Gary P. Naftalis
Encyclopedia
Gary P. Naftalis is a leading American trial
lawyer, and serves as head of the litigation department and co-chair of Kramer Levin Naftalis & Frankel LLP
, the New York City
law firm. Naftalis graduated Phi Beta Kappa from Rutgers University (A.B. 1963), earned a masters in history at Brown University
(M.A. 1965), and graduated from Columbia Law School
(LL.B. 1967), where he was an editor on the Columbia Law Review
.
After clerking for the Honorable William B. Herlands on the U.S. District Court for the Southern District of New York, he joined the U.S. Attorney's Office
for the Southern District of New York. Naftalis spent six years at the Office, ultimately holding the post of Deputy Chief of the Criminal Division. After a stint as Special Assistant to the U.S. Attorney for the Virgin Islands
, Naftalis entered private practice, first as a partner at Orans, Elsen, Polstein & Naftalis, and then as a partner at Kramer Levin Naftalis & Frankel LLP. Naftalis has also been a Lecturer in Law at Columbia Law School and Harvard Law School
.
The Wall Street Journal recently declared him "the Zelig of the white-collar bar: He's everywhere." In 2006, Naftalis was named one of the 100 most influential lawyers in America, and also was awarded the Benemerenti medal
by Pope Benedict XVI
. In 2007, Naftalis was named one of the ten leading trial lawyers in United States.
, the CEO of The Walt Disney Company
, in the a 37 day shareholders derivative trial relating to the hiring and termination of Michael Ovitz
. He has successfully represented numerous securities industry clients, including Salomon Brothers
in the federal criminal and SEC investigations of U.S. Treasury auction bidding practices, and Kidder Peabody in connection with the Wall Street insider trading
scandal and ensuing multiple civil litigations. He also successfully represented Canary Capital Partners in the ongoing mutual fund investigations and related civil litigations, and Gary Winnick
, the Chairman and Founder of Global Crossing
.
Naftalis is counsel to Kenneth Langone
in the litigation brought by the New York State Attorney General
relating to the compensation of New York Stock Exchange
Chairman Richard Grasso
. He also represents Cosmo Corigliano, the former Chief Financial Officer of the former Cendant
, Bristol-Myers Squibb
and Oxford Health Systems; the General Counsel of Rite Aid
; the investment banking firm CIBC in the Enron
investigation; a director and senior officer of Tyco
in the securities class action and ERISA litigation; the former CEO of Refco
, Phillip R. Bennett
; and the former CEO of Arthur Andersen
in the Enron civil litigation.
Naftalis was counsel for Ian Schrager
in the Studio 54
tax evasion case; E. Robert Wallach, a San Francisco attorney and counsel to former attorney general Edwin Meese
, in a lengthy federal criminal trial arising out of the Wedtech government contracting scandal; and a prominent Saudi Arabian banker in proceedings before the Federal Reserve Board relating to the disposition of his interest in the Bank of Credit and Commerce International
, as well as complex civil litigation brought by the liquidators of BCCI
, seeking $10 billion in damages.
system: The Grand Jury: An Institution on Trial (with Hon. Marvin E. Frankel) and Sentencing: Helping Judges Do Their Jobs (also with Hon. Marvin E. Frankel).
Trial (law)
In law, a trial is when parties to a dispute come together to present information in a tribunal, a formal setting with the authority to adjudicate claims or disputes. One form of tribunal is a court...
lawyer, and serves as head of the litigation department and co-chair of Kramer Levin Naftalis & Frankel LLP
Kramer Levin Naftalis & Frankel LLP
Kramer Levin Naftalis & Frankel LLP is a law firm with offices in New York City, Silicon Valley and Paris.-History:The Firm was founded in 1968 in New York under the name Kramer, Lowenstein, Nessen & Kamin. Founding members include Arthur B...
, the New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
law firm. Naftalis graduated Phi Beta Kappa from Rutgers University (A.B. 1963), earned a masters in history at Brown University
Brown University
Brown University is a private, Ivy League university located in Providence, Rhode Island, United States. Founded in 1764 prior to American independence from the British Empire as the College in the English Colony of Rhode Island and Providence Plantations early in the reign of King George III ,...
(M.A. 1965), and graduated from Columbia Law School
Columbia Law School
Columbia Law School, founded in 1858, is one of the oldest and most prestigious law schools in the United States. A member of the Ivy League, Columbia Law School is one of the professional graduate schools of Columbia University in New York City. It offers the J.D., LL.M., and J.S.D. degrees in...
(LL.B. 1967), where he was an editor on the Columbia Law Review
Columbia Law Review
The Columbia Law Review is a law review edited and published by students at Columbia Law School. In addition to articles, the journal regularly publishes scholarly essays and student notes. It was founded in 1901 by Joseph E. Corrigan and John M. Woolsey, who served as the review's first...
