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Cooley Lands Veteran Securities Litigator Aric Wu from Gibson

April 20, 2021, 10:01 AM

Cooley is expanding its securities litigation practice with the addition of partner Aric Wu, formerly of Gibson Dunn & Crutcher.

Wu, who started with the firm on Monday, will focus on securities litigation, corporate control contests, and other complex litigation in Cooley’s New York office.

“We have a robust securities litigation practice and we’ve been growing that on the East Coast,” Luke Cadigan, Cooley’s head of business litigation for the East Coast, said in an interview. “We have quite a few clients in the high tech and life sciences, and we’re expecting to grow that.”

The hire comes after the firm earlier this month added Sonia Nath from the U.S. Food and Drug Administration’s chief counsel’s office and two other big firm lawyers to its business litigation and healthcare regulatory practice groups.

Wu’s experience includes representing clients across various industries in securities class actions, shareholder derivative litigation, mergers and acquisition battles, and SEC investigations and enforcement proceedings.

He has represented a number of major banks, including Deutsche Bank, JP Morgan, Credit Suisse and Goldman Sachs. He represented UBS in a case brought by Royal Park Investments involving the purchase of $434 million in mortgage-backed securities.

“His track record of successfully defending against securities class actions, coupled with his background in activist shareholder and takeover disputes, will greatly benefit our clients,” Patrick Gibbs, head of Cooley’s securities litigation group, said in a statement.

Sarah Lightdale, a Cooley complex commercial disputes partner, said in an interview, that “shareholder litigation activity has been at an incredibly high level, whether it’s clinical trial outcomes, merger and acquisitions or SPAC (special purpose acquisition company) activity. At every juncture, shareholders can sue, and our clients are very aware of that. “

Cooley recently successfully defended officers of computer systems design services company Nvidia Corp. against a securities fraud class action in the U.S. District Court for the Northern District of California.

Last year, the firm won a case for Meredith Corp. in a securities fraud class action involving the acquisition of Time Inc. The case, in the U.S. District for the District of Iowa, claimed that Meredith and its executives made false statements about the progress of the two companies’ integration. Both cases are on appeal.

Wu has represented a number of major banks, including Deutsche Bank, JP Morgan, Credit Suisse and Goldman Sachs. He represented UBS in a case brought by Royal Park Investments involving the purchase of $434 million in mortgage-backed securities.

“Cooley is a very good fit,” Wu said in an interview. “I’m looking forward to building out its securities litigation platform on the East Coast.”

Cooley’s securities litigation practice has more than 65 trial lawyers, including former federal and state prosecutors, and specializes in defending issuers in shareholder litigation.

To contact the reporter on this story: Elizabeth Olson at egolson1@gmail.com
To contact the editor on this story: Chris Opfer at copfer@bloombergindustry.com;
John Hughes at jhughes@bloombergindustry.com

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