Mike is a securities and business litigator whose practice focuses on value enhancement for professional investors through shareholder opt-out litigation, shareholder appraisal actions, and creditors’ rights lawsuits. He has more than a decade of experience representing investment managers and institutional investors in cases involving securities fraud, structured finance disputes, claims for breach of fiduciary duty, and shareholder appraisal rights.
Prior to entering private practice, Mike served as a law clerk to the Honorable Jaynee LaVecchia on the Supreme Court of New Jersey.
Representative Matters and Decisions
- In nationwide case of first impression, won motion to remand to state court case brought under the Uniform Voidable Transactions Act (formerly named the Uniform Fraudulent Transfer Act) on the basis that the fraudulent conveyance claim was improperly removed to federal court under the Securities Litigation Uniform Standards Act. GMO Trust v. Bausch Health Companies, Inc., 2022 WL 17326551 (D.N.J. Nov. 29, 2022).
- Successfully argued before United States Court of Appeals for the Third Circuit on behalf of amicus curiae in an important case involving the time limits for filing suit under the federal securities laws. The Court of Appeals agreed with and expressly relied on several of the points argued by Mike in holding that American Pipe tolling applies to individual actions filed before the issue of class certification is decided. Aly v. Valeant Pharms. Int'l Inc., 1 F.4th 168 (3d Cir. 2021).
- Defeated large portions of motion to dismiss securities fraud claims, winning a critical issue for investors as to the application of tolling to preserve timeliness of shareholder claims in case against large pharmaceutical company. MYL Litig. Recovery I LLC v. Mylan N.V., 2020 WL 1503673, (S.D.N.Y. Mar. 30, 2020).
- Defeated motion to dismiss in securities fraud case arising from the failed multi-billion-dollar acquisition of Akorn, Inc. by Fresenius Kabi. Twin Master Fund, Ltd. v. Akorn, Inc., 2020 WL 564222 (N.D. Ill. Feb. 5, 2020).
- Defeated motions to dismiss securities fraud cases brought by private funds who opted out of class action filed against one of the nation’s largest non-bank mortgage servicers. Owl Creek I, L.P. v. Ocwen Fin. Corp., 2018 WL 4844019 (S.D. Fla. Oct. 4, 2018), and Broadway Gate Master Fund, Ltd. v. Ocwen Fin. Corp., 2016 WL 9413421 (S.D. Fla. June 29, 2016). In the Broadway Gate case, went on to defeat the defendant’s motion for summary judgment and litigated the claim to the brink of trial, at which point the defendant agreed to pay a substantial premium to settle the opt-out claim.
- Defeated motion to dismiss investor opt-out actions in a case against a drug company that has been referred to as the “pharmaceutical Enron.” Discovery Glob. Citizens Master Fund, Ltd. v. Valeant Pharm. Int’l, Inc., 2018 WL 406046 (D.N.J. Jan. 12, 2018).
- Defeated critical aspect of Defendants’ motion to dismiss state law fraud claims in case against real estate investment trust. Fir Tree Capital Opportunity Master Fund, L.P. v. Am. Realty Capital Properties, Inc., 2017 WL 10808809 (S.D.N.Y. Dec. 14, 2017).
- Obtained a $42.5 million settlement agreement with real estate operating company VEREIT to resolve lawsuits brought on behalf of four investment fund clients that opted out of a contemporaneous class action.
- Successfully argued appeal obtaining reversal of lower court’s dismissal of trustee’s indemnification claim against sponsor of $800 million RMBS trust. Wilmington Trust Co. v. Morgan Stanley Mortgage Capital Holdings, LLC, 152 A.D.3d 421 (N.Y. App. Div. 1st Dep’t 2017).
- Successfully obtained reversal in New York Appellate Division of trial court decision dismissing senior creditors’ challenge to half-billion-dollar corporate debt exchange. GSO Coastline Credit Partners LP v. Global A&T Elecs. Ltd., 142 A.D.3d 858 (1st Dep’t 2016).
- Defeated core of motion to dismiss in securities fraud case against major gold miner. BG Litig. Recovery I, LLC v. Barrick Gold Corp., 180 F. Supp. 3d 316 (S.D.N.Y. 2016).
Mike is a contributor to the RKS Valuation Litigation and Shareholder Rights (VLSR), a clearinghouse for news and analysis involving global issues of shareholder and investor rights, including investor’s ability to use appraisal litigation to preserve value in mergers and other corporate events.
Numerous media organizations have covered the formation of Rolnick Kramer Sadighi LLP, a “premier securities litigation boutique dedicated to serving the investment management industry, including hedge funds, mutual funds, private equity, credit, real estate and structured finance firms.” Other outlets covering the formation include: Law.com; NJBiz; Bloomberg.com; and AlternativesWatch.com.