Robbins Geller Rudman & Dowd LLP Announces Court Approval of $25 million Settlement in Trump University Case
San Diego, California
Today, the Honorable Gonzalo P. Curiel of the United States District Court for the Southern District of California granted final approval of a $25 million settlement reached by Robbins Geller Rudman & Dowd LLP (“Robbins Geller”) attorneys, under which “Eligible Class Members may receive [a] recovery of 90% or greater.” The Court hailed the settlement amount as “extraordinary” and “all the more exceptional when viewed in light of the risk” of continued litigation. In approving the extraordinary settlement, the Court commended Robbins Geller for prosecuting the case on a pro bono basis: “Class Counsel’s exceptional decision to provide nearly seven years of legal services to Class Members on a pro bono basis evidences not only a lack of collusion, but also that Class Counsel are in fact representing the best interests of Plaintiffs and the Class Members in this Settlement. Instead of seeking compensation for fees and costs that they would otherwise be entitled to, Class Counsel have acted to allow maximum recovery to Plaintiffs and Class Members. Indeed, that Eligible Class Members may receive recovery of 90% or greater is a testament to Class Counsel’s representation and dedication to act in their clients’ best interest.”
“We spent thousands of days fighting for thousands of victims, and we are grateful to see this result approved by the Court,” said Robbins Geller partner Rachel Jensen. Class representative Art Cohen said, “I never dreamed we’d be able to return over 90% of the money students around the country spent on this school. It’s unheard of and I couldn’t be happier.” Robbins Geller partner Jason Forge added, “Fighting against the odds can be extremely frustrating, but it wouldn’t feel nearly as good if it was easy.”
The cases, Low v. Trump University LLC and Donald J. Trump, No. 10-cv-0940 GPC-WVG (S.D. Cal.), and Cohen v. Donald J. Trump, No. 13-cv-2519-GPC-WVG (S.D. Cal.), are pending in the Southern District of California, with the Honorable Gonzalo P. Curiel and Honorable William V. Gallo presiding.
Robbins Geller Rudman & Dowd LLP is widely recognized as one of the leading law firms advising and representing clients in complex litigation, including securities fraud, corporate takeovers, shareholder derivative claims, consumer fraud, antitrust, insurance fraud and intellectual property, as well as whistleblower protection and qui tam suits. With 200 lawyers in 10 offices nationwide, Robbins Geller has obtained many of the largest securities class action recoveries in history and was ranked first in both total amount recovered for investors and number of shareholder class action recoveries in ISS’s SCAS Top 50 Report for the last two years. Robbins Geller attorneys have shaped the law in the areas of securities litigation and shareholder rights and have recovered tens of billions of dollars on behalf of the Firm’s clients. Robbins Geller not only secures recoveries for defrauded investors, it also strives to implement corporate governance reforms, helping to improve the financial markets for investors worldwide.