Most Feared Plaintiffs Firm: Robbins Geller
Law360 named Robbins Geller as one of the nation’s Most Feared Plaintiffs Firms for the third consecutive year, recognizing the Firm’s recent case victories from July 1, 2014 to July 1, 2015. The publication noted that while “[g]oing the distance in high-risk battles with the nation’s top defense firms and their well-heeled clients may seem daunting to some firms, [Robbins Geller] has made a name for itself by plunging headfirst into such challenges,” recovering “more than $2 billion for institutional investors around the world” over the past year.
The publication commended the Firm’s $400 million recovery achieved for shareholders in a class action against Pfizer Inc. regarding its off-label marketing of drugs. The settlement was reached just days before trial was to commence and after more than five years of litigation. Partner Michael J. Dowd, lead trial counsel on the case, said the Pfizer case “was a good example of a case where a lot of firms shied away from it since it was going to be a tough fight, but we took it on.”
Robbins Geller also achieved a $388 million recovery in the J.P. Morgan MBS class action, one of the last remaining MBS purchaser class actions arising out of the global financial crisis. The case, “spearheaded by partners Daniel Drosman and Luke Brooks, involved six years of fierce litigation, an extensive investigation and 40 depositions, and resulted in the highest percentage-of-face-value recovered out of the 16 comparable MBS purchaser class action settlements to date,” the publication said. The settlement also represents, on a percentage basis, the largest recovery ever achieved in an MBS purchaser class action.
Also of note were the several settlements totaling $590.5 million in the antitrust class action that involved some of the world’s largest and most powerful private equity firms, “accusing them of conspiring to keep the price of leveraged buyouts low.” The settlement is the largest class action antitrust settlement ever in which no civil or criminal government action was taken. Patrick J. Coughlin, co-lead counsel on the case, noted that “[h]istorically, these firms had fiercely competed against each other. We had to show how these natural competitors were colluding, and that was hard to do and very complicated.”
Last but not least, Law360 praised the Firm’s “$930 million [secured] in 35 shareholder class action settlements, [ranking the Firm first] among law firms in terms of total amount recovered as well as number of deals,” according to Institutional Shareholder Services’ SCAS Top 50 report for 2014. The report also highlights that Robbins Geller has recovered $15 billion of “the top 100 [settlements] of all time,” which includes the largest securities class action (Enron - $7.3 billion), the largest securities class action judgment (Household - $2.46 billion), the largest stock option backdating recovery (UnitedHealth - $925 million), the largest opt-out (non-class) securities action recovery (WorldCom - $657 million), and the largest RMBS purchaser class action recovery (Countrywide - $500 million), to name a few.
“I think that the reason you see us at the top year after year is that the largest and most respected institutions around the globe choose the firm because of the depth of financial and human resources and the willingness to prosecute cases in a manner that doesn’t cut the litigation short,” commented partner Darren J. Robbins.
Law360 concluded that “[a]mong the reasons Robbins Geller has been able to secure a multitude of record-breaking recoveries for clients is the firm’s steadfast willingness to take complex cases all the way to trial, along with a deep bench of talented lawyers and the financial means to take cases on contingency.”