Colleen C. Smith

colleen.smith@lw.com

+1.858.523.3985

Profile

Colleen Smith, a nationally recognized trial lawyer, serves as Global Vice Chair of the firm’s Securities and M&A Litigation Practice, as well as Global Vice Chair of the Public Company & Board Representation Practice.

Colleen helps public companies successfully prevent or navigate litigation related to:

Securities class actions
M&A, activism, and Delaware corporate governance
SEC enforcement matters
Other shareholder disputes

Colleen brings a well-honed strategic view to her representations, leading teams that have saved clients billions of dollars at all stages of litigation, set precedent, and protected brand-name companies from enterprise-threatening liability. She has secured award-winning defense verdicts at trial for clients across a range of industries, including technology, and healthcare and life sciences.

Before becoming a lawyer, Colleen served as a US Naval Surface Warfare Officer on the guided missile destroyer USS Decatur (DDG 73) and was one of the first women to serve in a combatant role.

After law school, she served as a law clerk for Judge David R. Thompson of the US Court of Appeals for the Ninth Circuit and Judge James H. Michael of the US District Court for the Western District of Virginia.

Experience

Colleen has represented clients in a variety of major litigation matters, including:

Securities Litigation & Trials

Maravai LifeSciences – Won dismissal of securities class action involving claims related to revenue restatements (S.D. Cal. 2026)
Petco Health & Wellness – Represented Petco in securities class action related to marketing and growth strategy that was voluntarily dismissed (S.D. Cal. 2026)
TMC The Metals Company – Won a complete dismissal of a securities class action challenging financial statements related to the accounting of royalty awards related to a strategic partnership (C.D. Cal. 2026 & 2025)
ChemoCentryx – Won summary judgment in securities class action alleging that ChemoCentryx, later acquired by Amgen, misrepresented its clinical trial results and prospects for FDA approval (N.D. Cal. 2025)
GRAIL – Won dismissal of securities fraud claims brought against GRAIL related to Illumina’s acquisition of GRAIL (S.D. Cal. 2025)
Khosla Ventures SPAC – Secured dismissal on standing grounds in a securities class action related to statements about Nextdoor Holdings, Inc. before and after a 2021 de-SPAC transaction (N.D. Cal. 2025)
Aehr Test Systems – Won dismissal of all claims against Aehr in a securities class action related to an earnings announcement that fell short of market expectations (N.D. Cal. 2025)
Opiant Pharmaceuticals – Won motion to dismiss post-close breach of fiduciary duty challenging disclosures and fairness of Indivior PLC’s acquisition of Opiant (Del. Ch. 2025)
GoodRx – Won dismissal of a securities class action challenging statements related to GoodRx’s disclosures surrounding its relationship with a large grocery chain (C.D. Cal. 2025)
Major Consumer Electronics Company – Won a first-round dismissal with prejudice in a securities class action and derivative complaint challenging the disclosure of compensation payments to top executives (S.D.N.Y. 2024)
Kohl’s – Won dismissal of securities class action involving retailer’s management of supply chain matters and revenue reporting (E.D. Wis. 2024)
Atlassian – Won dismissal of securities class action against software giant challenging trends in conversion from free to paid subscribers (N.D. Cal. 2024)
BioXcel – Won dismissal of securities class action involving claims related to clinical trial site performance (D. Conn. 2024)
Homology – Won dismissal of securities class action on first round motion to dismiss involving claims related to clinical trial of novel gene therapy (D. Mass. 2024)
Lensar – Defeated preliminary injunction seeking disclosures and damages under Section 14(a) (D. Del. 2023) and won dismissal of federal securities class action (D. Del. 2024)
