Peter L. Welsh




  • JD, cum laude, The University of Chicago Law School, 1999
  • MA, Boston College, 1996
  • AB, The University of Chicago, 1991


  • New York, 2015
  • Massachusetts, 1999

Court Admissions

  • U.S. Court of Appeals for the First Circuit
  • U.S. Court of Appeals for the Second Circuit
  • U.S. District Court for the District of Massachusetts
  • Chairman, Directors and Officers Liability Litigation Committee of the American Bar Association
  • Member, ABA Business Law Section’s Task Force on Director and Officer Liability and Indemnification
  • The Best Lawyers in America (2021)
  • Legal 500 (2017-2018, 2020)
  • Chambers USA: America's Leading Lawyers for Business (2015-2020)
  • Financial Times “U.S. Innovative Lawyer” (2012)
  • Massachusetts Super Lawyers (2014-2020)
  • Massachusetts Super Lawyers Rising Star (2005-2009)

Peter L. Welsh


Peter is co-head of the firm’s corporate and securities litigation practice, where he focuses his practice on the areas of transactional and securities litigation as well as government enforcement, corporate governance, and director and officer representations. Highly experienced at guiding public companies, directors and officers and investment management firms (including private equity, hedge and venture capital funds as well as university endowments) through high stakes litigation and complex corporate governance and transactional matters, Peter regularly represents such clients in all manners of litigation, pre-litigation, and regulatory matters.

Peter is an experienced advocate who has litigated several contested merger transactions, including strategic, financial, and going-private transactions. In addition, he frequently handles complex securities and corporate litigation matters, including representation of the directors and officers of public companies in securities class actions and breach of fiduciary duty actions. Peter has also handled a range of regulatory investigations, including investigations by the Securities and Exchange Commission, Department of Justice, and a number of state governments.

A trusted counselor, Peter advises boards of directors and board committees on mergers and acquisitions and other strategic alternatives, as well as related-party transactions, internal investigations, and litigation. Peter is also the head of a litigation risk management practice within the firm that is the leading global practice at structuring customized, complex insurance solutions for much of the private equity industry, where he also regularly advises hedge fund and mutual fund clients on indemnification and general partner liability insurance matters.


