Pamela S. Tikellis was a founding partner of the Firm in 1994, and effective July 1, 2017, became Of Counsel to the Firm. Ms. Tikellis is recognized for her extensive knowledge in areas of Delaware corporate law, fiduciary responsibility, securities and investments and matters related to protecting and promoting the rights of institutional investors. Ms. Tikellis, for more than thirty years, has litigated some of the landmark cases regarding corporate governance issues, mergers and acquisitions, stockholders’ rights and other matters regarding corporate and securities litigation.
For example, 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 one of the largest common funds in a merger and acquisition settlement.
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. (Ellison’s private company) and alleged that the acquisition of Pillar was unfair to Oracle to Ellison’s benefit. The Court approved a settlement resulting in Mr. Ellison’s agreeing to return 95% of the amount Oracle pays for Pillar back to Oracle creating a benefit for Oracle and its shareholders valued at $440 million-one of the largest 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 believed to be the first to ensure the benefits of such a settlement flow to stockholders in the form of a cash dividend.
Currently, 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. The action settled for over $30 million with the settlement receiving court approval on November 6, 2017.
Ms. Tikellis also 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.
Ms. Tikellis has written extensively on topics ranging from corporate governance, mergers and acquisitions, stockholder derivative suits and ethics, and is a frequent speaker at industry events and continuing legal education programs including the National Conference on Public Employee Retirement Systems, the Practicing Law Institute, the American Association of Justice, the American Bar Association and the Delaware Bar Association.
Named repeatedly in Chambers and Partners as a Leading Individual, Ms. Tikellis is “very experienced, dogged and knowledgeable in Delaware corporate law.” “She has significant expertise in securities fraud, antitrust and other complex litigation.”