From the insurance and financial-services arenas to intellectual property, Dickstein Shapiro plaintiffs lawyers over the past year built a string of wins for corporate clients and settled a landmark sex-abuse class action.
Dickstein traditionally specialized in defense but has found success on the opposite side of the courtroom. Taking on technology companies including Google Inc. in Virginia federal district court, it won a $30 million verdict — and potential future liabilities — for client Vringo Inc. and a subsidiary. Vringo alleged the defendants infringed patents on a process that produces advertisements based on Internet search terms. Attorneys from Dickstein Shapiro are taking on 16 of the world’s biggest banks in a case related to manipulation of the London interbank offered rate, or Libor. Dickstein filed suit in Virginia federal district court in March, representing the Federal Home Loan Mortgage Corp., or Freddie Mac. The federal government is monitoring developments.
“It’s huge because the dollars at stake are in the trillions,” said Richard Lev­eridge, managing partner of Dickstein’s Washington office. “I think the Libor case is one of the most important cases out there with huge ramifications for the banking industry.”
Over the years, Dickstein has developed a strong practice representing policyholders against insurance companies. In one case last year, Dickstein lawyers helped to negotiate a $123 million deal on behalf of Beebe Medical Center Inc. in Delaware, amid a sex-abuse scandal involving a pediatrician and hundreds of children. The deal included $115 million obtained from six insurance companies.
“We wanted to maximize the compensation for the victims to the extent we could and at the same time to keep the hospital going,” partner James Murray said. The deal marked the first time a sex-abuse case settled through a class action, Dickstein lawyers said.