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Daryl A. Libow

Partner

Daryl A. Libow

Partner
Washington, D.C. +1-202-956-7650+1-202-956-7650 +1-202-293-6330+1-202-293-6330
libowd@sullcrom.com

Daryl Libow is managing partner of the Firm’s Washington office and co-head of the Firm’s Antitrust Practice.

Mr. Libow has acted as lead counsel and represented clients in a broad range of matters, including:

  • criminal and civil antitrust litigation
  • complex commercial litigation
  • governmental investigations
  • securities fraud and derivative litigation
  • agency enforcement actions
  • grand jury proceedings
  • congressional investigations and hearings

Mr. Libow recently spearheaded BP’s efforts in reaching the historic $18.7 billion settlement with federal, state and local governments resolving the Clean Water Act penalty, natural resource damage and economic damage claims relating to the Deepwater Horizon oil spill in the Gulf of Mexico. Mr. Libow is also representing BP and its directors in federal and state derivative and securities fraud litigation relating to the Gulf of Mexico oil spill and secured dismissal of the derivative litigation against BP’s directors. Mr. Libow currently represents JPMorgan Chase and its board in securities fraud and derivative litigation arising out of the so-called “London Whale” derivative trading losses. Among the other clients Mr. Libow has represented in securities fraud or derivative litigation are the companies or outside directors of JPMorgan Chase, CMS Energy and Iridium.

Mr. Libow has represented a number of companies and individuals in criminal price fixing investigations and related multidistrict class action litigation. Most notably, Mr. Libow was lead counsel for British Airways in connection with the Department of Justice cases involving price fixing of fuel surcharges with respect to cargo air services and passenger air services. Mr. Libow recently won dismissal for JPMorgan Chase in a multidistrict class action litigation alleging a conspiracy to monopolize and manipulate the silver futures market, and successfully argued the appeal when the Second Circuit Court of Appeals affirmed the dismissal this year. Mr. Libow is currently lead counsel for Bank of Tokyo– Mitsubishi in multi-agency government investigations and multi-district civil litigation relating to LIBOR and other benchmarks.

In connection with agency enforcement actions, grand jury proceedings, and congressional investigations and hearings, Mr. Libow has represented an extensive roster of clients, including Goldman Sachs, Microsoft, Barclays, Royal Bank of Canada, National Australia Bank, Riggs Bank and, most recently, British Airways, Technicolor and Bank of Tokyo—Mitsubishi in U.S. Department of Justice investigations.

Mr. Libow represented President and Mrs. Clinton in a lawsuit brought by a watchdog group challenging the legality of President Clinton’s legal defense fund. He won a dismissal in the U.S. District Court in Washington, D.C., which was affirmed by the U.S. Court of Appeals. Mr. Libow subsequently represented the fund’s trustees in congressional hearings related to campaign finance laws.

Recent Recognitions

  • National Law Journal – Recognized as a "Trailblazer" for excellence in merger clearance and antitrust litigation and criminal work (2015)
  • The Legal 500 United States – Recommended as one of 15 Leading Lawyers for Antitrust - Merger Control (“praised for his ‘impeccable judgment’, and competitors give him credit for being ‘a terrific antitrust lawyer in all areas, and you can say that of very few attorneys’”; Recommended Lawyer for Antitrust - Civil Litigation/Class Actions (2015)
  • Global Competition Review (recommended by peers as “among the top five antitrust lawyers in Washington”)
  • The Best Lawyers in America – 2013 Lawyer of the Year for Washington DC Litigation – Banking & Finance
  • The Best Lawyers in America – Recommended most recently for Litigation-Securities, Litigation-Antitrust, Litigation-Banking and Finance and Litigation-Mergers & Acquisitions
  • Chambers USA – Notable Practitioners, Leaders – Antitrust
  • Euromoney’s Benchmark: America’s Leading Litigation Firms and Attorneys – Recognized for Antitrust and Securities
  • Super Lawyers Corporate Counsel Edition – Recommended Lawyer for Antitrust, Securities Litigation and White Collar Criminal Defense
  • Washington, D.C.’s Best Lawyers – Recognized most recently as a leading litigator in the areas of Antitrust Law, Banking and Finance Law, Bet-the-Company Litigation, Mergers & Acquisitions Law and Securities/Capital Markets Law
  • Washington, DC Super Lawyers – Recommended Lawyer for Antitrust, Securities Litigation and White Collar Criminal Defense
  • Washingtonian Magazine Top Lawyers 

