Benjamin R. Nagin

BENJAMIN NAGIN, co-leader of the firm’s global Antitrust and Competition group, represents clients in their most complex and hard-fought antitrust, class action and commercial litigation matters. He serves as lead counsel in cutting-edge antitrust matters, which include high-profile disputes and investigations related to financial services, payment systems, technology, algorithmic pricing, artificial intelligence, life sciences, and agreements affecting labor. Ben has been recognized by Chambers USA for Antitrust and listed in the peer-reviewed Best Lawyers in America for Antitrust Law and Commercial Litigation and “Super Lawyers” for Antitrust Litigation. Ben has extensive trial experience in state and federal courts, including in the Southern District of New York, bankruptcy courts and the New York State Commercial Division. Ben was recently named The American Lawyer’s “Litigator of the Week” for his leading role in the successful defense of Cantor Fitzgerald in an antitrust class action regarding forfeiture-for-competition provisions.

According to client statements to Chambers USA, Ben “displays a level of innovation and thoughtfulness, making him the person you want to call on anything antitrust.” Clients also told Chambers USA that Ben is “knowledgeable, practical, and results oriented,” and “informative even in difficult situations,” noting that he “draws upon his deep experience as a litigator to offer practical and commercially-savvy advice. He has decades of experience in big ticket cases.” They also emphasized that Ben is “very skilled in financial services and knows where things are going.” 

Elsewhere, clients say Ben’s “strategic thinking, command of the law, attention to detail and professionalism are unparalleled. He is the lawyer you want and need when you are faced with a thorny dispute.” Another client has commented that Ben is “creative, savvy and practical” and “the lawyer you want in a dog fight.” According to clients in 2018, Ben is “quick to understand the commercial imperatives, always strategic in outlook” and has “an operating style that is pragmatic and easy to work with. If you have a complex commercial dispute, you want Ben on your side.” Clients with significant antitrust matters described Ben as knowing the “antitrust issues cold” and having “unparalleled strategic thinking and responsiveness.”

In his pro bono practice, Ben has been a leader in reversing wrongful death penalty convictions. In a case in Alabama, Ben served as lead counsel and obtained the reversal of a wrongful capital murder conviction and death penalty sentence. During the final appearance in the case, the Alabama State Court Judge stated to Ben and his team that “your legal analysis throughout this process has been infallible and your courtroom demeanor has been impeccable. . . . I’m sincerely humbled by your dedication to the goal of truth and justice.”

Ben’s representative matters include:

Antitrust Matters

• Defense of a major payment card issuer in cardholder class action asserting claims under California’s Cartwright Act and Unfair Competition Law, securing a pre-discovery dismissal of antitrust claims. (Palladino et al. v. JPMorgan Chase & Co. et al. (E.D.N.Y.)). This significant victory was recognized by The American Lawyer in its Litigator of the Week feature.
• Defense of a major financial services company and related partnerships in a putative class action regarding the alleged imposition of certain post-employment non-compete conditions in violation of the Sherman Act, securing a Rule 12 dismissal (Mcloughlin et al v. Cantor Fitzgerald, L.P. et al). Ben was recognized as “Litigator of the Week” by The American Lawyer for his leading role in this important victory.
• Defense of a major collegiate athletic conference in a putative antitrust class action regarding restrictions on student-athlete compensation related to name, image, and likeness monetization, obtaining total dismissal with prejudice (Chalmers et al v. National Collegiate Athletic Association et al. (S.D.N.Y.)). This notable victory was recognized by The American Lawyer in its Litigator of the Week feature.
• Defense of a major payment card issuer in consolidated antitrust actions brought by putative class of all U.S. merchants, as well as significant opt-out actions by large merchant plaintiffs (In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation (E.D.N.Y.)).
• Defense of residential real estate company in consolidated antitrust class actions related to algorithmic revenue management software (In re RealPage Rental Software Antitrust Litigation (M.D. Tenn.)).
• Defense of global financial institution against conspiracy claims regarding payment card fraud liability (N.D. Cal.).  Obtained pre-discovery dismissal of all claims.
• Defense of a major investment bank in consolidated antitrust action concerning credit default swaps (In re Credit Default Swaps Antitrust Litigation (S.D.N.Y.)). Obtained early, strategic favorable settlement.
• Defense of an international chemical joint venture in class action alleging per se unlawful price fixing and supply constraints under the Sherman Act (In re: Diisocyanates Antitrust Litigation (W.D. Pa.)). Obtained early, highly favorable settlement.
• Defense of a major investment bank in antitrust action regarding IPO pricing (In re Issuer Plaintiff Initial Public Offering Antitrust Litigation (S.D.N.Y.)).
• Defense of major financial institution against claims filed in Texas state court (Harris County) under the Texas Fair Enterprise & Antitrust Act.
• Represent clients in enforcement and investigatory matters before the DOJ, FTC, CFPB and state attorneys general, including with respect to no-poach, payment card, and consumer finance issues.

