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Tuesday, October 23, 2007

NLJ Releases 2007 Plaintiff's Hot List

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Earlier this week The National Law Journal released their sixth annual Plaintiffs' Hot List, a self-described "unscientific survey of the litigation scene," with a focus on "exemplary firms that devote at least half of their resources to plaintiffs' work, and which have achieved at least one significant win during that period."

The list, which runs to a bakers dozen of plaintiff side firms, is heavy on the securities litigation firms, with all but one firm having a securities litigation practice. Another common theme - how large some of these firms have become just in the last few years. While few would even be considered midsize firms in this age of mega-firms, it is telling that so many plaintiff side firms now have more than 50 attorneys, when as recently as 2003 that threshold was broken by just a small handful of firms.

Here is the list together with a brief blurb about each firm from the article.

Berger & Montague

Philadelphia has a reputation for canny, assertive and effective plaintiffs' firms, and Berger & Montague is a case in point. Since David Berger founded the firm in 1970 to pursue securities actions, it has had a hand in some of the most important employment discrimination, mass torts, and human and civil rights claims.

Bernstein Liebhard & Lifshitz

Long known for blazing trails in securities and shareholder class actions, New York-based Bernstein Liebhard & Lifshitz has been active lately in litigation over the value of companies being taken private.

Bernstein, Litowitz, Berger & Grossmann

Also known for its work in securities class actions, Bernstein Litowitz Berger & Grossmann claims more than $12 billion in recoveries during the past five years. The firm was sole or co-lead counsel in five of the 10 largest securities class actions to date.

Coughlin Stoia Geller Rudman & Robbins

Noteworthy cases include In re Cardinal Health Inc. Securities Litigation, where the $600 million settlement in this accounting fraud case was the largest to date in the 6th Circuit.

Grant & Eisenhofer

Grant & Eisenhofer celebrated its 10th birthday this year by expanding its New York office and opening a new office in Washington. Noteworthy cases include In the Matter of Royal Dutch Shell Settlement, where the firm took advantage of a relatively new Dutch law to win a $450 million settlement for European shareholders.

Hagens Berman Sobol Shapiro

Carl Hagens and Steve Berman founded their firm in 1993 to represent plaintiffs in complex multiparty and class litigation...Today the firm has 43 attorneys in offices in Seattle, Phoenix, Los Angeles, Chicago, San Francisco and Boston.

Korein Tillery

Korein Tillery is a 20-attorney law firm with offices in St. Louis and Chicago and a reputation for aggressive prosecution of insurance, securities, antitrust and consumer fraud litigation. Notable for its $10.1 billion judgment in 2003 against Phillip Morris in the first consumer action over 'light' cigarettes, the firm has distinguished itself during the past year with actions involving prescription drugs and consumer protection.

Labaton Sucharow

Labaton Sucharow, a 60-attorney New York firm, bills itself as 'a champion of investor and consumer rights.' Noteworthy cases include JDS Uniphase, which is slated to go to trial this week and In re Mercury Interactive Corp. Securities Litigation, the largest settlement agreement to date in an options-backdating case.

Lieff Cabraser Heimann & Bernstein

The firm has had a hand in some of the most important cases litigated since its founding in 1972, including actions involving the Exxon Valdez oil spill and billions of dollars in assets seized from Holocaust victims and Nazi slave laborers. In recent years the firm has recovered more than $700 million in state antitrust settlements against Microsoft Corp.

Phillips & Cohen

Qui tam is the thing at Phillips & Cohen. Name partner John Phillips helped draft the legislation when Congress updated the Civil War-era law that allows whistleblowers to file suit against corrupt enterprises on the government's behalf.

Schiffrin, Barroway, Topaz & Kessler

Noteworthy cases include In re Tyco International Ltd. Securities Litigation, where, after years in litigation, Tyco agreed in May to pay more than $3 billion, In the Matter of Royal Dutch Shell Settlement, where the take for the plaintiffs will be approximately $450 million, and In re Delphi Corp. Securities Litigation.

Seeger Weiss

The attorneys at New York-based Seeger Weiss are all on the dewy side of 50, but rank among the country's top plaintiffs' lawyers. Name partner Christopher A. Seeger, for example, was appointed plaintiffs' co-lead attorney in the Vioxx multidistrict litigation in New Orleans, and in 2005 was chief negotiator in a $700 million settlement for patients who took Eli Lilly & Co.'s anti-schizophrenia drug Zyprexa.

Whatley Drake & Kallas

Whatley Drake & Kallas was founded in Birmingham, Ala., just nine years ago, but is fast building a reputation for its leadership role in class actions that have recovered billions of dollars and forced significant corporate reforms.

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