Overview
John Gildersleeve represents companies, boards of directors and senior officers in securities class actions, shareholder derivative actions and other corporate governance disputes.
He has argued and won multiple appeals affirming dismissals of shareholder litigation in both federal and state courts of appeals, including the Delaware Supreme Court.
John is ranked by Chambers USA among California’s leading securities litigators.
Capabilities
Experience
John’s recent representations include:
Securities Class Actions
Intel – won dismissal of a securities class action against Intel Corporation premised on delays in Intel’s next-generation semiconductor technology, and successfully defended the dismissal on appeal.
Berkeley Lights – won dismissal of a securities class action against Berkeley Lights Inc., a pathbreaking biotherapeutics company, following a critical short-seller report.
Edison International – won dismissal of a securities class action against Edison International arising from Southern California wildfires, and successfully defended the dismissal on appeal. The result was recognized by the Daily Journal as a “Top Verdict” for 2021.
Edison International – won dismissal of separate securities class actions and ERISA stock-drop class actions relating to the retirement of the San Onofre Nuclear Generating Station, and successfully defended both dismissals on appeal.
Shareholder Derivative Actions
Skechers U.S.A. – won dismissal of breach of fiduciary duty and related claims against Skechers directors and officers relating to executive compensation, and successfully defended the dismissal on appeal.
Intel – won dismissal of breach of fiduciary duty claims against Intel directors and officers arising from disclosure of alleged vulnerabilities in Intel processors, and successfully defended the dismissal on appeal.
Edison International – won dismissal of breach of fiduciary duty claims against Edison International directors and officers arising from Southern California wildfires.
NetSuite – won dismissal of claims alleging that NetSuite founder aided and abetted breaches of fiduciary duty in connection with Oracle’s acquisition of NetSuite.
Corporate Governance Litigation
Berkshire Hathaway – defended 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.
DoubleLine Capital – won 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 victory on counterclaims significantly reducing the value of the partners’ outstanding equity.
Rent-A-Center – won an expedited trial in the Delaware Court of Chancery confirming Rent-A-Center’s right to terminate a proposed merger, followed by a settlement enabling Rent-A-Center to collect a $92.5 million termination fee.
Complex Civil Litigation
MGM Resorts International – represented the company in multijurisdictional civil litigation arising from the 2017 mass shooting at the Route 91 Harvest Festival, resulting in global settlement of plaintiffs’ claims before discovery commenced.
Defense contractor – obtained termination of SEC investigation on behalf of CEO of defense contractor following staff recommendation to file claims.
Bank executive – obtained termination of SEC investigation on behalf of bank general counsel following staff recommendation to file claims.
Life Is Beautiful – won summary judgment for the music festival in a trademark and copyright lawsuit, and successfully defended the judgment on appeal.
Bank of America – obtained favorable settlement for Bank of America, N.A. of multijurisdictional litigation arising from collapse of a $1.75 billion mortgage-backed commercial paper facility.
More
- Chambers USA, Litigation: Securities (California), since 2023
Publications
- Co-author, “Supreme Court Cabins Scope of Rule 10b-5(b) Liability for Omissions,” Reuters, Westlaw Today, May 20, 2024
Speaking Engagements
- Speaker, West Coast Securities Litigation ABA Regional CLE Program, May 5, 2023
News & Insights
Awards & Recognitions