General Electric – Won motion to dismiss federal securities action on behalf of General Electric related to financial disclosures (S.D.N.Y. 2023)
Morgan Stanley – Won motion seeking enforcement of federal forum selection bylaw for underwriter consortium led by Morgan Stanley (S.D. Super. Ct. 2023)
GoodRx – Won dismissal in securities class actions challenging IPO disclosures and subsequent statements following entry into the prescription-drug pricing market by a major competitor (C.D. Cal. 2022)
Alteryx – Won first dismissal on first round briefing in a securities class action related to the company’s revenue forecasts (C.D. Cal. 2021)
Enphase Energy – Won dismissal of securities class action following short-seller report alleging inflated financials due to deferred revenue accounting and tariffs on solar products manufactured overseas (N.D. Cal. 2021)
Oncternal Therapeutics – Won dismissal of securities fraud class action in connection with reverse merger with GTx (S.D.N.Y. 2020)
Piper Sandler – Secured dismissal on behalf of underwriters in securities litigation challenging IPO of Ra Medical Systems (S.D. Cal. 2020)
Obalon Therapeutics – Won dismissal of Section 11 claims on behalf of medical device company in class action challenging IPO disclosures related to its chief product and related accounting (S.D. Cal. 2019)
Lyft – Successfully represented Lyft in securities class actions in federal and state court in connection with its high-profile IPO
Puma Biotechnology – At trial, defeated more than 95% of plaintiffs’ claimed damages in rare Section 10(b) securities class action to go to jury verdict, named by the Daily Journal as one of the Top Verdicts of 2019 (C.D. Cal. 2019)
Thoratec – Successfully represented Abbott subsidiary medical device company Thoratec, Inc. in connection with securities class action claims involving its HeartWare heart pumps (N.D. Cal. 2018)
Walmart – Successfully represented Wal-Mart Stores, Inc. and was part of the team that secured dismissal of a securities fraud class action against Walmex (W.D. Ark. 2018; S.D.N.Y. 2018)
Weatherford International – Successfully represented Weatherford International in securities fraud class actions related to the Company’s restatement of certain financial statements due to tax accounting errors (S.D.N.Y. 2014; S.D.N.Y. 2015)
Alphatec Spine – Won dismissal of securities fraud class action against medical device company and senior executives regarding related-party acquisition, named by the Daily Journal as one of the Top Verdicts of 2013 (S.D. Cal. 2013, aff’d 9th Cir. 2015)
Ligand Pharmaceuticals – Won motion to dismiss securities and breach of fiduciary duty claims against Ligand Pharmaceuticals in litigation involving its acquisition of a commercial development license (E.D. Pa. 2013, aff’d 3d Cir. 2015)
K12 – Won dismissal of securities fraud claims against online education provider K12 in multiple securities class actions involving alleged misstatements regarding academic performance and recruiting practices (E.D. Va. 2013; E.D. Va. 2014)
STEC – Won unanimous defense verdict after a three-week jury trial on behalf of the CEO of technology company STEC, defeating SEC insider trading action seeking US$800 million in a case that was named one of the Daily Journal Top Verdicts of 2014 (C.D. Cal. 2014); represented the company and its founders in securities fraud class actions and derivative cases alleging disclosure violations and insider trading (C.D. Cal. 2013)
BioMed Realty – Secured dismissal of a “say-on-pay” derivative lawsuit against BioMed Realty’s officers and directors, commended by The Financial Times as a “notable victory” (D. Md. 2012)
Beckman Coulter and its officers and directors in securities fraud class action and derivative cases following reduction in guidance (C.D. Cal. 2010)
City of San Diego – Won a unanimous defense verdict on behalf of the City of San Diego in mass action involving estimated damages of US$200 million

