Michael I. Fistel Jr.

Mr. Fistel’s success in protecting investor rights in shareholder class action and derivative litigation is exemplified in Gendrich v. Anderson et al., Civil Action No. CV-2020-07-2107 (Ct. of Common Pleas, Summit Cnty., Ohio) (“FirstEnergy, Inc. Derivative Litig.”), where Johnson Fistel, serving as co-lead counsel and Mr. Fistel serving as primary negotiator on behalf of the state court plaintiffs, helped to secure a historic settlement for the benefit of FirstEnergy, a company whose fiduciaries led the Company into a political maelstrom described by the United States Attorney for the Southern District of Ohio as “likely the largest bribery, money laundering scheme ever perpetrated against the people of the state of Ohio.”  The settlement included a cash payment to the Company of $180 million (less court-approved attorneys’ fees) and substantial corporate reforms, including the agreement that six of the company’s then-directors who were on the board a minimum of five years would not stand for re-election, as well as additional reforms relating to the Company’s political spending and lobbying.  In addition, in In re: Twitter, Inc. Shareholder Derivative Litigation (n/k/a X), C.A. No. 18-062 (D. Del.), Johnson Fistel serving as co-lead counsel and Mr. Fistel serving as one of the chief negotiators, secured a $38 million payment to Twitter and successfully negotiated robust corporate reforms tailored to address alleged disclosure deficiencies concerning the company’s user growth and user engagement prospects.  Similarly, in Alex v. McCullough, et al., No. 1:12-cv-08834 (N.D. Ill.), Mr. Fistel helped to secure a $20 million recovery and sweeping management and board-level corporate governance reforms for Career Education Corporation.  Most recently, in In re ATI Physical Therapy, Inc. S’holder Deriv. Litig., Case No., 1:21-cv-06415 (N.D. Ill.), Mr. Fistel helped secure a $6.45 million recovery for ATI Physical Therapy in a complex, stockholder and derivative action which then facilitated the resolution of related class claims. Pecuniary recovery is not the only valuable consideration that can be achieved in shareholder derivative litigation.  One recent example is in In re Southern Company Shareholder Derivative Litigation, No. 1:17-cv-00725-MHC (N.D. Ga.), where following more than five years of litigation, Mr. Fistel, as one of the chief negotiators, secured reforms valued by one expert as having the potential to contribute hundreds of millions of dollars in value to the Company.  In approving the settlement, U.S. District Judge Mark H. Cohen praised Johnson Fistel for its diligence and efforts in the case and described the settlement as “the product of hard-fought, arm’s-length negotiations by prepared, skilled, and experienced counsel” who are “nationally recognized leaders in shareholder litigation.” 

Mr. Fistel has had similar success in the securities class action arena.  Specifically, in Shafer v. Lightning eMotors, Inc., et al., No. 1:21-cv-02774-RMR-KAS, a securities class action lawsuit where Johnson Fistel served as co-lead counsel, Mr. Fistel helped to secure a $13.35 million class-wide settlement despite the facts that the case was dismissed, and the company was in receivership.  In Benson v. D-Market Elektronik Hizmetler ve Ticaret Anonim Sirketi et al., Index No. 655701/2021 (N.Y. Sup. Ct. New York Cnty.), a securities class action lawsuit where Johnson Fistel also served as co-lead counsel, Mr. Fistel helped to secure a $13.9 million class-wide settlement.  Similarly, in Gerneth v. Chiasma, Inc., No. 1:16-cv-11082-DJC (D. Mass.), with Johnson Fistel serving as co-lead counsel, Mr. Fistel helped to secure an $18.75 million class-wide settlement on behalf of injured investors.  Yet another example of where Mr. Fistel serving as lead counsel for the firm, played an instrumental role in recovering money for a class of aggrieved shareholders is In Re Flowers Foods, Inc. Securities Litigation, No. 7:16-CV-00222-WLS (M.D. Ga.), where he helped secure a $21 million class settlement.

Mr. Fistel devotes his practice to representing individuals, institutions, and businesses in shareholder and other complex litigation.  Specifically, a substantial portion of Mr. Fistel’s practice is focused on representing shareholders in securities fraud class action litigation and shareholder derivative litigation.  In addition to shareholder litigation, Mr. Fistel also represents aggrieved consumers and businesses in other complex litigation arising out of financial and consumer fraud.

Mr. Fistel was admitted to the State Bar of Georgia in 2001, and is currently admitted in good standing with the following courts:

• All courts in the State of Georgia
• The Supreme Court of the United States of America
• The United States Courts of Appeals for the First, Second, Third, Fourth, Tenth, and Eleventh Circuits
• The United States District Courts for the Northern and Middle Districts of Georgia
• The United States District Court for the District of Colorado
• The United States District Court for the Northern District of Illinois
• The United States District Court for the District of Maryland
• The United States District Court for the Southern District of Indiana

Mr. Fistel has also been invited to speak at the Georgia State University School of Law in the area of corporate governance and shareholder rights and has served as an invited panelist for the Securities and Corporate Litigation Sub-Section of the Atlanta Bar Association.

For 2025, Mr. Fistel was recognized as a“Top Lawyer” for Shareholder Rights Litigation by Georgia Biz Magazine.   Additionally, since 2017, Mr. Fistel has received an AV rating with Martindale-Hubbell, which indicates very high to preeminent legal ability and very high ethical standards as established by confidential opinions from members of the Bar.  Mr. Fistel has also been recognized as a Georgia Super Lawyer—Rising Star by Atlanta Magazine on numerous occasions, an honor bestowed on just 2.5% of the attorneys in the State of Georgia.

Mr. Fistel attended New England Law in Boston, Massachusetts, earning his Juris Doctor degree in 2001.  While at New England Law, Mr. Fistel was repeatedly named to the Dean’s List and received the CALI Award for Excellence in Trial Practice and Sports Law.  Prior to attending New England Law, Mr. Fistel attended Florida State University as a Florida Undergraduate Scholar and graduated with a Bachelor of Arts degree in English.