California

Firm overview

Founded in 1982, Berman Tabacco is a national law firm with offices in California and Massachusetts. The firm has devoted its practice to complex litigation, primarily under the securities and antitrust laws, as well as other related services requested by its institutional clients and consumer class actions.

Securities Litigation: Berman Tabacco has over 40 years of securities -litigation experience and has represented public pension funds, multiemployer plans and other institutional investors in that area since 1998. The firm has prosecuted some of the largest securities cases and has recovered billions of dollars on behalf of investors. The firm prides itself on its client-focused approach, exercising superior legal judgment in advising clients about complex cases. Indeed, the quality of the firm’s evaluations and litigation acumen is evidence by several facts. First, Berman Tabacco’s dismissal rate for cases brought under the federal securities laws is less than half the overall dismissal rate for such cases, based on the reported dismissal rate by one authoritative study, Securities Class Action Filings: 2023 Year in Review, pp. 19, 37 (Cornerstone Research 2024). Second, Berman Tabacco appears as one of the firms with the most settlements on the list of the top 100 largest securities class actions in ISS Securities Class Action Services’ published report, Top 100 U.S. Class Action Settlements of All Time (as of 12/31/2023).

Selected successes include:

• In re IndyMac Mortgage-Backed Sec. Litigation, No. 1:09-cv-04583 (LAK) (S.D.N.Y.). As lead counsel, the firm recovered $346 million on behalf of the class against investment-bank underwriters and officers, which was one of the largest mortgage-backed-securities class action settlements and the largest paid by underwriter defendants.
• California Public Employees’ Retirement System v. Moody’s Corp., No. CGC-09-490241 (Cal. Super. Ct. San Francisco Cty.). As sole counsel, the firm recovered $255 million from Moody’s and Standard and Poor’s entities in this landmark individual action on behalf of the California Public Employees’ Retirement System alleging negligent misrepresentations in connection with rating three structured investment vehicles.
• In re BP plc Sec. Litigation, No. 4:10-md-02185 (S.D. Tex.). The firm recovered $175 million on behalf of the class—one of just four mega securities class action settlements in 2017 (settlements of $100 million or more), according to Cornerstone Research—in this hard-fought litigation on behalf of shareholders of BP American Depository Shares arising out of BP’s Deepwater Horizon explosion, one of the worst oil spills in history. Class members who submitted claims received approximately 115% of their recoverable losses.
• In re Fannie Mae 2008 Sec. Litigation, No. 08-cv-07831 (PAC) (S.D.N.Y.). Representing co-lead plaintiff Massachusetts Pension Reserves Investment Management Board, the firm resolved claims for $170 million alleging that Fannie Mae failed to disclose (i) growing exposure to high-risk mortgages as well as (ii) problems with the company’s risk controls, both of which led to federal conservatorship in 2008.
• In re Aegean Marine Petroleum Network, Inc. Sec. Litigation, No. 18-cv-04993-NRB (S.D.N.Y.). As sole lead counsel representing a state pension fund, the firm negotiated $41.749 million settlement on behalf of investors in this action involving a Greek company that declared bankruptcy, where the defendants were residents of Greece and where much of the evidence and witnesses were located in Greece. In addition to recouping monies from the two outside auditors and insurance proceeds on behalf of the former officer, the firm also succeeded in obtaining a personal cash settlement from the other individual defendant.
• Oklahoma Police Pension and Retirement System v. Sterling Bancorp, Inc., et al., No. 2:20-cv-10490 (E.D. Mich.). As sole lead counsel representing Oklahoma Police Pension and Retirement System, the firm achieved a $12.5 million settlement on behalf of the class in this action which alleged, among other things, that defendants misled investors from its IPO forward regarding its core product, the Advantage Loan Program, and its compliance with the Bank Secrecy Act/Anti-Money Laundering provisions. The settlement is significant because it was reached early in the case and represented approximately 20% of the alleged damages (which is far higher than the median recovery for securities fraud class actions overall of less than 5%) even though the company’s continued viability was in question.

