Lawyers at Robbins Geller Rudman & Dowd won significant honors over the past year, but for sheer coolness it’s hard to top a write-up in Rolling Stone. The edgy publication in June lauded the 190-lawyer plaintiffs firm for “uncovering a mountain of evidence” that had “never been seen by the general public” detailing allegedly fraudulent conduct of credit rating agencies.
The firm said investors were misled by ratings from Moody’s, Standard & Poor’s and Morgan Stanley. The case settled in April shortly before trial on confidential terms, but The Wall Street Journal reported the payout to plaintiffs was $225 million.
For Robbins lawyers, it was one of several megasettlements in the past year. Also in April, Robbins partners Darren Robbins and Spencer Burkholz, along with co-counsel from Cohen Milstein Sellers & Toll and Kessler Topaz Meltzer & Check, reached a $500 million settlement with Bank of America Corp. and Countrywide Financial Corp. over toxic residential mortgage-backed securities. It was the largest-ever class action recovery for investors who say they were misled about the risk of such securities.
Robbins Geller lawyers and co-counsel from Robins, Kaplan, Miller & Ciresi and Berger & Montague are awaiting final approval of an approximately $6 billion settlement on behalf of 7 million merchants against Visa, MasterCard and more than dozen large banks over interchange fees. The deal would mark the largest antitrust settlement in history.
“Institutional investors come to us because of our willingness to go the distance and prepare a case for trial,” said founding partner Darren Robbins. The firm has offices in 10 cities and counts former federal prosecutors among its ranks. “We bring to bear substantial financial and human resources in a manner designed to optimize results for our clients,” Robbins said.