IGNACIO E. SALCEDA

Partner
Litigation

EXPERIENCE:

Ignacio Salceda is a litigation partner at Wilson Sonsini Goodrich & Rosati. Since joining the firm in 1992, Ignacio has represented companies and their officers and directors in more than 100 securities class actions, derivative suits, corporate governance litigations, and SEC and internal investigations.

CURRENT AND RECENT MATTERS:

Securities Class Actions:

  • Represented Cyan and its officers and directors in a securities class action arising from Cyan's initial public offering. The case was brought in San Francisco Superior Court. The U.S. Supreme Court ultimately granted a petition for certiorari and decided whether state courts have jurisdiction over class actions under the Securities Act of 1933.
  • Represents Snap and its officers in securities class actions in federal and state court arising from the company's initial public offering.
  • Represented Aruba Networks and its officers in a securities class action. The case was dismissed with prejudice and the dismissal was affirmed by the U.S. Court of Appeals for the Ninth Circuit.
  • Represented SolarCity and its officers and directors in a securities class action filed following a restatement of financial results. The case was dismissed with prejudice and the dismissal was affirmed by the U.S. Court of Appeals for the Ninth Circuit.
  • Represented Juno Therapeutics and its officers in a securities class action filed following clinical trial setbacks.
  • Represents Apigee and its officers and directors in securities class actions arising from Apigee's initial public offering.
  • Represented Avinger and its officers and directors in securities class actions arising from Avinger's initial public offering.
  • Represented FireEye and its officers and directors in securities class actions filed in state and federal courts. The federal action was dismissed. The state action was settled.
  • Represents WageWorks in a securities class action filed following the announcement that the company would restate its financial results.
  • Represented Fusion-io and its officers and directors in a securities class action, which was dismissed.

Derivative Actions:

  • Represented FireEye and its officers and directors in a shareholder derivative suit. The action was dismissed with prejudice.
  • Represents a for-profit education company and its officers and directors in a shareholder derivative suit related to an adverse regulatory development.
  • Represented SolarCity and its officers and directors in a shareholder derivative suit related to the restatement of financial results. The action was dismissed.
  • Represents WageWorks in derivative actions filed following the announcement that the company would restate its financial results.
  • Represented Bridgepoint Education and its officers and directors in a shareholder derivative suit related to a self-tender offer. The action was dismissed with prejudice and the dismissal affirmed by the U.S. Court of Appeals for the Ninth Circuit.

Merger Litigation:

  • Represented Cyan and its directors in merger litigation related to the company's acquisition filed in the Delaware Court of Chancery. The case was dismissed with prejudice.
  • Represented CA Inc. and its directors in merger litigation related to the company's acquisition filed in Delaware and New York.
  • Represented Broadcom Inc. and its directors in merger litigation related to the company's acquisition.
  • Represented Mindspeed Technology and its directors in merger litigation related to the company's acquisition filed in the Delaware and California.
  • Represented Fusion-io and its directors in merger litigation filed in Delaware, Utah, and California following the announcement of the company's acquisition.
  • Represented a semiconductor company in litigation arising out of two separate acquisitions of public companies.

Private Company Matters:

  • Represents the directors of a machine learning company in a suit filed by a founder and former officer, arising out of a venture capital investment and later acquisition of the company.
  • Represented the directors of an alternative energy company in a suit filed in connection with a financing by the company.
  • Represented a lead investor in connection with litigation arising from a preferred stock financing.

SEC and Internal Investigations:

  • Represented a consumer electronics company in an SEC investigation regarding revenue recognition and other accounting matters.
  • Represented a technology company in an SEC investigation related to accounting issues.
  • Represented a technology company in an SEC investigation related to its initial public offering.
  • Represented the CEO of a life sciences company in an SEC investigation related to potential insider trading.
  • Conducted an internal investigation for the audit committee of an enterprise software company regarding revenue recognition and related accounting issues.
  • Conducted an internal investigation for an enterprise software company into employee expenses, reimbursement, and related matters.
  • Conducted an internal investigation for the board of directors of a software company into related-party transactions.
CLIENTS IN OTHER REPRESENTATIONS INCLUDE:

Software companies:

  • Autodesk
  • BEA Systems
  • Critical Path
  • NetManage
  • Opsware
  • SeeBeyond Technology Corp.
  • SkillSoft
  • Sybase
  • TIBCO Software

Life sciences companies:

  • Genentech
  • Intrabiotics Pharmaceuticals
  • Nektar Therapeutics
  • Quintiles Transnational
  • Synergen

Hardware companies:

  • Dell Computer
  • Genesis Microchip
  • NetFrame
  • Silicon Graphics

Entertainment:

  • Netflix
  • Cinergi Pictures Entertainment

Investment banks and financial institutions:

  • Banc of America Securities
  • Montgomery Securities
  • Silicon Valley Bank
EDUCATION:
  • J.D., Stanford Law School, 1992
    Executive Editor, Stanford Law Review
  • B.A., Government, Harvard University, 1989
SELECT RECENT PUBLICATIONS:
  • "After Cyan: Some Prognostications," Law360, March 23, 2018
  • "Clarity on the 'Quasi-Appraisal' Remedy and Post-Closing Claims," Harvard Law School Forum on Corporate Governance and Financial Regulation, May 31, 2017
  • "Sometimes IPO 'Lock Ups' Lock Away a Key Defense," The Recorder, April 2015
  • "Supreme Court Upholds Fraud-On-The-Market Presumption in Halliburton," Harvard Law School Forum on Corporate Governance and Financial Regulation, June 24, 2014
  • "Primary Liability in the Age of Enron," Wall Street Lawyer, May 2003
  • "Shareholder and Investor Relations in the Electronic Age," chapter in Securities in the Electronic Age, Third Edition, 2002
  • "Risk Disclosures and Internet Investor Relations Pages," wallstreetlawyer.com, June 2000
ADMISSIONS:
  • State Bar of California