Steven Reiss

District of Columbia

District of Columbia Bar

Since 1978

Partner

Weil, Gotshal & Manges LLP

Current

Current

Air Cargo LitigationLead counsel defending American Airlines in over 100 consolidated class actions charging the fixing of fuel surcharges in the airline cargo industry.  Orthopedics Implants LitigationLead counsel defending Johnson & Johnson in multiple class actions alleging collusion in the market for orthopedic implants.  In Re Auction Houses LitigationLead counsel defending Sotheby's in 60 consolidated antitrust class actions charging price-fixing with Christie's brought on behalf of all buyers and sellers in US auctions conducted by Sotheby's and Christie's from 1993-2000. Engineered settlement in which the cash component for which Sotheby's was responsible was less than 10% of the entire settlement.  Kruman v. Christie's et al.Lead counsel defending Sotheby's in consolidated antitrust class actions charging price-fixing with Christie's brought on behalf of all buyers and sellers in auctions conducted by Sotheby's and Christie's outside the United States from 1993-2000. Formulated a first of its kind settlement that effectively resolved all of Sotheby's worldwide liability on a class wide basis. Thomas & Thomas Rodmakers v. Newport Adhesives & Composites et al.Counsel to carbon fiber industry leader Toray Industries in a consolidated antitrust class action alleging price-fixing and market allocation in the carbon fiber and advanced composites industry. United States ex rel. Beck v. Hexcel Corp. et al.Counsel to Toray Industries in a qui tam action alleging that carbon fiber manufacturers were responsible for making "false claims" to the government because they charged inflated prices for carbon fiber as a result of an alleged price fixing conspiracy. The case was dismissed.  In re Ethylene Propylene Diene Monomer (EPDM) Antitrust LitigationCounsel to ExxonMobil in consolidated class actions alleging price-fixing in the market for EPDM, a rubber product.  In re Amino Acid Antitrust LitigationCounsel to Kyowa Hakko, a Japanese company, in antitrust class action alleging price fixing among the producers of lysine. In re Vitamins Antitrust LitigationCounsel to Sumitomo Chemical in consolidated class actions alleging price-fixing in the US and international markets for vitamins.  In re Graphite Electrodes Antitrust LitigationCounsel to SEC, a Japanese producer of graphite electrodes, in consolidated class action alleging price fixing in the graphite electrodes industry.  Atlantic Embroidery, Inc. v. Vanguard Military EquipmentLead counsel defending Vanguard in an antitrust suit alleging bid-rigging with respect to a naval supply contract. The suit was dismissed.

Current

Newark Morning Ledger v. United StatesCounsel to Newark Morning Ledger in a tax case that raised the issue whether customer-based intangibles, such as customer lists, are depreciable assets or non-depreciable good will. In a landmark 5-4 decision, the US Supreme Court ruled for Newark Morning Ledger. Because there were over 700 pending cases raising the same issue, the decision had a $17 billion effect on tax revenues. Congress subsequently revised the law to account for the decision.  BellSouth Products v. US ElectronicsLead counsel for US Electronics, a telephone distributor, in a suit against BellSouth alleging a breach of an exclusive distribution agreement. After the conclusion of preliminary injunction hearings, BellSouth settled he case with a $200 million payment to US Electronics, one of the largest commercial settlements in the United States.  New York v. General Motors Acceptance Corp.Lead counsel defending GMAC in a suit by the New York Attorney General alleging violations of the Real Settlement Procedures Act and the state Unfair Trade Practices Act. The suit was settled favorably to GMAC.  Marcella & Co. v. AvonLead counsel defending Avon in a putative class action brought on behalf of all Avon representatives who participated in Avon's Sponsorship recruiting program. Plaintiffs alleged that, as a result of representations made in various promotional literature, Avon was obligated to continue the program and pay benefits under it. The suit was dismissed by the Appellate Division.  Avon Products v. S.C. JohnsonLead counsel in a Lanham Act case in which S.C. Johnson charged that Avon was falsely promoting its famous Skin-So-Soft bath oil as an insect repellent. We secured a complete victory for Avon at trial by demonstrating that the bath oil actually did work as an insect repellent.  Oracle Corp. v. Commissioner of Internal Revenue ServiceLead counsel defending Oracle's utilization of a foreign tax credit for software produced outside the United States. After years of litigation, the IRS conceded the correctness of the deduction, which was worth approximately $200 million to Oracle.  Gore v. BMWRepresented the BMW AG, the German parent company, in the litigation that lead to the Supreme Court's landmark decision on punitive damages. Succeeded in getting the Alabama Supreme Court to dismiss the suit against the parent company.  Frydman v. CosmairLead counsel defending Cosmair and its French parent, L'Oreal, in a high-profile case charging fraud and other defalcations growing out of L'Oreal's alleged participation in the Arab boycott of Israel. The case was dismissed.  Luckett v. Sotheby'sLead counsel for Sotheby's at a trial challenging Sotheby's promotion and auction of a prominent collection of Southwestern antiques. Trial resulted in a complete defense verdict for Sotheby's. Worthington Industries v. Chase Manhattan Capital Corp.Lead counsel to Chase Manhattan in litigation over the ownership and value of stock options. CMCC won judgment on its $30 million claim.  General Motors Acceptance Corp. v. McNamaraLead counsel to GMAC in a suit to recover over $450 million from John McNamara in what was, at the time, the biggest single-victim fraud in history. McNamara was subsequently convicted on criminal RICO violations and served 5 years in prison.  Ray v. General Motors Acceptance Corp.Lead counsel defending GMAC in a RICO class action arising out of the McNamara fraud. The case was dismissed.  Anco Painting v. Hudson Shatz Painting Co.Lead counsel defending RICO charging various labor racketeering violations. The case was dismissed.  Counsel to Harvey Miller, Trustee for Stratton OakmontLead counsel to the Trustee appointed under the Securities Investor Protection Act (SIPA) to pursue claims on behalf of the creditors and account holders of the notorious Stratton Oakmont brokerage firm. Worked with the US Department of Justice to secure millions of dollars in funds from the culpable Stratton Oakmont principals for distribution to those injured by the firm's defalcations.  Bill Blass. Ltd. v. Pincus BrothersLead counsel to Bill Blass in suit brought to recover licensing fees and to reform a licensing arrangement. The suit was settled for the amount of the claim.  Loral Corp. v. Matsushita et al.Counsel to Matsushita in a patent infringement action involving charge coupled devices or CCD's, a semiconductor chip that is commonly used as the "seeing eye" in products such as camcorders, video cameras and many fax machines. Succeeded in proving that Matsushita had a license to use the patents and obtaining judgment in Matsushita's favor.

