Benchmark Litigation Once Again Ranks Robbins Geller a “Highly Recommended” Plaintiffs Firm and Names Several Partners as Top Attorneys
Benchmark Litigation, compiled by the publishers of leading financial news magazines Institutional Investor and Euromoney, has once again given the Firm its highest ranking as a “Highly Recommended” plaintiffs firm in California for the 2016 edition. The Firm also received top rankings nationally and in New York. The publication praised Robbins Geller as “[o]ne of the country’s best-known plaintiff shops . . . [that] has earned recognition from peers and opponents alike” in the securities litigation field. Rankings result from the culmination of a six-month research period in which recent casework handled by the firms is examined, and sources are asked to offer their professional opinions on the attorneys practicing within their state or national practice areas.
Robbins Geller partners Randall J. Baron, Spencer A. Burkholz, Darren J. Robbins, David A. Rosenfeld and Samuel H. Rudman were ranked as top attorneys by the publication, and partners Michael J. Dowd and Luke O. Brooks were also recognized for their recent case work.
Baron, ranked as a “Litigation Star,” has worked to advance the practice of shareholder merger and acquisition litigation to achieve substantial monetary recoveries for shareholders for almost two decades. During that time, he has recovered over a billion dollars in post-close litigation. Some of this most notable cases include Kinder Morgan, Dole Foods, Del Monte and Rural/Metro.
Burkholz, named a “Local Litigation Star,” has nearly 20 years of experience in prosecuting securities class actions and private actions on behalf of large institutional investors. Benchmark noted that he “triumphed in December 2013 when a district court judge approved a settlement in which Countrywide Financial agreed to pay $500 million to settle investors’ claims that they were misled as part of Countrywide’s sale of mortgage-backed securities from 2005 to 2007.” The Countrywide case is currently the largest RMBS recovery to date. He also was part of the Robbins Geller litigation team that obtained the largest securities class action judgment of $2.46 billion against Household International (now HSBC Finance Corporation).
Robbins, ranked a “Local Litigation Star,” has served as lead counsel in more than 100 securities actions and has recovered billions of dollars for injured shareholders. He obtained $925 million in the UnitedHealth case, the largest stock option backdating recovery to date. Robbins also secured significant recoveries in a number of actions arising out of wrongdoing related to the issuance of residential mortgage-backed securities, including Countrywide ($500 million). He also served as co-lead counsel in connection with a $627 million recovery for investors in In re Wachovia Preferred Securities & Bond/Notes Litig., one of the largest credit-crisis settlements involving Securities Act claims.
Rosenfeld, ranked a “Future Star,” has been appointed as lead counsel in dozens of securities fraud lawsuits and has successfully recovered hundreds of millions of dollars for defrauded shareholders. He recently secured a settlement of $70 million in the securities class action on behalf of investors in Credit Suisse Group and was also appointed as lead counsel in the securities fraud lawsuit against First BanCorp, which provided shareholders with a $74.25 million recovery. Rosenfeld also served as lead counsel in In re Aramark Corporation Shareholders Litigation, which resulted in a $222 million increase in consideration paid to shareholders of Aramark and a dramatic reduction to management’s voting power in connection with shareholder approval of the going-private transaction (reduced from 37% to 3.5%).
Rudman, ranked a “Litigation Star” and “Local Litigation Star,” focuses his 22-year securities practice on recognizing and investigating securities fraud, and initiating securities and shareholder class actions to vindicate shareholder rights and recover shareholder losses. The publication noted that he “places among the most often-mentioned and revered active litigators in the firm’s New York capacity.” A former attorney with the U.S. Securities and Exchange Commission, Rudman has recovered hundreds of millions of dollars for shareholders, including a $200 million recovery in Motorola, a $129 million recovery in Doral Financial, an $85 million recovery in Blackstone, a $74 million recovery in First BanCorp, a $65 million recovery in Forest Labs and a $50 million recovery in TD Banknorth.
Benchmark commended Dowd for leading a team “that obtained a 2009 jury verdict following a six-week trial in the Northern District of Illinois on behalf of a class of investors . . . [and later in] October 2013, a district judge entered a judgment of $2.46 billion, . . . the largest judgment following a securities fraud class-action trial in history, against Household International . . . and three of its former top executives.” Brooks, who also served as lead counsel on the Household case with Dowd, was praised for serving “as lead counsel in concert with a team of plaintiffs that secured a $388 million recovery in July 2015 on behalf of a class of investors in nine 2007 residential mortgage-backed securities offerings issued by JPMorgan.”
The publication concluded that the Firm is “well feared by many . . . due to its active and aggressive pursuit of cases targeted at alleged corporate malfeasance amongst Manhattan's hallowed financial institutions.”