O’Melveny Worldwide

ACCOLADES

Ranked Band 3 in Chambers USA 2023, California Litigation


“Matthew is the best lawyer I've worked with in terms of client relations, responsiveness, legal expertise and outcomes.”
—Client Testimonial

Matthew Close, firmwide Co-Chair of the Securities Litigation Practice, represents corporations, directors, executives, underwriters, and financial advisors in securities, derivative, corporate governance, and fiduciary duty litigation, as well as in government and special committee investigations. Matt also litigates commercial disputes, consumer class actions, and unfair competition actions, including recently trying three arbitrations where his clients obtained complete victories. 


Chambers USA, ranks Matt as a leading securities litigator in California, and has described him as “spectacular” and a “trusted advisor” who is “incredibly experienced in the securities field.” It quotes a client describing Matt as “the best lawyer I've worked with in terms of client relations, responsiveness, legal expertise and outcomes.” Law360 and The Legal 500 US recognized Matt’s “deep commitment to his clients” and BTI Consulting Group named him a “Client Service All-Star” in its annual survey of in-house counsel. Euromoney’s Benchmark Litigation recognizes him as a “California - Litigation Star.”


Matt has served on the Firm’s Board of Directors, known as the Policy Committee, where he was the Lead Director, and Matt formerly chaired the Firm’s Partner Admissions Committee. Outside of O’Melveny, Matt serves on the Board of the Ninth Judicial Circuit Historical Society, was a Lawyer Representative for the Ninth Circuit Judicial Conference and is a Past President of the Federal Bar Association’s Los Angeles Chapter.

