First up are lawyers at Bernstein Litowitz Berger & Grossmann and Cohen Milstein Sellers & Toll, the co-lead counsel in shareholder litigation against Wells Fargo & Co. claiming the bank misled investors about reforms after its 2016 fake accounts scandal. The bank this week agreed to pay $1 billion, which would be one of the 20 largest shareholder settlements of all-time if approved. The deal got preliminary sign-off from U.S. District Judge Gregory Woods in Manhattan within 24 hours of filing. The Bernstein Litowitz team includes Max Berger, who led settlement negotiations, John Browne, Jeroen van Kwawegen, Hannah Ross, Jonathan Uslaner and senior associate Lauren Cruz. The Cohen Milstein team includes Steven Toll, Laura Posner and Molly Bowen.
A team at Cravath, Swaine & Moore led by partners David Marriott and David Kappos got a groundbreaking win for photographers Donald Graham and Eric McNatt in their copyright showdown with celebrity appropriation artist Richard Prince and his associated galleries. U.S. District Judge Sidney Stein in Manhattan last week denied Prince’s fair use defense for incorporating the photographers’ work in his “New Portraits” series, which took copies of the photographs posted to Instagram alongside his own comments and printed them on canvas.
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