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Top Securities Firm Elevates Michael J. Dowd to Name Partner

February 24, 2010
San Diego

Days after being named an “Attorney of the Year” by California Lawyer magazine, Michael J. Dowd has been added as a name partner at Coughlin Stoia Geller Rudman & Robbins LLP.

“I’m honored to have my name added to the masthead,” said Dowd. “I look forward to continuing our firm’s unmatched success in standing up for defrauded shareholders and consumers.”

Dowd has served on the firm’s Executive Committee for years and played a key role in many of the firm’s groundbreaking cases, including last year’s victories against UnitedHealth and Household International – two of the most significant results in recent securities litigation.

“Mike Dowd is a lawyer’s lawyer.  He’s not only one of the most talented lawyers I know, he is one of the hardest working guys in the securities bar,” said Darren J. Robbins.

Dowd, a former federal prosecutor, recently won a liability verdict against Household International (now part of HSBC) in a case in which three executives misled investors about the company’s business practices, one of the few times purveyors of predatory lending practices have been held accountable.

Reflecting his success, California Lawyer magazine this month announced that it will award Dowd its prestigious “Lawyer of the Year” award, noting “Dowd led a trial team to a rare verdict in a securities class action that resulted in a finding of liability for the plaintiffs after a two-week trial…. In the damages phase, now underway, class members could recover as much as $3 billion.”

In addition, Dowd led the litigation team that obtained a recovery of nearly $1 billion from UnitedHealth in the largest ever options backdating case, and was responsible for recoveries in the AOL Time Warner, WorldCom, Qwest, Vesta, U.S. West and Safeskin cases.  Dowd was also the lead trial lawyer in the AT&T case, which settled after two weeks of trial for $100 million.

Additionally, as the Enron case wraps up and a record-setting $7 billion is being distributed to defrauded shareholders, Patrick J. Coughlin is stepping back from the day-to-day administrative duties of the firm.  “I take great pride in transitioning to Of Counsel status with a firm that has an unmatched group of talented attorneys, more institutional clients than any other securities firm, and scores of good cases,” said Coughlin.

Coughlin will remain as Of Counsel to the firm and continue to litigate cases.  Reflective of these developments, at the end of this quarter the firm will be known as Robbins Geller Rudman & Dowd LLP. The firm is the acknowledged leader in the field, with more institutional investor clients than any other plaintiffs’ securities firm and unmatched success recovering funds for defrauded shareholders, including the largest securities class action recovery (over $7 billion for Enron shareholders), the largest options backdating case (nearly $1 billion for UnitedHealth shareholders), the largest opt-out recovery (more than $650 million for WorldCom investors), and the recent liability verdict returned by the jury in the Household International case.

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