Securities,
Civil Litigation,
Corporate
Sep. 13, 2013
Litigation threat in sheep's clothing
Recently, activist shareholders have taken up an unexpected strategy of attack, one that is not only sanctioned by the courts, but can catch many general counsels off guard.
James N. Kramer
Partner
Orrick, Herrington & Sutcliffe LLP
405 Howard St
San Francisco , CA 94105
Phone: (415) 773-5700
Email: jkramer@orrick.com
James is co-chair of the White Collar, Investigations, Securities Litigation & Compliance group. His practice focuses on defending companies, officers and directors in shareholder class actions, derivative suits and regulatory proceedings.
M. Todd Scott
Senior Associate
Orrick, Herrington & Sutcliffe LLP
Todd is a member of the Securities Litigation, Investigations and Enforcement Group. His practice focuses on shareholder derivative suits, securities class actions, other complex business litigation and corporate governance counseling.
Most public company general counsels can safely assume that their company is eventually going to be targeted by a shareholder lawsuit. Thankfully, given the heightened pleading requirements for securities class actions and derivative lawsuits, general counsels can also assume that absent some actual wrongdoing, plaintiffs will have a very difficult time in maintaining their case past the pleading stage. In short, the threat of shareholder litigation is real, but so too are the myriad pro...
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