Pamela S. Tikellis is a name partner and member of the Firm’s Executive Committee. Upon graduating from law school, Ms. Tikellis served as a law clerk in the nationally recognized Court of Chancery in Wilmington, Delaware. Before joining the Firm, Ms. Tikellis engaged in significant shareholder litigation practice. In 1987, she opened the Delaware office of the Firm, where she is a resident.
Ms. Tikellis served as Co-Lead Counsel in the class action challenging the $21 billion management-led buyout of Kinder Morgan, Inc., In re Kinder Morgan, Inc. Shareholders Litigation, Consol. C.A. No. 06-C-801 (Kan.). That action resulted in the creation of a $200 million settlement fund the largest common fund in a merger and acquisition settlement. She served as Lead Counsel in the class action challenging Roche Holding’s buyout of Genentech, Inc., In re Genentech, Inc. Shareholders Litigation, Civil Action No. 3911-VCS. The litigation was settled shortly after the Court of Chancery held a hearing on Plaintiffs’ motion for a preliminary injunction and prior to the closing of a transaction. The settlement provided for, among other things, the additional $4 billion in consideration paid to the minority shareholders in the transaction.
From 2011-2014, Ms. Tikellis served as Co-Lead Counsel in the Court of Chancery derivative litigation City of Roseville Employees Retirement System, et. al. v Lawrence J. Ellison, et. al., C.A. No. 6900-CS. This action arose out of Oracle Corporations acquisition of Pillar Data Systems, Inc. and alleged that the acquisition of Pillar was unfair to Oracle to Ellison’s benefit. The Court approved the settlement of this case in August, 2014, resulting in Mr. Ellison’s agreeing to return 95% of the amount Oracle pays for Pillar back to Oracle. The settlement created a benefit for Oracle and its shareholders valued at $440 million and is one of the larger derivative settlements in the history of the Court of Chancery.
From 2012-2015, Ms. Tikellis served as Co-Lead Counsel in In re Freeport-McMoran Copper & Gold Inc, C.A. No. 8145-VN, a derivative action arising out of Freeport-McMoran Copper & Gold Inc.’s agreement to acquire Plains Exploration Production Co. and McMoran Exploration Production Co. The Court approved the settlement of this case in April, 2015, resulting in a dividend to be paid to Freeport stockholders, a credit redeemable by Freeport for financial advisory assignments, and other corporate governance enhancements. The settlement created a benefit for Freeport and its shareholders valued at nearly $154 million and is one of the largest stockholder derivative settlements and also believed to be the first to ensure the benefits of such a settlement flow to stockholders in the form of a cash dividend.
Additionally, Ms. Tikellis is co-lead counsel in a derivative action captioned In re Sanchez Energy Derivative Litigation, C.A. No. 9132-VCG (Del. Ch.) pending in the court of Chancery of the State of Delaware. The action alleges wrongdoing by the directors Sanchez Energy Corporation for causing the Company to acquire assets in the Tuscaloosa Marine Shale from Sanchez Resources LLC, an entity affiliated with Sanchez Energy’s CEO, Tony Sanchez, III, and Executive Chairman Tony Sanchez, JR. at a grossly excessive price and at the expense of Sanchez Energy.
Ms. Tikellis currently represents Norfolk County Retirement System in an action challenging the acquisition of Starz (“Starz”) by Lions Gate Entertainment Corp. (“Lions Gate”) (the “Merger”), In re: Starz Stockholder Litigation, Cons. C.A. No. 12584-VCG (Del. Ch.). Pursuant to the Merger, John C. Malone (“Malone”), Starz’s controlling stockholder and a director of Lions Gate, will receive superior consideration, including voting rights in Lions Gate, while the remaining Starz stockholders will receive less valuable consideration and lose their voting rights. The Action alleges that the process undertaken by the Starz board of directors in connection with the Merger was orchestrated by Malone and tainted by multiple conflicts. The Complaint also alleges that the consideration proposed is unfair and represents an effort by Malone to enlarge his already-massive media empire and to ensure his control position, to the detriment of Starz’s minority stockholders.
Ms. Tikellis currently represents Chester County Retirement Fund in an action challenging a private equity leveraged buyout of Blount International, Inc. (“Blount” or the “Company”) for $10 per share (the “Buyout”), Chester County Retirement System v. Joshua L. Collins et al., C.A. No. 12072-VCL (Del. Ch.). The Buyout is led by the Company’s two most senior executives, Joshua Collins and David Willmott, each of whom also sit on the Board, and two private equity firms, including the Company’s second largest stockholder. The Action alleges the process undertaken by the Blount board of directors in connection with the Buyout was tainted by several conflicts. The Action also alleges that the consideration proposed is inadequate and represents an effort by the buyout group to force out public stockholders and reap the benefits of Blount’s future growth and profits for themselves and their chosen partners.
Ms. Tikellis represents Park Employees’ and Retirement Board Employees’ Annuity and Benefit Fund of Chicago (the “Fund” or “Plaintiff”) in a derivative action on behalf of BioScrip, Inc. (“BioScrip” or the “Company”), Park Employees’ and Retirement Board Employees’ and Benefit Fund of Chicago v. Richard M. Smith et al., C.A. No. 11000-VCG (Del. Ch.). The Plaintiff alleges wrongdoing by the BioScrip directors and officers for repeatedly and intentionally disregarding regulatory and compliance requirements. Specifically, BioScrip’s management caused the Company to accept illegal kickbacks from Novartis Pharmaceuticals Corporation (“Novartis”) on the sale of a dangerous Novartis drug called Exjade in violation of various federal and state laws and regulations, resulting in false claims and payments to the Company by Medicare and Medicaid that should not have occurred. By the end of 2012, the Company also began experiencing significant declines in its pharmacy benefits management (“PBM”) services segment which the Individual Defendants concealed from investors in violation of federal securities laws. Plaintiff also alleges Defendants with material assistance from Jefferies LLC (“Jefferies”) and Kohlberg & Co., L.L.C. (“Kohlberg”), caused the Company to issue two major stock offerings in 2013, raising hundreds of millions of dollars in proceeds for the Company and Kohlberg while simultaneously concealing the Exjade Kickback Scheme, the related Government investigation and the known declines in the PBM services segment.
Named repeatedly in Chambers and Partners as a Leading Individual, Ms. Tikellis is “very experienced and very hard-working” and a “very effective litigator.” “She has significant expertise in securities fraud, antitrust and other complex litigation.”