We help clients resolve securities and governance disputes strategically, often in uncharted legal territory. Known for our creative, forward-looking approach, we guide companies, boards and executives through class actions, derivative claims, SEC investigations and high-stakes litigation to achieve efficient results.

Securities

A national leader in high-stakes securities litigation.

Securities

Overview

Ranked nationally by Chambers USA and named a 2024 Securities Practice Group of the Year by Law360, MTO represents public companies, financial institutions, executives, founders and boards of directors in securities and other shareholder litigation and investigations across industries.

We are recognized for resolving claims efficiently at the motion to dismiss stage or through favorable settlements, for defending wins on appeal and for handling matters that move quickly and carry significant market, media and regulatory attention. In recent years, we have obtained successful results in matters arising from the effects of climate change, the opioid crisis, the “MeToo” movement and regulation of new cryptocurrency products.

Our representations span securities class actions, shareholder derivative actions and SEC and Department of Justice (DOJ) investigations and enforcement proceedings. We defend against allegations of misleading disclosures, insider trading, accounting improprieties and governance failures, as well as fiduciary duty claims and merger litigation.

With a blend of litigation strength, regulatory insight and boardroom experience, we deliver solutions that protect value and meet clients’ strategic objectives.

Clients

We represent issuers, underwriters and financial advisors, including:

Bank of America
Berkshire Hathaway
Edison International
Fox Corporation
Granite Construction
Intel Corporation
Merrill Lynch
MGM Resorts International
Northrop Grumman
Rent-A-Center
Transocean
View, Inc.
Wells Fargo
The Yucaipa Companies

We also represent individuals and special committees, including:

Sergey Brin and Larry Page, co-founders of Google
Jack Dorsey, co-founder of Twitter and Block
Evan Goldberg, co-founder of NetSuite
John Hammergren, CEO of McKesson Corporation
Paul Wachter, Jimmy Iovine, and Dr. Dre, co-founders of Beats Electronics

Experience

We have a long track record of obtaining successful results in significant shareholder litigation. Our recent representations include:

Intel Corporation in obtaining dismissal of a securities class action alleging that Intel misled investors about the progress of its next-generation microprocessor technology, and successfully defending the dismissal on appeal.
Grayscale Investments in securing a significant appellate victory in the D.C. Circuit, which vacated the SEC’s denial of Grayscale’s bid to launch the first spot bitcoin exchange-traded product (ETP) in the United States.
Berkshire Hathaway in expedited litigation in the Delaware Court of Chancery involving billion-dollar accounting-related claims by Pilot Corporation, resulting in a settlement on the eve of trial in which Berkshire acquired 100% of Pilot Travel Centers.
Edison International in obtaining dismissal of a securities class action alleging that Edison misled investors about wildfire risk mitigation efforts and potential liability for wildfire damages, and successfully defending that dismissal on appeal. The Daily Journal recognized the dismissal on its list of “Top Verdicts” for 2021.
Berkeley Lights in obtaining dismissal of a securities class action based on a negative short-seller report about the company. The plaintiffs elected not to file an amended complaint or appeal.
A toy manufacturer in obtaining dismissal of a securities class action alleging that it engaged in a channel-stuffing scheme, and successfully defending the dismissal on appeal.
View, Inc. in a securities class action raising novel issues arising out of the company’s merger with a special purpose acquisition company (SPAC) and subsequent stock price decline.
Skechers U.S.A. directors in obtaining dismissal with prejudice of a stockholder derivative suit alleging breaches of fiduciary duty relating to executive compensation, and affirmance of the dismissal by the Delaware Supreme Court.
Bank of America in obtaining dismissal of a securities class action alleging failure to disclose potential liability to AIG concerning AIG’s mortgage-backed securities losses, and successfully defending that dismissal on appeal.
Rent-A-Center in an expedited trial in the Delaware Court of Chancery resulting in a judgment confirming Rent-A-Center’s right to terminate a proposed merger and a settlement enabling Rent-A-Center to collect a $92.5 million termination fee.
DoubleLine Capital in winning a complete defense award for DoubleLine Capital and its CEO Jeffrey Gundlach following a multi-week hearing in a JAMS arbitration brought by former partners, as well as a victory on counterclaims significantly reducing the value of those partners’ outstanding equity.
John Hammergren, CEO of McKesson, in obtaining a favorable settlement of stockholder derivative claims arising from the nationwide opioid crisis.
Evan Goldberg, co-founder of NetSuite, in obtaining dismissal of derivative claims alleging that Goldberg aided and abetted Oracle’s Larry Ellison, NetSuite’s largest stockholder, in causing Oracle to acquire NetSuite at an allegedly inflated price.
The founder of a social media platform in litigation challenging a proposal to issue non-voting stock alleged to extend the founder’s control of the company, which was dismissed as moot, as well in follow-on shareholder litigation, which was dismissed. The dismissal was affirmed by the Delaware Supreme Court.