Firm Background
Johnson & Perkinson (formerly the Law Offices of Dennis J. Johnson) ("J&P") conducts a national practice focusing on securities, ERISA, anti-trust and consumer class-action litigation on behalf of injured investors and consumers and currently serves as lead and co-lead counsel in various class action cases, including: In re: Xerox Sec. Litig., No. 3:00-CV-1621 (AWT) (D. Conn.) and In re: Priceline Sec. Litig., No. 3:00-CV-1884 (DJS) (D. Conn.). In addition, J&P serves on the executive committee sharing responsibility for numerous aspects of the class action litigation in In re: Global Crossing Ltd. Sec. Litig., 02-CV-910 (GEL) (S.D.N.Y.) and as a member of the Purchase Claims Class Action Sub-Committee in In re Vioxx Products Liability Litig., MDL 1657 (E.D. La.) Additionally, while not designated "lead counsel," J&P has been actively involved in the multi-year discovery program being conducted in In re Initial Public Offering Sec. Litig., 21 MC 92 (SAS). J&P is one of Plaintiffs' counsel in various actions alleging price fixing and/or anti-competitive behavior on behalf of indirect purchasers including In re Static Random Access Memory (SRAM) Antitrust Litigation, MDL Docket No. 1819; In re TFT-LCD (Flat Panel) Antitrust Litigation, MDL Docket No. 1827; In re Graphics Processing Units Antitrust Litigation, MDL Docket No. 1826; and In Re BP Products North America, Inc. Antitrust Litigation, MDL Docket No. 1801.
Of all plaintiffs' law firms conducting securities class actions, Securities Class Action Services, a wholly-owned subsidiary of Institutional Shareholder Services that maintains the leading database on securities class action litigation, ranked J&P 32nd for the overall dollar amount of securities class action settlements and 15th for the average amount of securities class action settlements achieved in 2007 and rated J&P 17th for the overall dollar amount of securities class action settlements and 6th for the average amount of securities class action settlements achieved in 2004.
Among J&P's recent accomplishments are the following: In April 2008, J&P, as one of three Co-Lead Counsel in the Xerox case set forth above, obtained preliminary approval for a $750 million dollar settlement with Xerox, which will pay $680 million of that amount, and KPMG, Xerox's auditor during the Class Period, which will pay the remaining $80 million. In August 2007, J&P, serving as Co-Lead Counsel, obtained final approval for an $80 million dollar settlement in the Priceline matter listed above. In August 2006, J&P, as one of three Co-Lead Counsel, obtained final approval of a settlement with Sprint Corp. for cash or cash equivalents of $23.9 million, plus various non-monetary benefits, to current and former participants in Sprint's retirement plans in In re Sprint Corp. ERISA Litig., Civil No. 03-CV-2202-JWL (D. Kan), prompting Judge John Lungstrum to comment, "The high quality of Plaintiffs' Counsel's work culminated in the successful resolution of this complex case... Thus, the results obtained by virtue of the settlement are extraordinary..." In May 2006, J&P, the sole Lead Counsel, obtained final approval for an $8.5 million settlement against the Individual Defendants (the company had gone out of business) in In re: Xchange, Inc. Sec. Litig., No. 01-10322 (RWZ) (D. Mass.). In October 2004, J&P, serving as co-lead counsel, obtained final approval of a partial settlement of $84.85 million and significant corporate governance reforms in In re: i2 Tech., Inc. Sec. Litig., No. 3:01-CV-418-H (N. D. Tex.). In May 2005, J&P obtained final approval for settlement against i2's accountant, Arthur Andersen, for an additional $2.9 million. In July 2004, J&P, serving as lead counsel representing a class of Vermont consumers who purchased Microsoft software products alleging violations of Vermont's consumer fraud laws, and following a successful appeal to the Vermont Supreme Court, obtained approval of a settlement valued at $9.7 million in Elkins v. Microsoft Corp., No. 165-4-01 (Windham Sup. Ct.) (Vermont). In 2003, J&P, serving as co-lead counsel, obtained a settlement of $12.026 million in In re: Allaire Corp. Sec. Litig., No. 00-CV-11972 (WGY) (D. Mass). J&P also participated in the prosecution of In re: Compact Disc Minimum Advertised Price Antitrust Litig., M.D.L. 1361 (D. Me.), which resulted in a settlement of $63.375 million in cash and $75.7 million worth of compact disks distributed to not-for-profit, charitable, government and/or public entities.
J&P has successfully collected significant portions of the losses suffered by various classes. For example, the firm was sole lead counsel in Schwartz v. Celestial Seasonings, Inc., No. 95-K-045 (D. Colo.), wherein class members received a return of 30% of their recognized losses after payment of attorney's fees and expenses, prompting Chief Judge Kane to note that "this Court was blessed with vigorous and talented counsel of high standing and reputation on both sides, which made it truly a pleasure to have this case in front of me" and "you've done an excellent job, and you haven't done it without equally competent opposition." Additionally, the firm served as co-lead counsel in Pozzi v. Smith, et al., No. 95-CV-1454 (ER) (E.D. Pa.), resulting in the return of 100% of all recognized losses of all claimants, after the payment of all expenses and attorneys' fees; lead counsel in Savoie v. Merchants Trust Co., No. 2:94-CV-213 (D. Vt.), in which a $9.2 million common fund was created for the benefit of the class, resulting in a recovery for the class of approximately 93% of their out of pocket losses (an additional $2.1 million settlement was recovered in 2001 on behalf of the class by J&P, resulting in an overall recovery of nearly 98%, after payment of attorneys' fees and expenses); lead counsel in Jakobe v. Ben & Jerry's Homemade, Inc., No. 1:95-CV-373 (D. Vt.) resulting in a return to investors of 20% of their recognized losses, after payment of all fees and expenses; lead counsel in Jakobe v. Rawlings Sporting Goods, Inc., No. 4:95-CV-2288 (DJS) (E.D. Mo.), resulting in a return to the class of 22% of their recognized losses, after payment of attorney's fees and litigation expenses; lead counsel in In re: Corvas Inter., Inc. Sec. Litig., No. 93-279 NAJ (CM) (S.D. Cal.), resulting in a return to class members of over 30% of their recognized losses after payment of fees and expenses; lead counsel in In re: New Hampshire Savings Bank Corp., No. 90-227B (D.N.H.), resulting in a return to investors, after payment of fees and expenses, of approximately 28% of the class' recognized losses; and lead counsel in Walsh v. Chittenden Corp., No. 2-91-CV-208 (D. Vt.) which resulted in a return to investors of almost 35% of their recognized losses after payment of fees and expenses and prompted Judge Parker, later a member of the Second Circuit Court of Appeals, to compliment counsel at the settlement hearing for doing "a real good job of lawyering" and indicate that the "documentation and briefing in this case really has been very high caliber all around." J&P was also one of three firms primarily responsible for the litigation effort leading to a $10 million settlement in In re: Fidelity/Micron Sec. Litig., No. 95-12671 (D. Mass.) and actively participated in the discovery proceedings in the antitrust case entitled In re: Nasdaq Market-Makers Antitrust Litig., 94-CV-3996 (S.D.N.Y.) (M.D.L. 1023), in which settlements were reached with thirty brokerage firm defendants for over $1 billion.
