Laura H. Acker

Gibson Dunn has delivered one of the most significant securities litigation defense results of 2025, achieving a near-total victory for Energy Transfer LP in Allegheny County Employees’ Retirement System v. Energy Transfer LP (E.D. Pa. No. 2:20-cv-00200-GAM).  Our winning team of trial lawyers was hired to replace another defense firm after the motion to dismiss had been denied and a class had been certified. While virtually all securities class action lawsuits are settled short of trial and long before a decision on summary judgment, our team had a single objective:  to litigate the case to victory, including at trial if necessary.  The odds of achieving this goal were steep.  After years of litigation, plaintiffs sought more than $2.1 billion in damages stemming from claims that Energy Transfer misled investors about its multibillion-dollar Mariner East 2 and Revolution pipeline projects spanning the state of Pennsylvania.  Once hired, our team — with critical assistance from a team of Morgan Lewis lawyers led by Laura H. McNally — sprang into action and implemented a strategy that eviscerated nearly all claims before trial and capped Energy Transfer’s exposure at less than 5% of the alleged damages. Following extensive discovery (over 1.5 million documents and 40 depositions), our team obtained a groundbreaking summary judgment ruling in August 2024.  The court eliminated 98% of the plaintiffs’ estimated damages, holding that only a single narrow corrective disclosure could even proceed to trial.  With trial weeks away, plaintiffs agreed to a $15 million class settlement.  To put this amazing defense result in context, the plaintiffs’ lodestar (the amount they claim they would have received in fees had they charged at an hourly rate) was more than $50 million, and the settlement eliminated over $2 billion of exposure for Energy Transfer. The recently approved settlement serves as a model of strategic and data-driven defense litigation by lawyers who, unlike most securities class action defense (and plaintiff) firms, are ready, willing, and able to win cases at trial. The court found the outcome “fair, reasonable, and adequate,” noting the absence of any objections from over 745,000 notified class members. This result exemplifies our firm’s ability to dismantle complex securities claims through rigorous expert work, targeted motion practice, and disciplined trial readiness — shielding the client from potentially catastrophic liability while preserving its reputation and resources. Led by partner Trey Cox, our winning team of trial lawyers included partners Brian Lutz, Colin Davis, and Lissa Percopo and associates Holly Rooke, Dana Sherman, Luke Dougherty, and Lydia Lulkin. Download PDF

Oct 16

2 min

Willkie is advising Take-Two Interactive Software, Inc. (NASDAQ: TTWO), one of the largest interactive entertainment companies in the world, on its $460 million acquisition of The Gearbox Entertainment Company from Embracer Group . On March 27, Take-Two announced that it entered into a definitive agreement with Embracer Group to acquire The Gearbox Entertainment Company, an award-winning creator of industry-defining entertainment experiences, for $460 million in an all-stock deal. Take-Two will acquire Gearbox Entertainment’s extensive portfolio of intellectual property, including full ownership of the successful Borderlands, Tiny Tina’s Wonderlands and Homeworld franchises. Willkie previously represented Take-Two in numerous transactions, including its $12.7 billion acquisition of Zynga in 2022. Headquartered in New York City, Take-Two Interactive Software, Inc. is a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. The Willkie team is led by partners Adam Turteltaub and Laura Acker and includes associates David Araoz and Megan Goss.

Mar 29

1 min

Willkie is representing longstanding client Interpublic Group (NYSE: IPG) in its acquisition by Omnicom (NYSE: OMC) in a stock-for-stock transaction that would create a premier marketing and sales company. On December 9, Omnicom and The Interpublic Group announced that they have signed a definitive agreement pursuant to which Omnicom will acquire Interpublic in a stock-for-stock transaction.  The combined company is expected to bring together a deep bench of marketing talent and broad and innovative services and products, underpinned by an advanced sales and marketing platform, to position the new entity for continued growth in a new era of marketing. Under the terms of the agreement, Interpublic shareholders will receive 0.344 Omnicom shares for each share of Interpublic common stock they own. Following the close of the transaction, Omnicom shareholders will own 60.6% of the combined company and Interpublic shareholders will own 39.4%, on a fully diluted basis. The transaction is expected to generate annual cost synergies of $750 million. The stock-for-stock transaction is expected to close in the second half of 2025, subject to Omnicom and Interpublic shareholder approvals, required regulatory approvals, and other customary conditions. The combined company will retain the Omnicom name and trade under the OMC ticker symbol on the New York Stock Exchange. Omnicom and Interpublic Group had a combined 2023 revenue of $25.6 billion. Willkie previously advised Interpublic Group, a global provider of marketing solutions, on numerous transactions, including its sale of Huge to AEA investors on December 5, and its $2.3 billion acquisition of data marketing company Acxiom Marketing Solutions in 2018. The Willkie team is led by partners Danielle Scalzo and Laura Acker and included partners Samir Patel and Jordan Messinger.

Dec 9

1 min

On May 30, Willkie client Flagstone Foods, one of the largest manufacturers and distributors of private label snack nuts and trail mixes in North America, announced its acquisition of Emerald Nuts from Campbell Soup Company. Flagstone Foods, a portfolio company of Atlas Holdings, is a premier manufacturer of snack nuts, culinary nuts, trail mixes and other nut-based snacks servicing the nation's top retailers in the club, mass, grocery, drug, limited assortment and convenience channels. The acquisition of Emerald Nuts adds one of the leading snack nut brands in the U.S. to Flagstone Foods’ portfolio. Atlas Holdings and its affiliates are a diversified group of 26 manufacturing and distribution businesses in the automotive, building materials, business services and solutions, construction, energy, food and beverage, industrial services, metals, packaging, printing, pulp, paper, and logistics industries. The Willkie team was led by partners Laura Acker and Justin Sommerkamp and included associate Augustine Donati and law clerk Kevin Ahmed.

May 31

1 min

On June 1, Willkie client Lakeside Book Company announced that it acquired all of the issued and outstanding shares of Marquis Book Printing, Inc. Marquis is a premier book manufacturer in Canada providing high-quality print services to the publishing and communications industries in Canada, the United States and Europe. With this acquisition, Lakeside will enhance its service offering with access to the Canadian market, while improving lead time and overall service capabilities for small and large publishers alike. Willkie previously advised Atlas Holdings in its acquisition in 2020 of LSC Communications, the book division of which became Lakeside Book Company, and subsequently advised Lakeside Book Company in its acquisition of Phoenix Color Corp. in 2022. The Willkie team was led by partners Steven Seidman, Mark Cognetti and Laura Acker and included associates David Araoz and Ryan Chambers.

Jun 8

1 min