Correction: This article has been corrected to reflect that the credit card antitrust case has received preliminary approval, to properly identify the attorneys litigating that case and to accurately identify the firm’s role in the titanium dioxide litigation.
Berger & Montague is a closer. Last November, the 60-attorney firm helped secure preliminary court approval for a $7.25 billion settlement in a private antitrust class action that alleged price-fixing on transaction fees by payment card networks Visa and MasterCard and the U.S. banks that owned those networks. It also won injunctive relief requiring the defendants to change their practices. H. Laddie Montague Jr., Merrill G. Davidoff, Bart Cohen and Michael Kane litigated the case.
“We are fortunate to have a very talented group of lawyers who are as tenacious as they are creative,” Michael Dell’Angelo said. Attorneys on the defense side did not respond to requests for comment.
In July, the Philadelphia firm as co-lead counsel helped obtain final approval for a $100 million settlement with JPMorgan Chase & Co. for the bank’s role in the MF Global Holdings Ltd. mess. The settlement stemmed from JPMorgan’s transfers of commodity customers’ money before MF Global’s collapse.
The deal, in which Berger & Montague represented MF Global’s commodity customers, also required JPMorgan to return nearly $30 million more that it held in customer accounts. In addition, Berger & Montague lawyers said, the settlement will enable the MF Global trustee to distribute about $1 billion to commodity customers. The firm went up against Wachtell, Lipton, Rosen & Katz, which represented JPMorgan. That firm did not respond to a request for comment. Merrill G. Davidoff and Michael Dell’Angelo litigated the case.
And between mid-July and mid-September, Berger & Montague reached a $163.5 million settlement as class and trial counsel in a class action against five major producers of titanium dioxide, used in paints and coatings. The team got the class certified and made sure expert testimony from the plaintiffs’ key economic witnesses was admitted. Vinson & Elkins attorney James Reeder, on the defense side, described Berger & Montague attorney Eric Cramer as “even-tempered” and “frankly, a good guy to try a complex lawsuit with.”