Pomerantz has earned a reputation for prosecuting complex antitrust and consumer class actions with vigor, innovation, and success. Pomerantz’s Antitrust and Consumer Group has recovered billions of dollars for the Firm’s business and individual clients and the classes that they represent. Time and again, Pomerantz has protected our free-market system from anticompetitive conduct, such as price fixing, monopolization, exclusive territorial division, pernicious pharmaceutical conduct, and false advertising. Pomerantz’s advocacy has spanned across diverse product markets, exhibiting the Antitrust and Consumer Group’s versatility to prosecute class actions on any terrain.
Pomerantz has served and is currently serving in leadership or co-leadership roles in several high-profile multi-district litigation class actions. The Firm currently represents a class of lending institutions in New York that originated, purchased outright, or purchased a participation interest in loans paying interest rates tied to the U.S. Dollar Interbank Offered Rate (USD LIBOR), The Berkshire Bank v. Bank of America Corp. (S.D.N.Y.) (2012). It is alleged that the class suffered damages as a result of collusive manipulation by the contributor panel banks that artificially increased the USD LIBOR rate during the class period, causing them to receive lower interest than they would have otherwise.
Pomerantz also currently represents baseball and hockey fans in a potentially game-changing antirust class action against Major League Baseball and the National Hockey League challenging the exclusive territorial division of live television broadcasts, internet streaming, and the resulting geographic blackouts. See Laumann v. NHL and Garber v. MLB (S.D.N.Y.) (2012).
Pomerantz has spearheaded the effort to challenge harmful anticompetitive conduct by pharmaceutical companies—including Pay-for-Delay Agreements—that artificially inflates the price of prescription drugs by keeping generic versions off the market.
Even prior to the 2013 precedential U.S. Supreme Court decision in Actavis, Pomerantz litigated and successfully settled the following generic-drug-delay cases:
· In re Flonase Antitrust Litig. (E.D. Pa.) (2008) ($35 million);
· In re Toprol XL Antitrust Litig. (D. Del.) (2006) ($11 million); and
· In re Wellbutrin SR Antitrust Litig. (E.D. Pa.) (2004) ($21.5 million).
Pomerantz’s results speak for themselves. Pomerantz served as liaison counsel, a member of plaintiffs’ executive committee, and represented the largest retailer class representative in In re Payment Card Interchange Fee & Merch. Disc. Antitrust Litig. (E.D.N.Y., Dec. 13, 2013). This monumental antitrust class action resulted in a settlement in excess of $7 billion, which is estimated to be the largest-ever U.S. antitrust settlement.
Other exemplary victories include Pomerantz’s prominent role in In re NASDAQ Mkt.-Makers Antitrust Litig. (S.D.N.Y.), which resulted in a settlement in excess of $1 billion for class members, one of the largest antitrust settlements in history. Pomerantz also played prominent roles in In re Sorbates Direct Purchaser Antitrust Litig. (N.D. Cal.), which resulted in over an $82 million recovery, and in In re Methionine Antitrust Litig. (N.D. Cal.), which resulted in a $107 million recovery. These cases illustrate the resources, expertise, and commitment that Pomerantz’s Antitrust Group devotes to prosecuting some of the most egregious anticompetitive conduct.