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)


  • Member, Board of Directors of Lighthouse Youth Center Foundation
  • Member, Friends of the Haggerty Museum of Art Board
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©.
14 March 2023 Innovative Technology Insights

Can Directors/Officers be Liable for Depositing Corporate Funds in and Borrowing from a Bank Taken Over by the FDIC?

While the FDIC and the Treasury Department have since stepped in to ensure that all deposits are protected, the Silicon Valley Bank collapse is an opportunity for corporate directors and officers to reassess their current risks relating to cash management and investment policies in the current environment of economic uncertainty.
18 August 2022 Press Releases

Foley Attorneys Recognized in 2023 Best Lawyers in America

Foley & Lardner LLP proudly announced that 250 of our attorneys across 20 offices have received recognition in the 2023 edition of The Best Lawyers in America.
27 January 2022 Newsletters

Lessons On Conflicted-Party Transactions from NC Ruling

The North Carolina Supreme Court recently concluded that shareholders dissenting from Reynolds American Inc.'s 2017 merger with British American Tobacco were not entitled to more consideration than the deal price.