They’ve Got Next: The 40 Under 40 - Stephen Blake of Simpson Thacher

Please describe two of your most substantial, recent wins in practice.
Many securities cases turn on adequate warnings about business trends, but in the Velocity Financial matter, the allegedly undisclosed trend was Covid-19. In drafting our motion to dismiss, I frequently asked myself, “What did I know about COVID on relevant dates?” My clients did not have special insights into the spread of the global pandemic, and we were able to show to the court using public health statements that no reasonable company had the clairvoyance that plaintiffs contended should have colored Velocity’s IPO disclosures.

I previously represented China-based e-commerce ...