Consumers may not know what polyurethanes are, but they’re probably familiar with what polyurethanes are used to make — items ranging from insulation to skateboard wheels. Cohen Milstein Sellers & Toll was part of a team suing chemical companies over an alleged price-fixing scheme involving the production of polyurethanes.
In February, a federal jury in Kansas found against The Dow Chemical Co., awarding the plaintiffs $400 million. The judgment, which is on appeal, stands at more than $1 billion after trebling.
Partner Richard Koffman said the plaintiffs’ legal team built upon evidence acquired from defendants that settled. “We ended up with a core set of documents that were very helpful at trial,” he said. The firm worked with Fine, Kaplan and Black; Freedman Boyd Hollander Goldberg Urias & Ward; and Kellogg, Huber, Hansen, Todd, Evans & Figel.
Fine Kaplan’s Don Perelman said he had a positive experience working with the firm, describing Koffman as “very conscientious, very professional [and] very smart.”
In the securities arena, Cohen Milstein negotiated the largest federal mortgage-backed securities class action settlement to date. In August, a California federal judge gave preliminary approval to a $500 million settlement with Countrywide Financial Co. and other defendants sued by investors over allegedly dodgy mortgage-backed securities.
The firm represents the lead federal court plaintiffs. Partner Julie Reiser said the firm “aggressively” litigated the case, even after the judge adopted a narrow position on potential liability. The firm represented clients in a $219 million fraud case settlement and has a burgeoning practice involving public sector clients. Having a variety of practice areas allows firm attorneys to “learn from one another,” Reiser said.