Barbara A. Podell
Barbara A. Podell is a shareholder in the Securities practice group at Berger Montague. She concentrates her practice on securities class action litigation.
Ms. Podell was one of the firm’s senior attorneys representing the Pennsylvania State Employees’ Retirement System (“SERS”) as the lead plaintiff in the In re CIGNA Corp. Sec. Litig., No. 02-CV-8088 (E.D. Pa.), a federal securities fraud class action in which SERS moved for, and was appointed, lead plaintiff. CIGNA allegedly concealed crucial operational problems, which, once revealed, caused the company’s stock price to fall precipitously. The firm obtained a $93 million settlement. This was a remarkable recovery because there were no accounting restatements, government investigations, typical indicators of financial fraud, or insider trading. Moreover, the case was settled on the eve of trial (22.7% of losses recovered).
Before joining Berger Montague, Ms. Podell was a founding member of Savett Frutkin Podell & Ryan, P.C., and before that, a shareholder at Kohn, Savett, Klein & Graf and an associate at Dechert LLP, all in Philadelphia.
Business and Community Leadership
- Member of The Women’s Committee of The Philadelphia Museum of Art
- Docent, The Barnes Foundation in Philadelphia
- Volunteer Guide, Philadelphia Museum of Art and the Rodin Museum in Philadelphia
- Chair, Executive Committee of the Philadelphia Museum of Art Weekend Guides, 2016-2018; Member of Executive Committee, 2012-present
- Chair of the 2007 annual fundraising gala for the Lower Merion Conservancy; co-chair for the 2010 gala
Prominent Judgments and Settlements
- In re Cigna Corp. Sec. Litig. ($93 million settlement)
- Dodona I LLC v. Goldman, Sachs & Co., ($27.5 million settlement)
- Aetna ($81.5 million settlement) (Savett Frutkin)
- In re Toll Bros. Sec. Litig. ($25 million settlement)
- In re Cryolife Sec. Litig. ($23.5 million settlment)
- In re Fifth Third Securities Litigation ($16 million settlement)
- In re Viropharma Sec. Litig. ($9 million settlement)
- In re Hemispherx Biopharma Sec. Litig. ($3.6 million settlement)