Shane P. Sanders

Mr. Sanders served as lead counsel for the plaintiffs in the consolidated state derivative action alleging that, from the third quarter of 2015 through the first half of 2017, certain Under Armour officers and directors issued statements intended to create the impression of continued strong demand that had fueled the company’s year-over-year quarterly revenue growth with the knowledge that Under Armour had been relying on unsustainable sales practices to mask declining demand that created revenue holes in future quarters and undercut future sales and margins by damaging relationships with full-price retailers. After eight years of litigation, Mr. Sanders helped obtain $8.9 million for Under Armour and significant corporate governance enhancements, including the creation of a disclosure committee, audit committee enhancements, and insider trading policy enhancements.

Coordinating a multi-jurisdictional litigation effort, Mr. Sanders helped secure $9 million for Becton Dickinson and Company and an agreement by the company to implement and maintain a package of corporate governance reforms in shareholder derivative litigation arising from alleged false and misleading statements concerning the company's Alaris infusion pump system.

Mr. Sanders was part of the team of attorneys that recovered a $100 million cash payment – the largest payment directly to a company in a derivative action in California state court history – for Wells Fargo & Co. in shareholder derivative litigation alleging breaches of fiduciary duty by certain Wells Fargo & Co. officers and directors stemming from the purported mismanagement of and noncompliance with myriad consent orders that resulted in the opening of deposit and credit card accounts without customer authorization. Plaintiffs defeated multiple rounds of dispositive motions, engaged in multi-jurisdictional litigation to streamline these proceedings into one court, forced the production of millions of pages of discovery, and worked through incredibly complex privilege issues with federal regulators to secure those documents. The settlement also includes significant corporate governance reforms, such as improvement to Wells Fargo's risk structure, programs, policies, and procedures, additional training for employees, expanded and enhanced oversight of risk management by Wells Fargo's Board of Directors, and changes to the composition of Wells Fargo's Board of Directors.

Mr. Sanders served as co-lead counsel for plaintiffs in shareholder derivative litigation alleging defendants made false and misleading statements regarding oversight and disclosures of adverse mortality experience and corresponding reserves for life insurance policies acquired from The Hartford Financial Services Group, Inc. After protracted litigation, Robbins LLP obtained $10 million for the company, which was deemed by the Honorable Stanley R. Chesler as "not only a reasonable recovery, it is a remarkable recovery and is a tribute to plaintiffs and plaintiffs' lawyer efforts in this case." (Transcript of Motion on Final Settlement Approval at 19-20).

Mr. Sanders served as part of the Robbins LLP team that represented plaintiffs who had concerns that Altria Group Inc.'s $12.8 billion investment in Juul Labs, Inc. undermined Altria's hard-fought reputational progress after decades of marketing tobacco products and funding misleading research about the harmful effects of smoking. Our hard-fought settlement requires Altria to commit to funding $117 million over five years, with a minimum spend of $20 million each year to address policy and governance measures relating to youth prevention and transaction oversight.