s-oddo

PRACTICE AREAS

Securities Class Actions

Education

University of San Diego School of Law (J.D. 1994)

Northwestern University, Medill School of Journalism (M.S.J. 1987)

Santa Clara University (B.A. 1986)

Bar Admissions

California

Court Admissions

U.S. District Courts for the Northern, Central, and Southern Districts of California

U.S. District Court for the District of Colorado

U.S. District Court for the Northern District of Illinois

U.S. District Court for the Southern District of Texas

U.S. District Court for the Eastern District of Michigan

U.S. District Court for the Eastern District of Wisconsin

Honors

Legal 500 Recommended Attorney, M&A Litigation (2016)

Super Lawyer (2016, 2017)

Affiliations

Association of Business Trial Lawyers

Contact

Phone: (619) 525-3990
E-mail: soddo@robbinsarroyo.com

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Stephen J. Oddo

PARTNER

Stephen J. Oddo has devoted his practice to representing individual and institutional shareholders in corporate merger and acquisition class actions for more than a decade. He has secured tens of millions of dollars of additional consideration for shareholders whose investments have been adversely impacted by corporate transactions. Mr. Oddo has also obtained disclosure of material information to shareholders so they are informed about the transaction at the time of the vote. His litigation efforts have helped preserve the integrity of the merger process in companies across the country and maximized the value to shareholders.

Prior to joining Robbins Arroyo LLP, Mr. Oddo was a partner at the firm now known as Robbins Geller Rudman & Dowd LLP, where he was part of a team at the forefront of litigating shareholder claims challenging unfair business combinations. Before entering the legal profession, Mr. Oddo served as Press Secretary to U.S. Representative Robert T. Matsui (D-Cal).

Mr. Oddo earned his Juris Doctor from University of San Diego School of Law. During law school, he interned for the Honorable Eugene Lynch, U.S. District Judge in the Northern District of California. Mr. Oddo earned his Masters of Science in Journalism from Northwestern University, Medill School of Journalism, and his Bachelor of Arts at Santa Clara University.

Selected Noteworthy Cases

  • Venoco ,Inc.,  In re Venoco, Inc. S’holder Litig., C.A. No. 6825-VCG (Del. Ch. Oct. 5, 2016): Mr. Oddo served as co-lead counsel to the public shareholders of Venoco, Inc. in this class action arising out of a scheme by the energy company’s Chief Executive Officer to buy out Venoco’s minority shareholders at an inadequate share price. After four years of contentious litigation and amidst the company’s demise, Mr. Oddo achieved a settlement fund of $19 million for shareholders—a significant recovery in light of Venoco’s dire financial circumstances. The court noted that this settlement represented a 5.2% increase in the consideration received by the shareholders over the $12.50 share price in the merger consideration, an increase greater than recent settlements of this type. At the final approval hearing, the Honorable Sam Glasscock III, Vice Chancellor, in the Court of Chancery of the State of Delaware touted the settlement as a “good result for all” and “very fortunate for the class.” Transcript of Proceeding at 19, 22, In re Venoco, Inc. S’holder Litig., C.A. No. 6825-VCG (Del. Ch. Oct. 5, 2016).
  • Star Scientific, In re Star Scientific, Inc. Securities Litig., No. 3:13-CV-00183-JAG (E.D. Va. July 6, 2015): Mr. Oddo served as lead counsel in this securities fraud class action against Star Scientific, Inc. alleging that the defendants made materially false and misleading statements regarding Johns Hopkins University School of Medicine’s purported involvement in the clinical development and testing of Star Scientific’s main product —Anatabloc®—to increase Star Scientific’s stock price to the detriment of stockholders and to secure the equity financing the company needed to stay in business. Mr. Oddo successfully defeated defendants’ motion to dismiss, conducted preliminary discovery, and engaged in extensive settlement discussions. Ultimately, Mr. Oddo secured a $5.9 million settlement fund on behalf of stockholders who purchased their shares of Star Scientific stock based on the misrepresentations.
  • PETCO Animal Supplies, Inc., In re PETCO Animal Supplies, Inc. S’holder Litig., Lead Case No. GIC 869399 (Cal. Super. Ct.-San Diego Cnty. Mar. 26, 2010): Mr. Oddo, serving as co-lead counsel, represented the plaintiff and public shareholders in a securities class action alleging that the going-private acquisition of PETCO by a private equity group was consummated at an unfair price. Shareholders further alleged that an alternate bidder had offered to buy PETCO at a significantly higher price per share. After more than three years of contentious litigation, Mr. Oddo helped secure a $16 million settlement fund to be distributed to the class of shareholders.
  • Electronic Data Systems Corporation, In re Electronic Data Systems Class Action Litig., Master File No. 366-01078-2008 (Tex. Dist. Ct.-Collin Cnty. Dec. 23, 2008): Mr. Oddo served as lead counsel in this securities class action that challenged the acquisition of Electronic Data Systems Corporation by Hewlett-Packard Company. Mr. Oddo negotiated a pre-closing settlement that secured for Electronic Data Systems shareholders a $25 million dividend and the disclosure of previously omitted material information concerning the transaction that allowed for an informed shareholder vote.
  • eMachines, Inc., In re eMachines, Inc. Merger Litig., No. 01-CC-00156 (Cal. Super. Ct.-Orange Cnty. July 25, 2007): Mr. Oddo represented the shareholders of eMachines, Inc. in a challenge to the efforts of the company’s founder to take the company private, and helped secure a $24 million common fund for shareholders.