Diversity & Inclusion
Skadden secured an affirmance in the U.S. Court of Appeals for the Second Circuit of lower court orders dismissing a putative class action against JP Morgan Chase & Co. and three other financial institutions. The plaintiffs —Visa and MasterCard cardholders —alleged that these financial institutions violated state and federal antitrust laws by colluding to fix the interchange fees charged in connection with Visa and MasterCard transactions. In 2013, the U.S. District Court for the Eastern District of New York dismissed the federal claims and declined to assert jurisdiction over the state law claims. The parties cross-moved for reconsideration. On Feb. 24, 2015, the court declined the plaintiffs' motion to reconsider and reaffirmed dismissal of their federal claims. But the court granted the defendants' motion to reconsider by asserting jurisdiction over the plaintiffs' state law claims and dismissing them on the merits.
Skadden is advising Duke Energy on two transactions totaling $2.4 billion: the $1.2 billion sale of its holdings in Brazil to China Three Gorges Corporation and the $1.2 billion sale of its holdings in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina to I Squared Capital Advisors.
Skadden is representing London-based private equity group Doughty Hanson in connection with its $1.65 billion disposal of LM Wind Power to General Electric.
Skadden is advising Pfizer Inc. on its $1 billion sale of its global infusion therapy business, Hospira Infusion Systems, to ICU Medical, Inc.
Skadden represented Hangzhou Liaison Interactive Information Technology Co. Ltd. in its investment in Newegg, Inc.
Skadden advised Ultrapar Participações S.A. in $750 million 10-year senior unsecured bonds issued by Ultrapar International S.A. and guaranteed by each of Ultrapar Participações S.A. and Ipiranga Produtos de Petróleo S.A.
Skadden secured a dismissal in federal court on behalf of its client Chase Bank USA, N.A. and six other payment card-issuing banks in an antitrust class action.
Skadden is advising SBA Communications Corporation on its REIT conversion
Skadden represented Endurance Specialty Holdings Ltd. in its $6.3 billion all-cash acquisition by Sompo Holdings, Inc.
Skadden successfully opposed class certification in a putative securities class action brought against UBS Financial Services Incorporated of Puerto Rico, UBS Trust Company of Puerto Rico and Carlos Ortiz