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The Legal Intelligencer honors KTMC with the 2024 Class Action Litigation Department of the Year

May 7, 2024

Kessler Topaz is honored to have been named Class Action Litigation Department of the Year by The Legal Intelligencer as a part of the 2024 Pennsylvania Legal Awards! Whether an individual investor, consumer, municipality, or international asset manager, we strive for lasting partnerships, not just case-by-case engagements. At Kessler Topaz, our focus remains on the merits of each case and always ensuring our clients' interests come first.

Check out our interview below to learn more about Kessler Topaz and our approach to class action litigation.

What are the biggest changes you have seen in the class action arena?

We continue to see a wider variety of institutional investors seeking to serve as lead plaintiff in these cases and more active individual investors such suits. We attribute this change to the growing number of publicly-traded companies, many of which are not regularly held in significant and sustained amounts by institutions. Overall, these developments are as a positive for our Firm because (1) we are extremely selective in the cases we pursue and recommend to our clients, so the sheer volume of cases filed is not of great importance to us; and (2) we have long-strived to develop and maintain a diverse client base, discussed below, so we benefit from the larger pool of potential lead plaintiffs.

How will those changes affect the national debate over class action reform?

We understand litigation is not always a client’s first option, and work hard to understand what issues are of importance to them and worth expending their valuable time and effort. Our approach applies to all clients, whether they are an individual investor or consumer, a municipality or state, labor fund, or an international asset manager. We expect to represent our clients over time and not on an engagement to engagement basis.

A prospective client in crisis calls and asks why your team should be retained—what is your answer?

Dealing with a legal crisis requires a calm, considered, and balanced analysis of the situation before rushing to a response. Being confronted with fraud as part of your investments is no different. While there may be significant financial losses and headlines all over the news, a reactionary response is almost never the right response. In all matters, we appreciate that litigation is often a client’s last resort and something they would much prefer to avoid. For this reason, when a client or prospective client comes to us, we quickly deploy significant resources—attorneys, investigators, financial analysts, and other professionals—not just to formulating the more immediate response, but to investigating the issue and developing a long-term strategy that aligns with the client’s goals. Sometimes this means telling clients the hard truths they may not want to hear. In our securities matters, for example, we never make decisions purely based on the size of our clients’ losses or damages, or what we see on the news about the potential misconduct. Not all stock drops and associated losses, while painful for clients, are fraud and warrant litigation. While important considerations, ultimately, the merits of the case and an understanding as to whether our client can actually recover some portion of those losses should carry the day.

What does it take for a litigation department or boutique to succeed in an increasingly competitive environment?

Focusing on clients’ interests and meeting demands is always paramount in our commitment to results. We dedicate significant resources to client relationships, case analysis, and, of course, the prosecution of class actions. We are always very selective in the cases we pursue, which puts our clients in the best position for a positive outcome. Maintaining these core principles continues to serve us well as new challenges arise. Further, we believe our skilled and diverse group of attorneys, investigators, and professional staff fosters a successful environment that is especially important when you are a contingent practice.

Read the Legal Intelligencer Publication Here