Mitchell A. Lowenthal is a partner of Cleary Gottlieb Steen & Hamilton LLP, resident in the firm’s New York office.
Mr. Lowenthal specializes in the prosecution and defense of complex civil litigations, with an emphasis on disputes arising out of securities and M&A transactions. He has been repeatedly recognized by Chambers USA
(2004-2013) as a leading securities litigator, in The Best Lawyers in America
(2005-2014), in The Legal 500 U.S.
(2007-2013), in Benchmark Litigation: The Definitive Guide to America’s Leading Litigation Firms and Attorneys
(2010-2014), in PLC Cross-border Dispute Resolution Handbook
(2011) and in Lawdragon’s 100 Securities Litigators You Need To Know
Recent Successes. Mr. Lowenthal recently succeeded in obtaining the termination of derivative claims asserted against the Board of Directors of American Express, Lankford v. Chenault
, (Sup. Ct. N.Y.Co., July 23, 2013); staying class claims against American Express in favor of arbitration, Shetiwy v. Midland Credit Corporation
, (S.D.N.Y. July 12, 2013); obtaining the dismissal of derivative actions, and related demands for the inspection of books and records, asserted against the Board of Directors of Bank of America, Pinsly v. Lewis
, (S.D.N.Y. April 25, 2013); obtaining the dismissal of Securities Act claims asserted against underwriters of securities issued by The Royal Bank of Scotland, In re Royal Bank of Scotland Group PLC Secur. Litig.
, 2012 WL 3826261 (S.D.N.Y. Sept. 2, 2012), aff’d (2nd Cir. September 25, 2013)
; in scaling down, and then resolving through settlement, claims brought against many dozens of banks who underwrote securities issued by Lehman Brothers, In re Lehman Brothers Securities and ERISA Litig.
, 799 F. Supp. 2d 258 (S.D.N.Y. 2011); (May 2, 2012), aff’d (2nd Cir. October 28, 2013)
; in defeating a preliminary injunction sought by shareholders of Massey Energy to enjoin that company’s now completed merger with Cleary Gottlieb client Alpha Natural Resources, In re Massey Energy Derivative & Class Action Litig.
, 2011 WL 2176476 (Del. Ch., May 31, 2011); in obtaining the dismissal of all Securities Act claims asserted by two hedge fund purchasers of mortgage-backed securities securitized by Countrywide, Footbridge Ltd. v. Countrywide Home Loans, Inc.
, 2011 WL 907121 (S.D.N.Y. Mar. 16, 2011), and all other claims, 2010 WL 3790810 (S.D.N.Y. September 28, 2010); in obtaining the dismissal of all claims asserted by a plaintiff class of securities purchasers against ABN AMRO and J.P. Morgan Securities arising out of their underwriting of mortgage-backed securities, Public Employees' Retirement System of Mississippi v. Merrill Lynch & Co. Inc. et al.
, 2010 WL 4903619 (S.D.N.Y. Nov. 30, 2010) (dismissal with prejudice); in obtaining the substantial dismissal of federal securities law claims asserted by purchasers of capital securities issued by ING Groep N.V., Freidus v. ING Groep N.V.
, 2010 WL 3554097 (S.D.N.Y. September 14, 2010); (September 2012); in defeating the preliminary injunction requested by shareholders of Dollar Thrifty in connection with the proposed Hertz merger, In re Dollar Thrifty Shareholder Litigation
, 2010 WL 3503471 (Del. Ch. September 8, 2010); in defeating all claims asserted by a hedge fund purchaser of equity securities issued by Countrywide Financial Corporation, SRM Global Fund Partnership v. Countrywide Financial Corporation
, 2010 WL 2473595 (S.D.N.Y June 17, 2010); in obtaining the dismissal of all claims asserted by participants in ERISA plans of ING, In re ING Groep, N.V. ERISA Litig.
, 2010 U.S. Dist. Lexis 44238 (N.D.Ga March 31, 2010); in obtaining approval of the settlement between the SEC and Bank of America relating to the bank's merger with Merrill Lynch, SEC v. Bank of America Corp.
, 2010 WL 624581 (S.D.N.Y. February 22, 2010); and in obtaining removal from Texas state court and the dismissal with prejudice of federal and state claims made by purchasers of mortgage-backed securities who alleged that non-compliant mortgages were wrongfully included in the pools, Lone Star Fund (U.S.), L.P. v. Barclays Bank PLC
, 2008 WL 4449508 (N.D. Tex. Sept. 30, 2008), aff'd
, 594 F. 3d 383 (5th Cir. 2010).
Current Assignments. Mr. Lowenthal is currently representing ABB in litigation arising out of its $1.3 billion purchase of Power-One, NFP in litigation arising out of its $1 billion purchase by Madison Dearborn, the Special Committee of Yongye International in connection with Yongye’s agreement to be acquired; a syndicate of banks, inclulding Citigroup Global Markets, Goldman Sachs & Co., and Merrill Lynch, that underwrote securities issued by Bankrate, Inc. in class action litigation; Alpha Natural Resources in connection with its acquisition of Massey Energy and in shareholder class action litigation, and ING in connection with the appeal from the dismissal of claims challenging ING’s issuance of $4.5 billion in hybrid securities.
Mr. Lowenthal has also tried a series of cases under the Securities Investor Protection Act involving a range of issues, including clearing firm liability for acts of introducing brokers, In re Adler, Coleman Clearing Corp., 247 B.R. 51 (Bankr. S.D.N.Y. 1999), aff’d, 263 B.R. 406 (S.D.N.Y. 2001), and securities fraud, In re Adler, Coleman Clearing Corp., 277 B.R. 520 (Bankr. S.D.N.Y. 2002). Mr. Lowenthal has represented SIPA Trustees in the SIPA liquidations of Adler Coleman, Churchill Securities and Parr Securities.
Pro Bono. Mr. Lowenthal has represented numerous clients pro bono publico, primarily in connection with the unique problems of the homeless, including 200 homeless workers denied minimum wage benefits, Archie v. Grand Central Partnership
, 997 F. Supp. 504 (S.D.N.Y. 1998).
Mr. Lowenthal joined the firm in 1981 and became a partner in 1990. He received a J.D. degree, cum laude
, from Cornell Law School in 1981, where he was an officer of the Cornell Law Review. He served as law clerk to the Honorable Edward Weinfeld of the U.S. District Court for the Southern District of New York.
Mr. Lowenthal is a member of the Bar in New York and is admitted to practice before the U.S. Supreme Court, the U.S. District Court for the Southern and Eastern Districts of New York, and the Eastern District of Wisconsin, as well as the U.S. Court of Appeals for the Second, Ninth and Eleventh Circuits. He is the Chairman of the Board of Directors of the Urban Justice Center, a member of the Executive Committee of the Bar Association of the City of New York, a former chair of the Association’s Committee on Securities Litigation (2007-2010), and a member of the American Law Institute. Mr. Lowenthal is also a former member of the Committee on Professional Ethics of the New York State Bar Association.