Sidley Austin LLP > Dallas, United States > Firm Profile

Sidley Austin LLP
2001 MCKINNEY AVENUE
SUITE 2000
DALLAS, TX 75201
TEXAS
United States

M&A/corporate and commercial > Shareholder activism Tier 1

Clients appreciate the ‘extremely nuanced‘ advice from the team at Sidley Austin LLP, which handles the gamut of shareholder activism matters for board members. One client dubs leadership duo Kai Liekefett and Derek Zabatwo of the best lawyers in America‘, lauded for ‘their ability to see around all dangerous corners and guide corporate strategy to the most successful outcome‘. Liekefett is based in New York and focuses exclusively on shareholder activism and takeover defense. In two decades of practice, he has worked in the UK, Germany, Hong Kong, and Japan, and is one of the most prolific advisors on proxy contests, including a high percentage of the market’s late-stage contests. Zaba, who is based at the Palo Alto office, also fully dedicates his practice to shareholder activism and has quickly established himself as one of the go-to lawyers in the field. Beth Berg (Chicago) is a senior figure with broad corporate law expertise, younger partners Leonard Wood (Houston) and Jessica Wood (New York) are also active in the shareholder activism space, and the New York office was further bolstered in January 2024 by the promotion to partner of Reuben Zaramian, who focuses on shareholder activism and corporate governance.

Practice head(s):

Kai Liekefett; Derek Zaba

Testimonials

‘Kai Liekefett and Derek Zaba are two of the best lawyers in America. Not only because of their knowledge of the law as it relates to shareholder activism, but also because their ability to see around all dangerous corners and guide corporate strategy to the most successful outcome is second to none.’

‘The advice from the Sidley team in managing shareholder activism issues is extremely nuanced, and their communications with me, other executive officers, and directors are top-notch: very responsive, at the appropriate level of detail, and delivered always with an eye toward the specific business issues we are facing and how that impacts both the advice and the timing of actions.’

‘Derek Zaba and Leonard Wood are very responsive and also helpful in creating a record of board action in case the activists take us down a different path than the one we’re trying to follow. They always have an eye toward anticipating litigation and a potential full-on proxy fight, while trying to avoid those outcomes.’

‘High-quality, tailored advice. Always available. They are part of the team, not only outside advisors.’

‘The team stand out for their skill, experience and practicality.’

Key clients

The New York Times Company

Nordstrom, Inc.

Emerson Electric Co.

Alkermes plc

Freshpet, Inc.

LivePerson, Inc.

Splunk, Inc.

Rogers Corporation

Texas Pacific Land Corporation

Pitney Bowes, Inc.

Purple Innovation, Inc.

Cutera, Inc.

Avantax, Inc.

Enhabit, Inc.

Global Net Lease, Inc./The Necessity Retail REIT

Warner Music Group Corp.

Fidelity National Information Services, Inc.

UBS Puerto Rico Family of Funds

On24, Inc.

Work highlights

  • Represented The New York Times Company in its defense against an activist campaign by celebrity activist hedge fund ValueAct Capital Partners.
  • Advised Freshpet in defense of a proxy contest launched by JANA Partners and related litigation.
  • Represented biopharmaceutical company Alkermes against activist hedge fund Sarissa Capital.

Dispute resolution > Appellate: courts of appeals / Appellate: supreme courts (states and federal)

Dispute resolution > Product liability, mass tort and class action - defense: consumer products (including tobacco) Tier 3

Environment > Environment: transactional Tier 3

Finance > Structured finance: securitization Tier 3

Media, technology and telecoms > Cyber law (including data privacy and data protection) Tier 3

The privacy and cybersecurity team at Sidley Austin LLP leverages its data breach incident response experience to offer proactive breach counseling, compliance advice and support in government investigations. The Washington DC-based team is co-headed by David Lashway and Alan Charles Raul; Lashway is noted for his cybersecurity expertise, including crisis management, misinformation and trade secret theft, while Raul advises a range of tech, telecom, software and financial clients experiencing major cyber and privacy incidents, bolstered by his experience in government work. Colleen Theresa Brown is a go-to for litigation and regulatory defense, alongside assessing the privacy and cyber risk in data-heavy acquisitions. John Woods is recommended for cyber resilience advice and data governance matters. Sean Royall departed the team in August 2023.

Practice head(s):

David Lashway; Alan Charles Raul

Other key lawyers:

John Woods; Jennifer Seale; Jonathan Wilan; Colleen Theresa Brown

Key clients

ABB

AT&T

Fidelity family of companies

AutoZone

DXC Technology Co.

Hilton Worldwide

Palo Alto Network, Inc

Marriott International, Inc.

OneMain Holdings, Inc.

SES Space & Defense

Work highlights

  • Acting as outside privacy and cybersecurity counsel for numerous leading global clients.
  • Representing multiple clients on their exposure to the recent MOVEit data breach (a hydra-headed breach centered on a single American software maker compromising data at more than 600 organizations worldwide).
  • Serving as lead counsel to multinational industrial technology giant ABB on cybersecurity matters with respect to the investigation and response to a global ransomware matter impacting systems directly or indirectly associated with critical infrastructure in 130 countries.

Finance > Capital markets: equity offerings

Latin America: International firms > Compliance and investigations

Sidley Austin LLP has a fine reputation in Latin America, including for corporate crime investigations and engagement with US government agencies. It has a long track record in FCPA investigations and is also recognised for sanctions cases. The firm is home to a number of former federal prosecutors and former officials from the DOJ and SEC. The team frequently represents clients in headline investigations by the DOJ and SEC. The Latin America corporate crime team includes New York partners Timothy Treanor and Michael Mann, along with Dallas partners Paige Holden Montgomery and David Silva; Treanor is a former federal prosecutor and is especially active in anti-corruption and white-collar defence work in Latin America, and led the team that represented CONCACAF in the DOJ’s global investigation into corruption in world football.

Practice head(s):

Timothy Treanor; Karen Popp; James Cole; Douglas Axel; David Hoffman; Yuet Ming Tham; Daniel Rubinstein

Testimonials

It is a firm that is characterised by having professionals with outstanding experience and extensive knowledge of law.

In my opinion, Sidley Austin’s Compliance and Investigations practice has a very multi-disciplinary and competent group of lawyers with large experience in different types of enforcement investigations in Latin America. They are used to dealing with different authorities in the context of negotiations.

Tim Treanor and Mike Mann are very experienced lawyers with great ability to understand the client’s issues and address then in the best way possible.

Great level of sophistication, experience, and market awareness.

Michael Mann. A very talented and sophisticated white collar lawyer, highly experienced in dealing with complex cross-border investigations.

Key clients

CONCACAF (The Confederation of North, Central America and Caribbean Association Football)

Bodega Latina Corporation

PetroTiger

Grupo Popular

Stericyle

3M Company

Vida Panamá

Exxon Mobil Corporation

Vantage Deepwater Petroleum Company

PACC Offshore Services Holdings

JPMorgan Chase & Company

Franqui Francisco Flores de Freitas

HSBC Monitor

Arthur J Gallagher & Co.

Tyson Foods

Fedex Corporation

Arthrex

Work highlights

  • Represented Stericycle in coordinated settlements resolving FCPA charges with the DOJ and SEC, and local corruption charges with Brazilian authorities.
  • Represented 29 Panamanian entities that have been sanctioned by the Office of Foreign Assets Control (OFAC).
  • Represented CONCACAF in the DOJ’s global investigation into corruption in world football.
Photo Name Position Profile
Paige Holden Montgomery photo Paige Holden Montgomery Partner