshua — Thu, 21 Jan 2010 12:19:41 +0000

Good morning! Today is Thursday, January 21, and here’s a quick recap of yesterday’s stories…

Sidley Austin added an attorney in its new Palo Alto office…

Wilson Sonsini laid off 20 staff…

Fulbright & Jaworski promoted seven new partners…

Goodwin Procter thawed salaries and paid bonuses…

McKenna Long & Aldridge picked up another former congressman…

Jones Walker added three to its banking practice…

There’s a new firm, catering to the hospitality industry…

The numbers are in, and Cadwalader partners did very well…

Brisbois Bisgaard & Smith doubled their New York office space…

and the 90 year old former Manhattan DA has joined Wachtell Lipton…

Cadwalader Offering Contract Work for Associates on Sabbatical

Erik Even — Fri, 31 Jul 2009 16:26:29 +0000

Earlier this month, Cadwalader told 34 junior associates they could accept a one year, unrestricted sabbatical. or leave the firm.

Now the firm has announced it is offering the laid off associates jobs with the firm, as contract lawyers. The jobs would pay between $45 and $65 per hour.

In May, Cadwalader was the number one AmLaw 200 firm in layoffs.

Cadwalader, Wickersham & Taft LLP is the oldest continuously-operated law firm in the United States. Established in New York City in 1792, Cadwalader is now one of the leading financial law firms in the world. It has offices in London; Charlotte, North Carolina; Washington, DC; and Beijing, China.

Cadwalader Offers Sabbaticals to 34 Associates

Erik Even — Tue, 07 Jul 2009 19:12:45 +0000

Cadwalader, the AmLaw 200 firm that leads in percentage laid off, has asked 34 junior associates to accept a one year, unrestricted sabbatical.

The sabbaticals target lawyers in the Capital Markets and Real Estate Finance groups in New York and North Carolina. Participating lawyers will get one-third of their current compensation, plus medical benefits.The firm intends to rehire these associates after a year, but no guarantees are being made.

Those who turn down the sabbatical option will get three months full severance.

A committee of partners and senior administrators will attempt to place these lawyers with clients, prospective clients, and not-for-profit organizations.

Many Firms Involved in LyondellBasell Bankruptcy Proceedings

Erik Even — Thu, 26 Feb 2009 05:06:16 +0000

In the wake of chemical giant LyondellBasell filing for Chaptel 11, several top firms in the United States and the United Kingdom find themselves involved.

Cadwalader Wickersham & Taft has secured a leading role for the company in the US, with financial restructuring group heads Deryck Palmer and John Rapisardi leading the team. In the UK, LyondellBasell has procured Clifford Chance for advice. That team is led by the head of restructuring, Mark Hyde.

Creditors involved in the case, both in the US and the UK, have secured firms such as Freshfields Bruckhaus Deringer, Ashurst, Simmons & Simmons, Bingham McCutchen, Latham & Watkins and Milbank Tweed Hadley & McCloy.

Lyondell Chemical, the company’s US arm, filed for Chapter 11 in January. It did not include most of the groups operations in Europe. The decision was made to avoid having the company’s European assets liquidated.

Ashurst head of restructuring Nick Angel said: “As a generalization, an insolvency process almost anywhere in the world is to be avoided because it damages value. This is especially true where you have the prospect of different insolvency processes in different countries but it is less true for the US, where Chapter 11 processes are more readily accepted.

“What has happened here illustrates the difficulty in dealing with international groups because Chapter 11 will not be recognized throughout the world and there is no alternative worldwide process for insolvency.”

Google Faced With Antitrust Lawsuit

Erik Even — Wed, 25 Feb 2009 00:14:02 +0000

TradeComet.com LLC, a New York-based company, claimed in federal court on Tuesday that Google Inc. violated antitrust laws by raising a subsidiary’s advertising rates after deciding the subsidiary was a competitor.

In its suit in the U.S. District Court for the Southern District of New York, TradeComet.com claims that Google initially supported SourceTool.com, TradeComet’s subsidiary. SourceTool.com is a business-to-business search engine that connects suppliers of industrial products to buyers. Google eventually deemed SourceTool.com a competitior, and according to TradeComet.com, raised its search advertising rates by 10,000 percent “with no notice.”

A Google spokesman said in a statement that, “We have not yet had a chance to review the complaint in detail, but, as we have consistently made clear, the advertising market in which Google operates is highly competitive, and advertisers have a huge range of choices.”

TradeComet.com is represented by the law firm Cadwalader, Wickersham & Taft LLP. Rick Rule, of Cadwalader said in a press release that “We believe this complaint has strong merit and represents a serious antitrust violation.”