Securities, Derivative, Fiduciary Duty and M&A

  • Lead counsel in successful defense of a decade-long, multibillion euro securities fraud, RICO, and mismanagement dispute with claims asserted in four different states and three different countries arising from the bankruptcy of a publicly held European joint venture company 
  • Lead counsel to Chief Executive Officer and ten other corporate officers in obtaining dismissals of securities class action and derivative litigation filed following environmental incident, including guidance on public relations and investor messaging
  • Lead counsel in Chancery Court litigation challenging Delaware public company’s reincorporation in Nevada 
  • Obtained dismissal with prejudice and waiver of appeal as lead counsel for semiconductor company and its officers in securities class action arising from data security disclosures
  • Counsel to outside directors following high-profile bank failure and ongoing FDIC investigation, including guidance on public relations and investor messaging
  • Lead counsel for space infrastructure company in federal court SEC Rule 10b-5 securities class action and state court Section 11 securities class action
  • Lead counsel in successful defense of SEC Rule 10b-5 securities class action claims filed against global video and ecommerce retailer
  • Lead counsel for special committee of public company board charged with reviewing misconduct allegations against founder
  • Advising several public company boards on governance matters on issues ranging from succession planning to financial distress, including guidance on public relations and investor messaging
  • Obtained dismissal with prejudice and waiver of appeal in federal court SEC Rule 10b-5 securities class action and state court Section 11 class action against REIT and its officers following loan impairments
  • Lead counsel in defense of class actions filed under Section 11 and SEC Rule 10b-5, as well as state law derivative claims, filed in four different jurisdictions against leading global real estate and investment management firm and its officers and directors
  • Lead counsel for technology company in connection with formal SEC investigation into sales practices and revenue recognition concluding with no SEC action
  • Lead counsel for healthcare company employees in connection with formal SEC investigation, concluding with no SEC action
  • Lead counsel for mobile phone provider and its directors in pending class actions filed under Section 11 in state and federal court
  • Lead counsel for publicly traded REIT and its directors in class action filed in state court under Section 11
  • As lead counsel, successfully persuaded SEC to close investigation into public company's risk disclosures and accounting practices without taking testimony or subpoenaing documents
  • Lead defense counsel in pending California state court class action under the Securities Act of 1933, and related derivative lawsuit, filed against semiconductor equipment manufacturer and its directors
  • Lead counsel for telecommunications company in connection with formal SEC investigation into revenue disclosures, concluding with no SEC action
  • Defense counsel for underwriters in multiple California state court class actions under the Securities Act of 1933, including actions dismissed for forum non conveniens and stayed in deference to parallel federal court proceedings
  • Lead counsel in obtaining dismissal of federal court claims alleging that a telecommunications company aided and abetted breaches of fiduciary duty and accounting fraud 
  • Lead counsel for buyers, sellers and financial advisors in defeating numerous actions seeking to enjoin tender offers and mergers including cases in Delaware Chancery Court and federal and state courts nationwide
  • Lead counsel for buyers, sellers and financial advisors in obtaining dismissals of post-closing damages claims following mergers and acquisitions
  • Lead litigation counsel for a Special Committee in defeating motions to enjoin a going-private transaction
  • Lead litigation counsel in obtaining dismissals of multi-forum litigation for an electronic components company and its board of directors in connection with US$1 billion sale to foreign buyer
  • Lead counsel to a semiconductor company in SEC Rule 10b-5 securities fraud class action litigation that was dismissed without discovery
  • Lead counsel in obtaining dismissal of SEC Rule 10b-5 securities fraud class action litigation against premium cable and satellite television network
  • Lead counsel in obtaining dismissal of SEC Rule 10b-5 securities fraud class action litigation against server and storage networking company
  • Lead litigation counsel for an agricultural company in successful defense of securities and breach of duty litigation in Delaware arising from going-private transaction
  • Lead counsel for a public semiconductor company and senior executive officers in connection with persuading the SEC to close its investigation into officer stock sales
  • Lead counsel for a hedge fund in obtaining dismissal of a Section 16(b) short-swing profit lawsuit filed in the Northern District of California
  • Lead counsel for a consumer electronics company Audit Committee chairman in securities and derivative litigation
  • Lead counsel for a global entertainment company in a post-acquisition dispute with selling shareholders
  • Counsel to a telecommunications company in securities litigation arising from a US$20 billion strategic merger
  • Obtained numerous victories on motions to dismiss in multidistrict litigation alleging successor liability claims arising from post-merger asset sale transactions
  • Counsel to a public company in a government investigation related to the well-publicized "FIN4" cyber-hacking and insider trading ring 
  • Represented a Special Litigation Committee of a consumer electronics company in its internal investigation and successful motion to dismiss derivative claims
  • Counsel in successful defense of a telecommunications company against securities fraud claims arising from its debt exchange offer
  • Advised Audit Committee of a semiconductor company in connection with securities litigation and a parallel SEC investigation concluding with no SEC action
  • Represented a sporting goods company in persuading law enforcement that fraud allegations made by selling shareholders were without merit
  • Successfully defended a company accused of using false financial statements to induce a US$1.5 billion asset sale
  • Obtained dismissals for an Executive Vice President of a Fortune 50 technology company in connection with securities fraud and derivative litigation arising from the US$10 billion acquisition of a foreign public company and subsequent impairment charges

Financial Services

  • Lead counsel for a mortgage servicing company that obtained dismissals with prejudice of multiple federal court class actions challenging loan servicing practices and disclosures
  • Lead counsel for a national bank in federal court class actions challenging overdraft and other deposit account fees
  • Trial counsel for asset manager who prevailed in arbitration against former partners over fair market value of repurchased partnership interests
  • Counsel for a national bank in multiple Attorney General lawsuits and private class actions challenging mortgage servicing practices
  • Lead counsel for a commodity trading company during an Attorney General investigation into unfair competition allegations
  • Coordinating counsel for a national mortgage servicer in connection with the development, coordination, and implementation of federal and constitutional defenses to state laws limiting foreclosure rights
  • Defense counsel for a bank in numerous cases filed by RMBS investors, including multidistrict litigation proceedings in the Central District of California
  • Counsel for RMBS investor in successful litigation against monoline insurer
  • Counsel to a bank holding company in connection with government inquiries into mortgage-backed securitizations
  • Lead counsel for a corporate pension plan defrauded in a Ponzi scheme, including guidance on crisis management and messaging to plan participants
  • Lead counsel for an international finance company in dispute with project developers
  • Counsel for a leading financial industry trade group and mortgage servicer in connection with municipal proposals to seize mortgages through eminent domain, including guidance on public relations and industry-specific messaging