M&A and Corporate Control Litigation

The Trade Desk – Argued and won Delaware Supreme Court affirmance of stockholder derivative action challenging founder equity grant, named by Law360 as a Top Delaware Chancery Decision of 2025 (Del. Ch. 2025, aff’d Del. 2025)
NEA – Defeated preliminary injunction motion that sought to enjoin its $1.3 billion acquisition of NeueHealth (Fl. Cir. Ct. 2025)
New Relic – Achieved a full victory defeating multiple demands for books and records following the announcement of its US$6.5 billion acquisition by Francisco Partners and TPG; a decision upheld on appeal by the Chancellor (Del. Ch. 2025)
Bridge Investment Group Holdings in its US$1.5 billion acquisition by Apollo (2025)
Altus Power in connection with its $2.2 billion acquisition by TPG (2025)
BigBear.ai in its acquisition of Pangiam (Del. Ch. 2024)
Masimo – Won civil contempt order and sanctions against activist stockholder in connection with proxy contest for control of healthcare-technology company’s board (C.D. Cal. 2025)
The Trade Desk – Won summary judgment on stockholders’ claim that proposed reincorporation from Delaware to Nevada violated company’s corporate charter (Del. Ch. 2024)
Endeavor Group Holdings – Defeated efforts to invoke charter provision to enjoin US$25B take-private transaction with Silver Lake Partners (Del. Ch. 2024)
Excel Trust – Won summary judgment and dismissal of fiduciary duty claims arising from Excel Trust’s US$2 billion acquisition by Blackstone (Md. Cir. Ct. 2023)
Bunge Limited – Defeated preliminary injunction motion that sought to enjoin a stockholder vote ahead of Bunge’s US$18 billion merger with Viterra (Mo. Cir. Ct. 2023)
MindMed – Successfully defended the board of directors of life sciences company MindMed against a proxy contest mounted by an activist investor (2023)
Searchlight Capital in connection with its take private acquisition of Hemisphere Media (Del. Ch. 2023)
Adamis Pharmaceuticals in its merger with DMK Pharmaceuticals (S.D.N.Y. 2023)
Assertio Holdings in its US$300 million acquisition of Spectrum Pharmaceuticals (S.D.N.Y. 2023)
Extra Space Storage in US$36 billion merger with Life Storage (2023)
Magellan Midstream in its US$19 billion acquisition by ONEOK (S.D.N.Y. 2023)
Opiant Pharmaceuticals in its acquisition by Indivior (S.D.N.Y. 2023)
Prometheus Biosciences in its US$11 billion acquisition by Merck (D. Del. 2023; S.D.N.Y. 2023)
The Trade Desk – Won dismissal on behalf of The Trade Desk and its directors and officers against claims of breach of fiduciary duty (Del. Ch. 2022)
Ayala Pharmaceuticals in its merger with Advaxis (S.D.N.Y. 2022)
Centennial Resources in its US$7 billion merger of equals with Colgate (S.D.N.Y. 2022)
Falcon Minerals in its US$1.9 billion acquisition by Desert Peak (Del. Ch. 2022)
Imago Biosciences in its US$1.35 billion merger with a subsidiary of Merck (S.D.N.Y. 2022)
Viasat in its US$7.3 billion acquisition of Inmarsat (D. Del, S.D.N.Y., D. Colo. 2022)
Zogenix in its US$1.9 billion acquisition by UCB (Del. Ch., D. Del. 2022)
ChemoCentryx in US$3.7 billion acquisition by Amgen (S.D.N.Y., N.D. Cal., San Mateo Super. Ct. 2022)
Tenneco in US$7.1 billion acquisition by Apollo (S.D.N.Y. 2022)
Cerner Corp. in US$28.3 billion acquisition by Oracle (E.D.N.Y. 2022), named Most Outstanding Deal of the Year at The Deal Awards 2022
Callaway Golf in US$2 billion merger with Topgolf (S.D. Cal. 2021)
Oncternal Therapeutics in its reverse merger with GTx (D. Del. 2019)
Ignyta in US$1.7 billion sale to Roche (S.D. Cal. 2018)
Puma Biotechnology – Defeated activist shareholder of biopharmaceutical developer Puma Biotechnology in his failed proxy contest for control of board. (Del. Ch. 2016)
BioMed Realty Trust in its US$8 billion sale to Blackstone Group. (Md. 2016)
Pulse Electronics – Won dismissal of claims against Pulse Electronics Special Committee in connection with its take-private by Oaktree Capital Management (S.D. Super. Ct. 2016)
Receptos in US$7.2 billion sale to Celgene (Del. Ch. 2015)
Allergan – Secured preliminary injunction against Valeant, Bill Ackman, and Pershing Square for insider trading in connection with a US$54.6 billion hostile takeover attempt of Allergan, in a transaction named The American Lawyer’s 2015 Global M&A Deal of the Year (C.D. Cal. 2015); won summary judgment of shareholder class action against Allergan and its directors alleging breaches of fiduciary duty in connection with the hostile takeover attempt (Del. Ch. 2014)
Cadence Pharmaceuticals in US$1.3 billion sale to Mallinckrodt (Del. Ch., S.D. Super. Ct. 2014)
Medicis in US$2.6 billion sale to Valeant Pharmaceuticals (Del. Ch., Maricopa Cty. Super. Ct. 2012)
Volcom in US$607 million sale to PPR (Del. Ch., Orange Cty. Super. Ct. 2011)
Financial advisor to ev3 in US$2.6 billion sale to Covidien (Del. Ch., Minn. 2010)
Financial advisor to ATS Medical in US$370 million sale to Medtronic (Minn. 2010)