Rishi N. Zutshi’s practice focuses on commercial litigation and securities litigation, with extensive experience in disputes relating to complex financial instruments and derivatives.

Rishi also has experience in internal investigations and enforcement matters, including representing clients in 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 regulators and agencies.

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.

  • 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.

  • 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.

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

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

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

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

  • 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.


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

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

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

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