  • Elliott Management Corp.: Trial counsel representing Elliott and several affiliated investment funds in expedited bankruptcy litigations that center on Energy Future Holdings’ multiple attempts to sell their interest in Oncor, a regulated utility company in Texas, and emerge from long-running Chapter 11 bankruptcy. Secured extremely favorable decisions in connection with two contested transactions, which ultimately paved the way for a topping bid that provided creditors with significantly higher recoveries.
  • Public Life Sciences Company: Lead counsel for publicly traded life sciences company in defense of breach of contract claim and other claims by an alleged broker claiming an oral agreement with the public company allegedly to receive 10% of the company’s equity value. Successfully obtained complete dismissal with prejudice of all of plaintiff’s claims following briefing and argument on defendants’ motion to dismiss on the pleadings.
  • LINN Energy, LLC: Trial counsel for the Official Committee of Unsecured Creditors of LINN Energy, LLC, an independent oil and natural gas production company, in contested and expedited trial proceedings in Chapter 11 case in the Southern District of Texas.
  • EZCORP, Inc.: Secured complete dismissal of three former independent outside directors of EZCORP, Inc. in a derivative action alleging that they breached their fiduciary duties by entering into contracts with a consulting firm owned by the company’s controlling shareholder. One of the first cases to be argued following the decision by the Delaware Supreme Court in the seminal case In re Cornerstone Therapeutics Inc. regarding the pleading requirements for non-exculpated breaches of fiduciary duty.
  • Special Committee of Affiliated Computer Services: Part of deal and trial team that successfully represented the Special Committee of Affiliated Computer Services in the $6 billion acquisition of ACS by Xerox Corporation. Successfully represented Special Committee in numerous shareholder actions in Delaware and Texas.
  • Demoulas Supermarkets: Part of the litigation team that represented a special committee of Demoulas Supermarkets' Board of Directors (owners and operators of supermarket chain Market Basket). Helped guide the committee through a highly complex and contested transaction valued at $2 billion, which received widespread and long-standing national media attention. As part of this effort, represented the chairman of the board against a motion for preliminary injunction challenging his independence and seeking to enjoin a $300 million dividend by the Board. Successfully opposed preliminary injunction motion and moved to dismiss the complaint, ultimately allowing Ropes & Gray’s client to continue serving as chairman of the board.
  • OTK Associates, LLC: Lead trial counsel representing OTK Associates, LLC in shareholder litigation against Morgans Hotel Group before the Delaware Court of Chancery. Successfully secured an injunction for our client, a significant shareholder of Morgans, requiring the Company to reinstate a record date and annual meeting date and prohibiting the Company from moving forward with a strategic transaction until approved pursuant to a proper process.
  • Public Company Appraisal Litigation: Have represented several public companies in appraisal claims and litigation in the Delaware Court of Chancery arising out of public M&A transactions.
  • Major University Endowments: Lead litigation counsel in litigation in California and Delaware involving a real estate joint venture and a real estate project recapitalization. Orchestrated a litigation strategy across multiple jurisdictions that achieved a very favorable settlement for our client.
  • Large international investment company: Successfully represented a large international investment company in shareholder litigation arising out of the bankruptcy of one of its portfolio companies within weeks of making a $10 million investment. Recovered 90% of the investment in the portfolio company.
  • BioForm Medical: Successfully represented BioForm in shareholder litigation in California arising out of the acquisition of BioForm by Merz, GMBH. Successfully opposed a motion for preliminary injunction and merger closed. Structured novel post-closing settlement involving earn-out to test plaintiff’s Revlon allegations.
  • Keurig Green Mountain: Successfully represented Keurig Green Mountain in shareholder litigation arising out of the acquisition of Diedrich Coffee. Succeeded in opposing plaintiffs’ motion for expedited discovery allowing transaction to close on schedule.
  • Genzyme Corporation: Represented Genzyme before the First Circuit involving a coverage dispute with its directors and officers liability insurer, Federal Insurance Company. In the action, Genzyme sought to recover the amount of a shareholder class action settlement arising from the cancellation of the company’s tracking stock in a share exchange. The district court initially dismissed the action, but the First Circuit reversed the dismissal of Genzyme’s complaint against Federal and remanded the action to the district court for an award of damages in Genzyme’s favor.
  • M&A Advice: Advise numerous private equity sponsors and public and private companies concerning fiduciary duties and transaction process in financial and strategic transactions.
  • Director and Officer and General Partnership Liability Insurance Advice: Part of nationally-recognized practice advising dozens of private equity sponsors, hedge fund and mutual fund complexes, and public and private companies on their professional liability and transactional risk insurance coverage and contractual indemnification protections.



  • Speaker, National Association of College and University Attorneys 2016 Annual Conference (June 2016)
  • Presenter, “Rep and Warranties Insurance – Future or Fad?” Ropes & Gray Webinar (November 2014)
  • Participant, “Options for Directors in M&A Litigation,” Corporate Disputes Roundtable Q&A (February 2014)
  • Panelist, “Navigating the Dodd-Frank Minefield,” New York Law Journal Panel (June 2012)
  • Presenter, “What Private Equity Sponsors Need to Know About D&O Insurance,” Ropes & Gray Webinar (May 2012)
  • Panelist, “Issues in Risk Management for Hedge Fund Management Companies: Insurance and Social Media,” Ropes & Gray Panel Discussion (October 2011)
  • Moderator, “Current CFTC Enforcement Issues – A Discussion with CFTC Director of Enforcement David Meister,” Washington D.C. Bar, Washington, D.C. (July 2011)
  • Panelist, “Corporate Developments Arising Out of the Financial Crisis,” Northwestern Law’s 48th Annual Corporate Counsel Institute, Chicago (October 2009)
  • Co-chair, “Shareholder Liability: Piercing the Corporate Veil and Beyond,” Massachusetts Continuing Legal Education, (May 2009)
  • Panelist, “Hedge Funds and the Credit Crisis: Pricing, Modeling and Valuation Impacts,” Joint Ropes & Gray and Deloitte Client Conference, New York (April 2008)
  • JD, cum laude, The University of Chicago Law School, 1999
  • MA, Boston College, 1996
  • AB, The University of Chicago, 1991
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