Rishi Zutshi’s practice focuses on complex commercial litigation, as well as securities and M&A litigation, with extensive experience in disputes relating to financial products and markets.

Rishi also has experience handling 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.

  • 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.

Publications

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.