ISS SCAS Top 50 Report Ranks Robbins Geller First for Recovering $1.6 Billion for Investors in 2020, More than Any Other Plaintiffs Firm
On March 23, 2021, Institutional Shareholder Services (ISS) released its annual Securities Class Action Services (SCAS) Top 50 Report with Robbins Geller ranked first among all law firms. Robbins Geller recovered more than $1.6 billion for investors in 2020, including the top two securities class action recoveries of the year: American Realty Capital Properties, Inc. (“ARCP”) ($1.025 billion recovery) and First Solar ($350 million recovery).
“ISS SCAS’ analysis of these settlements identified Robbins Geller . . . as the only plaintiff law firm to surpass the $1 billion [recovery] threshold in 2020 . . . .” ISS continues to recognize Robbins Geller at the top of its rankings with respect to both the total amount recovered for investors and the number of shareholder class action settlements.
“We are particularly pleased with the result our trial team achieved in ARCP,” said Robbins Geller partner Darren Robbins. “This recovery of more than $1 billion for class members included a $237.5 million contribution from two individual defendants, the largest contribution ever made by individual defendants to a PSLRA settlement.”
The $350 million recovery for investors in Smilovits v. First Solar, Inc. was achieved on the eve of trial and represents the fifth-largest PSLRA settlement ever in the Ninth Circuit and the biggest PSLRA recovery ever in the District of Arizona.
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