Experience

Financial Services
- A broker-dealer in an NYAG investigation of order flow and execution issues.
- A private equity firm in parallel investigations by the SEC and the N.Y. Attorney General concerning alleged “pay-to-play” payments involving public pension funds.
- A large financial institution in responding to an inquiry from the New York Attorney General in an investigation of another entity.
- ACE, Alliance Capital Management, Amvescap, Forest Labs, Global Crossing, Merck, Teleglobe, MedQuist, Tommy Hilfiger and Westar Energy in domestic and international investigations and parallel proceedings by Federal and State regulatory and prosecutorial offices, including the SEC, various United States Attorney’s Offices and the New York Attorney General, and related civil litigations and class actions, concerning market timing in mutual funds; insurance sales and brokerage issues; alleged tax, accounting, and securities fraud; claims of obstruction of justice; foreign commercial activities; and allegedly improper business practices.
- JPMorgan Chase in investigations by several State Attorneys General and a federal regulator into credit card collections and debt sale practices.
- A national bank in responding to inquiries by the NYAG and DOJ concerning a specialty commercial lending business.
- Prudential Financial, John Hancock Life Insurance Company, AXA Equitable, Guardian Life, Massachusetts Mutual and Teachers in a qui tam complaint, brought under the New York False Claims Act, seeking over $14.5 billion in damages for alleged failures to escheat life insurance benefits to the state. This followed successful representations of each firm in a years-long investigation by the New York Attorney General (NYAG) into the escheatment practices of the life insurance industry, at the conclusion of which NYAG declined to pursue the claims itself.
- JPMorgan Chase Bank, N.A. in civil lawsuits filed by the Massachusetts and New York attorneys general alleging consumer protection violations based upon the bank’s use of the Mortgage Electronic Registration System and allegations that the banks foreclosed without proper standing.
- Insurance clients in investigation and parallel proceedings by state attorneys general concerning insurance sales and brokerage issues, in particular, with respect to allegations of bid-rigging in violation of the antitrust laws.
- JPMorgan Chase in investigations by and settlements with the SEC, Department of Justice and numerous State Attorneys General and securities regulators arising from the underwriting, sponsorship and issuance of residential mortgage-backed securities by affiliates of JPM, Bear Stearns and Washington Mutual Bank.
- A leading insurance company in regulatory inquiries relating to a financial services company's promotion of the insurer's individual life insurance policies.
- A major mortgage servicer in multiple investigations and inquiries by federal and state regulators, including the CFPB, multiple state Attorneys General, and the Multistate Mortgage Committee of state financial regulators, relating to its mortgage servicing practices.
- Kenneth D. Lewis, former CEO of Bank of America, in regulatory matters relating to the Merrill Lynch acquisition, including defense against civil claims brought by the New York Attorney General and various civil securities and derivative cases.
Digital Assets
- A crypto trading business in a New York Attorney General investigation relating to governance and registration issues.
- A crypto trading platform in an investigation by the California Attorney General into its operations and disclosures.
- A digital currency exchange in an NYAG inquiry.
Consumer Products
- A multinational technology company in responding to a civil investigative demand from a state Attorney General’s Office.
- Certain former directors and shareholders of Purdue Pharma, regarding prescription opioid litigation in various fora across the country, including a federal multi-district litigation and actions brought by states attorneys general.
- Toyota Motor Sales USA in various state and federal investigations relating to vehicle acceleration issues. These included 29 state attorney general investigations, congressional inquiries, SEC investigations, and Department of Justice (DOJ) investigations, all of which settled without any criminal convictions for the company.
- A major university in an internal investigation and a NYAG investigation into alleged market manipulation by one of its licensees.
- Prominent consumer technology companies in confidential, successfully resolved state Attorney General investigations of matters involving popular personal electronic devices.
Technology, Media & Telecommunications
- A background screening company in responding to a subpoena from the New York Attorney General related to tenant screening reports.
- A software company in antitrust investigations by state attorneys general concerning its revenue management software.
- A multinational technology company in responding to a civil investigative demand from a state Attorney General’s Office.
- A technology company in a civil investigative demand from the Texas Attorney General regarding reported user base.
- Universal Music Group in the New York State Attorney General’s investigation of radio promotion practices.
- Viacom in a negotiated resolution with the New York State Attorney General relating to compliance of Viacom websites with the federal Children's Online Privacy Protection Act.
- One of the two leading fantasy sports companies in defending against Attorney General actions seeking to prohibit the fantasy sports contests it sponsors as illegal gambling.
- A major Internet service provider in state attorney general investigations regarding online privacy, marketing and safety practices; clients in regular advice on Internet terms of service and privacy policies, online marketing practices and related matters.
Private Equity
- Several private equity firms in investigations by the New York State Attorney General regarding the tax treatment of the firms’ management fees and management fee offsets.
Real Estate
- The co-founder of a real estate capital advisory firm in a NYAG investigation of alleged mortgage fraud.

Enforcement actions pursued by state attorneys general can be difficult for clients, because unlike their federal counterparts, state attorneys general typically have broad jurisdiction over an array of industries. Add coordinated action to the mix, and state attorneys general can seek to impact target companies across the nation. The offices of state attorneys general have taken lead roles in pursuing claims related to security products, technology platforms and social media, opioids, climate change, data privacy, digital assets, and other significant issues. Debevoise has been on the front lines in such matters, representing clients in some of the highest profile matters on these topics. Our strength in both criminal and civil defense and our true partnership between those practices provide clients with the best possible advice in helping them respond to state AGs. Debevoise’s White Collar and Regulatory Defense and Commercial Litigation Groups have deep experience representing clients in investigations and litigation brought by state regulators. Several of our attorneys previously worked for these state agencies, including leadership roles in the New York State Attorney General’s Office. We regularly engage with state regulators to narrow the scope of investigations, negotiate resolutions of investigations and, in those instances where settlement discussions fail, defend clients in litigation brought by state agencies or brought jointly by state and federal agencies. Our attorneys are able to quickly recognize and focus on the issues most relevant to the regulators in order to determine the strategy most likely to achieve the best available outcome for our clients. As a result, Debevoise can guide clients through regulatory investigations, including joint investigations pursued by multiple law enforcement authorities, in a manner that minimizes disruption to business operations and reputational risk.

State Attorneys General

Experience

Financial Services

Digital Assets

Consumer Products

Technology, Media & Telecommunications

Private Equity

Real Estate