Angela M. Liu
Partner | Chicago | New York
Angela M. Liu

Angela M. Liu is a high-stakes securities litigation partner in the firm’s litigation practice group, where she focuses on securities class actions, derivative suits, M&A litigation, investigations, and corporate governance disputes. 

Ms. Liu’s legal expertise, business acumen, and easy communication with boards of directors, C-suite executives, and all levels of employees comes from her broad experience across industries. She leverages her communication style and attention to detail, whether preparing a star witness for intensive testimony or distilling highly technical legalese and nuanced stories into persuasive, winning trial and appellate arguments in courts around the country.

Ms. Liu was recently listed in Chambers USA band 2 for securities litigation in 2024, where she was described as “a smart, capable and practical litigator.” She has also been recognized by Legal 500 for her outstanding work in M&A defense litigation and securities litigation, and Diversity Journal’s first-ever "Asian Leaders Worth Watching.” Ms. Liu was named a “Working Mother of the Year” in 2023 by Seramount (formerly Working Mother) for securing professional success while maintaining a sustainable work/life balance.

Over the past decade, Ms. Liu has also been on the front lines of high impact pro bono cases and has worked with the ACLU Voting Rights Project to challenge restrictive voting laws in Wisconsin, Kansas, Georgia, Tennessee, and Arkansas. She has also addressed the Human Rights Council at the United Nations in Geneva and human rights mission in the Balkans with the Advocates for Human Rights.

Ms. Liu also meaningfully contributes to the legal community as co-chair of the firm’s Diversity Equity and Inclusion Committee, implementing firmwide initiatives supporting diversity and inclusion. She has also served as co-chair of the firm’s Asian Affinity Group and serves as a member of the firmwide Innovation and Hiring Committees. She is also a founding member of the Women in Securities Litigation Network.

Prior to joining Dechert, Ms. Liu clerked for the Honorable John R. Gibson of the United States Court of Appeals for the Eighth Circuit. 

An avid Tar Heel fan and alum, Ms. Liu serves on the UNC Law Foundation Board, the UNC Law Alumni Association Board, and as a partner to the Morehead-Cain Scholarship Foundation.

  • Defended directors of a business development company in class action lawsuits in multiple jurisdictions, alleging breaches of fiduciary duty due to purported conflicts of interest.
  • Representation of global technology company in multiple federal actions, including class actions, that involve cutting edge immunity issues under Section 230 of the Communications Decency Act for content sharing platforms that host material created and uploaded by third parties.
  • Representation of life sciences company and its directors and officers in a securities fraud class action alleging false and misleading statements related to New Drug Application submissions to the FDA, and in a consolidated shareholder derivative lawsuit alleging breaches of fiduciary duties, abuse of control, and waste of corporate assets.
  • Representation of former chairman and CEO in a securities class action in the Southern District of New York, an investigation by the New York Attorney General, and Delaware Court of Chancery class actions, involving allegations of misconduct, with all cases successfully settled without contribution from the client.
  • Representation of Chinese-based technology company in securities class action in the Southern District of New York.
  • Representation of fintech company and its officers and directors in securities class action and derivative suits in the Eastern District of New York. 
  • Representation of former CFO of non-U.S. pharmaceutical company relating to tax issues in securities class action in the Southern District of New York.
  • Representation of life sciences company in securities class action and derivative litigation relating to disclosure of FDA developments in the District of New Jersey.
  • Representation of board of directors of a credit card company in defense of derivative litigation in the Northern District of Illinois.
  • Representation of bio-pharmaceutical companies and their officers and directors in securities class action and derivative suits in the Southern District of New York and Southern District of Indiana.
  • Representation of a chemical product manufacturer and its officers and directors in securities class action suit in the Southern District of New York.
  • Representation of renewable energy company and certain directors and officers in securities class action and related derivative actions alleging misrepresentations regarding company’s technology.
  • Representation of board of directors of Chinese-based company in connection with a derivative action and merger litigation in the District of Delaware.
  • Representation of CEO of leading provider of cloud based HR solutions in connection for breaches of fiduciary duty in Delaware Chancery Court.
  • Representation of former CFO of large shipping company in defense in SEC investigation.
  • Representation of special litigation committee of large oil and gas company in derivative litigation.