Commercial and Consumer

  • Advising a sports media company in strategic communications, incident preparedness, and commercial disputes with ticketholders and vendors
  • Lead counsel for global hospitality and lodging company in connection with consumer claims arising from COVID‑19
  • As trial counsel for a skincare company, obtained a complete victory following a two-week arbitration hearing in a contract and trademark dispute with its competitor
  • Lead trial counsel for an electronics company in the successful prosecution of a fraud claim that resulted in a judgment for the full amount of the claimed damages
  • Lead defense counsel for national law firm for claims of "client poaching" and false advertising, including guidance on public relations and crisis management
  • Counsel to a health insurance company in a provider's federal class action suit challenging claims handling practices
  • Counsel to a managed care company in an out-of-network provider mass action in the Central District of California challenging claims payment practices under ERISA
  • Counsel to a medical device manufacturer in false advertising and unfair competition litigation, product liability class actions, and license disputes

Real Estate

  • Lead trial counsel for luxury mobilehome park owner who obtained a multi-million dollar jury verdict against a municipality for a regulatory taking under the principles established by the Supreme Court in Penn Central Transportation Co. v. New York City, 438 U.S. 104 (1978)
  • Trial counsel for a major studio that prevailed at arbitration in a lease and termination fee dispute
  • Lead counsel for multiple REITs and real estate investment managers in stockholder disputes in federal and state courts in California and Maryland
  • Lead appellate counsel for property owners in land use and takings litigation
  • Lead litigation counsel for an operator of a solar energy project
  • Obtained summary judgment for a national retail chain sued in a multimillion dollar real estate lease and purchase agreement dispute

Admissions

Bar Admissions

  • California

Court Admissions

  • US District Court for the Central, Southern, and Northern Districts of California; the Eastern District of Michigan; and the District of Colorado
  • US Court of Appeals for the Fourth, Ninth, and Eleventh Circuits

Education

  • University of California at Berkeley, J.D.: Order of the Coif
  • University of Pennsylvania, Wharton School, B.S.: magna cum laude

Honors & Awards

  • Recommended by The Legal 500 US for General Commercial Disputes, Securities Litigation: Defense, and Transport: Aviation and Air Travel 
  • Ranked by Chambers USA as a leading lawyer for Litigation: Securities 
  • Named a California - Litigation Star (2019, 2021, 2023-2024), Litigation Star (2024) and Local Litigation Star (2019-2021, 2023) for General Commercial & Securities by Benchmark Litigation
  • Recognized by Best Lawyers for Litigation: Securities (2023)
  • Recognized by BTI Consulting Group as a “Client Service All-Star”
  • Recipient of the Warren Christopher Values Award for exemplifying O’Melveny’s values of uncompromising excellence, distinctive leadership, and superior citizenship (2020)
  • Recipient of a “Distinguished Legal Writing Award” by the Burton Awards for Legal Achievement, run in conjunction with the Library of Congress

Professional Activities

Clerkships

  • Honorable Mariana R. Pfaelzer, U.S. District Court for the Central District of California

Leadership

  • Lawyer Representative, Ninth Circuit Judicial Conference (2017-2023)
  • Federal Bar Association, Los Angeles Chapter (President 2016-2017; Executive Committee 2014-2017; and Board of Directors, 2011-Present) 
  • Ninth Judicial Circuit Historical Society (Board of Directors 2023-Present; Advisory Council 2020-2022)
  • Standing Committee on Discipline, United States District Court for the Central District of California (Member: 2020-Present)
  • Executive Committee of the Los Angeles County Bar Association’s Litigation Section (2015)
  • Los Angeles County Bar Association, Appellate Courts Committee (2010-2020)
  • Member, International Association of Defense Counsel (2019-2023)

Co-Author

Speaker

  • Podcast, “SCOTUS DIG Deepens Uncertainty over Shareholder Suits,” The Daily Journal (April 26, 2019)
  • Moderator, “Ethics: Preserving the Attorney-Client Privilege in Transactions and Internal Investigations,” Los Angeles County Bar Association Securities Regulation Seminar (October 19, 2018)