As if helping to secure a historic billion-dollar settlement against Toyota Motor Corp. didn’t keep Susman Godfrey busy enough last year, the firm’s performance was key in other landmark cases as well.
In April, it secured a $106.5 million judgment for bond insurer Assured Guaranty Ltd. against Flagstar Bancorp Inc. for misrepresenting the risk of its mortgage-backed securities. Prior to appeal, Assured and Flagstar settled for $105 million. “Once that judgment was made, every other case in that whole area settled very quickly thereafter,” said Susman Godfrey partner Jacob Buchdahl. Opposing counsel at Arnold & Porter did not respond to requests for comment.
