Abhinaya Swaminathan
About
Abhinaya is a special counsel in Freshfields' dispute resolution team based in New York. She focuses on representing corporate clients, including publicly traded corporations, their directors and officers, and underwriters, in high-stakes securities and shareholder disputes, including securities fraud class actions, breach of fiduciary duty claims, M&A disputes, and shareholder demands. She has played a leading role in briefing numerous motions for dismissal, stay, or other relief, often developing complex and novel arguments; advising companies and boards on avoiding litigation risk in connection with pending transactions; litigating deal challenges and merger strike suits; responding to shareholder books and records demands; and running complex class action discovery. Prior to joining Freshfields, Abhinaya was an associate in the New York office of another international law firm and after receiving her Juris Doctor from Harvard Law School.
Abhinaya also maintains an active pro bono practice, including recently securing dismissal of a complaint challenging the Legal Aid Society’s collective bargaining agreement for its staff attorneys, and representing Legal Aid in the pending appeal of that dismissal before the Second Circuit and representing a composer and a charitable organization in connection with copyright and royalty disputes.
Abhinaya’s recent experience includes advising:
- Rent the Runway and its officers and directors in securities class action alleging that Rent the Runway failed to disclose material facts in their IPO; motion to dismiss granted in part;
- AstraZeneca and several of its officers as alleged controlling stockholder of Viela Bio in Delaware Chancery Court challenge to Viela’s $3 billion sale to Horizon Therapeutics; motion to dismiss granted; dismissal affirmed by Delaware Supreme Court;
- J.P. Morgan, Barclays, Goldman Sachs, and Citigroup and seven other banks in securities class action challenging underwriting of healthcare delivery platform InnovAge’s Initial Public Offering;
- ASML and its officers and directors in securities class action alleging false or misleading statements regarding ASML’s forecasting;
- Zuora in successfully opposing a stockholder’s suit seeking to enjoin a $1.7 billion take-private acquisition of the company;
- Acelyrin in securities class action challenging statements made in connection with its IPO concerning potential of its lead drug candidate, Izokibep;
- Bakkt and its officers and directors in securities class action alleging false or misleading statements regarding Bakkt’s revenue concentration and ability to retain clients and related stockholder demands;
- A Special Committee of the Board of an asset management firm defending against breach of fiduciary duty and Section 14(a) claims, resulting in a favorable resolution to the litigation and successful acquisition of the firm;*
- A large pharmaceutical company and its directors and officers in two securities fraud class actions, one resulting in favorable settlement and one resulting in complete dismissal against all defendants with prejudice;*
- A used car retailer and e-commerce company and its directors and officers in a class action defending against claims under both the Securities and Exchange Act and the Securities Act;*
- A pop culture collectibles manufacturer and its directors and officers in securities class actions and derivative cases resulting in favorable settlements or dispositions in multiple cases;*
- A leading financial institution in connection with its role as an underwriter in a secondary public offering defending against claims under the Securities Act; and*
- An accounting firm in two federal class actions bringing fraud and aiding and abetting fraud claims in connection with alleged Ponzi scheme perpetrated by accounting firm’s former client.*
*Representation by Freshfields litigator at prior firm
Abhinaya Swaminathan
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