Kerry C. Donovan

Kerry’s current and recent representative experience includes the following:

Securities and M&A-Related Litigation:   

• Representing Macquarie Infrastructure Company and its former directors and officers in a securities class action in which the team recently secured a unanimous victory before the U.S. Supreme Court. In resolving a circuit split, the Supreme Court ruled that a corporation's failure to disclose certain information purportedly required by SEC regulations, absent any affirmative statement that would make such silence misleading, cannot itself be the basis of a private securities fraud claim under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
• Defense of a Teva Pharmaceuticals Industries Limited and certain of its former officers in a federal securities class action arising out of alleged underlying violations of the FCA/AKS concerning donations to patient assistance programs.
• Defense of real estate investment trust and its former board of directors in parallel securities class actions in federal and state court challenging a take-private deal, asserting claims under the Exchange Act and for breach of fiduciary duties. We achieved a highly favorable settlement after modest discovery.
• Defense of a large public supermarket chain in a post-closing earnout dispute in Delaware Chancery Court arising out of its acquisition of an online meal kit provider. After mediation, obtained an extremely favorable settlement of less than 5% of amount in dispute, with no admissions of liability. 
• Representation of a large U.S-based multinational conglomerate in its capacity as the 20% minority shareholder of a Latin American commercial bank in a post-closing ICC arbitration relating to our client’s “tag-along” rights under its shareholder agreement. Second-chaired ten-day evidentiary hearing, in which we obtained a $300 million award for the client, as well as attorneys’ fees and pre- and post-award interest. 
• Representation of a global investment bank and certain of its former directors and officers in a federal securities class action and related shareholder derivative litigation arising out of alleged underlying violations of the FCPA and other state and federal laws relating to bond offerings in Southwest Asia. Successfully secured a partial dismissal of the federal securities class action, which lowered potential damages exposure by billions.
• Representation of amici in SEC lawsuits and enforcement actions in the digital asset field, in which we filed briefs relating to whether digital assets should be considered securities. 

Antitrust and Complex Commercial Litigation:

• Representation of a global investment bank in a class action lawsuit alleging collusion among banks to restrain competition by preventing the development of anonymous exchange trading of stock loans.
• Representation of a global provider of video security solutions against breach of contract claims in an AAA proceeding. On the eve of a two-week arbitration hearing, we secured a highly favorable settlement.
• Representation of one of the world’s largest property and casualty insurers in three litigations involving billions of dollars in claims for damages stemming from the COVID-19 pandemic. We successfully obtained a full dismissal of each matter. 
• Representation of a major financial services company and certain of its subsidiaries in a putative nationwide class action alleging RICO violations in connection with the design and sale of fixed-index annuities. We successfully obtained a full dismissal of the matter. 
• Represented a multinational consumer packaged goods company against Lanham Act claims premised on allegedly deceptive marketing practices in pet food packaging. We obtained a complete dismissal of the matter, which was affirmed by the Sixth Circuit in a precedential decision. 
• Successfully secured summary judgment for a leading technology company and its CEO in a case where the plaintiff sought more than US$500 million for claims ranging from fraud to violations of statutory labor law. On appeal, obtained a decision from the Third Circuit affirming the entry of judgment.   
• Served as outside counsel to the court-appointed Examiner in an investigation into the bankruptcy of Caesars Entertainment Operating Company, Inc.