Securities and shareholder litigation
Litigators for high-stakes securities, M&A, and shareholder litigation matters.
Our securities and shareholder litigation attorneys are widely recognized as being among the elite practitioners in their field, with a long track record of obtaining dismissals for leading corporations, financial institutions and executives in high-stakes securities class actions, M&A-related litigation, and shareholder derivative matters, as well as advising on related issues and potential disputes before they reach state or federal courts.
We have unrivalled experience defending businesses across a range of industries, and by leveraging our 600-strong global litigation team we excel in complex cases that span multiple jurisdictions within and outside the United States. Our team includes seven former senior litigators from the Department of Justice and United States Attorney’s Office for the Southern District of New York, who together have decades of experience taking dozens of federal and state trials to verdict—an invaluable weapon in securing the best outcomes for our clients.
We boast a unique and sophisticated understanding of our clients’ businesses, allowing us to execute proactive, commercial and creative litigation strategies. Our securities and shareholder litigation team works hand-in-hand with our white-collar investigations practice to deliver strategic, efficient counsel in the event of parallel investigation by the Securities and Exchange Committee, the Department of Justice, state attorneys general or other regulators around the world. And our prowess in corporate governance and seamless integration with our securities, capital markets and disclosure lawyers ensures similarly strategic advice in relation to any related securities litigation, shareholder derivative suit and/or shareholder demand for books and records.
We have deep experience defending boards, special committees, acquirors and financial advisors in litigation related to mergers, tender offers and other control transactions valued at billions of dollars, including in proceedings involving expedited or preliminary injunctive relief and damages. We also advise on potential litigation issues from the early stages of M&A transactions.
- Defending 3M Company, its board of directors and several officers in securities class action and shareholder derivative suits based on contingent liability disclosures.
- Representing Apyx Medical and its chief executive officer in securities class action based on FDA denial of medical device approval.
- Representing a director of Intelligent Systems Corp. in connection with securities class action alleging failure to disclose directors’ alleged lack of independence and financial expertise.
- Defended KLX and company executives in successfully dismissing a federal securities fraud class action litigation in the SDFL. The case involved alleged claims under Sections 10(b) and 20(a) of the ‘34 Act relating to a $640m GAAP impairment charge.
- Defended a group of financial institutions and hedge funds in obtaining a jury verdict, after a three-week trial, in a litigation alleging securities fraud and breach of contract claims.
- Represented Virgin Mobile USA and certain officers and directors in a shareholder class action brought by purchasers of the company’s common stock in its IPO.
M&A and derivative litigation
- Defending PepsiCo against claims alleging breach of fiduciary duty and business defamation.
- Defending Air Products against derivative claims by a Saudi entity, and direct claims by shareholders, for breach of contract, tortious interference, conversion and usurpation, in federal court in Pennsylvania.
- Defended the board of directors of Ambac Financial Group in stockholder derivative challenge to non-executive director compensation.
- Represented Breeze-Eastern’s directors and officers in purported class action litigation in the SDNY. The case involved alleged claims under Section 14(e) of the ‘34 Act, and breach of fiduciary duty related to the sale of Breeze’s outstanding shares through an all cash tender offer.
- Defended KLX on its $4.2bn sale of its aviation parts and services business to the Boeing Co. and the spinoff of its energy services business.
Eric B. Bruce US Head of disputes, litigation and arbitration, and global investigations
Washington, DC, New York