On The Record

First Quarter 2015

This quarter, as emphasized in Robbins Geller’s On the Record newsletter, the proposed $400 million settlement announced with Pfizer just days before trial was to commence stands out. The result, against the largest pharmaceutical manufacturer in the world, is a testament to both the unswerving diligence of the Firm’s investigation team in guiding the case over years of litigation and the threat posed by the trial counsel when the defendants knew what they had to work with.  The American Lawyer praised partners Michael J. Dowd and Jason A. Forge, two integral members of the Firm’s trial team, who obtained this excellent result in a case no other firm filed.

In other good news, Robbins Geller obtained settlements where trials were fast approaching in cases against Psychiatric Solutions and the massive private equity antitrust class action. The action against Psychiatric Solutions (settled for $65 million) involved five years of litigation, including multiple unsuccessful attempts by defendants to have district court decisions reconsidered or overturned by an appellate court. The private equity case settlements, ultimately totaling over $590 million, culminated years of hard-fought litigation against some of the biggest names in private equity finance with a string of settlements and preparations for trial against one final defendant, who settled as trial loomed. In still-pending actions, the Firm notes post-Halliburton II class certification decisions in two securities cases, Bridgepoint Education and Questcor, as well as certification of a RICO consumer class action.

The publication also features articles on proxy access in 2015 and a book review on Michael Perino’s Have Institutional fiduciaries improved securities class actions? A review of the empirical literature on the PSLRA’s lead plaintiff provision, in Cambridge Handbook of Institutional Investment and Fiduciary Duty.

Robbins Geller looks forward to litigating in the upcoming quarter in these and many other cases.

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