Robert Reznick

Partner

Washington, D.C.


Read full biography at www.orrick.com
Rob Reznick is a partner in the firm’s Complex Litigation & Dispute Resolution Group, with a focus on the representation of pharmaceutical and other life sciences companies. He is Co-Chair of the Firm's Life Sciences Practice.

His practice includes the representation of drug manufacturers and other commercial entities in industry-wide multi-plaintiff and class action litigation involving alleged price-fixing and other collusive conduct, claims of fraud, violations of RICO, Walker Process patent-based antitrust claims, and in enforcement actions against the sale of illegally imported and diverted drugs and medical devices. Rob also represents drug industry clients in connection with Federal Trade Commission investigations and enforcement actions, and served as co-lead counsel to a major international drug manufacturer in the defense of nationwide litigation challenging industry pricing practices. Rob is also outside counsel to and Corporate Secretary of, the Pharmaceutical Security Institute, Inc., the brand name pharmaceutical industry’s not-for-profit trade organization dedicated to the fight against pharmaceutical counterfeiting.

Outside the pharmaceutical industry, Rob's principal work has been in defending against RICO, False Claims Act, antitrust, and other claims based on federal statutes. Much of this work has involved U.S. litigation against foreign businesses. He is Managing Editor of The World in US Courts: Orrick's Quarterly Review of Decisions Applying US Law to Global Business and Cross-Border Activities.

Rob also has extensive experience representing clients in product safety matters before the U.S. Consumer Product Safety Commission.

Prior to joining Orrick, Rob was a partner in Hughes Hubbard & Reed LLP, where he served as co-chair of the firm’s Pharmaceutical and Healthcare Industry and Product Safety Practice Groups. He was also the Washington, D.C., Office Pro Bono Coordinator.

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Posts by: Robert Reznick

Second Circuit Ruling Creates Challenge for Securities Class Action Plaintiffs

The Second Circuit recently considered the extraterritorial application of the U.S. securities laws in the private securities class action context, bringing some clarity to an area of the law that is increasingly important given the globalization of financial markets.

In re Petrobras Securities, 862 F.3d 250 (2nd Cir. 2017), was an appeal of a class certification order in a securities class action related to an alleged multi-year money-laundering and kickback scheme involving Petróleo Brasileiro S.A. (“Petrobras”), the Brazilian state-owned oil and gas company. The district court had certified two classes of investors who purchased Petrobras American Depository Shares (ADS) and debt securities, and who brought misrepresentation claims under the Securities Act of 1933 and the Securities Exchange Act of 1934 against Petrobras, its subsidiaries, and its underwriters. Morrison v. National Australia Bank Ltd., 561 U.S. 247 (2010), held that the anti-fraud provisions of the securities laws have no extraterritorial effect, and as a consequence apply only to transactions in securities that occur on a U.S.-based exchange or that are otherwise “domestic.” Petrobras ADS shares satisfied the first requirement, but the company’s debt securities are traded over-the-counter, not on a U.S. exchange. Prior decisions had limited “domestic” transactions to ones where (1) the purchaser “incurred irrevocable liability within the United States to take and pay for a security . . . or to deliver a security” or (2) “legal title to the security . . . transferred in the United States” (see, e.g., Absolute Activist Value Master Fund Ltd. v. Ficeto, 677 F.3d 60, 68 (2d Cir. 2012)), but how this test implicated the standards for class certification was not clear. READ MORE