FacultyFaculty/Author Profile

Sidney S. Liebesman

Montgomery, McCracken, Walker & Rhoads, LLP

Wilmington, DE, USA

Sidney S. Liebesman is a partner in the Litigation Department at Montgomery McCracken. His practice focuses on complex commercial and business litigation, shareholder derivative litigation, and class action litigation involving shareholder rights and securities fraud. Mr. Liebesman has represented many U.S. and foreign institutional investors, including some of the largest institutional investors in the world. Mr. Liebesman played major roles prosecuting many high-profile securities fraud civil actions, including In re Tyco International, Ltd. Securities Litigation which settled for $3.2 billion, In re Enron Corp. Securities Litigation, In re WorldCom, Inc. Securities Litigation and In re Global Crossing Ltd. Securities Litigation which settled for nearly $450 million. In the Delaware Court of Chancery, Mr. Liebesman has handled matters involving a range of corporate law issues, including stockholder challenges to corporate mergers and acquisitions, requests for the appointment of temporary receivers, fiduciary duties, indemnification of corporate directors for litigation expenses and stockholders' demands for inspection of corporate and partnership books and records.

Mr. Liebesman has appeared before tribunals and conducted depositions in Europe, Singapore and Australia. He played a central role in the landmark Pan-European settlement of securities claims under Dutch law involving Royal Dutch Shell where he represented dozens of financial institutions located throughout Europe. The settlement was then a first of its kind in the Amsterdam Court of Appeals and has been the topic of many conferences and legal journals.

Before attending law school, Mr. Liebesman was a police officer with the New Castle County, Delaware Police Department, where he investigated criminal offenses, served on the Department's Emergency Response Team and received many commendations from the Department and civilian organizations.

Selected Representations

  •  In January 2013, Mr. Liebesman was retained by New Castle County, Delaware to take over the representation of the County in a high-profile rezoning matter involving what would have been one of the largest construction projects in County history. Following a successful result at trial in the Chancery Court of Delaware, the trial court's ruling was upheld March 25, 2014 upon appeal to the Delaware Supreme Court.
  • Mr. Liebesman successfully prosecuted a breach of fiduciary duty and statutory violation case in the Delaware Chancery Court brought by a group of founders and shareholders of a health care technology company in connection with several rounds of venture capital financings. The decision in that case, Carsanaro v. Bloodhound Technologies, Inc., C.A. No. 7301-VCL (March 15, 2013), is oft-cited in discussions about venture capital financing of Delaware corporations.
  • Mr. Liebesman successfully defended the management company and owner of a hotel in Delaware in connection with an employment claim brought by an individual who had accepted an offer of employment as an executive at the hotel. Using a discrete area of the law, a critically favorable pre-trial ruling respecting available damages was made in February 2015 - just weeks before trial was to commence in the Delaware Superior Court.
  • Mr. Liebesman successfully intervened in an action pending the U.S. District Court for the Eastern District of Pennsylvania on behalf of a client who was owed a substantial sum of money in connection with work it had performed related to the lawsuit pending in that court. After a six day evidentiary hearing, a favorable decision was rendered in early 2014 resulting in a sizeable recovery for the client.

Selected Publications

  • Quoted in "Chancery Court May Defer to Legislature on Fee-Shifting," Delaware Business Court Insider, December 10, 2014
  • Quoted in " In Potential Test Case of Fee-Shifting Bylaws, Delaware Court Trifurcates Issues, Discovery," Bloomberg's Corporate Law & Accountability Report, December 5, 2014
  • Noted in "Foxtail Fest sues city over controversial police bill," Delawareonline.com, April 4, 2014
  • Quoted in "Alleged Online Defamer Sanctioned In E-Complaint Tiff," Law360, April 4, 2014
  • Quoted in "Stoltz appeals brief claims Glasscock misread Weiner's comments," Delawareonline.com, September 25, 2013
  • Co-authored "Caught By the Net, What To Do If A Message Board Messes With Your Client" ABA Business Law Today, Vol. 10, No. 1
  • Co-authored "Internet Message Board Litigation-Time Is Of The Essence" (co-author), ABA Network, Vol. 8, Issue 1

Selected Speaking Engagements

  • Presenter before financial institutions and institutional investors worldwide on corporate governance and litigation matters, and speaks regularly at conferences for public pension fund trustees and administrators
  • Spoken before groups throughout the United States, England, Scotland, Canada and Japan
  • Spoken at the World Bank
  • Lectured to law enforcement officers and agencies regarding civil rights litigation

Community Involvement

  • Founder and former president of the Chesapeake Police and Fire Foundation, created for the benefit of survivors of police officers and firefighters killed in the line of duty

Professional Activities

  • Delaware State Bar Association

Academic Achievements

  • Mr. Liebesman graduated from Villanova University School of Law in 1995. While attending Villanova Law School, he served as an editor of the Villanova Environmental Law Journal and was a finalist in the 35th Annual Reimel Moot Court competition.

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