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Ira Neil Richards

Partner
T 215-751-2503

    Ira Neil Richards is a partner in the Firm and Chair of the Firm’s Class Action Practice Group.

    Mr. Richards practices nationally representing clients in complex litigation matters. He has decades of experience in litigating complex, multiparty class actions for businesses and government agencies on both the plaintiffs’ and defendants’ sides. His class action experience spans a variety of substantive areas, including antitrust, securities, and consumer matters. He also represents clients in matters involving issues of corporate governance disputes, partnership and shareholder disputes, mergers and acquisitions, and securities sales and valuations. In addition, Mr. Richards represents government agencies in matters under state and federal law. As an appellate advocate, Mr. Richards has argued cutting edge issues in federal and state appellate courts.


    AREAS OF EXPERIENCE

    Securities
    Mr. Richards' securities experience includes:
    • Served as co-counsel for four Pennsylvania government funds in litigation arising from the funds’ purchases of AOL and Time Warner securities. The litigation resulted in a $23 million settlement for the funds.
    • Served as co-lead counsel in the class action matter, In re KLA Tencor Securities Litigation (N.D. Cal.), obtaining a $65 million settlement for the class of securities purchasers.
    • Litigated claims relating to corporate governance and mergers and acquisitions, including a key role as counsel for plaintiffs in Lucas v. Hill, (D. NJ), which involved claims relating to the management of Commerce Bank and TD Bank’s acquisition of Commerce.

    Antitrust
    In the antitrust field, Mr. Richards' experience includes:
    • Served as co-lead counsel for the plaintiffs in the class action matter, In re Pillar Point Partners Patent and Antitrust Litigation, MDL No. 1202 (D. Ariz.), a multidistrict litigation involving antitrust claims asserted against manufacturers of excimer lasers used in vision correction procedures. The litigation resulted in a $50 million settlement on behalf of a class of direct purchasers.
    • Served as co-lead counsel for the plaintiffs in the class action matter, In re Pressure Sensitive Labelstock Antitrust Litigation, MDL No. 1556 (M.D. Pa.), which resulted in settlements totaling over $46 million for the class in multidistrict litigation involving allegations of market allocation, output restriction, and price fixing.
    • Served as co-lead counsel and a member of the trial team in an action against the major domestic airlines, see In re Airline Ticket Commission Antitrust Litigation, 898 F. Supp. 685 (D. Minn. 1995), which resulted in an $86 million settlement for travel agency owners.
    • Served as counsel in a class action brought on behalf of direct purchasers of private label tape, alleging monopolization of the tape market in In Meijer, Inc. v. 3M (E.D. Pa). The litigation resulted in a $28.8 million settlement for the class.

    Complex Commercial and Government Litigation
    • Represented the co-owner of a general partner in a dispute over the efforts of the other co-owner to force a sale of the single, significant asset of the partnership, defeating an effort by the other co-owner to obtain an injunction to force a sale.
    • Represented a Montgomery County municipality in a dispute over the development and condemnation of a condominium project, obtaining a substantial trial judgment against the developer and negotiating an agreement with public and private entities to repurpose the project to benefit the community.
    • Represented a government agency in defending a dispute alleging a de facto condemnation of property and in connection with proceedings to value the property following a de jure condemnation.
    • Represented a municipal government and obtained dismissal of a class action seeking medical monitoring and damages for alleged injuries.

    COMMUNITY ACTIVITIES

    Mr. Richards is actively involved in the community, having served on a variety of boards of organizations devoted to the needs of underserved communities. He presently serves on the Board of Pathways to Housing PA, which uses a “housing first” model to combat homelessness.

    Mr. Richards is also active in politics and chairs the firm’s Political Action Committee. He is also a certified yoga teacher.

    Education

    • University of Pennsylvania Law School, J.D., magna cum laude, 1986
    • Cornell University, B.S., industrial and labor relations, 1983

    Court Admissions

    • U.S. Supreme Court
    • U.S. District Court for the Eastern District of Pennsylvania
    • U.S. District Court for the Middle District of Pennsylvania
    • U.S. District Court for the Southern District of New York
    • U.S. District Court for the District of Nebraska
    • U.S. Court of Appeals for the Third Circuit
    • U.S. Court of Appeals for the Second Circuit
    • U.S. Court of Appeals for the Eighth Circuit

    Bar Admissions

    • Pennsylvania, 1987
    • New York, 1987

    Other Distinctions

    • Pennsylvania "Super Lawyer," 2004-2016
    • Philadelphia Business Journal "40 Under 40," 1999