Michael L. Kichline

Mike is widely recognized as a leading securities and corporate litigator in The Best Lawyers in America, The Legal 500 US, and Chambers USA, for his “intellectual prowess” and “great judgment” as a “top flight litigator” who is “very well connected” and “understands the pragmatics of big class action securities litigation.”  He is regarded as “smart, thoughtful, and good in the courtroom” and “is terrific on cross-examination.” 

In addition to his Band 1 ranking in Chambers USA (2022), the Best Lawyers in America recognized Mike as 2022 Lawyer of the Year for Securities Litigation in Pennsylvania. Mike appears in federal and state courts throughout the United States, and handles matters in the Delaware Chancery Court. Mike has been approved by all major D&O carriers and is on the AIG Panel Counsel List.

Securities Class Action Defense

• Defense of the former CFO of Nissan in securities litigation arising out of the alleged scheme by former CEO Carlos Ghosn to hide $140 million in compensation. (M.D. Tenn.)
• Defense of a former officer of FirstEnergy Corp. in securities litigation arising out of an investigation into alleged bribery and corruption of the Speaker of the Ohio House of Representatives. (S.D. Ohio)
• Defense of the former CEO of Symantec (now NortonLifeLock) in securities litigation alleging accounting fraud. (N.D. Cal.)
• Defense of global coatings manufacturer in securities litigation arising out of financial restatement and SEC accounting probe. (C.D. Cal.)
• Defense of leading financial services company in securities litigation arising out of alleged misstatements concerning the company’s commercial loan portfolio and its pre-paid card division. (D Del.)
• Defense of one of the nation’s largest credit card companies in securities litigation alleging misstatements concerning customer defaults and delinquencies. (E.D. Pa.)
• Defense of global pharmaceutical company in securities litigation alleging false statements concerning the safety and efficacy of multi-billion-dollar drug product. (S.D. N.Y.)
• Defense of national hospital and rehabilitation chain in securities litigation alleging failure to disclose impending regulatory changes. (M.D. Pa.)
• Defense of pharmaceutical company in securities litigation alleging false statements concerning FDA approval of product label. (E.D. NY)
• Defense of insurance company in securities litigation alleging misstatement concerning loss reserves. (E.D. Pa.)

Derivative Litigation

• Defense of the board of directors of for-profit education company in derivative litigation alleging Caremark violations in connection with alleged violations of federal law. (Allegheny County Court of Common Pleas, PA)
• Defense of Chairman of the Board and venture capital fund in action challenging the board’s decision to sell its domestic assets to Walmart. (Superior Court of Alameda County, CA)
• Defense of directors and officers of pharmaceutical company in derivative litigation alleging Caremark violations in connection with the sale and marketing of painkillers. (D. Del.)
• Defense of Fortune 500 insurance company in novel derivative litigation brought by policyholders alleging mismanagement of reciprocal insurance exchange. (Fayette County Court of Common Pleas, PA; W.D. Pa.; Third Circuit)

SEC Investigations and Enforcement

• Defense of former Chief Accounting Officer of technology company in SEC investigation of revenue recognition practices.
• Defense of Fortune 500 insurance company in SEC investigation of company’s accounting practices.
• Defense of former CEO of financial services company in SEC investigation of company’s accounting for loan losses.

M&A Litigation

• Defense of directors and officers of global chemical company in class action alleging breaches of fiduciary duty in connection with the $1.6 billion sale of the company. (Del. Chancery)
• Defense of financial advisor in class action alleging that the advisor aided and abetted the alleged breaches of fiduciary duty by the board of directors of the target company. (Del. Chancery)
• Defense of technology company in action by preferred stockholder alleging breaches of fiduciary and contractual duties in connection with the sale of the company. (Del. Chancery)
• Defense of directors and officers of national veterinary medicine company in action seeking to enjoin the sale of the company. (Del. Chancery)
• Defense of Fortune 100 insurance company in action seeking to enjoin the company’s purchase of another major insurance company. (Philadelphia Court of Common Pleas, PA)

Commercial Litigation

• Defense of former CEO and board members in action by Chapter 7 Trustee of a for-profit education company in Caremark action alleging breaches of fiduciary duty in connection with alleged violations of federal law. (Del. Bankr.)
• Defense of major financial advisory firm against claims for misrepresentation and breach of fiduciary duty by the Coordinator of the City of Harrisburg arising of out the failure of a multihundred- million-dollar incinerator project. (Commonwealth Court of PA)
• Defense of private equity firm and executives in action by Chapter 7 Trustee of technology company in an action alleging breaches of fiduciary duty for failure to preserve going concern value. (Del. Bankr.)
• Defense of two major Wall Street investment banks in action by Chapter 7 Trustee of subprime mortgage lender in action alleging aiding and abetting fraud and breach of fiduciary duty in connection with the banks’ securitization of loans. (Phila. Court of Common Pleas, PA)
• Representation of co-owner of Philadelphia Inquirer in litigation with other owners over the control, operation and value of the newspaper business. (Phila. Court of Common Pleas, Commerce Program and Delaware Chancery)
• Defense of Fortune 500 bank in lender liability action by real estate developer alleging hundreds of millions of dollars in losses caused by declaration of default and confession of judgment. (Phila. Court of Common Pleas, Commerce Program)

Law Firm Defense

• Defense of top-ten global law firm in action alleging breach of fiduciary duty and conflicts of interest. (Phila. Court of Common Pleas, PA)
• Defense of AmLaw 100 law firm in action alleging malpractice in connection with alleged failure to properly document a multi-hundred-million-dollar loan. (Phila. Court of Common Pleas, Commerce Program)
• Defense of AmLaw 100 law firm in action alleging breach of fiduciary duty and conflicts of interest. (Phila. Court of Common Pleas)
• Defense of prominent boutique law firm in action alleging malicious prosecution. (Phila. Court of Common Pleas)