Based in the Philadelphia suburb of Radnor, Pennsylvania, plaintiff heavyweights Kessler Topaz Meltzer & Check have scored nationwide wins in the class-actions sphere. Clients voice appreciation for its partners being “well prepared in analysis of cases,” and “keeping the client informed.” While domiciled in suburban Pennsylvania, the firm’s ambitions have taken it global. “Kessler Topaz has a lot of penetration in the European market. They spent a lot of money on that, and it has paid off. They realized that there was a space in Europe where they did not know there was a class-action market at all, and so they built a monitoring practice with them. This has grown to the point where they are representing institutional investors in the US as well.”
In a recent example of the rewards of the firm’s overseas entrepreneurialism, Kessler Topaz scored a major win in February 2022, when a $1.6 billion global settlement became effective with Steinhoff International Holdings, Steinhoff auditor Deloitte & Touche South Africa, and Steinhoff’s former directors and officers and their D&O insurers. The settlement is purportedly the largest securities settlement outside the US to date. It resolves claims brought by Steinhoff common stock shareholders before courts in the Netherlands, Germany, and South Africa for losses they sustained as a result of Steinhoff’s December 2017 revelation that it had discovered accounting irregularities and that it had overstated profits by $7.4 billion between 2009 and 2017. Kessler Topaz, representing more than 40 institutional investors from around the globe, initially filed legal action in the Netherlands, seeking recovery of investor losses and a judicial examination.
Stuart Berman is particularly noted for his non-US litigation practice, as is
Darren Check. The latter is praised by a client as “very knowledgeable and informative” and someone who “always keeps his clients up to date on the status of cases.”
While the firm has been primarily lauded for its securities practice, an area in which it has scored some of its most noteworthy victories, there has been a push toward antitrust cases as of late. In one example,
Joseph Meltzer represents a class of plaintiffs who filed a Consolidated Class Action Complaint against pharmaceuticals entity Amarin, alleging that, having pursued and lost patent infringement litigation against would-be generic competitors as well as exhausting every regulatory means to prevent and delay the launch of generic competitors, Amarin adopted an unlawful strategy to artificially extend its monopoly for its sole product, Vascepa. By locking up every viable supplier of the key ingredient needed to manufacture generic Vascepa, Amarin boxed generic manufacturers out of the market. This scheme left Amarin free to continue charging supracompetitive prices and obtain the most profit it could out of Vascepa, at the expense of the plaintiffs and other purchasers of the drug. In another “antitrust-adjacent” matter, Meltzer and Check represent a class of plaintiffs, New Jersey municipalities, who filed a complaint against video programming and cable entities Netflix and Hulu, alleging that the defendants were required to file an application for individual certificates of approval or a system-wide franchise, in accordance with a New Jersey state statute, and failed to do so – and thus are providing cable television services throughout New Jersey without authorization and in contravention of the New Jersey Cable Television Act. Such certificates of approval and/or franchise would have authorized the defendants to use public rights-of-way to provide their cable television service and video programming, provided that defendants make payments to each municipality in which it provides service. The required payment is equal to a percentage of the gross revenues derived from subscription fees paid by subscribers in each municipality. The plaintiffs seek to require the defendants to abide by the CTA and pay what they owe to New Jersey municipalities.
