Cravath,
Swaine & Moore LLP - (en)
Cravath, Swaine & Moore LLP ("Cravath") is one of the most
renowned and prestigious law firms in the United States. Historically, the
firm has been one of the most profitable in terms of revenue per partner,
and has been the subject of conjecture and rumor regarding its traditions
and operating style. Cravath is considered one of the most prestigious and
selective law firms in the United States. Based in New York City with an
additional office in London, Cravath has existed since 1819.
The firm stems from two predecessor firms, one in New York City and one in
Auburn, New York. In 1854 these firms merged to form the firm of
Blatchford, Seward & Griswold. Name partner William H. Seward later
served as both governor of and a senator from New York, then became
Secretary of State under Presidents Abraham Lincoln and Andrew Johnson. In
1867, he negotiated the purchase of Alaska from Russia in transaction
contemporaries derisively called "Seward's Folly". Paul Drennan
Cravath joined the firm in 1899. He instituted the "Cravath
System", a training program for associates which rotates them among
the firm's partners within a given practice area. After a series of name
changes, the Cravath, Swaine & Moore name was made permanent in 1944.
Cravath has represented high profile businesses, ranging from Samuel F.B.
Morse, the inventor of the telegraph to corporations such as IBM,
PriceWaterhouseCoopers, and CBS. It also performed the legal work
necessary to form NBC. More recent decades have seen Cravath represent
Netscape in its antitrust suit against Microsoft, resulting in a $750
million settlement; major merger and acquisition deals, such as the
Ford-Jaguar merger, the Bristol-Myers-Squibb merger, the Time-Warner
merger, and the AOL-Time-Warner merger; and two famed libel suits:
defending Time Inc. against Israeli General Ariel Sharon, and also
defending CBS against U.S. Army General William Westmoreland.
Unlike certain rivals such as Skadden, Arps, Slate, Meagher & Flom,
Cravath has remained relatively small. Its approximately 390 lawyers are
spread across only two offices--New York and London. The firm had an
office in Hong Kong from 1993 to 2003.