.
After clerking for the Honorable William B. Herlands on the U.S. District Court for the Southern District of New York, he joined the U.S. Attorney's Office
United States Attorney
United States Attorneys represent the United States federal government in United States district court and United States court of appeals. There are 93 U.S. Attorneys stationed throughout the United States, Puerto Rico, the U.S. Virgin Islands, Guam, and the Northern Mariana Islands...
for the Southern District of New York. Naftalis spent six years at the Office, ultimately holding the post of Deputy Chief of the Criminal Division. After a stint as Special Assistant to the U.S. Attorney for the Virgin Islands
Virgin Islands
The Virgin Islands are the western island group of the Leeward Islands, which are the northern part of the Lesser Antilles, which form the border between the Caribbean Sea and the Atlantic Ocean...
, Naftalis entered private practice, first as a partner at Orans, Elsen, Polstein & Naftalis, and then as a partner at Kramer Levin Naftalis & Frankel LLP. Naftalis has also been a Lecturer in Law at Columbia Law School and Harvard Law School
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
.
The Wall Street Journal recently declared him "the Zelig of the white-collar bar: He's everywhere." In 2006, Naftalis was named one of the 100 most influential lawyers in America, and also was awarded the Benemerenti medal
Benemerenti Medal
The Benemerenti medal was first awarded by Pope Pius VI to recognize military merit. In 1831 under Pope Gregory XVI a special Benemerenti medal was struck to reward thos who fought courageously in the papal army at Ferrara, Bologna, and Vienna...
by Pope Benedict XVI
Pope Benedict XVI
Benedict XVI is the 265th and current Pope, by virtue of his office of Bishop of Rome, the Sovereign of the Vatican City State and the leader of the Catholic Church as well as the other 22 sui iuris Eastern Catholic Churches in full communion with the Holy See...
. In 2007, Naftalis was named one of the ten leading trial lawyers in United States.
Selected representations
Naftalis has been involved in multiple high-profile litigations over the past three decades. Recently, he successfully defended Michael EisnerMichael Eisner
Michael Dammann Eisner is an American businessman. He was the chief executive officer of The Walt Disney Company from 1984 until 2005.-Early life:...
, the CEO of The Walt Disney Company
The Walt Disney Company
The Walt Disney Company is the largest media conglomerate in the world in terms of revenue. Founded on October 16, 1923, by Walt and Roy Disney as the Disney Brothers Cartoon Studio, Walt Disney Productions established itself as a leader in the American animation industry before diversifying into...
, in the a 37 day shareholders derivative trial relating to the hiring and termination of Michael Ovitz
Michael Ovitz
Michael S. Ovitz is an American talent agent who co-founded Creative Artists Agency in 1975 and served as its chairman until 1995. Ovitz later served as President of the Walt Disney Company from October 1995 to January 1997....
. He has successfully represented numerous securities industry clients, including Salomon Brothers
Salomon Brothers
Salomon Brothers was a bulge bracket, Wall Street investment bank. Founded in 1910 by three brothers along with a clerk named Ben Levy, it remained a partnership until the early 1980s, when it was acquired by the commodity trading firm Phibro Corporation and then became Salomon Inc. Eventually...
in the federal criminal and SEC investigations of U.S. Treasury auction bidding practices, and Kidder Peabody in connection with the Wall Street insider trading
Insider trading
Insider trading is the trading of a corporation's stock or other securities by individuals with potential access to non-public information about the company...
scandal and ensuing multiple civil litigations. He also successfully represented Canary Capital Partners in the ongoing mutual fund investigations and related civil litigations, and Gary Winnick
Gary Winnick
Gary Winnick is an American financier with a global investment career spanning three decades. He is Chairman and Chief Executive Officer of Pacific Capital Group, a diversified private investment firm founded in 1985...
, the Chairman and Founder of Global Crossing
Global Crossing
Global Crossing Limited was a telecommunications company that provides computer networking services worldwide. It maintained a large backbone and offered transit and peering links, VPN, leased lines, audio and video conferencing, long distance telephone, managed services, dialup, colocation and...
.
Naftalis is counsel to Kenneth Langone
Kenneth Langone
Kenneth Langone, is a venture capitalist, investment banker and financial backer of The Home Depot, and a former director of the New York Stock Exchange. He was elected as director of Yum! Brands effective October 7, 1997, and is a member of the Audit Committee. Langone is also a trustee of New...
in the litigation brought by the New York State Attorney General
New York State Attorney General
The New York State Attorney General is the chief legal officer of the State of New York. The office has been in existence in some form since 1626, under the Dutch colonial government of New York.The current Attorney General is Eric Schneiderman...
relating to the compensation of New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
Chairman Richard Grasso
Richard Grasso
Richard A. "Dick" Grasso was chairman and chief executive of the New York Stock Exchange from 1995 to 2003, the culmination of a career that began in 1968 when Grasso was hired by the Exchange as a floor clerk...
