Michael J.McConnell (Mike)

Partner

Atlanta + 1.404.581.8526

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Mike McConnell defends officers, directors, and corporations in high-stakes securities and fiduciary duty litigation. The matters litigated include securities fraud class actions, SEC investigations and inquiries, derivative cases, proxy fraud litigation, and other matters that are often ancillary to shareholder litigation, including shareholder inspection actions, disputes under shareholder voting agreements, internal corporate investigations, and other special committee matters. Mike serves as the head of litigation for the Firm's Atlanta Office.

Mike's recent representations include defending comScore, Inc. and certain of its officers and directors in securities litigation; defending Flowers Foods and certain of its officers and directors in securities litigation; defending Rayonier Inc. in securities litigation; defending Gray Television in litigation seeking to enjoin it from operating an Augusta television station or offering it in the National Incentive Spectrum Auction; defending WL Ross & Co. and certain current and former officers and directors of International Textile Group (ITG) in class and derivative shareholder litigation arising from the merger of ITG and Safety Components International; defending Attachmate Corporation in connection with shareholder litigation filed in Delaware and Massachusetts challenging its acquisition of Novell Corporation; defending former officers and directors of various banks that failed in the wake of the credit crisis; defending The Southern Company in securities litigation arising from the spin-off of Mirant Corporation; and defending SunOpta Inc. in securities litigation.

Mike is a member of the Trial Law Institute and Diversity Law Institute, a former member of the board of directors of the March of Dimes (Georgia Chapter; chairman, 2012), the Midtown Atlanta Rotary Club (president, 2013-2014), and the Leadership Atlanta Class of 2007.

Experience

  • Former board members secure dismissal from securities class action lawsuitJones Day successfully defended two former members of the Board of Directors of a technology company, including the former Chair of the Audit Committee, in a securities class action lawsuit in the United States District Court for the Northern District of California.
  • Deezer invests to create livestreaming powerhouse as Driift acquires DreamstageJones Day is advising Deezer S.A. in its £4 million investment in the merger of Driift and Dreamstage, creating a livestreaming powerhouse.
  • Flowers Foods acquires Koffee Kup BakeryJones Day advised Flower Foods, Inc. in the acquisition of Koffee Kup Bakery, Inc.
  • Jarden defeats appraisal lawsuits filed by investment fundsJones Day successfully represented Newell Brands subsidiary, Jarden Corporation, in connection with appraisal lawsuits filed by more than 15 separate investment funds (which collectively owned more than $630 million worth of Jarden shares) seeking a judicial appraisal of their former shares in Jarden
  • Flowers Foods resolves putative securities class actionsJones Day represented Flowers Foods, Inc. in two putative securities fraud class actions filed against Flowers and certain officers and directors.
  • $700 million purchase of 49.9% interest in Big River Steel by United States Steel CorporationJones Day advised KM BRS, LLC (a subsidiary of Koch Minerals, LLC), a preferred equity holder of Big River Steel, in the $700 million purchase of a 49.9% interest in Big River Steel by United States Steel Corporation, with a call option to acquire the remaining 50.1% within the next four years.
  • The Southern Company defends putative securities class action alleging violations of Section 10(b)Jones Day is representing The Southern Company and its directors and certain of its current and former officers in connection with a putative class action alleging, among other things, violations of Section 10(b) of the Securities Exchange Act of 1934.
  • Data technology company obtains settlement with SECJones Day represented a data technology company in an SEC investigation of fraud, books and records, and internal controls.
  • U.S. chemical company obtains victory in multi-party ICDR arbitration relating to chemical manufacturing joint venture in TaiwanJones Day obtained an award in favor of a U.S. chemical company in a three-party arbitration arising from its acquisition of a substantial interest in a Taiwanese chemical manufacturing joint venture.
  • Special litigation committee of board of directors reaches resolution in insider trading investigationJones Day was retained to represent a Special Litigation Committee ("SLC") of a Board of Directors in connection with a derivative demand sent on behalf of several alleged shareholders.
  • Rayonier resolves derivative action claiming breach of fiduciary duties arising from failure to harvest sustainablyJones Day client Rayonier Inc. resolved a shareholder derivative action in which plaintiffs alleged that former officers and directors of Rayonier, a publicly-traded timber real estate investment trust, breached their fiduciary duties by overharvesting Rayonier’s Pacific Northwest timberlands, misrepresenting the sustainability of its timber harvesting practices, and overstating its merchantable timber inventory.
  • HD Supply defeats petition for leave to appeal lawsuit related to sale of its Power Solutions business unitJones Day successfully defended HD Supply Holdings, Inc. in a putative class action brought in Illinois concerning the interpretation and administration of HD Supply's Omnibus Incentive Plan following the sale of HD Supply's Power Solutions business unit.
  • Rayonier resolves lawsuit involving claimed misrepresentations regarding sustainabilityJones Day client Rayonier Inc. resolved a class action lawsuit in which plaintiffs alleged that Rayonier, a publicly-traded timber real estate investment trust, violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by misrepresenting the sustainability of its timber harvesting practices and overstating its merchantable timber inventory.
  • comScore achieves successful settlement agreement with Starboard Value LPJones Day advised comScore, Inc. in its successful settlement agreement with activist shareholder Starboard Value LP.
  • Special Litigation Committee of the Board of Directors of CoreCivic defends series of shareholder derivative actionsJones Day is representing the Special Litigation Committee of the Board of Directors of CoreCivic, a private prison operator, in a series of shareholder derivative actions that have been filed in state and federal court in Tennessee.
  • Global retailer conducts internal investigation of alleged employee kickback scheme in its Asia operationsOn behalf of a global, publicly-traded retailer, Jones Day conducted an internal investigation of an alleged employee kickback scheme in the company’s Asia operations.
  • Rayonier completes $160 million public offering of Common SharesJones Day represented Rayonier Inc., a leading timberland real estate investment trust, in connection with its $160 million underwritten public offering of Common Shares.
  • Monster prevails on issue of first impression in Delaware Chancery CourtJones Day successfully represented Monster Worldwide, Inc. in litigation arising from a shareholder demand seeking to inspect Monster's books and records relating to Randstad Holdings, Inc.'s acquisition of the company in November 2016.
  • Randstad acquires Monster for $429 millionJones Day advised Randstad Holding nv (AMS: RAND), a leading human resources services provider, in the acquisition of Monster Worldwide, Inc. (NYSE: MWW).
  • Gray Television wins emergency motion allowing company to participate in National Incentive Spectrum AuctionIn a case with important ramifications for the historic National Incentive Spectrum Auction being held by the Federal Communications Commission, Jones Day client Gray Television Group, Inc. obtained a critical emergency order from the Georgia Supreme Court allowing Gray to participate in the Auction.
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    February 2024 White Paper

