Laura E. Krabill

Partner

krabilll@ballardspahr.com
Tel 215.864.8848
Fax 215.864.9756
Philadelphia

Laura E. Krabill concentrates on complex commercial matters with an emphasis on securities and corporate governance litigation, including securities class actions, shareholder derivative actions, special litigation and demand review committee investigations, and other contract and tort actions involving securities and fundamental corporate transactions.

Laura regularly advises corporate boards and special litigation and demand review committees in addressing derivative litigation and shareholder demands. She has led investigations by special litigation committees of Fortune 500 companies resulting in reports that have served as the basis for resolving the demands and dismissing derivative claims that committees determined were unwarranted and not in the best interests of the companies. She has also litigated numerous derivative actions challenging fundamental corporate transactions or purported beaches of fiduciary duties, including one of the most recent Pennsylvania Superior Court decisions affirming dismissal of a derivative action based on a special litigation committee report.

She has successfully defended corporations and directors and officers against claims of securities fraud, breach of fiduciary duty and proxy violations, including the first case decided by the Third Circuit Court of Appeals addressing the pleading standards adopted by the 1995 Private Securities Litigation Reform Act.

Laura also has substantial experience with matters involving complex securities, including warrants, convertible bonds, and certificates in securitizations. She has litigated issues relating to subprime mortgage securitizations and other CDOs, including the successful defense of a national bank against claims of fraud and negligent misrepresentation brought by the buyer of its nearly $2 billion securitized mortgage portfolio and obtaining judgment on the proper interpretation of governing documents for a subprime mortgage securitization resulting in distribution of funds to her client and similarly situated certificate-holders of over $150 million that would otherwise have been paid to the certificate insurer.

Laura has achieved an impressive number of victories at trial and on appeal, as well as through arbitration, pre-trial dispositive motions and obtained advantageous settlement. Her clients range from privately held companies to Fortune 500 public corporations in such industry sectors as financial services, investments and trading, technology, communications, real estate, retail, and health care.

In addition, Laura is a licensed patent lawyer. Before entering law school, she worked as an engineer at IBM in Research Triangle Park, North Carolina.

Representative Matters

  • Mariano v. CVI Invs., Inc., 2020 U.S. App. LEXIS 12474 (2d Cir. Apr. 20, 2020) -- affirming dismissal of fraud and breach of contract claims against client in connection with the client’s purchase of stock and warrants in a private investment in public equity (PIPE) transaction
  • Hudson Bay Master Fund Ltd. v. Patriot Nat’l, Inc., 2019 U.S. Dist. LEXIS 56635 (S.D.N.Y. Mar. 28, 2019) – granting summary judgment on behalf of client in excess of $21.6 million against public company for dishonoring warrants purchased in PIPE transaction
  • Braun v. Herbert, 180 A.3d 482 (Pa. Super. 2018) – affirming dismissal of derivative action based on the report of a special litigation committee and rejecting challenges by shareholder to the composition and procedures employed by the SLC
  • Fain v. USA Techs., Inc., 2017 U.S. App. LEXIS 16615 (3d Cir. Aug. 30, 2017) – affirming dismissal of securities class action complaint against client alleging fraud in connection with an inaccurate earnings press release and delayed Form 10-K filing
  • Datascope Analytics, LLC v. Comcast Cable Communs., 2013 U.S. Dist. LEXIS 70215 (E.D. Pa. May 17, 2013) – dismissing putative consumer class action against client
  • Wells Fargo Bank, N.A. v. ESM Fund I, LP, 2012 U.S. App. LEXIS 24909 (2d Cir. Dec. 5, 2012) – affirming judgment on the pleadings on behalf of client, certificateholder in a subprime mortgage securitization, regarding the proper interpretation of governing documents resulting in distribution to client and similarly situated certificateholders of over $150 million
  • Capital Ventures Int’l v. Republic of Argentina, 652 F.3d 266 (2d Cir. 2011) – reversing district court and reinstating attachment in favor of client of Argentinian assets to collect on judgment based on defaulted bonds
  • Fundamental Partners v. Gaudet, 2011 Phila. Ct. Com. Pl. LEXIS 373 (C.C.P. Phila. Nov. 23, 2011) – dismissing derivative claims challenging corporate merger based on conclusions of an SLC that claims lacked merit and were not in the best interests of the company
  • Clark v. Comcast, 582 F. Supp. 2d 692 (E.D. Pa. 2008) – dismissing securities fraud class action claims brought against client for failure to plead scienter
  • Mulligan v. QVC, 382 Ill. App. 3d 620, 888 N.E.2d 1190 (2008) – affirming summary judgment and denial of class certification in consumer fraud case against client
  • Goodrich & Pennington Mortg. Fund, Inc. v. Advanta Mortg. Corp., 2007 WL 4385225 (Cal. App. 1 Dist. Dec. 17, 2007) – affirming judgment confirming arbitration award, including award of attorneys' fees, in favor of client on claims of fraud and breach of contract in connection with client’s subprime mortgage securitization program
  • McCullough v. Goodrich & Pennington Mortg. Fund, Inc., et al., 373 S.C. 43, 644 S.E.2d 43 (2007) – answering certified question on existence of cause of action for negligent impairment of collateral resulting in dismissal of federal court action against client
  • Chase Manhattan Mtge. Corp. v. Advanta Corp., 2005 U.S. Dist. LEXIS 19374 (Sept. 8, 2005) – rejecting $90 million fraud claim against client in connection with client’s sale of its subprime mortgage business
  • Merit v. Feuer, 201 F.R.D. 382 (E.D. Pa. 2001) – granting motion to compel in favor of client and ruling on the proper designation of documents as highly confidential subject to attorneys' eyes-only inspection in case involving fraud and breach of contract in connection with corporate M&A transaction
  • In re: Advanta Corp. Securities Litig., 180 F.3d 525 (3d Cir. 1999) – affirming dismissal of securities fraud claim against client in a case of first impression in the Third Circuit Court of Appeals on the pleading standard of the 1995 Private Securities Litigation Reform Act

Professional Activities

American Bar Association

Pennsylvania Bar Association

American Inns of Court

Ballard Spahr's Diversity and Inclusion Council

Law and Policy in International Business Journal, past Staff Member

Recognition & Accomplishments

The Best Lawyers in America, commercial litigation, intellectual property litigation, patent litigation, and securities litigation, 2011-2020

Selected as one of The Legal Intelligencer's "Diverse Attorneys of the Year," 2013

Publications

Co-author, "Damage in ERISA Stock Drop Cases: Drop Preconceived Notions," Bloomberg BNA Benefit Practitioners' Strategy Guide, February 2015

Co-author, "Pennsylvania's Strong Protections for Corporate Boards," Insights Magazine: Corporate Governance, February 2012

Co-author, "Crouching Tiger, Hidden Fraud," Financial Fraud Law Report, September 2011

Co-author, "Fraud Prevalent in Reverse Merger Companies with Operations in China," BoardMember.com, July 8, 2011

Co-author, "SEC Issues Investor Bulletin about 'Reverse Merger' Companies," Ballard Spahr Securities Alert, June 14, 2011

Co-author, "Drop Preconceived Notions: Outlook on Damage in ERISA Stock Drop Cases," Pension & Benefits Daily, June 22, 2010, and July 26, 2011

Georgetown University Law Center (J.D., cum laude, 1995)

North Carolina State University (B.S., summa cum laude, electrical and computer engineering 1991)

North Carolina

Pennsylvania

U.S. District Court for the Eastern District of Pennsylvania

U.S. Court of Appeals for the Third Circuit

U.S. Patent Bar