Stuart Gasner

We represented Shareholder Representative Services (SRS) in its role as representative of the former shareholders of FerroKin Biosciences in a post-merger dispute with Shire Pharmaceuticals, which had refused to make a $45 million milestone payment related to the development of an experimental iron chelation drug. After a four-day bench trial, the Delaware Chancery Court entered judgment in favor of SRS, ruling in a 77-page opinion that the former FerroKin shareholders were entitled to the overdue $45 million milestone, as well as five years of interest on the payment and their attorneys’ fees and costs, which totaled more than $80 million. The judgment of the Court of Chancery was unanimously affirmed by the Delaware Supreme Court.

We represented Revance, a biotechnology company which develops next-generation dermatology products and therapeutic medicines, in a Delaware Chancery Court bench trial. The trial determined Revance’s worldwide rights to its injectable botulinum toxin product, as well as its ground-breaking topical botox product. Days after the trial, we finalized a settlement which returned all global rights to develop and commercialize both products across all indications to Revance, and resolved all outstanding litigation between the companies.

We represented the founders of a biofuel start-up in an action brought by its majority shareholder and certain board members as a derivative action for alleged breaches of fiduciary duty. We won a dismissal of the derivative action on demurrer, and achieved a substantial settlement for our clients of their affirmative claims.

We represented the former chief financial officer of a software company against Securities and Exchange Commission allegations of securities fraud in the company’s revenue recognition practices. We secured a dismissal on the eve of trial.

In a criminal options backdating case, we secured a dismissal before trial for Michael Shanahan Jr., who served on Engineered Support Systems Inc.'s board of directors and was a member of the company's compensation committee. We also represented him in a parallel options backdating action brought by the Securities and Exchange Commission. After eight days of trial testimony, a federal judge in Missouri granted our motion for judgment as a matter of law.

We won partial summary judgment for a Seattle biopharmaceutical company and its founder in a trade secret and contract action over a cystic fibrosis drug. Aided by that ruling, and the favorable progress of the trial relating to the remaining claims, another biotechnology company acquired our client for $365 million mid-trial.

We represented a biotechnology company developing a drug for a rare genetic disease in arbitration proceedings over its rights to develop its sole product under a collaboration agreement with a large pharmaceutical company. With our assistance, on the first day of the arbitration the parties reached a favorable settlement, which provided for our client’s acquisition of the life-saving drug it is developing. The FDA has now approved the drug and our client successfully conducted an IPO.

We represented the former CEO of a public company in a criminal investigation, a Securities and Exchange Commission suit, a derivative shareholder suit, a breach of contract suit by our client against his former company, and that company's counterclaim for hundreds of millions. All of these matters were related to the company's historical stock option granting practices. We resolved all of the matters against our client with net payments of more than $10 million to our client.

We represented a multi-billion dollar software company's founder and former chairman of the board in an options backdating investigation. The case was resolved on favorable terms, with no charges filed.

We represented the former controller of a failed online bank in a securities fraud action brought by the Securities and Exchange Commission. The case was settled on favorable terms.

We represented a Taiwanese manufacturer of liquid crystal display screens in a massive price-fixing investigation conducted by the U.S. Department of Justice’s Antitrust Division.

In a criminal options backdating case, we secured a dismissal before trial for Michael Shanahan Jr., who served on Engineered Support Systems Inc.'s board of directors and was a member of the company's compensation committee. We also represented him in a parallel options backdating action brought by the Securities and Exchange Commission. After eight days of trial testimony, a federal judge in Missouri granted our motion for judgment as a matter of law.

We obtained complete dismissal of a felony charge related to an on-the-job worker death. We were retained after a criminal complaint was filed and an arraignment date was set. We immediately engaged prosecutors and successfully postponed arraignment. Following months of discussions with the prosecutors and investigation into the incident, we convinced the government to voluntarily dismiss the case for insufficient evidence without ever proceeding to arraignment and without levying any fines or penalties whatsoever against the company.

We are representing a global financial services firm in a criminal investigation relating to a bank’s collapse. After the bank's demise, our client acquired its assets.

We represented Revance, a biotechnology company which develops next-generation dermatology products and therapeutic medicines, in a Delaware Chancery Court bench trial. The trial determined Revance’s worldwide rights to its injectable botulinum toxin product, as well as its ground-breaking topical botox product. Days after the trial, we finalized a settlement which returned all global rights to develop and commercialize both products across all indications to Revance, and resolved all outstanding litigation between the companies.

We represented the founders of a biofuel start-up in an action brought by its majority shareholder and certain board members as a derivative action for alleged breaches of fiduciary duty. We won a dismissal of the derivative action on demurrer, and achieved a substantial settlement for our clients of their affirmative claims.

Hawaii's former governor and other shareholders claimed a start-up company had unfairly washed them out. They brought a breach of fiduciary duty lawsuit against numerous investment banks and institutional investors, including our client. We won dismissal of the case at the trial court, and settled the case on favorable terms.

We defended a leading enterprise and mobile software company against breach of contract and related claims. The foreign plaintiff alleged he had entered into a joint venture with a company subsequently acquired by our client. We quickly mastered the facts and documents in the case, pushed for early depositions of the key witnesses and an expedited resolution through arbitration, and thus were able to secure a favorable settlement.

We represented a leading biotech venture capital and investment banking firm against its founder and former CEO’s allegations of breaches of fiduciary duty. The case was settled before trial on favorable terms.

We represented a biotechnology company developing a drug for a rare genetic disease in arbitration proceedings over its rights to develop its sole product under a collaboration agreement with a large pharmaceutical company. With our assistance, on the first day of the arbitration the parties reached a favorable settlement, which provided for our client’s acquisition of the life-saving drug it is developing. The FDA has now approved the drug and our client successfully conducted an IPO.

We represented a drug discovery start-up in a payments dispute with hedge fund Sowood Capital Management. The case was favorably resolved for our client when Sowood provided the promised funding.

We represented a partner in a San Francisco investment banking firm in a dispute over compensation relating to real estate development in Cabo San Lucas.

We represented San Mateo County and its former treasurer against a $20 million suit brought by a group of San Mateo County school districts. Following the 2008 Lehman Brothers bankruptcy - in the midst of the nationwide financial crisis - plaintiffs filed suit against the County, alleging officials violated their fiduciary duties by investing too heavily in Lehman holdings. However we convinced a San Francisco Superior Court judge to dismiss the case on the grounds that the complaint failed to comply with state and county laws governing lawsuits against public entities.

We represented a start-up drug discovery company in a collaboration agreement dispute regarding the development of a diabetes drug. We obtained a favorable settlement before arbitration was filed.

We won the dismissal of a $70 million claim brought against our client and other issuers of auction rate securities. We avoided Financial Industry Regulatory Authority arbitration when our brief resulted in the severing and stay of claims against our client, and eventual dismissal of claims against our client.