Rishi Zutshi represents clients in high-stakes litigation and investigations and has obtained victories for clients – including at trial – defeating or resolving claims seeking billions of dollars in damages.

Rishi has extensive experience handling complex commercial cases, including contract and valuation disputes, business tort, fraud and antitrust claims, and M&A and shareholder litigation. Rishi also regularly advises clients on matters involving the U.S. Securities and Exchange Commission, U.S. Department of Justice, U.S. Commodity Futures Trading Commission, state attorneys general, and overseas government authorities.

Rishi’s clients – which include public and private companies, financial institutions, private equity, venture capital, and investment firms – praise his creative and pragmatic strategic thinking, smarts, and dedication.

Rishi also maintains an active pro bono practice, with a focus on matters involving immigrants’ rights and human rights issues.

Rishi joined the firm in 2008 and became a partner in 2016.

Notable Experience

  • AG Financial Products Inc. in a New York state court action involving claims in excess of one billion dollars in connection with terminated credit default swaps.

  • Goldman Sachs in multiple federal and state court actions involving claims related to physical and derivative energy contracts.

  • National Amusements Inc. (NAI), Shari Redstone, and Sumner Redstone in Delaware Chancery Courtlitigation against CBS Corporation and certain members of its Board of Directors concerning CBS’s‑attempt to dilute NAI’s‑voting control of CBS, ending in a favorable settlement rescinding dilutive stock dividend and dismissal of all claims

  • Crédit Lyonnais and National Westminster Bank in lawsuits in New York federal court based upon allegations under the U.S. Anti-Terrorism Act that the banks are responsible for acts of international terrorism because they maintained accounts for Palestinian charities in England and France.

  • Synutra (a NYSE-listed company) in multiple federal and state court actions involving claims relating to a going-private transaction.

  • Multiple financial institutions in adversary proceedings in the Bankruptcy Court for the Southern District of New York relating to terminated credit default swaps with various Lehman entities.

  • Citigroup in a shareholder derivative action asserting claims based on alleged manipulation of interbank-offered rates.

  • Goldman Sachs in multiple federal, state and bankruptcy court actions involving claims related to physical and derivative energy contracts, including obtaining dismissal of all claims.

  • Svensk Exportkredit, A.B., Sweden’s state export-finance bank, in Swedish court proceedings relating to the valuation of numerous bespoke derivative transactions.

  • A financial institution in the successful resolution of an investigation by various U.S. regulatory authorities regarding the trading of mortgage-backed securities.

  • Various financial institutions in regulatory investigations regarding trading practices in the equities, foreign-exchange and asset-backed securities markets, and in inquiries regarding swap reporting practices.

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Selected Activities

  • Member, Hedge Fund and Capital Markets Committee of the Commercial and Federal Litigation Section of the New York State Bar Association.


The Adjustable Interest Rate (LIBOR) Act: A Closer Look at How It Interacts with State Law and What It Means for Potential Litigation Risks,” Cleary Gottlieb Alert Memo (April 13, 2022) co-authored with Jeffrey D. Karpf, Duane McLaughlin, Elizabeth A. Chang

2021 Developments in Securities and M&A Litigation,” Cleary Gottlieb Alert Memo (January 18, 2022) co-authored with Joon H. Kim, Matthew C. Solomon, Victor L. Hou, Roger A. Cooper, Lisa Vicens, Jared Gerber, Nowell D. Bamberger, Abena Mainoo, Rahul Mukhi, Lina Bensman, Mark E. McDonald, Alexander Janghorbani, Anthony M. Shults, Avion A. Tai and Chelsea Hanlock

The Banking Litigation Law Review - Edition 5,” The Law Reviews (December 8, 2021) co-authored with Jonathan Blackman, Pascale Bibi, and Vishakha Joshi

The Need for Continued Vigilance Against Veil Piercing,” Corporate Disputes Magazine (June 9, 2021) co-authored with Douglas Gretz 

AG MIT CMO, LLC v. RBC (Barbados) Trading Corp.: Initial Post-COVID-19 Litigation Challenges to Closeouts of Repurchase Agreements,” Cleary Gottlieb Alert Memo (March 31, 2020) co-authored with Carmine D. Boccuzzi Jr., Penelope L. Christophorou, Lisa M. Schweitzer, Jane VanLare, Brandon M. Hammer, Sean A. O’Neal, Sandra M. Rocks, Douglas A. Gretz, Colin D. Lloyd, and Derek M. Bush

Delaware Chancery Court Opinion Raises New Considerations for Special Litigation Committees,” Cleary Gottlieb Alert Memo (December 13, 2019) co-authored with Jared Gerber, Roger Cooper, Rahul Mukhi, Victor Hou, and Mark McDonald; republished by the Harvard Law School Forum on Corporate Governance and Financial Regulation

New Limits on Forum Shopping:  Standing and Jurisdiction as Hurdles in Class and Mass Actions,” Class Actions & Derivative Suits: American Bar Association Section of Litigation, May 23, 2019.

Delaware Supreme Court Provides Significant Guidance on Timing Requirement Under MFW,” October 16, 2018; republished by the Harvard Law School Forum on Corporate Governance and Financial Regulation, November 3, 2018.

Identifying Cybersecurity Best Practices for Financial Firms,” Law360, March 2018.

Litigation Involving Derivatives and Other Complex Financial Products,” Corporate Disputes Magazine, October - December 2017 Issue.

“Derivatives,” Business and Commercial Litigation in Federal Courts (Thompson Reuters and the American Bar Association Section of Litigation, fourth ed.), co-author.