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Robbins Geller Rudman & Dowd LLP Announces Opening of Chicago Office and Recovery of $200 Million for Motorola Shareholders

February 2, 2012

Robbins Geller Rudman & Dowd LLP (“Robbins Geller”) announced today the opening of a Chicago office managed by former federal prosecutor Jim Barz. The announcement comes in the wake of Robbins Geller’s $200 million recovery for shareholders in Silverman v. Motorola, Inc., No. 07-cv-4507, a securities fraud class action pending in the United States District Court for the Northern District of Illinois. The proposed settlement, which remains subject to court approval, was achieved as the parties were preparing for an April 2012 trial.

According to Robbins Geller partner Samuel Rudman, “The settlement represents an extraordinary recovery for investors in a case where there was no financial restatement or SEC investigation. Our clients, the Macomb County Employees’ Retirement System and St. Clair Shores Police and Fire Pension System, deserve all the credit. They alone sought to represent the class and they led the investigation and prosecution of the action from start to finish on behalf of Motorola shareholders.” 

Robbins Geller partner Michael Dowd said the Motorola case is “yet another example of our firm's commitment to vigorously preparing securities cases for trial.” Dowd led the Robbins Geller team that obtained a jury verdict in the Northern District of Illinois on behalf of shareholders of Household International in Lawrence E. Jaffe Pension Plan v. Household International, Inc. et al., Lead Case No. 02-C-5893. The verdict is believed to be the largest jury verdict ever returned in a securities class action.

Rudman noted that “given how few securities fraud cases go to trial, it was an interesting coincidence that the Motorola case settled just as we were preparing for trial in a courtroom literally down the hall from the courtroom where the Household case was tried.” Working with Rudman in representing the class in the Motorola case were Robbins Geller partners Tor Gronborg, Trig Smith, and Jim Barz and a team of associates, paralegals, and in-house forensic accountants.

“The firm’s growing number of institutional clients located in and around the Chicago area, together with our recent successes in Motorola and Household, underscored the need to open the office,” explained partner Darren Robbins. “In fact, late last month, we obtained another favorable decision in the Northern District of Illinois for shareholders in a securities class action against Baxter International. We expect the Baxter case to be tried to a Chicago jury in the not too distant future,” added Robbins.

Robbins Geller represents investors and consumers in contingency-based complex litigation. With nearly 200 attorneys in nine offices, the firm represents more institutional investors and pension funds in securities and corporate litigation than any other law firm in the world. Not only has the firm won six of the largest recoveries in history, but the firm is routinely ranked first in the number of annual recoveries as well as the volume of annual recoveries. Over the past seven years, the firm’s recoveries have averaged 35% higher as a percentage of damages than the nearest competing securities litigation firms.
Visit http://www.rgrdlaw.com for more information. 

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