Quinn Emanuel has the most formidable plaintiffs’-side practices in the world. The caliber of our legal talent, the resources we can bring to all aspects of the case, and our proven track record on the plaintiffs’-side are second to none.
When representing plaintiffs, our lawyers have won $60 billion in judgments and settlements. We have also obtained five 9-figure jury verdicts, thirty-four 9-figure settlements, and fifteen 10-figure settlements. We have achieved success for our plaintiff clients in virtually every type of setting imaginable—including as part of class actions, as plaintiffs opting out from class actions to pursue individual claims, in group actions, and in solo actions. We have achieved success for plaintiffs in federal and state courts, in bankruptcy courts, and on appeal.
Our proven ability to take high-stakes plaintiffs’ cases to trial—and to win them—also presents our adversaries with a threat they must consider from day one. This ever-present threat can often increase the settlement value of our plaintiffs’-side cases. We recently secured a 9-figure settlement for a pharmaceutical company in several contract disputes arising out of drug and device development collaboration and licensing agreements, without even having to file suit or request arbitration.
For four of the last five years (2012, 2013, 2014, 2015), Law360 has recognized Quinn Emanuel as one of the “Fearsome Foursome” of firms that in-house counsel least like to see on the other side. The award is based on approximately 300 interviews with general counsels and other legal department heads. We were the only firm in this foursome in any of those years that has a significant plaintiffs-side practice. This reputation often drives results.
Yet we are not a typical “plaintiffs’ firm.” Our lawyers practice on both sides of the “v,” giving them deep insights into how to successfully prosecute cases against corporate defendants. Our experience defending Fortune 100 companies allows us to see the big picture when representing plaintiffs—a significant edge over firms who confine their practice to representing plaintiffs. We also have the type of credibility with both defendants and defense counsel that comes uniquely from successfully practicing on the defense side. And this credibility brings great benefits to our clients that are plaintiffs.
We are far larger than any other firm that does a significant amount of plaintiffs’ work , a fact that makes us uniquely suited to go head-to-head against the biggest corporations in the world. We have the resources and experience to prosecute any case, from complex technical patent cases to the world’s most sophisticated financial frauds or conspiracies that violate the antitrust laws. In some cases, we have taken on a dozen of the largest Wall Street banks at once—and secured massive recoveries. With over 720 lawyers, we are never outgunned. And with offices all over the world, we can go wherever necessary to vindicate our clients’ claims.
In addition to being trial lawyers, we also offer our clients one of the leading appellate practices in the nation. Our trial and appellate lawyers collaborate to make sure we are ready to defend our victories and to overturn any adverse decisions. And we also have a roster of bankruptcy litigators, who can pursue claims in bankruptcy or take necessary steps to collect on judgments won through litigation.
A Proven Track Record of Success
The following cases are examples of recent successes:
In In re Credit Default Swaps Antitrust Matter, we served as lead counsel for a class of investors and funds that alleged that twelve major Wall Street banks, including Bank of America, Goldman Sachs, and JPMorgan, as well as Markit, a financial services firm, and the International Swaps and Derivatives Association, secretly conspired to block competition and transparency in the CDS market. We rapidly achieved an historic settlement of over $1.86 billion plus injunctive relief, one of the largest private antitrust settlements in history. The settlement is particularly noteworthy because two separate governmental investigations—by the Department of Justice and the European Commission—failed to result in any penalties for any of the defendants. At the final approval hearing, the district court explained the settlement “particularly its size, is attributable in no small measure to the skill of class counsel and the litigation strategy it employed.” In his declaration supporting the terms of the settlement, the mediator, the Honorable Daniel Weinstein (Ret.), stated:
“I would go so far as to say that, in 30-plus years of mediating high-stakes disputes, this was one of the finest examples of efficient and effective lawyering by plaintiffs’ counsel that I have ever witnessed. I have rarely, if ever, observed a Plaintiff in a case of this complexity and size, achieve a result of this magnitude with the speed that Plaintiffs achieved here.”
In a truly historic partnership between a regulator and a private firm, we represent the Federal Housing Finance Agency, as Conservator for Fannie Mae and Freddie Mac, in connection with its investigation and litigation of residential mortgage-backed securities. We filed fourteen complaints, asserting billions in damages, against most major investment banks asserting federal and state “strict liability” statutory claims arising out of misrepresentations about the securities, and certain complaints assert common law fraud claims. As widely reported, this is one of the most significant court actions taken by any federal regulator since the advent of the mortgage crisis, and the single largest set of actions ever filed by a governmental entity.
We represented the Official Committee of Unsecured Creditors of Lehman Brothers Holdings Inc. in litigation against JPMorgan Chase Bank, N.A. concerning collateral JPMorgan obtained from Lehman pre-petition and the close out of derivatives transactions between the two institutions post-petition, resulting in a settlement that included a cash payment by JPMorgan to the Lehman estate of over $1.4 billion. We are currently representing that same Lehman Brothers entity as lead counsel litigating LBHI’s objections to claims by Citibank, N.A. and affiliates (“Citibank”) related to the close-out and valuation of tens of thousands of derivatives following Lehman’s bankruptcy in September 2008. Under governing ISDA Master Agreements, Lehman’s trading counterparties were directed to determine the value of their derivatives trades following Lehman’s bankruptcy. LBHI’s objections sought a significant reduction to the amounts claimed by Citibank, which totaled more than $2 billion, relating to approximately thirty thousand derivatives trades on a variety of grounds including that Citibank failed to act in a commercially reasonable manner when valuing the derivatives in question. Quinn Emanuel engaged in almost five years of fact and expert discovery involving more than 1.4 million documents, thirty expert witnesses, and approximately 170 fact and expert depositions in addition to briefing summary judgment and pre-trial motions. After 42 days of trial over the course of four months, at around the expected halfway point in trial, LBHI announced that it had reached a settlement with Citibank that will return $1.75 billion to Lehman’s creditors. Lehman’s motion for approval of that settlement is currently pending before the Bankruptcy Court with a hearing scheduled for October 13.
We have represented one of the United States’ largest manufacturers in recovering almost $500 million to date on claims related to a worldwide bid-rigging and customer allocation conspiracy. In achieving these results, we utilized attorneys in both the U.S. and abroad to ensure the most comprehensive recovery for our client. We worked with experts to develop a compelling framework for resolving claims without litigations. Attorneys in QE offices around the world operated seamlessly to maximize results in different venues.
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