Blair Connelly

  • Partner
  • Eblair.connelly@lw.com
  • 885 Third Avenue
  • New York, NY 10022-4834
  • USA
  • T +1.212.906.1200
  •  
 

Profile

Blair Connelly is a partner in the New York office of Latham and Watkins. Mr. Connelly is a member of the firm’s Securities Litigation & Professional Liability Practice, focusing on corporate governance and securities litigation.

Mr. Connelly's extensive litigation experience includes advising on mergers and acquisitions, securities, and corporate governance issues. He has represented issuers, financial institutions, boards of directors, and individuals in numerous high-profile securities, merger, and takeover disputes, as well as indemnity claims. He also has experience in large, complex internal investigations, derivative actions, class action lawsuits, and SEC investigations, as well as complex insurance coverage litigation.

Mr. Connelly is recommended by The Legal 500 US for Financial Services Litigation and Defense M&A Litigation, and is recognized as a key litigator in M&A Litigation. He is a member of the firm's Finance Committee, and has served on the firm’s Paralegal Administration Committee and its Training and Career Enhancement Committee, where he ran the firm’s Deposition and Trial Advocacy training programs.

Experience

Mr. Connelly's experience includes representing:

  • Certain directors and officers of Books-A-Million, Inc., in a shareholder class action in the Delaware Court of Chancery, challenging a multi-million dollar take-private transaction; successfully argued for application of new Delaware Supreme Court precedent to obtain dismissal of all claims (Vance v. Books-A-Million Inc., C.A. No. 11343-VCL (Del. Ch. 2016); and subsequently won affirmance of that ruling before the Delaware Supreme Court (Rousset et al. v. Anderson et al., Case No. 515,2016 (Del. Supr. 2016)
  • Allergan, Inc. in litigation before the Delaware Court of Chancery and the United States District Court for the Central District of California arising from the US$53 billion hostile takeover attempt by Valeant Pharmaceuticals International and activist investor Pershing Square Capital Management; Mr. Connelly was part of the team that successfully challenged Valeant’s undisclosed trading with Pershing Square before the takeover bid was announced
  • Plains Exploration & Production Co. and its directors in the Delaware Court of Chancery in litigation challenging its US$6.6 billion merger with Freeport-McMoRan Copper & Gold Inc.; defeated plaintiffs’ motion for preliminary injunction seeking to delay the closing and require additional disclosures in its entirety (In re Plains Exploration & Production Co. Stockholder Litigation, 2013 WL 1909124 (Del. Ch. 2013))
  • K-Sea Transportation Partners, L.P. and certain of its directors in the Delaware Court of Chancery in an action challenging the US$600 million merger transaction between K-Sea and Kirby Corporation; defeated shareholder plaintiffs’ motion to expedite the case in aid of a motion for preliminary injunction (In re K-Sea Transp. Partners L.P., 2011 WL 2410395 (Del. Ch. 2011)), and subsequently obtained dismissal of all claims (In re K-Sea Transp. Partners L.P., 2012 WL 1142351 (Del.Ch. 2012)) and prevailed in a landmark ruling by the Delaware Supreme Court (Norton v. K-Sea Transp. Partners L.P., 67 A.3d 354, 2013 WL 2316550 (Del. Supr. 2013))
  • Energy Transfer Equity, L.P. in litigation challenging its US$9.2 billion acquisition of Southern Union Co. in the Delaware Court of Chancery and in the District Court of Harris County, Texas; expedited discovery and plaintiffs withdrew their motion for preliminary injunction enabling the deal to close
  • An industrial conglomerate in a breach of contract and fraud litigation against Hoechst Aktiengesellschafft arising out of a US$1.5 billion asset purchase agreement; obtained a partial summary judgment for the client's indemnity claim (Industrial Conglomerate v. Hoechst Aktiengesellschaft, 727 F. Supp. 2d 199 (SDNY 2010))

Thought Leadership

  • Delaware Supreme Court Clarifies Ab Initio Requirement Under MFW -  May 28, 2019
  • How Much Is A $30 Million Settlement Worth? -  March 13, 2017
  • Business Judgment Rule Applies to Merger Approved by Informed, Disinterested Stockholders -  October 06, 2015
  • Delaware Courts’ Recent Decisions on Appraisal May Discourage Opportunistic Appraisal Arbitrageurs -  February 20, 2015
  • Forum Selection Bylaws Gain Additional Support in California  -  December 29, 2014
  • Entire Fairness in Controlling Stockholder Transaction: In re Orchard Enterprises, Inc. Stockholder Litigation -  March 11, 2014
  • Delaware Court of Chancery Holds Forum Selection Bylaws Valid and Enforceable -  July 08, 2013
  • Obtaining Business Judgment Deference in a Controlling Stockholder Take-Private -  May 31, 2013
  • Delaware Supreme Court Addresses Master Limited Partnership Issues -  May 29, 2013
  • Lyondell Chemical Co. v. Ryan: Delaware Supreme Court Reverses Court of Chancery and Orders Summary Judgment On Issue of Directors’ Personal Liability for Bad Faith Failure to Comply with Revlon -  April 3, 2009
  • US Securities Fraud Litigation - How Long Is The Extraterritorial Reach? -  December 2008
  • The Latest Word on the Extraterritorial Reach of US Securities Fraud Litigation -  November 3, 2008
  • Virginia “Rocket Docket” Deemed Proper Venue for Securities Fraud Actions Based Upon Filing of Financial Statements with SEC through EDGAR -  January 11, 2008
  • US Federal Court Refuses to Exercise Jurisdiction over Claims by Non-US Purchasers of Shell Securities -  December 6, 2007
  • Recent Judicial Decisions Involving Stock Option Dating and Timing Issues -  May 1, 2007
  • Delaware Court of Chancery Addresses Stock Option Dating and Timing Issues -  February 8, 2007
  • D&O Insurance Issues Arising From Stock Options Dating and Timing Issues -  June 27, 2006
 Recommended for Financial Services Litigation and Defense M&A Litigation.The Legal 500 US 2017-2019
Bar Qualification
  • California
  • New York
Education
  • JD, Georgetown University Law Center, 1994
  • BA, Georgetown University, 1991
Industries
  • Oil & Gas
  • Financial Institutions
Practices
  • Securities Litigation & Professional Liability
  • Litigation & Trial Practice
  • Activism
  • Creditors Rights & Bankruptcy Litigation
  • Insurance Counseling & Recovery