Law360 Recognizes Robbins Geller’s Recent Successes
Law360 praised Robbins Geller in its “Most Feared Plaintiffs Firm” profile for “racking up impressive trial wins and multimillion-dollar recoveries for investors” in the past year. Notably, the publication pointed out the “unprecedented” $2.46 billion judgment against Household International (now HSBC), the largest securities class action judgment in history.
Attributing the Firm’s success to its “deep bench of talented lawyers and staff as well as its ability to invest substantial resources in its cases,” founding partner Paul J. Geller commented that the Firm’s “reputation has defense attorneys on notice. . . . When they see Robbins Geller is the plaintiffs firm [they are up against], they have to have a sit-down with their clients and explain to them that . . . [they] are in for a fight.”
Robbins Geller served as one of the lead counsel representing investors in a landmark class action case that spanned six years against Countrywide Financial Corporation, a case in which Law360 commended the Firm for obtaining a $500 million recovery, “the largest RMBS purchaser class action recovery to date.” Additionally, Robbins Geller led former shareholders of Rural/Metro to a rare trial victory in March, and then in October, Delaware Vice Chancellor J. Travis Laster ordered that RBC Capital Markets, the investment banking arm of Royal Bank of Canada, to pay former Rural/Metro shareholders over $75 million. As Law360 noted, it was the fact that “Robbins Geller objected to the settlement and ultimately took over the case [that led] to the successful outcome for shareholders at trial.”
The publication also recognized the settlement in the Wells Fargo shareholder action, where Robbins Geller served as co-lead counsel on behalf of an institutional investor who alleged that Wells Fargo participated in the mass-processing of home foreclosure documents by engaging in widespread robo-signing, i.e., the execution and submission of false legal documents in courts across the country without verification of their truth or accuracy, and failed to disclose Wells Fargo’s lack of cooperation in a federal investigation into the bank’s mortgage and foreclosure practices. Final approval of this $67 million settlement was granted in July. Additionally, in June of this year, a federal judge in West Virginia approved a $265 million settlement in a shareholder suit that stemmed from the country’s worst coal mine disaster in more than 40 years. Robbins Geller served as co-lead counsel for shareholders that claimed Massey Energy made false and misleading statements and omissions about its health and safety practices, policies and results, and that its true conduct was revealed through the Upper Big Branch disaster and subsequent disclosures.
Most recently, after more than 4 years of litigation and on the eve of trial, Robbins Geller led shareholders to a $65 million settlement with Psychiatric Solutions Inc., an operator of more than 95 psychiatric facilities for at-risk children and teens, and 4 of its former and current executives. The settlement is the largest securities recovery in the Middle District of Tennessee in almost a decade, and came just one week before trial. The Firm moved almost 20 attorneys and other staff to Tennessee for the trial, which founding partner Darren J. Robbins said “was the key to getting the case settled,” as only when Psychiatric Solutions saw “the team that was down there to try the case did they agree to settle.” This case is another testament to Robbins Geller’s willingness and ability to shoulder the burden of sustained litigation, through trial if necessary, on behalf of its clients.
“Robbins Geller’s recent successes are the byproduct of consistent high-level work on behalf of clients,” Law360 noted, and Robbins and Geller commented that “having significant financial resources is a key to the firm’s effectiveness.” The Firm boasts over 20 former federal and state prosecutors among its partners and associates, as well as a number of other experienced trial lawyers, making Robbins Geller unique among firms that specialize in plaintiffs’ class action litigation in its ability to handle such cases.
“Robbins Geller settlements are higher because we prepare every case as if we are going to go to trial,” Geller said in conclusion. “There are [plaintiffs] firms out there that bring a case hoping for a settlement because the reality is they don’t have the resources to try a case.”