Bloomberg BNA Recognizes Robbins Geller’s Success and the Importance of Case Selection
According to Bloomberg BNA, “The most successful plaintiffs' firms choose their cases carefully.” In an article entitled Plaintiffs’ Firm Success Hinges on Bringing Right Cases, Bloomberg reporter Michael Greene notes Robbins Geller partner Darren Robbins’ emphasis on the importance of thoroughly evaluating prospective cases before agreeing to serve as lead counsel and how this strategy “has paid off” for Robbins Geller and its clients.
“A successful civil action requires not only establishing defendants’ misconduct, but providing a sensible path to recovery for our clients,” noted Robbins. “We are acutely sensitive to this reality and utilize teams of investigators, former prosecutors and forensic accountants to delve into, assess and formulate potential claims.”
The article notes that “Robbins Geller was the top in 2015 in representing clients in securities class actions, recovering more than $1.5 billion in approved settlements” according to ISS’ SCAS Top 50 Report released last month, which was 50% more than any other law firm. The Report identified the top plaintiffs’ securities law firms ranked by dollar recoveries for 2015 in securities class actions in which each law firm served as lead or co-lead counsel. Additionally, the Report cited the top five law firms based on the number of 2015 settlements. Robbins Geller also ranked first in 2015 in the number of shareholder class action recoveries. This follows the SCAS Top 50 Report for 2014, which likewise ranked Robbins Geller first in both the total amount recovered and number of shareholder class action recoveries for 2014.
Bloomberg also points out that settlement amounts in 2015 were higher than they have been in recent years. For example, in Cornerstone Research’s Securities Class Action Settlements: 2015 Review and Analysis, it is revealed that 2015 saw a significant uptick, with over $3 billion being returned to investors via at least 80 settlements – on par with the historical averages. By Cornerstone’s assessment, that represents a three-fold increase in the amount returned to investors in just one year, with the number of settlements the highest since 2010.
Beyond determining the right claims to pursue, the article discusses Robbins Geller’s three overarching principles to a successful practice: integrity, character and hard work. “You can’t have a successful plaintiffs’ firm if you are not willing to put your money where your mouth is,” said Robbins. “You have to go all in, not test the waters. You have to have the willingness (and the ability) to devote tremendous resources, both human and financial, to your clients’ cases.” As cases move forward, Robbins Geller trial teams, which include former federal and state prosecutors, cohesively coordinate with the Firm’s in-house experts, appellate department, forensic accountants and economists in preparing for and trial of the Firm’s cases. Robbins Geller’s results in 2014 and again in 2015 illustrate the Firm’s willingness and ability to shoulder the burden of sustained litigation and see a case through on behalf of its clients, despite facing adversaries with tremendous power and resources.
Besides staying on top of the changes taking place in the field of securities fraud, Bloomberg acknowledges that plaintiffs' attorneys “face a myriad of challenges,” including overcoming “the influence of lobbyists and business groups on Capitol Hill, and cop[ing] with the high vacancy of district court judges, which leads to delays in case resolution.” Additionally, many of the biggest defense law firms often have comparatively vast client resources, which are used to help defendants evade responsibility for their wrongdoing, often using the very assets taken from investors to fund the defense of the misconduct at issue.
The article concludes with Robbins’ point that “success isn't always measured in terms of dollars and cents. Over the years the Firm has dedicated considerable time, energy, and the full range of its resources for many pro bono and charitable actions that aren’t related to securities fraud.” He added, “We work hard to be good citizens who give back to the communities we live and work in.”
For the full Bloomberg article, please click here.
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- Robbins Geller Secures Appellate Win After Supreme Court of New York Appellate Division Affirms Denial of Motion to Dismiss in Securities Class Action Against Alnylam Pharmaceuticals, Inc.April 30, 2021
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