Karen Pieslak Pohlmann has more than 25 years of experience defending class actions asserting violations of the federal securities law, derivative suits, claims arising from mergers and acquisitions, and appraisal actions. Karen has worked on numerous successful motions to dismiss with more than 25 granted since 2009, including appellate victories in the Third, Sixth, Seventh, and Ninth Circuits. She has also tried several cases in federal and state courts, including a highly-publicized case ultimately decided by the Delaware Supreme Court.
Karen represents issuers, their directors and officers, and underwriters in suits asserting claims under the federal securities laws, derivative suits and challenges to mergers and acquisitions. She has a strong track record of obtaining victories on motions to dismiss as well as favorable results at mediations. In addition, Karen has worked on briefs that successfully defeated plaintiffs’ motion for class certification in a securities fraud suit. Her cases have involved issues ranging from restatements, lowered guidance, adverse decisions by the FDA, changes in business strategy, executive compensation, alleged violations of FCA/FCPA, and challenges to the price and process in a merger or acquisition. She has also worked extensively with experts on damages and causation issues.
Her trial experience includes a nonjury appraisal trial in Delaware Chancery Court (covered in a Law360 article linked below), a Pennsylvania state court appraisal action, a federal nonjury trial involving the interpretation of a contract between a sales representative and a manufacturer, a nonjury trial in the Delaware Court of Chancery concerning the sale of a $39 million telecommunications business, and a five-week federal jury trial on lender liability claims, as well as the trial of a contested termination of parental rights motion. She has conducted direct and cross examinations of fact and expert witnesses.
Karen has been recognized for her pro bono work. Since the early 1990s, she has represented abused and neglected children in the Philadelphia Family Court and in criminal cases as a child advocate and regularly appears in Family Court.
After graduation from law school, Karen served as a law clerk for Judge Donald Van Artsdalen of the US District Court for the Eastern District of Pennsylvania.
Appellate Victories
Delaware Trial and Appeal
Motions To Dismiss Granted By Trial Courts
In Kanter v. Reed (Cal. Super. Ct. 2020), the California Superior Court, Los Angeles County sustained a demurrer we filed on behalf of Sempra Energy arguing that a derivative lawsuit arising from the Aliso Canyon gas leak lacked merit because plaintiffs failed to adequately plead demand futility. The court held that plaintiffs did not allege the extreme facts needed to plead demand futility since the Board had established a system to monitor safety, even if the system had not prevented the leak.
Denial of Injunction
Other Case-Dispositive Motions Granted by Trial Courts
Member, Law Firm of the Year, Securities Regulation, US News/Best Lawyers – Best Law Firms (2019)
Recognized, Securities Litigation, Pennsylvania Super Lawyers (2008–2012)
Distinguished Advocate, Support Center for Child Advocates (2006)
Pro Bono Award, Pennsylvania Bar Association (2006)
Member, American Bar Association
Member, Philadelphia Bar Association
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