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Joshua A. Naftalis

Partner

An accomplished trial lawyer and former federal prosecutor, Josh represents companies, boards, and executives in white collar criminal defence, regulatory enforcement matters, internal investigations, high-stakes commercial disputes, and crisis management.

From 2012 to 2023, Josh was an Assistant United States Attorney in the United States Attorney’s Office for the Southern District of New York (SDNY), leading many of the government’s most significant white collar prosecutions and trials during his tenure. As a senior member of the SDNY’s Securities & Commodities Fraud Task Force for seven years, he handled high-profile matters involving insider trading, corporate and accounting fraud, market manipulation, obstruction of justice, the Foreign Corrupt Practices Act, and cryptocurrency. His headline prosecutions included United States v. Blaszczak and individuals at Visium, Goldman Sachs, McKinsey, Herbalife, KIT digital, and various SPACs. He also served on the Deputy Attorney General’s KleptoCapture Task Force and in the SDNY’s Money Laundering and Violent & Organized Crime Units, where he directed sensitive investigations involving money laundering, sanctions evasion, export control violations, and racketeering that focused on Russian oligarchs and organised crime, including as featured in the movie Molly’s Game. His work involved extensive coordination of cross-border and multi-agency investigations, including with the SEC, CFTC, and FBI.

Josh has tried fifteen cases, all to successful verdicts and outcomes. He secured convictions in every federal criminal trial that he led as an Assistant United States Attorney and was a member of the trial team in the successful defence of Airgas’ “poison pill” in the Delaware Court of Chancery. He has briefed or argued 17 appeals before the U.S. Court of Appeals for the Second Circuit. Josh was named a “Rising Star” by the New York Law Journal.

Before joining the Department of Justice, Josh practised at Wachtell, Lipton, Rosen & Katz, working principally on takeover disputes, securities litigation, and white collar matters. He was also a law clerk to The Honourable John M. Walker, Jr., Chief Judge, U.S. Court of Appeals for the Second Circuit, and to The Honourable Carol Bagley Amon, U.S. District Court for the Eastern District of New York. He received his B.A. from Yale University, magna cum laude and with distinction, and his J.D. from Columbia Law School, where he was Managing Editor of the Columbia Law Review and a James Kent Scholar.

White Collar Defense and Investigations

Independent investigation of the National Basketball Association’s referee program.

Represented a partner at a leading private equity firm in an insider trading investigation by the SEC, with no action pursued.

Represented the CEO of an international energy company in a fraud and corruption investigation by the U.S. Attorney’s Office for the Southern District of New York, resulting in a non-prosecution agreement.

Represented a leading hedge fund in a securities fraud investigation by the U.S. Attorney’s Office for the Northern District of California.

Represented a private equity firm in an investigation by the SEC of accounting fraud at one of its portfolio companies.

Represented a prominent financial services firm in an insider trading investigation by the SEC and the DOJ.

Represented the founder and CEO of a technology company in an accounting fraud prosecution by the DOJ.

Represented an executive of a financial services company in enforcement action brought by the CFPB and the New York Attorney General.

Represented a former executive of a publicly traded technology company in a securities fraud investigation by the U.S. Attorney’s Office for the Southern District of New York and the SEC.

Represented traders in a market manipulation investigation by the SEC.

Complex Civil Litigation

Successfully defended Airgas against a hostile takeover attempt by Air Products & Chemicals, including a precedent-setting trial in the Delaware Court of Chancery that upheld the “poison pill” and “just say no” defense.

Represented Rohm & Haas in expedited litigation to enforce its merger agreement with Dow Chemical.

Represented Bank of America in federal securities litigation related to the acquisition of Merrill Lynch.

Represented Silverstein Properties in insurance litigation related to World Trade Center losses.

Represented senior secured lenders of Spectrum Brands at trial challenging confirmation of the plan of reorganization seeking to reinstate clients’ $1.4 billion loan.

Successfully represented ad hoc group of Hertz creditors at trial to recover backstop fee owed in connection with the restructuring of Hertz’s European businesses.

Represented a prominent family office in cross-border litigation related to an investment in a financial services company.

Represented a group of investors in litigation against two global private equity firms to collect $1.5 billion owed on defaulted notes.

Represented the founder of stock trading platform Embed in connection with $250 million fraudulent conveyance claims asserted by the debtors in the FTX bankruptcy proceedings.

Matters Handled at DOJ

Conviction at trial of a political intelligence consultant, two hedge fund partners, and a government employee for insider trading (United States v. Blaszczak).

Conviction at trial of a Goldman Sachs investment banker for insider trading (United States v. Goel).

Successful prosecution of a McKinsey partner for insider trading based on confidential information misappropriated from Goldman Sachs (United States v. Dikshit).

Conviction at trial of a Visium portfolio manager for securities mismarking (United States v. Lumiere).

Conviction at trial of two executives for accounting fraud and market manipulation at KIT digital (United States v. Tuzman).

KleptoCapture Task Force prosecutions and asset forfeiture proceedings relating to $500 million in property involved in sanctions evasion and money laundering.

Deferred prosecution agreement with Herbalife relating to a scheme to violate the FCPA by bribing Chinese government officials, under which Herbalife paid $123 million in criminal and civil penalties.

 

* Includes matters handled prior to joining Pallas Partners (US) LLP.

Columbia Law School

J.D., James Kent Scholar; Managing Editor, Columbia Law Review

 

Yale University

B.A., magna cum laude and with distinction

Bars

New York

U.S. Court of Appeals for the Second Circuit

U.S. District Court for the Southern District of New York

U.S. District Court for the Eastern District of New York

New York Law Journal, Rising Star

Hon. John M. Walker, Jr., Chief Judge, U.S. Court of Appeals for the Second Circuit

Hon. Carol Bagley Amon, U.S. District Court for the Eastern District of New York

joshua.naftalis@pallasllp.com

+1 212 970 2303

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