. He also represents Cosmo Corigliano, the former Chief Financial Officer of the former Cendant
Cendant
Cendant Corporation was a New York-based provider of business and consumer services, primarily within the real estate and travel industries. In 2005 and 2006, Cendant broke up and spun off or sold its constituent businesses...
, Bristol-Myers Squibb
Bristol-Myers Squibb
Bristol-Myers Squibb , often referred to as BMS, is a pharmaceutical company, headquartered in New York City. The company was formed in 1989, following the merger of its predecessors Bristol-Myers and the Squibb Corporation...
and Oxford Health Systems; the General Counsel of Rite Aid
Rite Aid
Rite Aid is a drugstore chain in the United States and a Fortune 500 company headquartered in East Pennsboro Township, Pennsylvania, near Camp Hill. Rite Aid is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S....
; the investment banking firm CIBC in the Enron
Enron
Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its bankruptcy on December 2, 2001, Enron employed approximately 22,000 staff and was one of the world's leading electricity, natural gas, communications, and pulp and paper companies, with...
investigation; a director and senior officer of Tyco
Tyco
Tyco may refer to:* Tyco International, a diversified industrial conglomerate* Tyco Electronics, a former segment of Tyco International* Tyco Toys, a division of Mattel...
in the securities class action and ERISA litigation; the former CEO of Refco
Refco
Refco was a New York-based financial services company, primarily known as a broker of commodities and futures contracts. It was founded in 1969 as "Ray E. Friedman and Co." Prior to its collapse in October, 2005, the firm had over $4 billion in approximately 200,000 customer accounts, and it was...
, Phillip R. Bennett
Phillip R. Bennett
Phillip Roger Bennett was the embattled CEO of Refco, Inc. He is a British citizen who was educated at Cambridge University.In the 1970s, he worked for Chase Manhattan Bank. He joined Refco in 1981 and became the firm's Chief Financial Officer in 1983...
; and the former CEO of Arthur Andersen
Arthur Andersen
Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms among PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG, providing auditing, tax, and consulting services to large corporations...
in the Enron civil litigation.
Naftalis was counsel for Ian Schrager
Ian Schrager
Ian Schrager is an American hotelier and real estate developer. Often associated with co-creating of the Boutique Hotel genre. Originally, he gained fame as co-owner and co-founder of Studio 54.-Early years:...
in the Studio 54
Studio 54
Studio 54 was a highly popular discotheque from 1977 until 1991, located at 254 West 54th Street in Manhattan, New York, USA. It was originally the Gallo Opera House, opening in 1927, after which it changed names several times, eventually becoming a CBS radio and television studio. In 1977 it...
tax evasion case; E. Robert Wallach, a San Francisco attorney and counsel to former attorney general Edwin Meese
Edwin Meese
Edwin "Ed" Meese, III is an attorney, law professor, and author who served in official capacities within the Ronald Reagan Gubernatorial Administration , the Reagan Presidential Transition Team , and the Reagan White House , eventually rising to hold the position of the 75th Attorney General of...
, in a lengthy federal criminal trial arising out of the Wedtech government contracting scandal; and a prominent Saudi Arabian banker in proceedings before the Federal Reserve Board relating to the disposition of his interest in the Bank of Credit and Commerce International
Bank of Credit and Commerce International
The Bank of Credit and Commerce International was a major international bank founded in 1972 by Agha Hasan Abedi, a Pakistani financier. The Bank was registered in Luxembourg with head offices in Karachi and London. Within a decade BCCI touched its peak...
, as well as complex civil litigation brought by the liquidators of BCCI
Bank of Credit and Commerce International
The Bank of Credit and Commerce International was a major international bank founded in 1972 by Agha Hasan Abedi, a Pakistani financier. The Bank was registered in Luxembourg with head offices in Karachi and London. Within a decade BCCI touched its peak...
, seeking $10 billion in damages.
Selected publications
Mr. Naftalis is the author or co-author of numerous books and articles, including the leading work on the grand juryGrand jury
A grand jury is a type of jury that determines whether a criminal indictment will issue. Currently, only the United States retains grand juries, although some other common law jurisdictions formerly employed them, and most other jurisdictions employ some other type of preliminary hearing...
system: The Grand Jury: An Institution on Trial (with Hon. Marvin E. Frankel) and Sentencing: Helping Judges Do Their Jobs (also with Hon. Marvin E. Frankel).