Felipe J. Arroyo

Practice Areas

  • Shareholder Rights & Fiduciary Duty Litigation
    • Shareholder Derivative Actions
    • Corporate Mergers & Acquisitions
  • Securities Fraud Class Actions
  • Antitrust Class Actions
  • ERISA Litigation


  • Yale Law School (J.D. 1992)
  • University of California, Los Angeles (B.A. 1989)

Bar Admissions

  • California
  • District of Columbia

Court Admissions

  • U.S. District Courts for the Northern and Central Districts of California
  • U.S. District Court for the District of Colorado
  • U.S. District Courts of Appeals for the Second and Ninth Circuits


  • Co-Chair of Class Actions & Derivative Suits Subcommittee, American Bar Association Section of Litigation, Securities Litigation Committee
  • Association of Business Trial Lawyers
  • Former Member Association of Business Trial Lawyers, Board of Governors (2012-2014)


  • Top 50 San Diego Super Lawyers (2019)
  • Super Lawyer (2015 - 2019)
  • Legal 500 Recommended Attorney, Dispute Resolution/M&A Litigation (2018)
  • Legal 500 Recommended Attorney, M&A Litigation (2016)

Speaking Engagements

  • "Handling a Securities Case: From Investigation to Trial and Everything in Between," presented by the Practising Law Institute (New York Center) (2012-2018)
  • "Board Governance & Fiduciary Responsibilities" at LOFT Investors Forum (2015)
  • "Derivative Litigation and the Target Case" at HarrisMartin's MDL Conference: Target Data Security Breach Litigation (2014)
  • "Survey of Corporate Misconduct & It's Impact on Investors & Capital Markets" at Investment Trends Summit (2012)


With over twenty years of experience, Felipe J. Arroyo has successfully litigated high-profile shareholder derivative cases and securities fraud class actions against top executives of publicly-traded companies who participated in misconduct that includes stock option backdating, the global subprime meltdown, insider trading, misappropriation, and making materially false or misleading statements. The litigation teams led by Mr. Arroyo have recovered hundreds of millions of dollars for companies and shareholders—including some of the largest monetary recoveries in the history of shareholder litigation.

Prior to joining Robbins Arroyo LLP in 2006, Mr. Arroyo practiced complex commercial litigation for over a decade with a top tier international law firm headquartered in Los Angeles, where he represented a diverse client base of Fortune 500 companies in varied industries. He also served as general counsel to a fitness company where he prosecuted a global patent infringement litigation campaign, and practiced complex commercial litigation and securities fraud at the Washington DC offices of a global New York-based firm.

Mr. Arroyo frequently speaks on shareholder litigation and corporate governance topics to investor and legal communities. He is the Co-Chair of the Class Actions & Derivative Suits Subcommittee of the American Bar Association Section of Litigation, Securities Litigation Committee, and a former member of the Board of Governors of the Business Trial Lawyers of San Diego. While in Los Angeles, he directed a Trial Advocacy Prosecution Program, supervising, training, and advising attorneys on trial strategy and practice while they litigated misdemeanor jury trials pro bono for a municipal client. Mr. Arroyo earned his Juris Doctor from Yale Law School in 1992, where he served as a senior editor of Yale Law Journal and a director of Yale Moot Court of Appeals. He earned his Bachelor’s in Economics from the University of California, Los Angeles, where he was a member of the A.S.U.C.L.A Finance Committee.

Selected Noteworthy Cases

Toll Brothers Inc.
Mr. Arroyo led his litigation team in a shareholder derivative action against the directors of luxury home builder Toll Brothers, Inc. The complaint alleged that certain Toll Brothers officers and directors, including the co-founders, grossly misled investors about company earnings projections during a housing market downturn and traded on inside information by selling over $730 million of their stock. During four years of contentious litigation, Mr. Arroyo engaged with defendants in myriad discovery, including deposing Robert and Bruce Toll, document production, multiple mediations, and extensive settlement negotiations. Mr. Arroyo was instrumental in securing one of the largest Brophy (Brophy v. Cities Serv. Co., 70 A.2d 5 (Del. Ch. 1949)) settlements ever, a $16.25 million cash payment for the company, including a $6.45 million payment from the executive directors. Martinez v. Toll, No. 2:09-cv-00937-CDJ (E.D. Pa. Mar. 27, 2013).

KB Home
Mr. Arroyo supported a team that obtained $30 million in cash benefits for KB Home shareholders and prompted this prominent builder of single-family homes to implement preventative good governance measures. In re KB Home Shareholder Derivative Litigation, 06-cv-05148-FMC-CTx (C.D. Cal. Feb. 9, 2009).

HCA, Inc.
Mr. Arroyo led his team in challenging a $33.5 billion leveraged buyout of HCA, Inc. by a founding member and financial sponsors, including Bain Capital and Kohlberg Kravis & Roberts. His litigation efforts helped achieve for shareholders forced disclosure of material information before they voted on the proposed buyout. The settlement also secured deal term modifications designed to open the door to alternative bidders. In re HCA, Inc. Derivative Litigation, No. 3:05-cv-0968 (M.D. Tenn. Dec. 20, 2007).

Cardinal Health, Inc.
Mr. Arroyo was instrumental in recovering $70 million for shareholders – one of the largest shareholder derivative monetary recoveries in history – in this shareholder derivative action alleging mismanagement by certain officers and directors at one of the largest distributors of pharmaceutical products in the country. Mr. Arroyo's efforts on behalf of our shareholder plaintiff included defeating numerous motions to dismiss and conducting extensive discovery. Staehr v. Walter, No. 02-CVG-11-0639 (Ohio Ct. C.P. –Del. Cnty. Dec. 17, 2007)


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