Shelly Heyduk


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Shelly Heyduk’s practice focuses on advising public companies on a wide range of securities law and corporate governance matters, including SEC reporting and disclosure under the Securities Exchange Act of 1934, shareholder meetings and compliance with the proxy rules, and compliance with NYSE and NASDAQ corporate governance requirements, the Sarbanes-Oxley Act of 2002, and related regulations. Shelly also has significant experience advising companies with respect to securities offerings under the Securities Act of 1933. 

During her career, Shelly spent four years in-house at Western Digital Corporation, where she gained a unique understanding of the challenges facing in-house legal teams and their expectations for best-in-class service from outside counsel. 

Honors & Awards

  • Recognized as a "Notable Practitioner" by IFLR1000 in Capital Markets (2019 - 2021)


Bar Admissions

  • California


  • University of California at Los Angeles, J.D., 1999: Order of the Coif; Comments Editor, UCLA Law Review 
  • University of California at San Diego, B.S., 1996, Management Science: magna cum laude; with distinction; Phi Beta Kappa

Professional Activities


  • Orange County Bar Association
  • National Association of Real Estate Investment Trusts
  • Society for Corporate Governance

Speaking Engagements

  • Speaker, “What should we expect from the SEC’s promise of new rulemaking?” Forum For Corporate Directors, O.C. (October 20, 2021)
  • Panelist, “Everything You Always Wanted to Know About Securities Law but Were Never Given the Chance to Ask…,” Securities Regulation Institute (January 27, 2021)
  • Panelist, “Q&A with the SEC and PCAOB,” 18th Annual SEC “Hot Topics" Conference (September 2019)
  • “Corporate Governance - A New Era” Panel at the Los Angeles County Bar Association's 51st Annual Securities Regulation Seminar (October 2018)
  • “Regulation and Corporate Governance” Panel at the 16th Annual SEC “Hot Topics” Conference, a Legal and Financial Reporting Update for Public Companies (September 2017)
  • “Non-GAAP Measures & Recent Developments” Panel at the third annual UCI Audit Committee Summit (October 2016) 
  • “Regulatory and Governance” Panel at the 15th Annual SEC “Hot Topics” Conference, a Legal and Financial Reporting Update for Public Companies (September 2016)
  • Represents a broad range of public company clients with their ongoing Exchange Act reporting and compliance across a variety of industries such as aerospace products and services, airlines, banking, data storage, Internet media and advertising, management services, medical devices, semiconductors and real estate investment trusts. 
  • Provides regular specialized securities law advice to companies on a wide range of matters, including Section 16, Regulation 13D-G, Rule 144, Regulation G, Regulation FD, and Rule 10b-5. 
  • Counsels companies on shareholder meeting matters, including compliance with the proxy rules, responding to shareholder proposals and submission of no-action letters under Rule 14a-8, and responding to proxy contests for board control. 
  • Advises public and pre-public companies on corporate governance best practices. 
  • Represents issuers in connection with equity and debt offerings under the Securities Act.
  • Provides advice to companies on securities law aspects of merger and acquisition transactions, including cash and stock mergers, tender offer transactions, and going private transactions.

Press Releases

In the News

Alerts and Publications

SEC Adopts Amendments to MD&A and Financial Disclosures

December 1, 2020

ISS Releases Benchmark Policy Updates for 2021

November 23, 2020

SEC Adopts Changes to Harmonize Private Offering Exemptions

November 19, 2020

SEC Amends “Accredited Investor” and “Qualified Institutional Buyer” Definitions under the Securities Act

September 8, 2020

California Law Mandating Representation of “Underrepresented Communities” on Public Company Boards Passes California’s State Legislature

September 3, 2020

SEC Adopts Changes to Modernize Certain Disclosures Under Regulation S-K

September 2, 2020

SEC Adopts Amendments to Proxy Rules Relating to Proxy Voting Advice

August 5, 2020

SEC Adopts Amendments Related to Financial Disclosures for Acquisitions and Dispositions

June 1, 2020

SEC Adopts Amendments to Accelerated Filer and Large Accelerated Filer Definitions

April 17, 2020

NYSE Temporarily Waives Certain Shareholder Approval Requirements in Response to COVID-19

April 9, 2020

SEC Proposes Changes to Harmonize Private Offering Exemptions

March 30, 2020

SEC Extends Filing Relief and Provides Disclosure Guidance in Response to COVID-19

March 25, 2020

Delaware Supreme Court Endorses Exclusive Federal Forum Charter Provisions for Federal Securities Act Claims

March 23, 2020

Companies Should Consider Adopting Net Operating Loss Rights Plans in the Wake of the Coronavirus (COVID-19) to Protect Net Operating Losses

March 20, 2020

SEC Amends Financial Disclosure Requirements for Registered Debt Offerings

March 17, 2020

California Secretary of State Releases Updated Report on SB 826

March 3, 2020

SEC Proposes Amendments to MD&A and Financial Disclosures and Issues MD&A Interpretive Guidance

February 13, 2020