What We Do

Equity represents investors in public companies in special-situations litigation, arising from major strategic transactions and corporate governance disputes. We frequently serve as lead counsel in class or derivative actions. We also advise investors in connection with proxy contests and other forms of shareholder activism and can also represent investors in appraisal actions.

We named our firm “Equity” for three reasons.

  • Equity Means Ownership. We represent equity investors—the owners of the company—and specialize in actions seeking to hold corporate fiduciaries accountable when they put their own interests ahead of investors.
  • Equity Means Alignment. Equity is the riskiest form of investment.  We invest our own money in our clients’ cases and work on contingency for a percentage of the recovery that we obtain. Like the investors we represent, we have skin in the game, and that aligns our interests with those of our clients.
  • Equity Means Fairness. We work to level the playing field and provide public investors with access to the same quality of representation available to corporate directors and officers. We also believe in fairness in our work. We have an equal number of women and men in our partnership. We believe that a diverse team is a better team and we’re committed to promoting equal opportunity for people who’ve traditionally been excluded or marginalized from this practice.

We also know how to help courts be creative to get to a good result. Most of our cases are filed in the Delaware Court of Chancery, which describes itself as a “court of equity.” This means that the court has broad discretion to do whatever is necessary to achieve a fair result, whether that’s awarding money, transferring voting power, or blocking an unfair transaction. We use all of those tools to get results for our clients. 

How We Do It.

Special-situations cases can refer to a variety of litigation scenarios, including, for example:

  • Class or derivative actions seeking damages in connection with conflicted transactions with a controlling shareholder
  • Appraisal actions brought by shareholders who dissent from the price offered in a cash-out sale and seek a judicial appraisal of fair value
  • Expedited challenges seeking to enjoin defensive provisions such as unfairly entrenching stockholder rights plans or advance-notice bylaws

These disputes are hard to win. The law is fast-evolving and the facts often turn on challenging questions of corporate finance or valuation. Defendants spare no expense in fighting these cases.

Equity has five key advantages that help maximize our clients’ chances of success:

  • We Understand Investors. Sophisticated investors need sophisticated counsel who can tailor legal strategies to investment theses and maximize returns. We assess potential risks, recoveries and timing at every turn. Our approach requires a deep understanding of both the numbers and the law.
  • We Know The Numbers. Lawyers often joke that they’re bad at math. Not us. The lawyers at Equity know how to build our own discounted cash flow and other valuation models, and we know how to break down the models created by sophisticated investment banks.
  • We Know The Law. Most public companies choose to incorporate in Delaware and have corporate bylaws that force investors to come to the Delaware Court of Chancery if they want to sue corporate executives or controlling shareholders.

There are no juries in Chancery. Instead, the Court’s seven expert judges (one Chancellor and six Vice Chancellors) decide both the facts and the law. And because Chancery hears all of the most important corporate law cases, there’s a lot of complicated case law that the judges have to apply.

Equity’s attorneys are well-known for being experts in the details of Delaware law. We’re frequently consulted by other lawyers representing investors or legal journalists covering the field.

  • We Can Tell A Story. It’s not enough to be an expert in the facts and the law. None of that matters unless you can convince a judge that your client deserves to win and the other lawyer’s client deserves to lose. To do that, you have to tell a story.

There’s lots of math and there’s lots of jargon but there should never be anything dry or technical or boring about corporate litigation. These are cases about greed, stealing, and lying. We know how to find the truth and explain it in clear, simple language that tells a compelling story.

  • We’re Trusted By Judges And Lawyers. There aren’t many people who do the work that we do. The same seven judges hear most of these cases. And the same lawyers represent a rotating cast of plaintiffs and defendants. In a small world, reputation matters.

Equity’s lawyers have spent years building our reputation in this legal community. Defense lawyers know we’re not afraid to go the distance even if that means litigating a case for the better part of a decade. That leads to better settlements.

And the judges know that Equity does its homework. Equity investigates every case thoroughly and we’ll only sign our name on a complaint if we think a case has strong merit. The judges trust our work and that leads to better results for our clients.