Patti Weiser, co-founder of the firm, focuses her practice on shareholder class action litigation, challenging management misconduct in connection with corporate takeovers and disputed contests for corporate control. Ms. Weiser has successfully litigated and settled cases against numerous publicly traded companies, yielding multi-million dollar benefits to shareholders, including:
- Atlas Energy, Inc. (over $7 million to shareholder class plus disclosure of forty additional pages of material information concerning the challenged transaction)
- Mediacom Communications Corporation (over $10 million to shareholder class plus additional material disclosures)
- Sodexho Marriot ($166 million to the class)
- Travelocity.com ($75 million to the class)
- Delhaize America ($225 million to the class)
- Unocal Corporation ($500 million in additional merger consideration from Chevron Corporation)
Ms. Weiser has been successful in winning injunctive relief from the Delaware Chancery Court in connection with challenges to merger transactions which were alleged to be unfair to shareholders, including, In re Art Tech. Grp., Inc., S’holders Litig., (Court enjoined the close of a $1 billion merger transaction finding defendants failed to disclose material information concerning potential conflicts of interest) and Weigard v. Hicks, et al., No. 5732-VCS (“Health Grades”). In Health Grades, Ms. Weiser and co-counsel won an injunction, having successfully demonstrated to the Delaware Chancery Court that the defendants had likely breached their fiduciary duties to the company’s shareholders by failing to maximize value as required by Revlon, Inc. v. MacAndrews & Forbes Holdings, Inc., 506 A.2d 173 (Del. 1986). At the preliminary injunction hearing in Health Grades, then Vice Chancellor Strine “applaud[ed]” counsel for their preparation and the extraordinary high-quality of the work:
“I want to applaud the lawyers today for being so well prepared. And I particularly want to applaud the plaintiffs for being not only well prepared but exceedingly measured and logical in their argument. I really — in a world where we all read briefs and letters and probably read e-mails focused their claims — you know, the claims they pressed in the injunction in a reasonable way. They haven’t thrown hand grenades; but they’ve made some, frankly, very potent arguments about the reasonableness of the board’s process without, frankly, making wildly speculative — often we see sinister motives thrown around without basis. Mr. Jenkins and his team admirably really focused on the core of the matter and in a very skillful way.”
Ms. Weiser was also part of the litigation team that won an injunction in the seminal Delaware Chancery Court case In re Pure Res. S’holder Litig., forcing changes to certain terms of the proposed transaction as well as the public disclosure of significant additional information concerning the transaction, and, ultimately being partially responsible for an aggregate financial benefit of approximately $41 million for the shareholder class.
Ms. Weiser graduated from St. Joseph’s University in 1991 with a B.A. in English, and graduated from Widener University School of Law in 1996. She is a member of both the Pennsylvania Bar and New Jersey Bar, and has been admitted to practice before numerous state and federal courts nationwide.