Robbins LLP was sole lead counsel in this derivative litigation on behalf of a plaintiff who alleged certain Microchip officers and directors issued materially false and misleading statements regarding the operations and financial performance of Microsemi Corporation, a computer chip manufacturer Microchip acquired for $10.15 billion.  After four years of litigation, during which the complaint survived defendants' motion to dismiss, we reviewed copious amounts of documents produced by defendants, and the parties engaged in multiple mediation meetings, plaintiff prevailed. The settlement achieved a $4 million payment for Microchip from defendants' insurer and significant benefits for the Company, including acquisition oversight reforms, enhanced responsibilities imposed on the audit committee, the appointment of a chief compliance officer, and various guidelines imposed for Company directors.

Reid v. Sanghi, Case No. CV2019-002389 (Sup. Ct. AZ June 14, 2023)