Scott A. Edelman is the Chairman of Milbank, Tweed, Hadley & McCloy and a member of the firm’s Litigation & Arbitration Group.
Primary Focus & Experience
Mr. Edelman’s practice spans contested civil, criminal and SEC enforcement litigation matters, corporate investigations, as well as providing advice to corporate clients and boards of directors on corporate governance and related issues. Mr. Edelman joined Milbank in 1994 and became a partner in 1995. Prior to joining Milbank, Mr. Edelman served as an Assistant United States Attorney in the Southern District of New York from 1990 to 1994 where he tried numerous securities-related crimes to jury verdict and argued numerous appeals before the Second Circuit. Prior to becoming an Assistant United States Attorney, Mr. Edelman started his career at Wachtell, Lipton, Rosen & Katz.
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Among the notable civil litigation matters that Mr. Edelman has handled at Milbank are:
- multiple representations of Citigroup in several cases, including litigation arising out of the Adelphia Bankruptcy;
- representation of the REFCO Trustee in litigation against a leading private equity firm;
- representation of Broadcast Music, Inc., in two rate court litigations commenced by the local television industry and the radio industry, which litigations will determine the amounts to be paid by local television and radio to songwriters for the public performance rights for their songs;
- multiple representations of underwriters in connection with claims brought under the Securities Act of 1933;
- representation of multiple financial institutions in the defense of arbitration claims brought by customers before FINRA arising out of complex, derivative transactions;
- representation of private equity fund Cerberus Capital Management and its affiliates in defending a claim brought by United Rentals, seeking to compel Cerberus’ affiliates to close on a multi-billion dollar merger. Represented by Milbank, Cerberus obtained complete relief after an expedited trial in Delaware Chancery Court, which held that Cerberus' affiliates were not obligated to close the merger transaction. See United Rentals, Inc. v. RAM Holdings, Inc., C.A. No. 3360-CC, 937 A.2d 810 (Del. Ch. 2007);
- representation of the REFCO Creditors’ Committee in obtaining a $1.3 billion pre-judgment attachment against, and subsequent $508 million settlement with, Austrian Bank BAWAG;
- representation of Station Casinos in litigation in multiple state and federal litigations arising out of its failed merger with Crescent Real Estate Investment Trust; despite Crescent’s claim that it was entitled to a $54 million termination payment under the governing merger agreement, the case was settled with a $15 million payment from Crescent to Station;
- representation of Aquila, Inc. in litigations and arbitrations arising out of Aquila’s efforts to obtain control of Quanta Services Corporation, as well as numerous other litigations in state and federal courts. See Citadel Equity Fund, Ltd. v. Aquila, Inc., 371 F. Supp. 2d 510 (S.D.N.Y. 2005);
- representation of Jardine Lloyd Thomson, one of the world’s leading insurance brokerage firms, in a number of civil litigations arising out of the demise of Bennett Funding, one of the largest Ponzi Schemes in history;
- representation of Long Term Capital Management in obtaining the dismissal on motion of a claim asserted by one of its investors in the wake of the liquidity crisis that occurred at Long Term and resulted in its restructuring;. See Lakonia Management Limited v. Meriwether, No. 99 Civ. 5064 (S.D.N.Y. July 27, 2000);
- representation of Ashanti Goldfields, one of the world’s leading gold producers, and its executive officers in the defense of a securities class action litigated in the Eastern District of New York;
- representation of TIG Holdings, a large property and casualty insurer, and its executive officers in the defense of a securities class action litigated in the Southern District of New York;
- representation of Bermuda reinsurance company Overseas Partners in a number of RICO and antitrust class actions consolidated in the Southern District of New York arising out of allegations concerning a reinsurance arrangement between Overseas Partners and United Parcel Service.
Mr. Edelman has also been active in representing individuals and institutions in connection with various regulatory and criminal investigations. Among the matters that Mr. Edelman has handled are:
- representation of a leading European Bank in an investigation into internet gambling in the United States;
- representation of a leading US financial institution in connection with an SEC investigation relating to trading practices with respect to custodial customers;
- representation of numerous audit committees in connection with investigations relating to their financial statements;
- representation of a former CEO and chairman of one of the world’s leading pharmaceutical companies in connection with a variety of investigative and civil litigation matters;
- the representation of E. Kirk Shelton, former President and Chief Operating Officer of CUC Holdings, Inc. in a seven month jury trial in Hartford, Connecticut;
- representation of a leading New York securities lawyer in connection with investigations and prosecutions of various penny stock fraud schemes perpetrated by former clients of our firm’s client.
Recognition & Accomplishments
Mr. Edelman has been recognized as one of the nation’s 500 leading lawyers by Lawdragon, as well as one of the nation’s 500 leading litigators. In addition, Lawdragon recently recognized Mr. Edelman as one of the 100 Lawyers You Need to Know In Securities Litigation. Chambers USA has cited Mr. Edelman as a leading practitioner, both in securities litigation and white-collar crime & government investigations.
Mr. Edelman is a graduate of Yale College, where he simultaneously obtained B.A. (summa cum laude) and M.A. degrees, both in Economics, and was elected to Phi Beta Kappa. Mr. Edelman is a graduate of Harvard Law School, where he was a member of the Harvard Law Review and a John Olin Fellow in Law and Economics.