Current

Consumers Union v. Empire Blue CrossLead counsel defending Empire Blue Cross in its conversion from a not-for-profit insurer to a for profit insurer. Successful in having multiple constitutional challenges brought by a host of organizations dismissed.  Silver v. PatakiLead counsel to the Speaker of the New York State Assembly, and the Assembly itself in a landmark suit challenging the Governor's use of the line-item veto in bills other than appropriation bills during the 1998 budget session. The suit has already gone to the New York Court of Appeals - New York's highest court - once on the issue of the Speaker's standing to sue the Governor, and resulted in a landmark ruling in the Speaker's favor. The merits of the suit are currently sub judice in the Appellate Division (First Department) of the New York Supreme Court. Pataki v. AssemblyLead counsel to the New York State Assembly in a landmark suit over the respective powers of the Governor and the Legislature over the budget growing out of the Legislature's actions with respect to the 2001 budget. The suit is currently pending in the Appellate Division (Third Department) of the New York Supreme Court.  Straniere v. SilverLead counsel to the Speaker of the New York State Assembly in a suit that determined whether Staten Island would be permitted to secede from New York City to form a new city (which would have been the second largest city in New York State). We prevailed in the New York Court of Appeals, and Staten Island is still part of New York City.  Miller v. SilvermanRepresented the Rent Stabilization Association - the umbrella group for New York City landlords, in a class action alleging that the New York City Housing Court was systemically biased against landlords. The case resulted in several Housing Court reforms. New York Urban League v. Metropolitan Transit AuthorityCounsel to the New York State Assembly, a defendant in a suit challenging the subway fare increase enacted by the Legislature. The challenge was unsuccessful. US Supreme CourtMr. Reiss has authored numerous briefs to the United States Supreme Court on behalf of various amici to cases before that Court. For example, Mr. Reiss recently filed a brief on behalf of business leaders, including Warren Buffet and Paul Volker, in support of the constitutionality of the Bipartisan Campaign Finance Reform Act, commonly known as the McCain-Feingold legislation.

Current

Department of Justice Air Cargo InvestigationCounsel for American Airlines in investigation by the Antitrust Division of the Department of Justice into potential price-fixing in the air cargo market.  Department of Justice Orthopedic Implants InvestigationCounsel for Johnson & Johnson in investigation by the Antitrust Division of the Department of Justice into potential collusion in the market for orthopedic implants.  United States v. WittigCounsel to the former CEO of Westar Industries on the appeal of his conviction and 18-year sentence for conspiracy, mail fraud and money laundering.  United States v. Sotheby'sLead counsel in defense of Sotheby's, which was charged with a conspiracy to fix prices with its arch-rival Christie's. A plea agreement was reached in which Sotheby's was fined at a level below the minimum required by the Sentencing Guidelines. United States v. ZimmermanSuccessfully represented a prominent Denver lawyer convicted of conspiring to commit bankruptcy fraud on the appeal of his conviction. Immediately after oral argument, the Tenth Circuit ordered Zimmerman's release from prison; and then issued a decision reversing the conviction. Department of Justice Carbon Fiber Industry InvestigationCounsel for Toray Industries, the world's leading carbon fiber producer, in a Department of Justice investigation into potential antitrust violations in the carbon fiber and advance composites industry. To date, after more than 6 years of investigation, no charges have been brought against Toray. Department of Justice Plastics Additives InvestigationCounsel to a Japanese producer of plastics additives in connection with a Department of Justice investigation into potential antitrust violations. To date, no charges have been brought. United States v. Kyowa HakkoLead counsel defending defended Kyowa Hakko in a criminal antitrust prosecution. United States v. SEC Corp.Lead counsel for SEC in a criminal prosecution for price-fixing in the graphite electrodes industry. United States v. Guida Siebert DairyLead counsel defending Guida-Siebert dairy in criminal antitrust prosecution for bid-rigging in the school milk industry.

Stanford University

J.D.

1976

Vassar College

B.A.

1973

District of Columbia Bar

Member

1978 - Current

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Antitrust Seminar Series: What Companies Need to Know When Facing DOJ Investigations (25th Floor Conference Center (New York) or participate live via video cast from our Dallas, Houston, Silicon Valley or Washington DC offices., April 26, 2006) more

A National Conference on American Business & The U.S. Supreme Court. Sponsored by The Directors Roundtable. (New York, NY, October 17, 2001)