April 17, 2023

A Willkie team, led by partners Todd Cosenza and Vanessa Richardson, was recognized by The AmLaw Litigation Daily for representing the underwriting syndicate of Farfetch Ltd.’s 2018 IPO, led by Goldman Sachs & Co. LLC and J.P. Morgan, in securing a unanimous Second Circuit affirmance of the dismissal of a shareholder class action filed in the wake of a decline of almost 45% in Farfetch’s stock price and a market cap drop of nearly $2 billion. 
On September 29, 2021, the U.S. District Court for the Southern District of New York granted a motion to dismiss as to all claims brought against the underwriters, as well as all claims against Farfetch and the officers.  On April 11, 2023, the Second Circuit found that the complaint had been rightly dismissed, and affirmed the District Court’s reasoning.  
In addition to Todd and Vanessa, the Willkie team included associate Anna Occhipinti.
Read more about the case and decision here.
Read The AmLaw Litigation Daily article here (subscription may be required).