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.
• Mattel in obtaining dismissal of a securities class action alleging that Mattel 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.
• Mark Zuckerberg in litigation challenging a proposal to issue non-voting stock alleged to extend the founder’s control of Facebook, which was dismissed as moot, as well in follow-on shareholder litigation, which was dismissed. The dismissal was affirmed by the Delaware Supreme Court.