- Shareholder Rights & Fiduciary Duty Litigation
- Shareholder Derivative Actions
- Corporate Mergers & Acquisitions
- Securities Fraud Class Actions
- Consumer Class Actions
- Antitrust Class Actions
- ERISA Litigation
- University of San Diego School of Law (J.D. 1998)
- University of California, Berkeley (B.A. 1994)
- U.S. District Courts for the Northern, Central, and Southern Districts of California
- U.S. District Court for the District of Colorado
- U.S. Courts of Appeals for the Second, Third, Fourth, Seventh, and Ninth Circuits
- San Diego County Bar Association
- Super Lawyer (2009 – 2017)
Marc M. Umeda, co-founder of Robbins Arroyo LLP, has devoted his entire career to complex litigation with a focus on shareholder derivative actions and class actions. Mr. Umeda has successfully prosecuted actions throughout the country on behalf of his shareholder clients, achieving millions in monetary contributions, including one of the largest monetary settlements ever in a derivative action, and forcing corporate governance reform at some of the country’s most well-known companies.
Mr. Umeda has served as lead counsel on numerous cases and has represented shareholder clients in the technology, health care, utilities, financial, and service sectors. His dedication to shareholder causes has drawn praise from judges, such as the Honorable Mark R. Forcum of the Superior Court of California, County of San Mateo, who has observed that Mr. Umeda is “an excellent lawyer” who is committed “to do the best possible job he can for [his client].”
Mr. Umeda earned his Juris Doctor degree from the University of San Diego School of Law, where he served as a member of the San Diego Law Review. He earned his Bachelor of Arts degree in Political Science from the University of California.
Selected Noteworthy Cases
Brocade Communications Systems, Inc.
Mr. Umeda played a key role in litigating a shareholder derivative litigation arising out of a multi-year criminal stock option backdating scheme by certain of Brocade's officers and directors. Mr. Umeda led the firm in preventing an inadequate settlement that would have released defendants for no money to the company. He and his litigation team in diligently prosecuted the case for almost three years until the company formed a special litigation committee to consider the plaintiff’s claims. The firm was then retained to serve as co-counsel to Brocade’s special litigation committee, which ultimately authorized the prosecution of claims against many of Brocade’s officers and directors on behalf of the shareholders. In re Brocade Communications Systems, Inc. Derivative Litigation, No. 1:05CV041683 (Cal. Super. Ct.-Santa Clara County).
Cardinal Health, Inc.
Mr. Umeda served as lead counsel in shareholder derivative litigation alleging mismanagement by certain officers and directors at one of the largest distributors of pharmaceutical products in the country. In prosecuting plaintiff's claims, Mr. Umeda defeated numerous motions to dismiss, conducted extensive discovery, and negotiated a resolution that resulted in a payment of $70 million to the company, one of the largest shareholder derivative monetary recoveries in history. In re Cardinal Health Derivative Litigation, No. 02-CVG-11-639 (Ohio Ct. C.P.-Del. County Dec. 17, 2007).
Mr. Umeda served as lead counsel in a shareholder derivative action alleging breach of fiduciary duty and unjust enrichment against several officers and directors at the company. Mr. Umeda diligently prosecuted the case for over three years and secured $33 million for the company, as well as personnel changes among the company’s executive officers and board members. In re Nicor, Inc. Shareholder Derivative Litigation, No. 02 CH 15499 (Ill. Cir. Ct.-Cook County Mar. 29, 2005).
Juniper Networks, Inc.
In a state shareholder derivative action alleging violations of law arising from a stock option backdating scheme, Mr. Umeda helped secure substantive corporate governance reform and a contribution of more than $22 million in stock options to the company from four executives and directors of the board. In re Juniper Networks, Inc. Derivative Litigation, No. 1:06-CV-064294 (Cal. Super. Ct.-Santa Clara County Dec. 4, 2008).
Mr. Umeda served as lead counsel in a state shareholder derivative action concerning stock option backdating by certain company insiders. Mr. Umeda helped secure a contribution of $15.8 million to NVIDIA and significant corporate governance reforms designed to strengthen internal controls and the independence and accountability of NVIDIA’s board of directors. In re NVIDIA Corporation Derivative Litigation, No. 1:06-CV-073475 (Cal. Super. Ct.-Santa Clara Apr. 6, 2009).
Mr. Umeda represented shareholders in a state shareholder derivative action concerning stock option backdating at Sanmina-SCI Corporation. The settlement achieved by Mr. Umeda included a $16.5 million contribution to the company from the defendants and numerous corporate governance reforms to strengthen policies regarding stock option plans, among others. In re Sanmina-SCI Corporation Shareholder Derivative Litigation, No. 1:06-CV-071786 (Cal. Super. Ct.-Santa Clara May 15, 2009).
Mr. Umeda served as lead counsel in shareholder derivative litigation and argued the case before the Ninth Circuit Court of Appeals. Despite the adverse opinion, the issue at hand—whether section 304 of the Sarbanes-Oxley Act of 2002 provides for a private right of action enforceable by individual shareholders in a derivative action—remains a critical tool in making companies whole when their officers engage in misconduct leading to a financial restatement. In re Digimarc Corporation Derivative Litigation, No. 06-35858 (9th Cir. Jan. 7, 2009).