Cohen Milstein covers the Eastern seaboard with offices in Washington, DC, Philadelphia, New York, Palm Beach Gardens and Raleigh, and services the Midwest through a Chicago office. Peers on both the defense and plaintiff sides of the “V” have voiced appreciation for the firm’s zealous approach. “I have always regarded them highly,” declares one plaintiff peer. “They have been mainly regarded as an antitrust firm, but they also so some work in securities and appear to be doing more of this. We happen to have a case where we are co-lead with them. They are smart lawyers.” The firm also has a noted employment, civil rights and ERISA practice. The firm made news in 2019 when a federal judge in Illinois to co-lead shareholder litigation against money transfer entity MoneyGram International, who, in November 2018, agreed to pay $125 million to resolve allegations that it failed to crack down on fraudulent money transfers.
The majority of Cohen Milstein’s star power is concentrated in its DC home base. Managing partner Steven Toll is a celebrated figure among the plaintiffs bar and a “feared but respected adversary” of defense lawyers. Toll has been at the helm of several recent milestone wins, including securing a ruling from the DC Circuit Court of Appeals that reinstated a suit against electronics maker Harman International Industries. A $28.25 million settlement was achieved in this action in 2017. Toll was also co-lead counsel in the BP Securities class action securities fraud lawsuit that arose from the Deepwater oil spill in the Gulf of Mexico. The Fifth Circuit Court of Appeals affirmed the certification of the class of investors alleged to have been injured by BP’s misrepresenting the amount of oil spilling into the Gulf of Mexico, and thus minimizing the extent of the cost and financial impact to BP of the cleanup and resulting damages. In February 2017, the court granted final approval to a $175 million settlement reached between BP and lead plaintiffs for the “post-explosion” class. Julie Reiser attends to a practice that straddles antitrust, securities and ERISA matters. Reiser has led litigation teams in several major class actions and has secured landmark settlements, including a $500 million settlement related to Countrywide’s issuance of mortgage-backed securities and a shareholder derivative suit against Wynn Resorts, with a net settlement value of $90 million.
While the DC partners are some of the firm’s most established, partners in other offices, particularly on the younger end of the spectrum, are also moving to the fore and garnering peer attention. Lauren Posner in the New York office is tipped by peers as a future star. “I’m sure she’ll be put in charge of many of their high-end cases,” forecasts a peer.