Stephen D.Hibbard (Steve)

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San Francisco + 1.415.875.5809

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Steve Hibbard represents U.S. and foreign financial institutions, companies, and individuals in financial litigation in courts across the nation involving securities class actions, merger litigation, derivative actions, and corporate governance disputes. He also represents boards of directors in internal investigations and regularly advises public companies on fiduciary duty and disclosure issues. Steve has handled dozens of SEC, FINRA, DOJ, FTC, or bank regulatory actions. His 30 years experience with complex litigation also includes corporate finance, accounting, antitrust, defamation, copyright, tax, employment, RICO, and unfair business practices claims — in industries ranging from investment banking to venture capital, biotech to pharmaceuticals, and semiconductors to software.

Described by The Legal 500 as a "hardworking and extremely smart" securities litigator, Steve has led the defense of securities class actions involving the collapse of Enron, the dot.com bust, and the mortgage crisis. He served as lead trial counsel for Countrywide Financial Corporation in defending RMBS claims totaling nearly $10 billion. He also has represented a global private equity fund and a dozen U.S.-listed Chinese companies. Buyers, sellers, and financial advisors rely on him for merger litigation, including Qatalyst Partners LP in several dozen technology company mergers.

A past president of the Association of Business Trial Lawyers of Northern California, Steve is chairman of the Carnegie Council for Ethics in International Relations, a director of Lawyers Without Borders, and a South Carolina Honors College Partnership Board member. He has spoken and written on securities and merger litigation, corporate governance, and ethics.

Experience

  • Silicon Valley information technology company investigates its international supply chain and network securityJones Day is leading an internal investigation into a multinational information technology company's supply chain and computer network security, and is representing the company in a related SEC investigation.
  • Computer hardware company responds to alleged supply network security attackJones Day is representing a computer hardware company in response to an alleged supply network cybersecurity attack.
  • Qatalyst Partners acts as financial advisor in attempted $47 billion sale of NXP to QualcommJones Day advised Qatalyst Partners, the financial advisor to NXP Semiconductors N.V., in the attempted $47 billion sale of NXP to Qualcomm.
  • Itron acquires Silver Spring Networks for $830 million, net of $118 million of Silver Spring's cashJones Day advised Itron, Inc. (NASDAQ: ITRI) in its acquisition of Silver Spring Networks, Inc. (NYSE: SSNI) by acquiring all outstanding shares of Silver Spring Networks, Inc. (NYSE: SSNI) for $16.25 per share in cash.
  • Itron acquires Comverge for approximately $100 millionJones Day advised Itron, Inc. (NASDAQ: ITRI) in its approximately $100 million cash acquisition of Comverge, Inc. by way of the purchase of its parent company, Peak Holding Corp.
  • TDK acquires InvenSense for $1.3 billionJones Day advised TDK Corporation in its $1.3 billion acquisition of InvenSense, Inc.
  • Linear Technology acquired by Analog Devices for $14.8 billionJones Day advised Linear Technology Corporation on its sale to Analog Devices, Inc.
  • ETS acquires Questar Assessment Inc. for $127.5 millionJones Day advised Educational Testing Service in its $127.5 million cash acquisition of Questar Assessment Inc., a leading K–12 assessment solutions provider focused on building a bridge between learning and accountability.
  • Intersil acquired by Renesas Electronics for $3.2 billionJones Day advised Intersil Corporation, a provider of power management and precision analog solutions, in its $3.2 billion acquisition by Renesas Electronics Corporation, a supplier of advanced semiconductor solutions.
  • SAP acquires HipmunkJones Day advised SAP SE in its acquisition of Hipmunk, a leader in travel search innovation.

    • The following represents experience acquired prior to joining Jones Day.

    Represented Countrywide Financial Corporation in various securities lawsuits relating to the sale of residential mortgage-backed securities.

    Represented Elan plc in securities and derivative litigation arising from Elan's development of new drugs.

    Represented Qatalyst Partners, as a financial advisor to the seller in connection with various matters relating to the sale of technology companies, including Acme Packet, Ancestry.com, Aruba Networks, Atmel, Atheros, Autonomy plc, Conexant, Concur Technologies, Data Domain, GSI, HomeAway, Informatica, Isilon Systems, JDA Software, LSI, Magma Design, MediaMind Technology, Motorola Mobility, National Semiconductor, NetLogic, OpenTable, Orbitz, PMC-Sierra, Riverbed Technologies, Standard MicroSystems, Taleo, Xoom, and 3PAR.

    Represented more than a dozen U.S.-listed Chinese corporations, officers and directors, or special committees in matters such as securities class actions, SEC or exchange investigations, internal investigations, or in shareholder litigation to challenge mergers or going private transactions, including situations involving Ambow Education, China Agritech, China Education Alliance, China Electric Motor, China Fire & Security, China MediaExpress, China Medical Technology, China TransInfo Technology, Gulf Resources, Longtop Financial Corporation, Leyard Optoelectronic, Lentuo Holdings, Puda Coal, SinoTech Energy Corporation, Trunkbow Holdings, and ZST Digital Networks.

    Represented Sybase in merger litigation in Delaware and California relating to its sale to SAP.

    Represented Health Grades in merger litigation in Delaware and Colorado relating to its sale to Vestar Partners.

    Represented Shiseido in merger litigation relating to its acquisition of Bare Escentuals.

    Represented Countrywide Bank's former chief investment officer and chief risk officer in various mortgage industry-related matters.

    Represented more than a dozen individual directors or officers in options backdating matters, including certain directors of Brocade.

    Represented Viacom International in various matters, including the Google/YouTube copyright litigation.

    Represented Olympia Capital Associates in a securities action arising from a hedge fund collapse.

    Represented H&R Block Financial Advisors in a securities class action relating to the sale of Enron bonds.

    Represented Merrill Lynch in securities litigation relating to the failure of United Commercial Bank and in various M&A matters relating to its role as a financial advisor.

    Represented Credit Suisse in numerous securities class actions and merger litigation, including multiple securities and derivative lawsuits relating to IPO allocation issues.

    Represented Morgan Stanley in various securities class actions.

    Represented Deloitte in a securities class action relating to a bank's financial restatement.

    Represented Francisco Partners in connection with merger litigation arising from its acquisitions of EF Johnson, QuadraMed, and Procera.

    Represented Technology Crossover Ventures in various litigation and regulatory matters.

    Represented the former CFO of SinoTech Energy in securities fraud action filed by the SEC.

    Represented Watson Pharmaceuticals in a California antitrust and unfair competition case relating to the sale of authorized generics.

    Represented Oracle Corporation in its acquisition of PeopleSoft, Inc.

    Represented Huawei Technologies in connection with the proposed LBO of 3Com Corporation.

    Represented S.G. Cowen with claims arising from its role as financial advisor for a merger.

    Represented Indivos Corporation in merger litigation.

    Represented J.P. Morgan Securities in litigation arising from its alleged role in organizing a Korean joint venture.

    Represented SEZ AG in trade secret and breach of contract litigation.

    Represented Western Digital in merger litigation relating to its acquisition of STEC.

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    October 2020 Commentaries

    California Mandates Representation of Underrepresented Communities on Boards of Public Corporations

    July 2019 Commentaries

    FINRA Clarifies When Credit for Extraordinary Cooperation Will Be Awarded in Investigations

    July 2016 Jones Day Publications

    Financial Services: The Challenge of Data Flows

    March 2016 Commentaries

    Individuals in the Cross Hairs? What This Means for Directors

    February 2016 Commentaries

    SEC Enforcement in Financial Reporting and Disclosures—2015 Update
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