A partner in the Litigation Department, Matt Stachel focuses his practice on mergers and acquisition litigation, corporate governance disputes. and stockholder litigation in the Delaware Court of Chancery and in courts across the country. Matt’s practice encompasses a range of litigation matters, including actions involving the fiduciary duties of directors, officers and controlling stockholders; mergers and acquisitions litigation; stockholder derivative litigation and securities fraud litigation; stockholder demands and Section 220 actions; and other corporate governance disputes. He also regularly advises major public companies, boards of directors and special board committees, and private equity investors and their portfolio companies on their rights and obligations. Matt has been recognized in Lawdragon’s “500 Leading Litigators in America” guides for 2026-2027.
Matt has represented clients in state and federal courts across the country, achieving favorable outcomes. Among others, his recent experience includes representing:
- MARA Holdings, Inc., a digital energy and infrastructure company, and 12 current and former directors in defense of a shareholder derivative action in the Eighth Judicial District Court of the State of Nevada alleging that the board of directors breached its fiduciary duties, was unjustly enriched, and wasted corporate assets by approving and receiving excessive non-employee director compensation. The court granted our motion to dismiss in June 2026, emphasizing that the complaint did not pass muster under Nevada's statutory business judgment standard of review.
- International Construction Products (ICP), a now-defunct heavy construction equipment importer, in securing a $100 million jury verdict in the District of Delaware in its nearly decade-long lawsuit against industry giant Caterpillar.
- The Kraft Heinz Company and certain current or former Kraft Heinz officers and directors in winning the dismissal, with prejudice, of stockholder derivative lawsuits in the Delaware Court of Chancery and the Northern District of Illinois over alleged misleading statements about the company’s performance and cost-cutting efforts.
- ExxonMobil and certain of its former executives in defeating a $3 billion federal securities case; after a three-week jury trial in the Northern District of Texas, the jury returned a complete defense verdict for all defendants, rejecting all allegations that defendants had made misrepresentations about the value of certain long-term assets and the estimates of certain proved reserves.
Matt’s additional experience in mergers & acquisitions litigation and other transaction-related disputes includes representing:
- 3G Capital in litigation related to its approximately $9 billion acquisition of Skechers U.S.A.
- Advance, a privately-owned investment company, and several current and former officers and directors in a stockholder class action brought in the Delaware Court of Chancery asserting breach of fiduciary duty claims related to the $43 billion merger between AT&T’s WarnerMedia and Discovery Inc., which Advance founded and is a majority shareholder of.
- the Special Committee of the Board of Directors of Pattern Energy Group Inc., a California-based independent power company, in litigation challenging Pattern Energy’s $6.1 billion go-private sale to the Canada Pension Plan Investment Board.
- Pilot Travel Centers (PTC), an owner and operator of travel centers across the United States intended to serve the trucking industry, in the favorable resolution on the eve of trial of a breach of contract and fiduciary duty action filed in the Delaware Court of Chancery by Pilot Corporation, a minority member of PTC, against PTC, Berkshire Hathaway, the majority members of PTC, and certain PTC board members concerning accounting methods and put right valuations.
- certain former directors and officers of Bioverativ Inc., a biopharmaceutical company focused on rare blood disorders, in a stockholder class action in the Delaware Court of Chancery alleging that the directors and officers violated their fiduciary duties in connection with Bioverativ’s $11.6 billion sale to Sanofi.
- Fireman Capital Partners in a class action by former Left Coast Ventures (LCV) shareholders in the Delaware Court of Chancery, alleging that Fireman Capital breached its fiduciary duty by amending convertible notes and warrants before LCV’s SPAC merger, diverting part of the merger consideration from LCV shareholders to itself.
- certain independent directors of Empire Resorts in stockholder litigation asserting breach of fiduciary duty claims relating to a take-private acquisition of Empire.
- Virtu Financial in a stockholder Section 220 books and records action seeking information concerning certain distributions made by Virtu to certain stockholders.
Matt’s additional experience in stockholder derivative and securities fraud litigation includes representing:
- NextEra Energy, the parent of Florida Power & Light, in derivative litigation concerning political contributions.
- Lockheed Martin Corporation and certain of its directors and officers in derivative litigation in the Southern District of New York and District of Maryland concerning cost overruns in certain government contracts.
- General Motors and certain of its directors and officers in derivative litigation concerning Cruise, GM’s self-driving car subsidiary.
- Coupang, Inc., an e-commerce firm known as “Korea’s Amazon,” and certain current and former directors and officers in derivative litigation in the U.S. District Court for the Western District of Washington, alleging that defendants made false or misleading statements and omissions regarding cybersecurity risks and a large-scale data incident and failed to timely disclose a material cybersecurity event.
- Avis Budget Group in the dismissal of a stockholder derivative litigation in the District of New Jersey concerning a stock repurchase program.
- Nikola Corporation, a manufacturer of heavy-duty commercial battery-electric vehicles, and several of its officers and directors, in derivative litigation in Arizona and Delaware, regarding alleged misstatements about the company’s products and performances.
- Snap, Inc., and several of its directors and executives, in stockholder derivative actions concerning Snap’s preparation for Apple’s rollout of new privacy changes.
- Teladoc Health, in the dismissal of derivative claims filed by stockholders alleging that the company misstated its policies governing workplace conduct following a #MeToo scandal, which led to the resignation of a senior executive.
- Regeneron Pharmaceuticals and certain of its directors and executives in derivative litigation regarding alleged misleading statements about the commercial success of EYLEA and EYLEA HD.
- World Wrestling Entertainment, Inc. ("WWE") in connection with stockholder derivative litigation alleging that WWE made misleading statements regarding the status of WWE’s media rights agreements in the Middle East and North Africa region.
- Alexion Pharmaceuticals, the country’s then-largest orphan drug company, in a federal derivative action alleging misrepresentations and omissions about Soliris—a drug used to treat certain rare blood disorders.
