Brian T. Glennon

Mr. Glennon’s achievements include:

• Secured summary judgment on behalf of Oracle Corporation and its officers in a US$3 billion securities fraud class action arising from a missed earnings forecast. The judgement was later affirmed by the Ninth Circuit in a published, precedential decision.
• Defended Wal-Mart Stores, Inc., Wal-Mart’s Mexican subsidiary, and its executives in a high-profile securities fraud class action filed in the US District Court for the Southern District of New York. Obtained a complete dismissal with prejudice of all claims against all defendants at the pleadings stage.
• Defended LogMeIn and its senior executives in a string of high-profile securities class actions filed in federal and state court, as well as a shareholder derivative lawsuit, following LogMeIn’s US$1.8 billion acquisition of Citrix’s “GoTo” business. Obtained complete dismissals with prejudice of all lawsuits at the pleadings stage, earning Mr. Glennon recognition in American Lawyer’s Litigator of the Week publication.
• Defended Insight Enterprises, Inc. and its officers and directors in a securities fraud class action and multiple derivative cases following Insight’s restatement announcement. Obtained dismissals with prejudice of all lawsuits at the pleadings stage. These dismissals were later affirmed on appeal.
• Represented Avago in its high-profile US$37 billion acquisition of Broadcom (the largest such acquisition at the time). In the face of Avago's pending motion to dismiss, the shareholder plaintiffs agreed to dismiss all claims against Mr. Glennon's clients in a "disclosure only" settlement, and nominal attorney's fees.
• Represented Hudson Pacific Properties and its Board in a shareholder lawsuit arising out of a US$3.5 billion acquisition. After defeating plaintiff’s emergency motion to enjoin the shareholder vote (a ruling that was named Verdict of the Year in 2015 by The Daily Journal), the plaintiff voluntarily dismissed the lawsuit against all defendants with prejudice.
• Successfully represented the founder, former Chairman, and CEO of Banc of California in a securities class action and three shareholder derivative lawsuits arising out of a short-seller report which resulted in a stock drop. At the conclusion of fact discovery, the plaintiff dismissed the client with prejudice (with a full release, but no payment) and agreed to state in the dismissal papers that the key allegations made about the client lacked any proof. The plaintiffs in the three related shareholder derivative cases voluntarily dismissed their cases.
• Represented a Big Four accounting firm against claims of professional malpractice in two confidential arbitrations in which the claimants alleged well more than US$1 billion in damages. Following a two week evidentiary hearing, but before any award was rendered, the claimant agreed to settle the case and dismiss all claims for a nominal settlement payment.
• Represented KPMG LLP in a shareholder derivative lawsuit alleging claims of professional malpractice and aiding and abetting breaches of fiduciary duty in connection with its audits of a technology company accused of stock option backdating. Achieved a complete dismissal with prejudice at the pleadings stage.
• Represented the former CEO of Wilshire State Bank in a securities fraud class action and related derivative cases following the bank’s disclosure of a material adjustment to earnings. Obtained dismissals with prejudice of all lawsuits. The decision was featured by The Daily Journal.
• Defended the company and individual defendants in a complex commercial litigation jury trial involving alleged damages in excess of US$100 million. Following four weeks of trial, the jury returned a complete defense verdict after deliberating for less than 24 hours.
• Represented minority shareholders in a shareholder derivative lawsuit which ultimately culminated in a hearing before an en banc panel of the Nevada Supreme Court. Mr. Glennon successfully argued the appeal and obtained a reversal of the lower court's decision in a landmark opinion in which the State of Nevada adopted Delaware’s standards for pleading demand futility.
• Represented World Oil Corp. and its affiliated companies in shareholder litigation involving derivative claims, individual claims for substantial damages, and dissolution. Prevailed on more than a dozen motions before the shareholder plaintiffs agreed to settle all claims on favorable terms, resolving all claims against the company and the individual defendants.
• Defended the former CFO of a publicly traded company in a securities fraud class action involving allegations that defendants engaged in an alleged scheme to inflate stock prices through “stock-loan” transactions. Obtained a dismissal with prejudice of all claims at the pleadings stage.
• Represented Deloitte & Touche in a securities fraud class action stemming from the New York Attorney General’s investigation into alleged “bid-rigging” and “steering” practices in the insurance industry. Obtained a dismissal with prejudice of all claims at the pleadings stage.

Media Coverage and Publications

• “Investors Reach $20M Deal With Banc Of Calif., Drop Ex-CEO,” Law 360, October 31, 2019
• “Prison Co. Urges No Class Cert. Since No Stock-Price Impact,” Law 360, July 18, 2018
• “Private Prison Co. Seeks Early Release From Investor Suit,” Law360, May 15, 2017
• “Wal-Mart, Mexican Unit Get Shareholder Bribery Suit Tossed,” Law360, February 27, 2017
• “Top Verdicts of 2015: Fundamental Partners v. Hudson Pacific Properties Inc.,” Daily Journal, February 17, 2016
• “Wal-Mart Slams Class Cert. Bid In Mexico Bribery Suit,” Law360, November 25, 2015
• “Rockin' Out,” Los Angeles Business Journal, October 12, 2015
• “One Chance to Amend Software Class Claim,” Courthouse News Service, July 28, 2015
• “Omnicare: Good News For Issuers But Questions Remain,” Law360, March 25, 2015
• “Class Action Group Of The Year: Latham & Watkins,” Law360, January 29, 2015
• “Rising Star: Latham's Brian Glennon,” Law360, March 14, 2013
• “Top 20 Under 40: Brian T. Glennon,” Daily Journal, February 27, 2013
• “Wal-Mart Moves to Dismiss Fraud Suit Brought over Mexico Bribery,” Main Justice, January 24, 2013
• “Deloitte Aims To Shift Blame In $100M Ameriquest Suit,” Law360, July 18, 2012
• “9th Circ. Scraps Suit Over Insight Accounting Errors,” Law360, March 09, 2012
• “9th Circ. Upholds Dismissal of Oracle Securities Suit,” Law360, November 16, 2010
• “Oracle Investor Suit Tossed For Meritless Claims,” Law360, June 16, 2009
• “Court Decision Helps REITs Strategize for Successful Acquisitions in the Face of Shareholder Litigation” Latham & Watkins Client Alert (April 16, 2015)
• “Omnicare: Good News For Issuers But Questions Remain,” Law360 (March 25, 2015)
• “Supreme Court Decides When A Statement Of Opinion Can Trigger Section 11 Liability,” Latham & Watkins Client Alert (March 25, 2015)
• Provisional Remedies in Business & Commercial Litigation in Federal Courts, 3rd Ed. (2013)
• “The State of Scienter: A Comparative Survey Ten Years After the Enactment of the Private Securities Litigation Reform Act,” Securities Litigation Report, Vol. 3, No. 1 (Dec.-Jan. 2006)
• “Securities Litigation and Professional Liability Practice,” Latham & Watkins Newsletter, Issue 11 (September 2005)
• “The Representative Services Doctrine: The Historical Origins and the Unanswered Questions,” Litigation Section Newsletter for the Civil Trial Lawyer (September 2003)