Commercial Disputes

• A financial services firm in a successful appeal to the Supreme Court of Delaware relating to key provisions in its limited partnership agreement. The state’s high court reversed a Chancery Court ruling that invalidated client’s forfeiture for competition provisions (Cantor Fitzgerald, L.P. v. Ainslie, No. 162, 2023 (Del.)). This significant reversal was recognized by The American Lawyer in its Litigator of the Week feature.
• A bank in breach of representation and warranty action brought by special servicer regarding commercial mortgage loan purchase agreement. Obtained pre-discovery dismissal of all claims (Wells Fargo Bank, N.A., as Trustee for the registered holders of J.P. Morgan Chase Commercial Mortgage Corp, Commercial Mortgage Pass-Through Certificates, Series 2002-CIBC4, acting by and through its Special Servicer, LNR Partners, LLC v. JPMorgan Chase Bank, N.A., 2014 WL 1259630 (S.D.N.Y. March 27, 2014)), affirmed, 2016 WL 1042020 (2nd Cir. March 16, 2016).
• An ad hoc noteholder group and indenture trustee in preliminary injunction proceedings and expedited trial, respectively, regarding contested redemption of debt securities. Following trial, the district court commended the parties’ lawyers for their “all-around excellence” and described the lawyers’ advocacy as “simply superb.” After an adverse decision by the district court, the Second Circuit reversed and confirmed the indenture trustee’s interpretation of the redemption provisions (Chesapeake Energy Corp. v. The Bank of New York Mellon Company, N.A.).
• A global animal health company in the emergency enforcement of a product supply agreement.
• A global medical devices and health care company in the emergency enforcement of a major corporate spinoff.
• A European bank in the enforcement of construction completion guaranty and related agreements arising out of a resort development in the U.S. Virgin Islands. Obtained US$38 million judgment for the client.
• A title insurance company in loan and guaranty enforcement action. Prevailed on pre-discovery motion for summary judgment on all claims (Stewart Information Services Corp. v. CorporatAir LLC et al., 951 N.Y.S.2d 83, 2012 WL 1649883 (N.Y. Supreme Court, Commercial Div. Apr. 16, 2012).
• Obtained US$32 million judgment for lessors against airline for breach of aircraft lease agreements (Wells Fargo Bank, N.A. v. TACA International Airlines, S.A., 315 F. Supp.2d 347 (S.D.N.Y. 2003)).
• Obtained US$26 million award for client against competing international telecommunications provider in private arbitration.

Bankruptcy Court Litigation

• Defense of a major payment card issuer in putative class action brought by Chapter 7 debtor regarding credit reporting and statutory bankruptcy discharge injunction (In re: Kimberly Bruce (S.D.N.Y.)). The dismissal of nationwide class allegations by the Second Circuit was recognized by The American Lawyer in its Litigator of the Week feature.
• Defense of an investment management firm in fraudulent transfer action brought by Chapter 7 trustee regarding asset-based loan.
• Representation of equity and other committees in litigation matters in Chapter 11 proceedings relating to transportation, financial services and other industries.

Advisory and Regulatory Work

Ben’s advisory and regulatory matters include:

• Antitrust issues arising from recruiting and employment-related conduct.
• Antitrust issues arising from ESG and DEI related conduct.
• DOJ and FTC investigations into proposed transactions and compliance with myriad regulations including in the payment space.
• CFPB and DOJ investigations into certain consumer finance issues for financial institutions.
• State Attorney General investigations into alleged antitrust violations.
• A major international airline regarding rights and strategic options in relation to multi-billion dollar commercial relationship.
• Numerous financial institution clients regarding litigation risks arising from commercial relationships and business lines, including cross-border agreements.

• Ben is an active member of the American Bar Association, currently serving as the Antitrust Law Section’s Vice Chair of Pricing Conduct. He also serves on the Editorial Board of the Quick Look, a weekly publication of the Section’s Joint Conduct Committee.
• In 2019, Ben was elected as a Fellow of the New York Bar Foundation.
• Ben previously served on Law360’s Competition Editorial Board.
• Ben is a member of the Global Council of the Studio Museum in Harlem.
• Ben has completed numerous marathons, including in New York, Boston, New Jersey, and Pennsylvania.

Ben also has handled numerous high-profile pro bono matters. In July 2010, Ben was lead counsel in a death penalty evidentiary hearing in Mobile, Alabama. On November 2, 2012, following extensive post-hearing briefing, the Circuit Court for Mobile County, Alabama, vacated the capital murder conviction and death sentence of William Ziegler and granted Mr. Ziegler a new trial, finding numerous constitutional violations in connection with the original capital murder trial. (State of Alabama v. Ziegler). In May 2014, the Alabama Criminal Court of Appeals unanimously affirmed the judgment granting Mr. Ziegler a new trial. This important case was reviewed in an article in the Mobile Press Register, “How the system failed William Ziegler: Perjured testimony, trashed evidence, lying jurors” (February 1, 2013). This case was also mentioned in an article in Law360, “Pro Bono Firm of 2014: Sidley Austin” (October 23, 2014). During the final appearance in the case in 2015, the presiding Judge (now a member of the Alabama Supreme Court), stated to Ben and his team that “your legal analysis throughout this process has been infallible and your court room demeanor has been impeccable.” She also stated that “Each of you stand for the very best of our profession” and “I’m sincerely humbled by your dedication to the goal of truth and justice.”