Hille R. Sheppard

HILLE SHEPPARD co-leads Sidley’s global securities and shareholder litigation practice. During nearly 25 years at Sidley, Hille has firmly established herself as one of the nation’s top securities litigators, and in April 2016 she was named by Law360 as one of the 25 Most Influential Women in Securities Law and was profiled in that publication on July 22, 2016. She is the only woman in Illinois to be ranked by Chambers for securities litigation (2019).

Hille’s practice focuses on defending companies and their officers and directors in high-stakes securities class actions, shareholder derivative litigation and commercial disputes, as well as M&A transactions. She also has extensive experience with SEC investigations and enforcement proceedings, shareholder demands and investigations. Many of Hille’s cases arise from business challenges, such as underlying government enforcement actions or events that have resulted in negative publicity and financial impacts, and many involve complex accounting issues, including restatements, the recording of impairment charges, changes to guidance, accounting for loan loss reserves, revenue recognition and internal controls. Although she has worked across a wide range of industries, she has handled numerous cases for life sciences companies, financial institutions, insurance companies and accounting firms. Hille also regularly counsels many clients concerning potential exposures, indemnification and how best to position themselves for litigation.

Hille’s recent representations include the following:

• Co-lead lawyer representing Board of Directors of money transfer company in shareholder derivative litigation in the District of Colorado challenging AML compliance. Dismissal of case affirmed by the Tenth Circuit. 
• Co-lead lawyer representing money transfer company in securities and RICO class actions filed in the District of Colorado in the wake of company’s entry into a deferred prosecution agreement. Securities case dismissed and RICO case stayed pending arbitration.
• Lead lawyer representing oncology company and its officers and directors in securities class action filed in state court following company’s IPO. Case dismissed.
• Lead lawyer representing pharmaceutical companies in RICO class action in the Northern District of Illinois challenging vial sizes. Case dismissed.
• Co-lead lawyer representing insurance company in RICO class action in the Southern District of Iowa regarding captive reinsurance transactions. Case dismissed.
• Co-lead lawyer representing credit card company in shareholder derivative litigation in the Northern District of Illinois arising from company’s consent order with regulators. Case dismissed.
• Lead lawyer representing bank in SEC enforcement action in the District of Minnesota; settlement in which bank received money approved by court.
• Lead lawyer representing former CEO and CFO of coal company in the Eastern District of Missouri in securities litigation stemming from a restatement of earnings. Dismissal of case affirmed by the Eighth Circuit.
• Lead lawyer in multiple securities cases arising from M&A transactions.
• Lead lawyer representing multiple companies in receipt of shareholder demands and books-and-records inspection demands, and as they conduct special committee investigations.
• Lead lawyer representing multiple companies and individuals in SEC investigations.

Hille is ranked by Chambers for Litigation: Securities – Illinois, which observes that Hille is “very talented and she’s the full package … thoughtful, an effective, smart lawyer” (2019). She also has been recognized by The Legal 500 in Securities: Shareholder Litigation and M&A Litigation for her “thoroughness, analytical ability and persuasiveness” (2013–2017), and by International Who’s Who Legal in Commercial Litigation as an “outstanding securities litigator” (2010). She is approved panel counsel for AIG and Chubb.