Wall Street Powerhouse Paul, Weiss Named The American Lawyer's 2025 Specialty Litigation Department of the Year for Financial Services

The challenge in disrupting a business is preserving the parts which can continue to generate growth. 

In 2008, when Brad Karp was voted in as chair of Paul, Weiss he navigated that balance. He had "inherited" what was essentially an old-line Wall Street litigation law firm. Yet Karp recognized to remain a dominant force in the New York City legal market he would have to expand into transactional services. 

Karp explained on the podcast "Law Disrupted," hosted by John Quinn, he did that very carefully. Initially he picked what he knew would be wins, such as restructuring. You need wins to reassure constituencies - external and internal - that the strategy is on-the-money. Currently there are 25 transactional practices.

Simultaneously he nurtured the growth of litigation. Currently there are 26 practices. Financial services litigation still is associated with the Paul, Weiss brandname. Recent court wins include for Goldman Sachs a $13 billion securities class action victory and for crypto companies several positive outcomes.

A testament that Paul, Weiss has managed to not only hold onto but enhance its identity as a prominent Wall Street litigation firm is this: The American Lawyer named it the 2025 Specialty Litigation Department for the year for financial services.

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