Labaton Keller Sucharow’s Corporate Governance and Shareholder Rights Litigation Practice is at the forefront of pursuing M&A, derivative, and other shareholder actions. The Firm has achieved lasting corporate governance reforms and monetary settlements for shareholders—a rarity in this type of litigation. Our experience in shareholder advocacy is demonstrated by the range of claims we have litigated. From challenging tainted multibillion dollar transactions to opposing shareholder-unfriendly bylaws used as an emerging tactic to limit shareholder rights, we are renowned as a litigation powerhouse and staunch advocate for investors.
As one of the top-tier plaintiffs’ firms with a presence in Wilmington, Delaware, the nation’s principal forum for corporate law, our boots-on-the-ground approach is invaluable to achieving our clients’ goals of real corporate reform.
On behalf of shareholders, we have challenged excessive executive compensation, improper interested-party transactions, misused corporate assets, and breaches of fiduciary duties related to violations of the Foreign Corrupt Practices Act (FCPA) and Drug Enforcement Administration (DEA) policies.
By utilizing the power of Delaware law, which empowers shareholders to issue a books and records demand to a corporation for the purpose of investigating suspected claims, our attorneys are able to navigate through comprehensive inquiries and strategically obtain crucial documentation, all while ensuring a swift and efficient process for our clients. This streamlined inquiry process eliminates the need for extensive client time commitments or court filings. Delaware's legal framework mandates corporations to furnish their books and records to shareholders with legitimate purposes, including investigations into potential wrongdoing. Our attorneys will engage with the target corporation to acquire a central set of documents emphasizing board materials and pertinent correspondence. In cases where these documents reveal misconduct or inadequate oversight, Labaton Keller Sucharow will lead negotiations aimed at instituting impactful corporate governance reforms. This strategic approach underscores our commitment to accountability and the proactive enhancement of corporate practices.
Notably, we secured the historic $1 billion cash settlement three weeks before trial in In re Dell Technologies Inc. Class V Stockholders Litigation. This $1 billion recovery currently stands as the largest shareholder settlement ever in any state court in America and the 17th largest shareholder settlement of all time in federal and state court.
Other notable recoveries include in cases against Freeport-McMoRan Copper & Gold Inc. ($153.75 million settlement), Discovery Inc. ($125 million settlement), Walmart Inc. ($123 million settlement, plus reforms), El Paso Corporation ($110 million settlement), Pattern Energy Group Inc. ($100 million settlement), Columbia Pipeline Group, Inc. ($79 million partial settlement), and Guess ($30 million settlement plus robust corporate governance reforms), among others.
