Patrick Gibbs is Co-chair of the firm's Securities Litigation and Professional Liability Practice. He specializes in:
- Securities class actions and derivative litigation
- Securities and Exchange Commission investigations
- Internal corporate investigations
Mr. Gibbs also handles various complex litigation matters, including antitrust, consumer class actions and other types of complex business litigation. His clients have included public and private companies, venture capital and private equity firms and investment banks in a variety of industries, including:
- Computer hardware and software
- Life sciences
- Medical devices
Before joining Latham, Mr. Gibbs was a law clerk for Judge William D. Keller of the United States District Court for the Central District of California.
Mr. Gibbs has been recognized as a:
- Top securities litigation lawyer by The Legal 500 US (2009 through 2013)
- Northern California Super Lawyer in Securities Litigation by Law & Politics Magazine (2006 through 2011)
Mr. Gibbs’s recent matters include representing:
- Oracle Corporation in securing summary judgment for three of its executive officers in a $3 billion securities fraud class action arising from a missed earnings forecast in 2001. Plaintiffs alleged that defendants made false and misleading statements regarding Oracle's projected financial results, and that certain Oracle executives sold stock while in possession of material, nonpublic information. Secured affirmance by the Ninth Circuit. (In re Oracle Corporation Securities Litigation)
- STEC, Inc. and several officers and directors in securities class action and derivative litigation arising out of stock price drops following disclosures regarding competition in the enterprise class solid state drive market and an inventory build-up at STEC’s largest customer.
- Rentech, Inc. and several officers and directors in securities class action and derivative litigation arising out of a restatement of Rentech’s financial statements.
- Special Committee of Genentech, Inc. Board of Directors in connection with shareholder litigation arising out of proposal by Roche Holdings to acquire all outstanding publicly held shares of Genentech.
- Big Four audit firm in a putative class action alleging a violation Section 11 of the Securities Act of 1933 arising out of Juniper Networks, Inc.’s acquisition of NetScreen Technologies, Inc.
- PMC-Sierra, Inc. and several officers and directors in state and federal court derivative lawsuits arising out of alleged stock option backdating. Settled on very favorable terms after repeated dismissals of the federal court complaint for failure to allege demand futility.
- STT Communications in a shareholder lawsuit arising out of the acquisition of Pihana Pacific by Equinix and a majority investment in Equinix by STT. Successfully moved to dismiss.
- Big Four audit firm in derivative and putative class action litigation brought by minority shareholders of audit client Siliconix.