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Paul Hastings Attorney William Sullivan Receives California Lawyers Attorney of the Year (CLAY) Award

February 17, 2006

PAUL HASTINGS ATTORNEY WILLIAM SULLIVAN RECEIVES CALIFORNIA LAWYER’S ATTORNEY OF THE YEAR (CLAY) AWARD

San Diego, CA (February 17, 2006) - -  Paul, Hastings, Janofsky & Walker LLP (Paul Hastings), a leading international law firm, is pleased to announce that William Sullivan, Chairman of the Securities Litigation Practice Group, has been named California Lawyer’s  Attorney of the Year (CLAY) for his work in Securities Law. 

Sullivan received the CLAY Award for his work on behalf of client Dura Pharmaceuticals in successfully arguing before the U.S. Supreme Court that a securities fraud claim must specifically include allegations of a direct link between a fall in the company’s stock price and the alleged fraud or misrepresentation.

"Bill’s work representing Dura Pharmaceuticals, the first securities litigation case before the U.S. Supreme Court in almost a decade, set the standard for every securities class action case in the nation,” said Jamie Wareham, Global Chair of Paul Hastings' Litigation Department. "This award is a testament to the fact that Bill is one of the most accomplished lawyers in the country."

Sullivan is a member of the firm's Litigation Steering Committee and is the Managing Partner of the firm’s San Diego office.  He has substantial experience in the representation of public companies in the defense of federal and state securities class actions, derivative actions and regulatory proceedings.  Most of these cases involve claims arising out of public offerings, mergers and acquisitions, disclosure obligations, insider trading, accounting practices or allegations of breaches of fiduciary duties. Sullivan has substantial experience counseling public companies on corporate governance and on disclosure issues, and has counseled boards of directors in special investigations.

Sullivan is among 47 attorneys that are recipients of the tenth annual California Lawyer of the Year (CLAY) award which recognizes lawyers who made a significant impact on the legal industry.  Every year, the CLAY Awards recognize attorneys in several practice areas. The lawyers selected as Attorneys of the Year for 2006 substantially influenced public policy or a particular industry, brought about a significant development in their field of practice or in law-firm management, or achieved a notable victory for a client or for the public in a difficult, high-stakes matter.

Paul Hastings Janofsky & Walker LLP, founded in 1951, is a leading international law firm with 1,000 attorneys in 17 offices. The firm serves a diverse client base including many of the top financial institutions and Fortune 500 companies, supports clients in all of their legal needs and offers deep capabilities in Banking and Finance, Capital Markets, Corporate/M+A, Litigation and Dispute Resolution, Intellectual Property, Project Finance, Investment Management, Real Estate, Labor and Employment and Tax Advisory Services. For additional information, please visit our website at www.paulhastings.com.