Victor L. Hou is Co-Leader of Cleary Gottlieb’s Americas Litigation Group.

He is a nationally recognized trial lawyer who focuses on high-stakes litigation and government investigations. For 20 years, Victor has successfully represented global investment banks, private investment funds, and multinational corporations, as well as their senior executives and board members, in securities, antitrust, complex litigation, and criminal and regulatory matters.

Victor is described by Chambers USA as an “incredible lawyer and counselor,” “relentless,” “formidable,” and the trial lawyer “you want in your corner on a tough matter.” According to Legal 500 U.S., clients have described Victor as a “true trusted advisor,” “a real star,” and “for U.S. financial/regulatory matters he would be my No. 1 choice of counsel.” 

Victor joined the firm in 2007 and became a partner in 2010. From June 2001 until July 2007, he worked as an Assistant U.S. Attorney for the Southern District of New York. As a prosecutor, Victor investigated and prosecuted numerous federal offenses, including securities fraud racketeering, terrorism, murder, securities fraud, money laundering, mail fraud, wire fraud, and international narcotics trafficking. He has worked on many high-profile prosecutions, including the successful prosecution at trial of the head of the Gambino Crime Family. He has tried dozens of jury and bench trials.

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Notable Experience

Government Investigations

  • Goldman Sachs in connection with criminal and regulatory inquiries related to the multi-billion-dollar meltdown of Archegos Capital Management, securing the dismissal of seven different proposed class actions filed in the Southern District of New York, which was upheld in the Second Circuit.

  • Compass Minerals, leading salt producer, in connection with SEC investigation relating to complex accounting issues and securing dismissal of all fraud charges and highly favorable settlement.

  • Global investment bank in connection with worldwide investigation of alleged antitrust and market manipulation in currency markets, resulting in declination of all charges by DOJ Criminal Antitrust Division and CFTC.

  • Dentsply Sirona in an accounting SEC investigation relating to complex accounting issues resulting in declination of all charges.

  • Hospitality company in a DOJ Criminal Antitrust Division investigation into alleged bid-rigging that resulted in a rare non-prosecution agreement for the company.

  • Global investment bank in DOJ Criminal Antitrust Division investigation, securing declination of all charges relating to total return swap market.

  • Michael Carroll, former CEO of Brixmor Property Group Inc., in securing nolle prosequi of a criminal accounting fraud indictment in the Southern District of New York and dismissal of all charges by the SEC in the Southern District of New York.

  • Goldman Sachs in connection with antitrust civil litigation in the Southern District of New York involving the trillion-dollar foreign exchange markets.

  • Nissan in successful defense in SEC investigation and secured highly favorable settlement of securities fraud allegations relating to compensation to former CEO Carlos Ghosn.

  • Alpha Natural Resources, in connection with its acquisition of Massey Energy, and DOJ criminal investigation and related securities/derivative class actions, following explosion at Upper Big Branch mine resulting in death of 29 miners, and securing landmark non-prosecution agreement without financial penalty, resolving nearly all then pending MSHA violations.

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Delaware/Complex Civil Litigation

  • National Amusements Inc. in connection with litigation in Delaware Court of Chancery over control of Viacom Inc. resulting in highly favorable settlement, and replacement of then CEO.

  • National Amusements Inc., Shari Redstone, and Sumner Redstone in Delaware Court of Chancery litigation 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 described by the legal media as “a total victory,” rescinding dilutive stock dividend and dismissal of all claims, as featured in Unscripted: The Epic Battle for a Media Empire, James Stewart and Rachel Abrams (2023).

  • National Amusements Inc. and Shari Redstone in successful settlement of stockholder and derivative litigation in Delaware Court of Chancery arising out of $30 billion merger of Viacom Inc. and CBS Corporation.

  • BHP Billiton in securing rare dismissals in climate change litigation in State courts in Hawai’i and federal court in Puerto Rico.

  • Howmet Aerospace, in successfully defeating emergency preliminary injunction in the Northern District of Texas, following full hearing on day after Christmas over supply of titanium for F-35 fighter program.

  • Medtronic, leading medical device company, in connection with earnout-related litigation and securing rare dismissal in Delaware Court of Chancery, arising out of acquisition of Companion Medical, maker of InPen, smart insulin pen system.

  • Manbro Energy Corporation in obtaining highly favorable settlement in a jury trial, hours following his closing summation in the Southern District of New York, involving breach of duty of good faith and fair dealing against private equity investment fund.

  • Goldman Sachs in multiple actions, asserting antitrust claims in multidistrict litigation involving the municipal derivatives market and obtained complete dismissal of all claims.

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Securities Litigation

  • Proterra, an EV company, and its former officers and directors in connection with securities litigation pending in the Northern District of California, securing a highly favorable settlement.

  • Compass Minerals in connection with highly favorable settlement of securities class action and related derivative actions pending in the District of Kansas.

  • Bed Bath & Beyond and certain of its board of directors members in securing dismissal of securities fraud claims pending in federal court in the District of Columbia and Nevada, relating to meme stock allegations and activist Ryan Cohen.

  • Odebrecht S.A. and certain of its affiliates in two securities actions in the Southern District of New York. At the heart of both matters is Odebrecht S.A. and related entities’ involvement in the biggest bribery scandal in history, which resulted in a guilty plea and $2.6 billion settlement with the U.S. Department of Justice as well as settlements with other foreign governments.

  • Synchrony Financial in successfully obtaining dismissal of significant portion of a putative securities class action and derivative litigation concerning its underwriting standards in the District of Connecticut and securing highly favorable settlement of sole remaining allegation.

