Michael Dowd of Robbins Geller Rudman & Dowd. ()
In the 10 years that Robbins Geller Rudman & Dowd has been in operation, it’s scored a string of impressive knockouts in complex securities litigation cases.
In 2013, the firm delivered a $2.46 billion win to more than 45,000 shareholders suing Household International, now HSBC Finance Corp., on allegations that it misled investors about predatory lending practices, the quality of its loans and its accounting. Partners Michael Dowd, Spencer Burkholz, Daniel Drosman and Luke Brooks served as lead counsel in the Northern District of Illinois lawsuit.
In October, HSBC and three former executives were ordered to pay about $1.48 billion in damages and $986.4 million in prejudgment interest to about 10,900 class members. It was the largest securities fraud class judgment following a jury trial, Dowd said, adding that about 25,000 claims are pending. An HSBC spokesperson said that the company is appealing.
Robbins Geller also represented merchants who sued Visa Inc., MasterCard Inc. and major banks over interchange or credit card swipe fees paid by merchants. Robbins Geller’s Bonny Sweeney, Patrick Coughlin and other attorneys, plus lawyers from Robins, Kaplan, Miller & Ciresi and Berger & Montague won a $5.7 billion settlement and rule changes.
Robert Vizas, an Arnold & Porter attorney who represented Visa, called it a “fair and proper resolution.”
Based: San Diego
Total No. of Attorneys: 196
► In cases that involve complicated facts that can be confusing, it’s important for an attorney to simplify the crux of the wrongdoing.
► Don’t get so caught up in expert testimony that the wrongdoing involved gets lost.
► Be concise with the facts.
—Patrick Coughlin, of counsel