Practice
Brian Polovoy is a partner in the Litigation Group of Shearman & Sterling, where he has practiced for 19 years. His practice involves a variety of complex commercial litigation for U.S. and foreign clients, with particular emphasis on securities class actions and matters involving financial institutions, fraud allegations, and fiduciary duty issues. Mr. Polovoy has been recognized in Benchmark Litigation for the past three years, and he regularly speaks in the U.S. and abroad on U.S. securities litigation and other topics.

Mr. Polovoy serves on the Board of Trustees of International House. He also has an active pro bono practice, which includes his successful argument before New York’s highest court on the right of a defendant to introduce expert testimony on the reliability of eyewitness identifications, People v. Abney, 13 N.Y.3d 251 (2009), and overturning a murder conviction based on the recantation of the sole eyewitness’s identification testimony, People v. Morillo, 2011 WL 7631523 (Supreme Ct. Bronx Co. Oct. 6, 2011).

• Defeating a motion for preliminary injunction freezing assets of a sovereign wealth fund of Libya in an action brought by the Receiver of Stanford International Bank, Ltd. Janvey v. Libyan Investment Authority, 2012 WL 1059028 (N.D. Tex. Feb. 29, 2012), app. pending, No. 12-10240 (5th Cir.)
• Representing Olympus Corporation in a securities fraud class action in the Eastern District of Pennsylvania arising from its disclosure of financial irregularities (2011-present)
• Representing Nomura International plc in lawsuits filed by the trustee of Bernard L. Madoff Investment Securities LLC and the liquidators of a Madoff “feeder fund” seeking to recover payments (2010-present)
• Representing Nomura International plc, Nomura Securities Co. Ltd., and Nomura Global Financial Products Inc. in actions brought by Lehman Brothers in U.S. Bankruptcy Court seeking to disallow their combined $1 billion in claims against the Lehman bankruptcy estates (2010-present)
• Securing the denial of a motion seeking turnover of assets from a foreign bank branch and establishing the continuing vitality of the “separate entity” rule in post-judgment garnishment proceedings against banks. Hamid v. Habib Bank Limited, 2012 WL 919664 (S.D.N.Y. Mar. 14, 2012)
• Successfully settling multiple class action lawsuits arising out of the acquisition of Celera Corporation by Quest Diagnostics Incorporated. In re Celera Corp. S’holder Litig., 2012 WL 1020471 (Del. Ch. Mar. 23, 2012)
• Winning the dismissal of “foreign cubed” securities class action lawsuits against Fairfax Financial Holdings Limited and certain officers and directors and upholding that judgment on appeal to the U.S. Court of Appeals for the Second Circuit. Parks v. Fairfax Financial Holdings Limited, 2010 WL 1372537 (S.D.N.Y. Mar. 29, 2010), reh’g denied, 2010 WL 2346586 (S.D.N.Y. June 8, 2010), app. dismissed sub nom. Plumbers, Pipefitters & MES Local Union No. 392 Pension Fund v. Fairfax Financial Holdings Limited, 2011 WL 2011515 (2d Cir. May 24, 2011)
• Obtaining the voluntary dismissal of a securities fraud action against Nomura International plc after serving a Rule 11 motion for sanctions on plaintiffs’ counsel. Brandis v. Nomura Int’l plc, No. 10 Civ. 2132 (S.D.N.Y. June 3, 2010)
• Securing the denial of a petition for an injunction under the All Writs Act against Société Générale. Reserve Int’l Liquidity Fund, Ltd. v. Caxton Int’l Limited, 721 F. Supp. 2d 253 (S.D.N.Y. 2010)
• Winning the dismissal of a securities class action against Pzena Investment Management, Inc. and upholding that judgment on appeal to the U.S. Court of Appeals for the Second Circuit. Lowinger v. Pzena Investment Management, Inc., 2009 WL 2476641 (2d Cir. Aug. 13, 2009)
• Representing JinkoSolar Holding Co., Ltd. and Gulf Resources, Inc., two Chinese issuers, in U.S. securities class actions (2011-present)
• Representing the Special Committee of a Chinese issuer in an internal investigation of alleged financial irregularities (2011) 
• Winning a $43.8 million jury verdict (increased to $74 million with prejudgment interest) on behalf of a subsidiary of American General Finance, Inc. in a three week trial against a bank alleging aiding and abetting mortgage fraud—one of the top jury verdicts in the United States that year
• Successfully settling claims against Merrill Lynch & Co., Inc.’s Investment Committee and certain directors and officers in ERISA class actions arising from announcement of exposure to CDO and subprime mortgage markets (2009)
• Winning the dismissal of securities fraud, ERISA, and fiduciary duty class actions against Viacom Inc. and certain directors and officers in connection with its split-off of Blockbuster Inc. Halaris v. Viacom Inc., 2008 WL 3855044 (N.D. Tex. Aug. 19, 2008), Congregation Ezra Sholom v. Blockbuster Inc., 504 F. Supp. 2d 151 (N.D. Tex. 2007), Pfeffer v. Redstone, 965 A.2d 676 (Del. 2009)
• Obtaining the dismissal of all claims against a Lebanese bank alleged to have financed terrorism. Tamam v. Fransabank s.a.l., 677 F. Supp. 2d 720 (S.D.N.Y. 2010)
• Successfully upholding on appeal a declaratory judgment in favor of Nomura International plc interpreting a series of bond indentures. Stonebridge v. Nomura Int’l plc, 891 N.Y.S.2d 56 (N.Y. App. Div. Dec. 15, 2009), lv. app. dismissed, 2010 WL 2521389 (N.Y. June 24, 2010), aff’g 2009 WL 2045621 (N.Y. Sup. July 6, 2009)
• Successfully settling securities fraud and ERISA class actions against Delphi Corp. and its directors and officers (2009)
• Affirming summary judgment in favor of National Amusements, Inc. and its C.E.O., Sumner Redstone, in breach of fiduciary duty lawsuit and winning dismissal of remaining claims after trial. O’Connor v. Redstone, 896 N.E.2d 595 (Mass. 2008), after trial on remand, No. 2006-4606 (Mass. Super. Ct. Nov. 25, 2009)
• Successfully representing Morgan Stanley in securities fraud class actions and various state and federal court actions alleging breach of fiduciary duty, negligent misrepresentation and fraud
• Successfully representing Brazilian airline in state proceeding in New York and federal proceeding in Florida arising out of acquisition of another airline
• Obtaining the dismissal of all claims against Saudi American Bank in multiple class actions arising out of September 11, 2001 terrorist attacks. In re Terrorist Attacks on September 11, 2001, 462 F. Supp. 2d 561 (S.D.N.Y. 2006) and 349 F. Supp. 2d 765 (S.D.N.Y. 2005), app. pending, No. 11-3294(L) (2d Cir.)