Professional Activities and Community Involvement

  • Mr. Libow is a board member of The Smithsonian-affiliated National Jazz Museum in Harlem, The Ellington Fund (associated with the Duke Ellington School of the Arts) and Human Rights First. Mr. Libow is also a member of the Dean's Advisory Council of Cornell Law School.


SELECTED REPRESENTATIONS

Antitrust: Government Investigations and Litigation
  • Mr. Libow has long represented British Airways in a number of matters involving antitrust issues, including:
    • serving as lead lawyer for British Airways in the U.S. Department of Justice criminal investigation into price fixing in the provision of air cargo and passenger air services, as well as in the related consolidated multidistrict class action litigations. In June 2011, British Airways settled the air cargo civil class action litigation.
    • representing British Airways in a $1 billion antitrust case brought by Virgin Airlines alleging that British Airways had attempted to monopolize the transatlantic passenger air services market. British Airways was awarded summary judgment in the case, dismissing all claims.
  • Mr. Libow is lead counsel to Bank of Tokyo-Mitsubishi in well-publicized, industry-wide regulatory investigations by agencies in several countries into potential irregularities in the setting of the LIBOR interest rates. Mr. Libow also represents the institution in related class action litigation alleging violations of the federal antitrust laws and the Commodities Exchange Act.
  • Mr. Libow recently represented JPMorgan Chase in a consolidated multidistrict litigation alleging a conspiracy to monopolize and manipulate the silver futures market in violation of the Sherman Act and the Commodity Exchange Act. In December 2012 the court granted JPMorgan's motion to dismiss all claims and this year the Second Circuit affirmed that dismissal.
  • Mr. Libow represents BP in multi-district litigation alleging Sherman Act and State Law antitrust and unfair competition as well as Commodity Exchange Act claims relating to the alleged manipulation of the Brent Crude Oil market (and derivatives and futures market(s)).
  • Mr. Libow was the lead lawyer for Technicolor in the U.S. Department of Justice criminal investigation into price fixing in the Cathode Ray Tube industry.
  • Mr. Libow is representing an executive of a foreign corporation in investigations launched by the Antitrust Division of the Department of Justice, the EC, the Canadian Competition Bureau, Japan’s Fair Trade Commission and other agencies into an international bid-rigging cartel in the high-voltage submarine and underground cable industry.
Securities, Shareholder Derivative, and Complex Commercial Litigation
  • Mr. Libow is representing BP in derivative, securities fraud and ERISA litigation arising out of the 2010 Deepwater Horizon incident and ensuing Gulf of Mexico oil spill. These cases include litigation in federal court in Houston, Texas and related shareholder derivative litigation in state courts in Delaware, Louisiana, Texas and Alaska. The federal cases are part of a multidistrict litigation proceeding involving Gulf of Mexico spill-related litigation. To date, S&C has achieved dismissals in many of these actions including derivative, ERISA and other shareholder litigations.
  • Mr. Libow represents JPMorgan Chase and its CEO and other senior officers in securities, derivative and ERISA litigation arising out of so-called "London Whale" trading losses and has secured a number of dismissals.
  • Mr. Libow has been representing BP in Norex Petroleum Ltd. v. Access Industries et al., a $1 billion RICO and tort litigation in both federal and state court in New York relating to BP’s joint venture interests in Russia. In September 2010, the Second Circuit affirmed the federal district court’s dismissal of the federal RICO complaint in a precedent-setting application of the Supreme Court’s Morrison decision to the extraterritorial application of U.S. RICO statute. Dismissal of plaintiff’s state law action is currently on appeal to the New York Court of Appeals.
  • Mr. Libow represented British Airways in a $1 billion antitrust, breach of contract and breach of fiduciary duty suit brought by US Airways when British Airways established an alliance with American Airlines.