Michael Smith is a partner in King & Spalding’s Business Litigation Practice Group, focusing on securities and shareholder litigation. Mr. Smith joined King & Spalding in 1983 and has been a partner of the firm since 1990. He has served as a member of the firm’s Policy Committee since 2007.

Mr. Smith has litigation experience in a wide range of securities and shareholder litigation matters, including securities fraud class action litigation, shareholder derivative actions, audit committee and other independent committee investigations, SEC enforcement actions, partnership disputes, proxy contests and corporate takeover litigation, and other related business tort litigation. He has appeared in courts throughout the southeastern United States, and in New York, Delaware, California, the District of Columbia, Maryland, Massachusetts, Illinois, Minnesota and Texas. Representative matters in which Mr. Smith has appeared over the last few years include the following:

• Defense of The Home Depot, Inc. and its directors and officers in various 10b-5 securities class actions and shareholder derivative suits arising out of return-to-vender credit issues, executive compensation, and stock options. Grant of motion to dismiss 10b-5 securities class action affirmed by the 11th Circuit in 2008.
  
  
• Defense of former directors and officers of NetBank, Inc. in separate shareholder and depositor class actions alleging fraud, breach of fiduciary duties, and/or violations of securities laws in connection with the failure of NetBank in 2007. Won motion to dismiss depositor action in 2008.
  
  
• Advising special board committee of publicly held financial institution regarding internal investigation and response to shareholder demand letter arising out of subprime financial crisis.
  
  
• Representation of a Southeast based financial institution in an auction rate securities investigation by the Financial Industry Regulatory Authority (FINRA).
  
  
• Defense of former top officers and directors of Southeast Banking Corp. in multiple shareholder actions in Miami and Orlando, Florida seeking over $1 billion in damages arising out of the nation’s fourth largest bank failure.
  
  
• Defense of Force Protection, Inc. and its directors and officers in various 10b-5 securities class actions and shareholder derivative suits arising out of Force Protection’s 2008 financial statement restatement.
  
  
• Defense of aaiPharma, Inc. in securities fraud class actions, derivative litigation, and SEC and grand jury investigations arising out of aaiPharma’s restatement of its 2002 and 2003 financial statements.
  
  
• Defense of American Tower Corporation and its directors and officers in various 10b-5 securities class actions and shareholder derivative suits arising out of a restatement related to stock options accounting.
  
  
• Defense of ChoicePoint Inc. in securities class action litigation, shareholder derivative litigation, and an SEC investigation arising out of fraudulent access to private consumer data in California by an identity theft ring. Won motion to dismiss the derivative suit against ChoicePoint’s board, which was affirmed on appeal by the Georgia Court of Appeals.
  
  
• Defense of former senior officer and director of Coherent, Inc. in connection with a stock options investigation and related shareholder derivative litigation.
  
  
• Representation of the former CEO of Waste Management, Inc. in shareholder litigation and a related SEC investigation arising out of Waste Management’s earnings restatement for a six year period.
  
  
• Representation of General Electric Capital Corporation in connection with the shareholder litigation arising out of GECC’s $5 billion acquisition of Arden Realty, Inc.
  
  
• Defense of Tractor Supply Company and its Board of Directors in a derivative action based on “whistleblower” allegations of accounting manipulations. Won motion to dismiss all claims in 2005.
  
  
• Defense of CryoLife, Inc. and its directors and officers in securities fraud class actions, derivative litigation, and an SEC investigation following an FDA tissue recall order in mid-2002.