Brian D. Stewart advocates on behalf of shareholders in litigation involving mergers, acquisitions, tender offers, and change-in-control transactions, and corporate derivative litigation.
Mr. Stewart has played a role in obtaining monetary recoveries for shareholders in merger and corporate governance litigation:
• In Reith v. Lichtenstein, et al., C.A. No. 2018-0277-MTZ (Del. Ch.): recovering a $6 million fund derivatively on behalf of Steel Connect, Inc., and on behalf of a class of Steel Connect stockholders, to be distributed to common stockholders of Steel Connect.
• In re Schuff International, Inc. Stockholders Litigation, C.A. No. 10323-VCZ (Del. Ch.): achieving the largest recovery as a percentage of the underlying transaction consideration in Delaware Chancery Court merger class action history, obtaining an aggregate recovery of more than $22 million — a 114% gross increase, from $31.50 to $67.45, in total consideration per share for tendering stockholders.
• Parker v. Avril, et al., C.A. No. 2020-0280-PAF (Del. Ch.): recovered a $9.5 million fund derivatively on behalf of Babcock & Wilcox Enterprises, Inc., on behalf of a class of Babcock stockholders, to be distributed to the company and common stockholders of Babcock.
• Makris v. Ionis Pharmaceuticals, Inc., C.A. No. 2021-0681-LWW (Del. Ch.): recovered a fund of $12.5 million on behalf of a class of former stockholders of Akcea Therapeutics, Inc.
Mr. Stewart has also played a key role in obtaining injunctive relief or substantial corrective disclosures while representing shareholders in connection with M&A litigation, including obtaining such relief in the following actions:
• In re Integrated Silicon Solution, Inc. Stockholder Litig., Lead Case No. 115CV279142 (Sup. Ct. Santa Clara, CA 2015)
• Karia v. Barnes & Noble, Inc., et al., C.A. No. 2019-0552-VCL (Del. Ch. 2019)
• Swan v. Papa Murphy’s Holdings, Inc., et al., C.A. No. 2019-0343-KSJM (Del. Ch. 2019)
• Winners Circle Investment Club v. MWI Veterinary Supply, Inc., et al., C.A. No. 10608-VCG (Del. Ch. 2015)
Prior to joining Levi & Korsinsky, Mr. Stewart practiced at a litigation boutique in Washington, D.C., and investigated market manipulation and securities fraud at the Financial Industry Regulatory Authority (FINRA).
