May 24, 2017
Stewart L. McDowell
See more on Stewart L. McDowellGibson, Dunn & Crutcher LLP San Francisco
McDowell's name has caused confusion. "I still haven't gotten an adequate explanation from my parents," she laughed. "People who haven't met me still suppose I'm a man. My middle name is Laughlin, so that's no help. But I don't see it as a disadvantage. It makes people question their assumptions."
McDowell is a member of Gibson Dunn's corporate transactions practice group and co-chair of its capital markets practice group. Recent client deals include Intel Corp.'s $7 billion senior note offering, T-Mobile USA's $2 billion note offering and The Rubicon Project in its $100 million initial public offering.
"I'm a little bit of a deal junkie," she said. "I like to help companies, and this firm is a great, collegial place to practice."
When Santa Clara-based Marvell Technology Group Inc.'s outside auditors resigned in late 2015 amid questions about management oversight, the $5 billion semiconductor company's stock plunged. McDowell advised on how it could navigate the crisis. An immediate problem was that while the chip maker's audit committee was investigating, it was unable to comply with its Securities and Exchange Commission reporting obligations. McDowell aided in addressing the delinquent filings and successfully avoided Marvell's delisting from the Nasdaq exchange.
During that period, activist investor Starboard Value LP acquired a position in Marvell, and McDowell and Gibson Dunn advised its client on its settlement with Starboard. "It was certainly a negotiated settlement and the board considered it carefully before entering into the settlement," she said. "It was a successful resolution."
McDowell and Gibson Dunn advised Marvell on significant revisions to its bylaws in connection with its most recent annual general meeting, including adoption of proxy access. McDowell continues to advise Marvell as it has successfully moved past these issues with a newly reconstituted board of directors and a new management team.
"I'm happy to say we are back," she said of her client. "It's not unusual for deals to have some aspect of crisis management. It happens even in companies with the best of intentions."
When companies go public, McDowell likes to be involved. "I have a soft spot for IPOs," she said. "You learn a lot about a company, and they're like your child ever after."
McDowell loves to ski, and dealmaking sometimes follows her to the slopes. "It's been a good season," she said. "I've found that the members' locker room at Squaw is a good place to take calls."
— John Roemer
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