Pro Bono

  • Filed amicus brief in Alexander v. South Carolina Conference of the NAACP on behalf of political science professors who study, publish on, and testify regarding voting rights and redistricting in the United States Supreme Court.
  • Filed amicus brief in Moore v. Harper on behalf of law professors whose research focuses on democracy and race in the United States Supreme Court.
  • Representation of certain plaintiffs in expedited proceedings in Tennessee that resulted in expanded access to mail-in voting in light of the COVID-19 pandemic and argued before the Tennessee Supreme Court. 
  • Representation at trial, 10th Circuit, and U.S. Supreme court in one of the “most important voting rights trial so far of the 21st century”, challenging the voting registration laws in Kansas.  
  • Representation of certain plaintiffs at trial, in the Seventh Circuit, and in the U.S. Supreme Court in litigation challenging the voter ID laws in Wisconsin. 
  • Securities Law in Focus: A Look Ahead at the Shaping Litigation Trends in 2024 — The Knowledge Group (February 20, 2024)
  • The Tracing Requirement in Securities Act Cases in Light of the Supreme Court’s Slack Decision — ABA Securities Litigation Committee (September 7, 2023)
  • fintechNEXT Webinar Series: Cryptocurrency Securities Class Action Litigation — 2022 Year Review (April 25, 2023)
  • Securities Litigation, the SEC Rulemaking, and Crypto Markets – Women in Securities Litigation Network Expert Panel (February 2023)
  • Case Study: Innovation Training — Law Firm Innovation Summit Virtual Conference (November 9, 2021)
  • The Ever Shifting Landscape of Special Purpose Acquisition Companies (SPAC) — ACC NY Webinar (April 27, 2021)
  • Recent Developments: Securities Fraud Actions Against Life Sciences Companies - Webinar (March 4, 2021)
  • NACD Advanced Director Professionalism — A Price Worth Paying – Chicago, IL (June 18, 2019)
  • Risk Management and Recent Trends in Securities Fraud Litigation Against Life Sciences Companies — Professional Liability Underwriting Society (April 2019)
  • A Term in Review: An Overview of Key Supreme Court Decisions from the 2015 Term & Thoughts about the Upcoming Term (November 29, 2016)
  • Tipping the Scales: A Women in Law Symposium — Women in Law, Chapel Hill, NC (March 22, 2016)
  • SCOTUS: Pure Omissions Are Not Actionable Under Rule 10b-5 Dechert OnPoint (April 2023)
  • Developments in Securities Fraud Class Actions Against U.S. Life Sciences Companies — Dechert OnPoint (April 2023)
  • Cryptocurrency Securities Class Action Litigation: 2023 Year in Review — The Review of Securities & Commodities Regulation (April 10, 2024)
  • Crypto Securities Class Action Filings Will Follow Market Trends Bloomberg Law (March 14, 2024)
  • Securities and Derivative Litigation: Quarterly Update (July 25, 2023)
  • Delaware Court of Chancery Cuts “Merger Taxes” by Holding Supplemental Disclosures Must Be Material to Warrant a Mootness Fee — Dechert OnPoint (July 2023)
  • Securities and Derivative Litigation: Quarterly Update (May 09, 2023)
  • 2022 Developments in U.S. Securities Fraud Class Actions Against Non-U.S. Issuers — Harvard Law School Forum on Corporate Governance (April 12, 2023)
  • 2022 Developments in U.S. Securities Fraud Class Actions Against U.S. Life Sciences Companies — Harvard Law School Forum on Corporate Governance (March 20, 2023)
  • How Deeper Dialogues Among Women Can Bolster Diversity and Inclusion — American Bar Association (July 21, 2021)
  • Recent Trends in US Securities and Derivative Litigation — Financier Worldwide (June 1, 2021)
  • 2020 Developments in Securities Fraud Class Actions Against Non-U.S. Issuers — Harvard Law School Forum on Corporate Governance (March 23, 2021)
  • What Was Up With All the Securities Class Actions Targeting Non-U.S. Issuers Last Year? — Law.com (March 15, 2021) 
  • Mitigating Risk Amid Layoff-Driven Confidential Witness Boom — LAW360 (March 10, 2021)
  • Non-U.S. Issuers Targeted in Securities Class Action Lawsuits Filed in the United States — Harvard Law School Forum on Corporate Governance (March 29, 2020)
  • How I Made Partner: Dechert's Angela Liu  Law.com (February 20, 2020) 
  • Global Securities Litigation Trends — Harvard Law School Forum on Corporate Governance and Financial Regulation (July 29, 2019) 
  • Recent Trends in Off-Shore Targeted US Class Actions — Harvard Law School Forum on Corporate Governance and Financial Regulation (April 30, 2019)
  • INSIGHT: Life Sciences Companies Targeted in Securities Class Actions (March 8, 2019)
  • A New Era in Global Securities Litigation: Parts 1-4 — Law 360 (February 16, 2018) 
  • Guard Attorney-Client Privilege When Sharing Legal Advice — Law 360 (October 5, 2017)
  • The Devil is in the Details: A Litigator's 5 Tips for Drafting Board Minutes — Corporate Counsel (January 26, 2017)
  • Delaware Courts Update:  Supreme Court Issues Decision on Exculpatory Clauses — Wall Street Lawyer (June 2015)
Services
    • The University of North Carolina at Chapel Hill, B.A., 2004, Highest Honors, Phi Beta Kappa, Morehead Scholar
    • University of North Carolina School of Law, J.D., 2009, Editor in Chief of the North Carolina Journal of International Law & Commercial Regulation
    • Illinois
    • New York
    • Supreme Court of the United States
    • United States Court of Appeals for the Seventh Circuit
    • United States Court of Appeals for the Eighth Circuit
    • United States Court of Appeals for the Tenth Circuit
    • United States District Court for the Eastern District of Wisconsin
    • United States District Court for the Northern District of Illinois
    • United States District Court for the Eastern District of New York
    • United States District Court for the Southern District of New York
    • United States District Court for the District of Colorado
    • Board of Directors - UNC Law Foundation, Inc. 
    • Leadership Council on Legal Diversity – 2018 Fellow
    • Law Alumni Association Board Member – UNC School of Law
    • National Asian Pacific American Bar Association
    • Planning Committee, ABA Judicial Division Bench & Bar Academy
    • Law360's Securities Litigation Editorial Advisory Board (2020)
    • United States Court of Appeals for the Eighth Circuit, Honorable John R. Gibson