The Hon. Richard J. Holwell, the Southern District of New York judge who recently presided over the insider trading trial of Galleon Group founder Raj Rajaratnam, has announced his departure from the federal judiciary to open a boutique litigation firm alongside two prominent New York-based trial lawyers.
At the new firm—which will be known as Holwell Shuster & Goldberg—Judge Holwell rejoins Michael Shuster and Daniel Goldberg, with whom he practiced at White & Case before his appointment to the bench in 2003. Shuster was Global Head of Litigation at the 2,000-lawyer White & Case firm, and is recognized by Chambers USA as one of New York’s leading commercial litigators. He and Goldberg, a veteran litigator recognized by New York Super Lawyers as a top trial lawyer in New York, most recently practiced together at Kasowitz, Benson, Torres & Friedman.
“Serving as a federal judge was the honor of a lifetime,” Judge Holwell said. “But it’s time for me to stretch my legs and return to my roots as an advocate.”
Judge Holwell has participated in a number of the largest securities fraud matters to reach trial in recent decades. In addition to his widely praised handling of the Rajaratnam trial, he also presided over the 2011 securities class action trial against Vivendi—one of the few complex securities fraud trials to go to a jury verdict. In private practice, he and Shuster litigated over 30 civil and criminal suits in the U.S. and abroad arising from the insolvency of Crédit Lyonnais, including a highly publicized fraud action against Kirk Kerkorian relating to his sale of MGM Film Studios.
“We are creating an elite litigation boutique capable of handling the most demanding matters anywhere in the United States or abroad,” said Shuster.
Together with Goldberg, Judge Holwell also represented New York Governor George Pataki in high-profile litigation establishing the Governor’s authority to remove a district attorney for refusing to enforce the laws of New York in a death penalty case.
Dorit Ungar Black, a commercial litigator and international arbitration specialist, will also be a founding partner of the firm.
Drawing on the rich and varied experience of its partnership, Holwell Shuster & Goldberg will focus its practice on complex commercial litigation, securities fraud, antitrust, international arbitration, white collar, government investigation, and pro bono matters.
The firm expects to be in the forefront of the movement in the legal profession away from traditional hourly billing toward value-based fee arrangements. “The market for legal services definitely is changing,” Goldberg said. “Our new firm is committed to responding to oft-expressed client preferences for billing arrangements that are responsive to clients’ desire for cost certainty and appropriate risk sharing.”
The firm has opened its office on Feb 7 at 335 Madison Avenue in New York City.
Bio details:
Judge Richard J. Holwell
- Educated at Villanova University (B.A., 1967) and Columbia University School of Law (J.D., cum laude, 1970).
- Awarded Columbia-Cambridge Fellowship, Cambridge University Institute of Criminology (Dip. Crim., 1971).
- Extensive trial experience over the course of 30 years of private practice.
- Executive Partner for Disputes, White & Case (1995-2003).
- Appointed United States District Court Judge, Southern District of New York, on September 17, 2003.
Michael S. Shuster
- Educated at York University (B.A., 1982) and McGill University Law School (J.D.)
(Press Release by Holwell Shuster & Goldberg)