Antitrust Litigation: Berman Tabacco’s antitrust practice also has a national reputation for prosecuting class actions that involve anticompetitive conduct and con-spiracies to fix or maintain prices. Over the years, the firm has played a major role in the prosecution of numerous landmark antitrust cases and some of the largest antitrust settle-ments—recovering billions of dollars for class members. The following are examples of the antitrust group’s efforts:

• Automobile Antitrust Cases I and II, JCCP Nos. 4298 and 4303, Nos. CJC-03-004298 and CJC-03-004303 (Cal. Super. Ct. San Francisco Cty.). Berman Tabacco was lead trial counsel for plaintiffs in a California state court action (and was previously chair of the executive committee for plaintiffs in the federal multidistrict class action, In re New Motor Vehicles Canadian Export Antitrust Litig., No. 03-md-1532 (D. Me.)), against leading automakers for alleged violations of the antitrust laws with regard to the pric-ing and importation of automobiles from Canada into the United States. In advance of trial and after almost 20 years of litigation, Plaintiffs settled with the final defendant for $82 million, which received Court approval on October 31 2022. This brought total settlements in the related federal and state cases to $137.85 million.
• In re Lithium Ion Batteries Antitrust Litigation, No. 13-md-02420-YGR (N.D. Cal.). Berman Tabacco was co-lead counsel for the class of direct purchasers of lithium-ion rechargeable batteries in a class action alleging that defendant manufacturers participated in a conspiracy in violation of federal antitrust laws to fix the prices of lithium-ion rechargeable batteries (which are commonly used in devices such as note-book computers, cell phones, and digital cameras). The firm successfully negotiated settlements totaling $139.3 million, which was approved in May 2018.

Moreover, in the past decade, the firm’s antitrust and securities attorneys have been prosecuting class actions on behalf of its institutional clients alleging that class members suffered investment losses due to violations of the antitrust laws. Select examples include:

• Dennis, et al. v. JPMorgan Chase & Co., et al., No. 1:16-cv-06496-LAK (S.D.N.Y.). Berman Tabacco was Plaintiffs’ Counsel representing Orange County Employees Retirement System in this action alleging that defendants conspired to manipulate the Australian Bank Bill Swap Reference Rate (“BBSW”) and the prices of BBSW-based derivatives. The firm successfully negotiated settlements in the total amount of$185.875 million, which were approved by the court on November 2, 2022.
• Sullivan v. Barclays PLC, et al., No. 13-cv-02811 (PKC) (S.D.N.Y.). Berman Tabacco represents California State Teachers’ Retirement System in this action alleging that over a dozen major banks colluded in violation of the antitrust laws to manipulate the EURIBOR, a global reference rate used to benchmark and price over $200 trillion of financial products. As of July 2024, partial settlements totaling $651.5 million have been approved by the court.
• Laydon v. Mizuho Bank, Ltd., No. 1:12-cv-03419 (GBD) (S.D.N.Y.) & Sonterra Capital Master Fund, Ltd. v. UBS AG, No. 1:15-cv-05844 (GBD) (S.D.N.Y.). Berman Tabacco is counsel for plaintiffs representing California State Teachers’ Retirement System in these actions alleging that bank traders and their affiliates colluded in violation of antitrust laws to manipulate the Euroyen TIBOR and Yen LIBOR rates—benchmark rates used to determine interest rates and to price Japanese Yen-based financial instruments. As of July 2024, partial settlements totaling $364.5 million have been achieved and approved by the court.
• In re European Government Bonds Antitrust Litigation, No. 19-cv-2601 (S.D.N.Y.). Berman Tabacco is Interim Co-Lead Counsel and counsel for plaintiff San Bernardino County Employees’ Retirement Association in this action alleging defendant banks conspired with each other for years to manipulate the prices at which they transacted European Government Bonds in the secondary market with U.S investors. The Court has approved the first $40 million in settlements and the final approval hearing for $80 million in settlements with the remaining defendants is scheduled for December 6, 2024.

Updated Oct 2024

Firm overview

Hausfeld is a leading antitrust and disputes law firm with 12 offices in the US (Boston, New York, Philadelphia, San Francisco, and Washington, DC), the UK (London), and continental Europe (Amsterdam, Berlin, Brussels, Düsseldorf, Hamburg and Stockholm). Our global reach means we can litigate in jurisdictions that suit our clients best. We are also experienced in mediation and arbitration. 

Hausfeld brings a visionary approach to resolving claims, whether that is for a single client or a group working collectively. As a leader in pioneering legal actions for damages, Hausfeld innovates by pushing further - the firm tenaciously focuses on results and achieves pragmatic conclusions. Hausfeld lawyers have achieved some of the largest landmark settlements and judgments in our areas of practice, often after hard-fought litigation against the biggest names in the legal industry. Socially minded and a champion for the best corporate governance, our lawyers are at the forefront of the legal profession in improving access to justice for both individuals and businesses. That makes for a profoundly different law firm. 

