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Jeffrey
S.
Facter
Partner
Education
Grinnell College, B.A., 1973
Harvard University, Law School, J.D., 1976, magna cum laude
Practice
Mr. Facter, a partner in the Litigation Group, practices in the firm’s San Francisco office. His work involves a variety of complex commercial litigation, with a special emphasis on securities litigation and derivative litigation that presents corporate governance issues.
Experience
Stock Option Backdating Representations
- At least ten representations, in SEC actions, derivative actions and class actions, based on claims of stock option backdating. Represented companies Adobe and Selectica; former CEOs of KLA-Tencor and Trident Microsystems; the former CFO of Mercury Interactive; the Special Litigation Committee of the Board of Directors of Blue Coat Systems and former Compensation Committee Directors of Rambus, Inc., Juniper Networks, Extreme Networks.
Major Victories in Derivative and Securities Litigation
- Obtained dismissal on behalf of Adobe Systems of derivative action arising out of the alleged retroactive pricing of stock options
- Obtained dismissal on behalf of Apple Computer of shareholder action brought in Santa Clara Superior Court arising out of collapse of Apple’s business in late 1995 and 1996; won affirmance of that dismissal in the California Court of Appeals
- Obtained dismissal after trial of enforcement action brought by SEC against one of the nation’s largest retail brokerage firms
- Obtained summary judgment on behalf of Adobe Systems in federal shareholder litigation and won affirmance of that judgment in the Ninth Circuit Court of Appeals
- Obtained dismissal of shareholder action on behalf of The Gap and won affirmance of that dismissal in the Ninth Circuit Court of Appeals
- Obtained voluntary dismissal by plaintiffs (after more than a year of litigation) of a derivative action against the board of directors of Adobe Systems that had challenged Adobe’s acquisition of Frame Technology
- Obtained dismissal on behalf of former Chairman of the Board of U.S. Interactive in shareholder litigation
- Obtained dismissal in the midst of trial of action brought by shareholders against the inside directors of Soft Plus, a Silicon Valley software company, in litigation arising out of a merger; obtained affirmance of that dismissal on appeal
- Obtained jury verdict on behalf of Ariba in state court action presenting insider trading and Regulation FD issues
- Obtained dismissal of federal shareholder action on behalf of Ariba arising out of a prior adverse judgment in a patent infringement action
- Obtained dismissals of both state court and federal court derivative actions on behalf of Ariba arising out of the company’s restatement of financial statements
- Obtained dismissal on behalf of the Board of Directors of FreeMarkets of a Delaware shareholder action arising out of a merger
- Obtained dismissal on behalf of directors and officers of ATI Technologies of derivative litigation
Publications
- "Fashioning a Coherent Demand Rule for Derivative Litigation in California,” 40 Santa Clara Law Review 379
Bar Admissions/Qualifications
California
New York
Illinois
Courts
United States Supreme Court
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