Philip C. Babler

Senior Counsel

Philip C. Babler

Senior Counsel

Philip Babler represents corporate directors and shareholders in high-stakes shareholder lawsuits. He litigates shareholder disputes involving public and private companies arising from transactions valued in the tens of billions of dollars. Philip’s experience in shareholder disputes includes class actions arising under both state and federal law. Philip has particularly deep experience litigating class actions challenging merger transactions and proxy disclosures, litigating disputes involving closely held corporations, and responding to requests for corporate records and shareholder demand letters. He is a member of the firm’s Securities Enforcement & Litigation Practice Group, as well as the firm’s Appellate, Antitrust & Competition, and Business Litigation & Dispute Resolution Practices. He is also a member of the firm’s Health Care & Life Sciences Sector.

Philip’s practice also involves disputes arising under Delaware law. He has handled cases in the Delaware Court of Chancery, the Delaware Supreme Court, and the District of Delaware. Philip advises directors about their fiduciary duties and how to avoid shareholder lawsuits. Philip also litigates antitrust cases and counsels clients on how to avoid them. His antitrust practice focuses on the healthcare industry. He has successfully defended against antitrust claims brought by the FTC, DOJ, and private parties. Philip regularly provides antitrust advice regarding potential mergers, deceptive price advertising, and state deceptive trade practices acts.

Philip is a seasoned appellate litigator. He has successfully litigated appeals around the country in both state and federal court. Philip has argued before the Seventh Circuit and the Wisconsin Supreme Court. Before joining the firm, Philip served as a judicial law clerk for Justice David T. Prosser, Jr. of the Wisconsin Supreme Court.

Representative Experience

  • Smykla v. Molinaroli, aff’d 85 F.4th 1228 (7th Cir. 2023)

Awards and Recognition

  • Received, Best Lawyers: Ones to Watch recognition for:
    • Commercial Litigation (2022-2024)
    • Appellate Practice (2023-2024)
    • Antitrust Law (2024)

Affiliations

  • Member, Board of Directors of Lighthouse Youth Center Foundation
  • Member, Friends of the Haggerty Museum of Art Board
23 April 2024 Article

U.S. Supreme Court Rules That “Pure Omissions” Are Not Actionable Under Rule 10b-5

On April 12, 2024, the United States Supreme Court delivered an important decision on the issue of whether a failure to make disclosure required under Item 303 of Regulation S-K can support a Rule 10b-5 claim, even in the absence of an otherwise-misleading statement.
22 April 2024 Deals and Wins

Foley Represents AI Pioneer Matterport in Definitive Agreement to be Acquired by CoStar Group

Foley & Lardner LLP is representing Matterport, Inc. in its proposed acquisition by CoStar Group for an estimated equity value of approximately $2.1 billion and an enterprise value of approximately $1.6 billion.
16 April 2024 Foley Ignite

Significant Recent Decisions Relevant To Private Company M&A

In navigating the complex world of private company mergers and acquisitions (M&A), understanding recent legal decisions is paramount.
13 March 2024 Foley Ignite

SEC v Panuwat: The SEC’s Novel “Shadow Trading” Insider Trading Case Goes to Trial 

Insider trading is a concept that most people are generally familiar with.  In its simplest form, it involves a corporate insider trading in securities of his or her corporation on the basis of material nonpublic information about that corporation. 
12 March 2024 Foley Ignite

Palkon v. Maffei: Delaware’s Warning Shot to Controlling Stockholders Seeking to Evade Fiduciary Duties by Reincorporating

In late February, the Chancery Court denied a motion to dismiss a stockholder lawsuit against the controlling stockholder and board of directors of TripAdvisor, Inc., seeking to enjoin a reincorporation of TripAdvisor into Nevada based on allegations that the reincorporation was an unfair self-interested transaction.
17 August 2023 Honors and Awards

Foley Attorneys Recognized in 2024 Best Lawyers in America

Foley & Lardner LLP proudly announced today that 236 of the firm’s attorneys across 20 U.S. offices have received recognition in the 2024 edition of The Best Lawyers in America©.