  • Over two dozen underwriter clients, including Morgan Stanley, in securities class actions filed in SDNY relating to offerings of Lehman Brothers debt securities; secured landmark Supreme Court securities ruling concerning 1933 Securities Act’s statute of repose: CalPERS v. ANZ Securities, Inc., No. 16-373.

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Pro Bono

  • Represented Shawn Williams in a wrongful murder conviction, helping secure his release after 24 years of incarceration and leading to one of the largest civil settlements for police misconduct in New York.

  • Represented an inmate at Suffolk County Jail in a jury trial in the Eastern District of New York against correctional officers and the institution, alleging excessive force and due process violations arising from the use of suicide watch as a form of humiliation and punishment, securing compensatory and punitive damages, as well as one of the largest attorneys’ fee awards in a Section 1983 action in the Second Circuit.

  • Represented three clients in landmark resentencing proceedings, securing precedent-setting settlements with the Manhattan and Brooklyn District Attorneys under the Domestic Violence Survivors Justice Act.

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Selected Activities

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  • Member, Board of Advisors, NYU School of Law, Institute of Judicial Administration
  • Member, New York Council of Defense Lawyers

  • Lecturer in Law, Columbia Law School (Securities Litigation)
  • Teaching Fellow, Harvard University, 1999

Publications

“Cybersecurity in the Age of Cyber Warfare: Governance Reminders for Public Company Boards,” Cleary Gottlieb Alert Memo, (March 2026)

“SDNY Announces Revised Corporate Enforcement and Voluntary Self-Disclosure Program for Financial Crimes,” Cleary Gottlieb Alert Memo, (March 2026)

“DOJ Announces Record-Breaking $6.8 Billion in False Claims Act Recoveries for Fiscal Year 2025,” Cleary Gottlieb Alert Memo, (January 2026)

“SEC Announces Formation of Cross-Border Task Force to Combat Fraud,” Cleary Gottlieb Alert Memo, (September 2025)

“Second Circuit Reinstates FIFA Bribery Convictions, Reviving Honest Services Fraud Prosecutions for Foreign Commercial Bribery,” Cleary Gottlieb Alert Memo, (July 2025) 

“Whistleblowing in Focus: Recent Developments, Emerging Issues, and Considerations for Companies. Part Two: Global Developments,” Cleary Gottlieb Alert Memo, (January 2025) 

“Whistleblowing in Focus: Recent Developments, Emerging Issues, and Considerations for Companies. Part One: Developments in the U.S.,” Cleary Gottlieb Alert Memo, (January 2025) 

“Supreme Court Rejects Private Cause of Action for “Pure Omissions” Under Section 10(b),” Cleary Gottlieb Alert Memo, (April 2024) 

“SDNY Announces Whistleblower Pilot Program For Individuals Who Self-Disclose Wrongdoing Involving Business Organizations,” Cleary Gottlieb Alert Memo, (January 2024) 

“Second Circuit Decision Limits the Ability to Prosecute Instances of Trading on Confidential Government Information,” Cleary Enforcement Watch blog, (January 2023) 

“2021 Developments in Securities and M&A Litigation,” Cleary Gottlieb Alert Memo, (January 2022)

“SEC Charges Eight Companies and Signals Need for Better Disclosures About Delayed Filings,” Cleary Gottlieb Alert Memo, (May 2021)

“Three Years After ‘CalPERS’: Still No Flood of Opt-Outs,” Law360, (February 2021) 

“Second Circuit Provides Guidance on Identifying ‘Predominantly Foreign’ Transactions That Are Outside the Scope of the Federal Securities Laws,” Cleary Gottlieb Alert Memo, (February 2020) 

“What to Expect From the Biden Administration,”  Cleary Gottlieb Alert Memo, (November 2020)

“Shareholder Complaints Seek to Hold Directors Liable for Lack of Diversity,” Cleary Gottlieb Alert Memo, (July 2020); republished by Law360 and Harvard Law School Forum on Corporate Governance (August 2020)

“Second Circuit Reaffirms Stringent Standard for Pleading Corporate Scienter in Securities Fraud Class Actions,” Cleary Gottlieb Alert Memo, (June 2020)

“Second Circuit: Criminal Fraud Statutes Do Not Require Prosecutors to Show that Tippers in Insider-Trading Cases Received a ‘Personal Benefit,’” Cleary Gottlieb Alert Memo, (January 2020) 

“U.S. Criminal Prosecution Based on Panama Papers Hack Raises Novel Legal Issues,” Cleary Gottlieb Alert Memo (January 2019); republished by The Columbia Law School Blue Sky Blog (January 2019)

“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, Rishi Zutshi, and Mark McDonald; republished by the Harvard Law School Forum on Corporate Governance and Financial Regulation

“Lessons Learned from the CBS-NAI Dispute: Rights of Board Members to Access Privileged Communications with Company Counsel,” Cleary M&A and Corporate Governance Watch blog (October 2018); republished by Harvard Law School Forum on Corporate Governance and Financial Regulation (November 2018)

“Cleary Gottlieb Wins Supreme Court Ruling That Securities Act’s Statute of Repose Is Not Subject to Class-Action Tolling,” Cleary Gottlieb Alert Memo (June 2017)

“U.S. Securities Law: How the SEC’s Whistleblower Rules Under Dodd-Frank Affect Non-U.S. Companies,” Practical Law Guide (2015)

Contributing Editor, “Jury Selection in High Profile Criminal Cases,” Jury Selection (Aspen Publishers 4th Ed. 2011)

“Impact of New Amendments to Sentencing Guidelines on Compliance & Ethics Programs,” Wall Street Lawyer (July 2010)

Events