Michael J. Palestina

Partner

New Orleans Office
(504) 648-1843
Michael J. Palestina

Mr. Palestina practices securities and other complex class action litigation. He focuses his practice on securities litigation involving mergers and acquisitions. In his capacity as a KSF partner, Mr. Palestina currently serves as lead, co-lead, or executive committee counsel in several ongoing M&A cases and has previously served in the same capacity in several successfully resolved M&A cases.

For example, Mr. Palestina took part in the successful resolution of In re EnergySolutions, Inc. Shareholder Litigation, Consol. C.A. 8203-YCG (Del. Ch. 2013), a securities class action involving claims for breach of fiduciary duties to shareholders relating to a proposed merger of nuclear energy related companies worth $1.1 billion ($375 million in proposed shareholder consideration), where there was a $0.40 price increase, which increased the consideration to shareholders by more than 10%, or approximately $38 million, and over 20 pages of additional disclosures to the proxy statement relating to process and pricing claims. More recently, Mr. Palestina served as one of three co-lead counsel in In re American Capital, Ltd. Shareholder Litigation, Case No. 422598-V (Circuit Court for Montgomery County, Maryland 2016), a securities class action involving claims for breach of fiduciary duty in connection with the sale of American Capital Ltd. against both American Capital’s board and senior officers and Elliott Management Corporation, the activist investor fund that agitated for the sale. Therein, Mr. Palestina was instrumental in obtaining a $17.5 million settlement from American Capital’s board members and officers and Elliott, in so doing defeating a motion to dismiss by Elliott and obtaining an unprecedented ruling that Elliott may be considered a controller and subject to entire fairness review at trial.

Several of Mr. Palestina’s current cases also implicate evolving and novel areas of corporate merger law. For example, in Helen Moore v. Macquarie Infrastructure and Real Assets, et al. (Cleco Corporation Merger), Case No. 251,417, c/q 251,456 and 251,515, Div. “C” (9th JDC, Louisiana, 2014), in which Mr. Palestina serves as one of two Interim Co-Lead Counsel, he was instrumental in securing a landmark Louisiana appellate decision finding that merger-related challenges are direct, and not derivative, in nature. Similarly, in Kenneth Riche v. James C. Pappas, et al. (U.S. Geothermal Merger), C.A. No. 2018-0177-JTL (Del. Ch. 2018), in which Mr. Palestina serves as counsel for the Plaintiff, Mr. Palestina is litigating one of the few merger challenges to survive a motion to dismiss post-Corwin. Finally, in Lisa Guzman v. Robert L. Johnson, et al. (RLJ Entertainment Merger), Case No. A-18-783643-B (Nevada Dis. Ct. 2018), in which Mr. Palestina again serves as counsel for the Plaintiff, Mr. Palestina is litigating whether Nevada’s “inherent fairness” standard survived the Nevada Legislature’s 2017 amendment of its business corporation laws.

Prior to joining KSF, Mr. Palestina clerked for the honorable Catherine D. Kimball, former Chief Justice of the Louisiana Supreme Court, and practiced law at a well-respected New Orleans litigation firm. While there, Mr. Palestina gained valuable trial experience, focused on complex commercial litigation, and represented a number of judges and his fellow lawyers regarding ethical issues before the State’s judicial and attorney disciplinary systems.

Mr. Palestina graduated from Tulane University in 2005 with a Bachelor of Arts in Political Science. He earned his J.D. in 2008 from Loyola University of New Orleans College of Law, where he graduated magna cum laude, was a William L. Crowe, Sr. Scholar, and was inducted into the Order of Barristers. While in law school, Mr. Palestina was a member of the Loyola Law Review and Loyola Moot Court, was the first place oralist in the Loyola Intramural Moot Court Competition, and represented Loyola at the Stetson International Environmental Moot Court Competition (where he was the fourth place oralist overall) and on the National Team at the New York Bar Association’s National Moot Court Competition (where his team advanced to the finals). Mr. Palestina also served as a research assistant to the Leon Sarpy Professor of Law Professor Kathryn Venturatos Lorio, whom he assisted in a revision of her Westlaw treatise on Louisiana Succession and Donations, and as a Judicial Intern to Magistrate Joseph C. Wilkinson, Jr. of the United States Federal District Court for the Eastern District of Louisiana. Mr. Palestina’s Law Review article, Of Registry: Louisiana’s Revised Public Records Doctrine, was published in the Loyola Law Review. 

Education

  • Loyola University of New Orleans College of Law, 2008, J.D., magna cum laude
  • Tulane University, 2005, B.A.

Bar Admissions

  • Louisiana
  • United States District Courts for the Eastern District of Louisiana
  • United States District Courts for the Middle District of Louisiana
  • United States District Courts for the Western Districts of Louisiana

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Kahn Swick & Foti, LLC Privacy Policy

This privacy notice applies to www.ksfcounsel.com and all other websites on the World Wide Web owned or operated by Kahn Swick & Foti. It explains how we collect, use, process and share personal data we collect about you when you visit this website, including in connection with potential or actual representation of you by Kahn Swick & Foti. This notice is in accordance with European Data Protection laws (including the General Data Protection Regulation, effective May 25, 2018, as well as other country-specific laws that may be applicable).

This website is not intended for children and we do not knowingly collect personal data related to children.

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Kahn Swick & Foti collects, uses, stores and transfers different kinds of personal information about you, such as:

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How Do We Collect Information About You?

We collect information about you in the following ways:

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We will only use your personal data in ways permitted by law, which may or may not include consent, depending on the type of data obtained. Any information you submit to us may be used to communicate with you regarding the matter or case for which you provided the information, as well as to communicate with you regarding unrelated matters or cases.

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Marketing

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EU residents may have certain rights under European data protection law governing the personal data that Kahn Swick & Foti processes, including:

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To exercise these rights with respect to any data provided to Kahn Swick & Foti, please contact us. All requests will be dealt with in accordance with the law.

Your California Privacy Rights

California Civil Code §1798.83 permits our clients who are California residents to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

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Kahn Swick & Foti uses cookies on its website. The cookie contains a short, unique alphanumeric string that helps us recognize a specific user, which helps us improve the user’s online experience and personalize the site. For example, certain confirmation pages may display the name users provide to us. By using our website, you agree that we can place these types of cookies on your device.

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Data Retention and Storage

All data collected through this website, including data submitted by you, will be stored in the United States. Please note that, should you wish to submit personal data protected under European data protection law (other than for purposes of responding to your inquiry), you should contact us prior to submitting such data to discuss options.

We will only retain your personal data for as long as necessary to satisfy the purpose for which it was collected. Examples include satisfying legal, regulatory, accounting, reporting requirements and/or executing legal work for which we were retained by you. The specific retention period applicable to the type of data obtained will depend upon a variety of factors, including the data type, purpose for which it was obtained, and the nature, volume and sensitivity of the personal data, among others. If you would like to know more about data retention, please contact us.

Changes to Our Privacy Policy

Kahn Swick & Foti reserves the right to change this policy at any time by posting a new privacy policy at this location.

How to Contact Us

If you have questions concerning this Privacy Notice, wish to obtain additional information, or exercise specific data subject rights pursuant to European law (including the General Data Protection Regulation, and other country-specific data protection laws that may apply), please contact us.

Kahn Swick & Foti, LLC Terms & Conditions

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Please note that, should you wish to submit personal data protected under European data protection law (other than for purposes of responding to your inquiry and/or determining class eligibility), you should contact us prior to submitting such data.