The Hausfeld team is comprised of highly experienced litigators with a proven track record in claimant disputes in the areas of: 

• Antitrust/Competition 
• Commercial & Financial Disputes 
• Environmental Law 
• Human Rights 
• Product Liability & Consumer Protection 
• Technology & Data Breach 

Hausfeld’s clients include some of the world’s largest corporations in myriad industries, including current clients listed on the Fortune Global 500 and Forbes Global 2000. Hausfeld is reputed for its claimant-friendly, dynamic, entrepreneurial, and pioneering approach to dispute resolution. For more information about the firm, including recent trial victories and landmark settlements, please visit www.hausfeld.com.

US Offices:

Boston
One Marina Park Drive, Suite 1410
Boston, MA 02210
T: +1 617 207 0600
F: +1 617 830 8312

New York
33 Whitehall Street, 14th Floor
New York, NY 10004
T: +1 646 357 1100
F: +1 212 202 4322

Philadelphia
325 Chestnut Street, Suite 900
Philadelphia, PA 19106
T: +1 215 985 3270
F: +1 215 985 3271

Washington
1200 17th Street N.W., Suite 600
Washington, DC 20036
T:+1 202 540 7200
F:+1 202 540 7201

Europe Offices:

Amsterdam
Sarphatikade 14
Amsterdam 1017 WV, Netherlands
T: +31 20 520 7565

Berlin
Walter-Benjamin-Platz 6
Berlin 10629, Germany
T: +49 30 322903001

Brussels
480 Avenue Louise
Brussels 18th Floor - IT Tower 1050, Belgium
T: +32 2 201 57 13

Dusseldorf
Speditionstraße 21-23
Düsseldorf 40221, Germany
T: +49 211 81999 200

Hamburg
Großer Grasbrook 9
Hamburg 20457, Germany
T: +49 40 22 8985 110

London
12 Gough Square
London EC4A 3DW, United Kingdom
T: +44 20 7665 5000

Stockholm
Strandvägen 7A
Stockholm 114 51, Sweden
T: +46 8 586 10 719

Firm overview

Reid Collins & Tsai LLP (Reid Collins) is a trial boutique handling complex commercial litigation and bankruptcy-related litigation, particularly claims involving fiduciary liability, professional negligence, and financial fraud. Key clients include hedge funds, private equity funds, corporations, offshore liquidators, receivers, and bankruptcy trustees. Reid Collins has secured more than $2 billion in total judgments and settlements for its clients in the past several years alone.

Reid Collins is unique in several respects, including: (1) its extensive experience with high-profile cases involving large-scale financial fraud or insolvency; (2) its expertise in successfully pursuing claims against officers, directors, accountants, lawyers, and investment banks relating to the underlying fraud or misconduct; and (3) its willingness to pursue those claims on an alternative fee basis.

Reid Collins has earned many professional accolades for its achievements, including being named: 2024 U.S. Bankruptcy Firm of the Year by Benchmark Litigation; 2021 and 2022 U.S. Business Torts Law Firm of the Year (and 2023 and 2024 finalist) by The National Law Journal; the 2022 Texas Business Litigation Department of the Year (and 2024 finalist) by Law.com/Texas Lawyer; a 2021 and 2024 finalist for National Boutique/Specialty Department of the Year by The American Lawyer; a 2019-2024 finalist for U.S. Plaintiff Firm of the Year by Benchmark Litigation; listed as a “Recommended Firm” in Chambers USA; the 2020 U.S. Bankruptcy and Commercial Litigation Law Firm of the Year by The National Law Journal, and both a “Top 10 Plaintiffs Firm in America” and one of the Top U.S. Boutique Firms by Benchmark Litigation, among numerous other accolades.

Complex Commercial Litigation

Reid Collins has achieved numerous victories in complex commercial litigation, including:

• Obtained one of the largest shareholder derivative settlements in history – a $300 million “direct pay” settlement in the Renren Derivative Litigation – in a case which also set important jurisdictional precedents establishing the right of aggrieved minority shareholders to derivative standing under Cayman law and holding foreign individual and corporate defendants accountable for wrongdoing and fraud in U.S. courts
• Won multiple appeals and obtained judgment of more than $64 million for Claymore Holdings/Highland Capital against Credit Suisse following a five-week trial (and subsequent bench trial) on fraud and breach of contract claims related to a loan for the Lake Las Vegas resort; and
• Recovered nearly $100 million for state pension fund clients resolving claims under the Fraud Against Taxpayers Acts of multiple states against large Wall Street banks related to financial crisis-era sale of residential mortgage-backed securities.

