Robbins LLP served as co-lead counsel for plaintiffs in shareholder derivative litigation alleging (among other things) that defendants breached their fiduciary duty in failing to oversee the Company's COVID-19 vaccine development process and illegally sold Company stock based on material nonpublic information. After years of litigation, including defeating (in part) defendants’ motion to dismiss based on demand futility, working with the Special Litigation Committee, multiple mediation sessions, and extended settlement negotiations, Robbins LLP secured $6.75 million for Novavax as well as significant governance reforms, including insider trading reforms, enhancements to the Audit Committee’s responsibilities, and improved board reporting guidelines.

In re Novavax Inc. Stockholder Derivative Litigation, Case No. 8:21-cv-02996-TDC (D. Md. Mar. 7, 2025):