    2023 Securities Litigation Year in Review

    January 2024 White Paper

    SEC Enforcement in Financial Reporting and Disclosure: 2023 Year-End Update

    AUGUST 2023 Commentary

    Second Circuit Provides Valuable Guidance on Application of the Supreme Court's Price-Impact "Mismatch" Framework

    August 2023 White Paper

    SEC Enforcement in Financial Reporting and Disclosure: Summer 2023 Update

    June 2023 Alert

    Supreme Court: Even in a Direct Listing, Section 11 Requires Plaintiffs to Trace Shares to Registration Statement

    March 2023 White Paper

    Your Company Has Been Sued for Securities Fraud—Now What?

    February 2023 White Paper

    2022 Securities Litigation Year in Review

    January 2023 White Paper

    SEC Enforcement in Financial Reporting and Disclosure: 2022 Year-End Update

    August 2022 White Paper

    SEC Enforcement in Financial Reporting and Disclosure: Summer 2022 Update

    March 2022 Newsletters

    Vital Signs: Digital Health Law Update | Winter 2022
    View All

    Additional Publications

    • January 2008
      Six Months Later: Is Tellabs Making a Difference?, The Business Suit, DRI
    • January 2007
      Second Circuit Rejects "Some Showing" Proof Standard for Class Certification in Securities Fraud Case, The Business Suit, DRI
    • February 2006
      Market Efficiency and the Fraud-on-the-Market Theory, The Business Suit, DRI

    Additional Speaking Engagements

    • April 15, 2021
      COVID-19 Implications to Securities Litigation and Regulation: What You Must Know and Do, presented by The Knowledge Group
    • June 17, 2020
      Emerging Trends in Corporate Books and Records Litigation, presented by The Knowledge Group
    • December 6, 2019
      Direct Examination of Financial Experts: Making the Complex Simple, presented by LCA Renaissance Symposium XV, Litigation Counsel of America
    • May 10, 2019
      Securities and Derivative Litigation Panel, presented by the Atlanta Bar Association, Litigation Subcommittee
    • April 30, 2019
      Halliburton II, Materiality, and Price Impact Rule in Securities Class Actions: 2019 Perspective, presented by The Knowledge Group
    • December 12, 2018
      Halliburton II and the Price Impact Rule: Changing the Tides of Securities Litigation, presented by The Knowledge Group
    • January 22, 2018
      How to Not End Up in the Headlines: An Overview of Insider Trading & Recent Developments, Jones Day CLE Academy
    • December 1, 2016
      Accounting and Enforcement Innovation Summit, presented by EY and Jones Day
    • September 6, 2016
      Halliburton II and the Price Impact Rule: Impact on Securities Class Actions Explored, presented by The Knowledge Group
    • June 9, 2015
      Partnership and Shareholder Disputes from Start to Finish, presented by NBI
    • April 27, 2015
      Consequences of Halliburton II and the Price-Impact Rules of 2015, presented by The Knowledge Group
    • August 7, 2014
      Fraud-on-the-Market Theory: Significant Issues and Updates for 2014 and Beyond
    • September 20, 2012
      Special Litigation Committees, presented to the Securities and Corporate Litigation Sub-Section, Atlanta Bar Association
    • November 14, 2008
      The Subprime Collapse and the Credit Market Crash – Litigation Trends and Overview, presented to the Litigation Section of the Atlanta Bar Association
    • January 24, 2008
      Securities Litigation After the Subprime Mortgage Collapse, presented to Securities and Corporate Litigation Sub-Section, Atlanta Bar Association
    • February 20, 2007
      Options Backdating - Defense Strategies, Investigations and Professional liability Coverage, DRI Teleconference, presented by DRI's Commercial Litigation Committee
    • 2004
      The Tools at Hand: Inspection of Corporate Records, 8th Annual Corporate Litigation Seminar, Institute of Continuing Legal Education in Georgia
    • 2002
      Shifting Duties and Vanishing Protection: Issues Facing Officers and Directors of Financially Distressed Companies, 6th Annual Corporate Litigation Seminar, Institute of Continuing Legal Education in Georgia
    • 2000
      New Selective Disclosure and Insider Trading Regulations: How to Implement Regulation FD, Rule 10b5-1, and Rule 10b5-2, PricewaterhouseCoopers Seminar
    • 1998
      Inspection of Corporate Records, 2nd Annual Corporate Litigation Seminar, Institute of Continuing Legal Education in Georgia
    • 1997, 1998
      Conducting Discovery in RICO Cases, RICO Seminar, Institute of Continuing Legal Education in Georgia
    • 1997
      Corporate Privileges, Evidentiary Problems, and Discovery in Corporate Litigation, Corporate Litigation Seminar, Institute of Continuing Legal Education in Georgia

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