Bankruptcy-Related Litigation

Reid Collins has prevailed in many important bankruptcy-related litigation matters, including:

• Won a landmark decision before the U.S. Supreme Court, restricting the scope of the section 546(e) “safe harbor” defense to fraudulent transfer claims, thereby overturning long-standing interpretations of that defense by five circuit courts;
• Defeated a motion to dismiss a $1 billion lawsuit by the GTAT Litigation Trust against the former officers of GT Advanced Technologies Inc., a former publicly traded company, related to its failed contract with Apple to manufacture sapphire display screens for the iPhone; and
• Achieved a $21.5 million settlement on behalf of the Official Committee of Unsecured Creditors of Fresh & Easy, LLC, with respect to claims against the former insiders – including billionaire Ronald Burkle – for breach of fiduciary duty and fraudulent transfer of certain assets.

Reid Collins has also become a national leader in the pursuit of legal malpractice claims. Over the past decade, the firm has pursued dozens of claims against more than 20 of the Am Law 100 firms, recovering hundreds of millions of dollars for its clients. While many of these claims arose out of financial frauds, the firm also has asserted claims against law firms for negligently documenting multimillion-dollar transactions, providing negligent tax advice, and failing to properly advise their corporate clients on securities laws or key government regulations.

Practice Areas:

Complex Commercial Litigation
Fiduciary Liability
Professional Liability
Financial Fraud
Bankruptcy-Related Litigation

Office Locations:

Dallas

Thanksgiving Tower
1601 Elm Street, Suite 4200
Dallas, TX 75201
T: +1 214 420 8900
F: +1 214 420 8909

New York

420 Lexington Avenue
Suite 2731
New York, New York 10170
T: +1 212 344 5200
F: +1 212 344 5299

Washington, DC

1775 Eye Street, NW, Suite 1150
Washington, DC 20006
T: +1 202 729 9890
F: +1 202 747 7674

Wilmington

1007 N. Orange St. Nemours Bldg - 4th Floor
Wilmington, DE 19801
T: +1 302 467 1765

www.reidcollins.com

Updated Sep 2024

Firm overview

Kasowitz’s core focus is commercial litigation, complemented by our exceptionally strong bankruptcy/restructuring and real estate transactional practices.  We are known for our creative, aggressive litigators and willingness to take on tough cases.  We outthink and outflank our opponents, and understand how to win for our clients.  We have extensive trial experience and are always trial-ready, representing both plaintiffs and defendants in every area of litigation.  We are committed to pursuing aggressive and innovative approaches to our clients’ most challenging legal matters.  Our lawyers have been recognized by, among others, Chambers USA, Legal 500, Benchmark Litigation, Law360 and National Law Journal for excellence in their fields.

Our clients include Fortune 500 companies, private equity and other investment firms across a wide range of industries, including significant experience across financial services (banking, investment management and insurance), technology and real estate.

We have successfully secured billions of dollars in awards and settlements for our clients, who have recently included:

• Aman Resorts
  
• BD Hotels
  
• Centerbridge Partners
  
• Comcast
  
• Condé Nast
  
• Davidson Kempner
  
• Douglas Elliman
  
• Elie Tahari
  
• Fairfax Financial Holdings
  
• Ford Motor Company
  
• Georgetown Company
  
• Harbinger Capital Partners
  
• Icahn Partners
  
• Intellectual Ventures
  
• InterContinental Hotels Group
  
• Levi-Strauss
  
• Liggett Group
  
• Mahindra & Mahindra
  
• Major League Wrestling
  
• Marc Fisher Footwear
  
• MBIA
  
• MF Global Holdings
  
• Morgans Hotel Group
  
• National Grid
  
• NJOY
  
• Nokia
  
• Northwell Health
  
• Pilgrim's Pride
  
• Purolite
  
• Renco
  
• Rescap
  
• SeaWorld Parks & Entertainment
  
• SL Green
  
• Starwood Capital
  
• State of Hawaii
  
• TerraForm Power
  
• Teva Pharmaceuticals
  
• The Palm Restaurant
  
• TPG
  
• U.S. Bank
  
• Vector Group
  
• Waterfall Asset Management
  
• W.C. Bradley
  
• XPO Logistics
  
• Yellow

Updated Oct 2024