Marc M. Umeda
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., In re Brocade Communications Systems, Inc. Derivative Litigation, No. 1:05CV041683 (Cal. Super. Ct.-Santa Clara County): Mr. Umeda served as lead counsel in shareholder derivative litigation arising out of a multi-year criminal stock option backdating scheme by certain of the company’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. Mr. Umeda led a litigation team in diligently prosecuting 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 and on behalf of the shareholders.
- Cardinal Health, Inc., 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 shareholder derivative litigation alleging mismanagement by certain officers and directors at one of the largest distributors of pharmaceutical products in the country. Mr. Umeda prosecuted the plaintiff’s claims, defeating numerous motions to dismiss, conducting extensive discovery, and negotiating a resolution that resulted in a payment of $70 million to the company, one of the largest shareholder derivative monetary recoveries in history.
- Nicor, Inc., In re Nicor, Inc. Shareholder Derivative Litigation, No. 02 CH 15499 (Ill. Cir. Ct.-Cook County Mar. 29, 2005): 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.
- Juniper Networks, Inc., 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 co-lead counsel in a state shareholder derivative action alleging violations of law arising from a stock option backdating scheme. After extensively prosecuting the case, 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.
- NVIDIA Corporation, In re NVIDIA Corporation Derivative Litigation, No. 1:06-CV-073475 (Cal. Super. Ct.-Santa Clara Apr. 6, 2009): 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.
- Sanmina-SCI Corporation, In re Sanmina-SCI Corporation Shareholder Derivative Litigation, No. 1:06-CV-071786 (Cal. Super. Ct.-Santa Clara May 15, 2009): Mr. Umeda represented shareholders in a state shareholder derivative action concerning stock option backdating at Sanmina-SCI Corporation. Mr. Umeda achieved a $16.5 million contribution to the company from the defendants as well as numerous corporate governance reforms including stricter policies regarding stock option plans.
- Digimarc Corporation, In re Digimarc Corporation Derivative Litigation, No. 06-35858 (9th Cir. Jan. 7, 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.