Daniel S. Drosman

Securities

Securities fraud attorney Daniel S. Drosman is always ready to go to trial, even if it’s more likely a case will be settled on the courthouse steps.

“We’re prepared to go to trial, and we’re prepared to prevail,” he said. “That’s one of the secrets to my success. We’re ready to go.”

Drosman is a partner at Robbins Geller Rudman & Dowd LLP’s San Diego office and a member of the firm’s management committee. He focuses on securities fraud and other complex civil litigation.

Drosman’s preparation process worked well in a recent case where he served as co-class counsel for plaintiff National Elevator Industry Pension Fund against Twitter, Inc. in a securities fraud class-action lawsuit. In re Twitter Securities Litigation, 4:16-cv-05314 (N.D. Cal., filed Sept. 16, 2016). In September 2021, on the eve of a federal jury trial in Oakland, Twitter agreed to an $809.5 million settlement on allegations it committed securities fraud by concealing from investors stagnant user growth and declining user engagement.

No party admitted wrongdoing or liability as part of the settlement, which is still subject to final court approval.

Drosman said his cases “really run the gamut” in fields from banking to power plants.

“I’m always getting up to speed on new industries,” he said.

Drosman was part of the Robbins Geller litigation team that obtained a $62.5 million settlement in April 2021 against Sociedad Química y Minera de Chile S.A., a Chilean mining company. Villella v. Chemical and Mining Company of Chile Inc., 1:15-cv-02106 (S.D.N.Y., filed March 19, 2015). The mining company allegedly violated the Securities Exchange Act of 1934 by not disclosing it was illegally channeling money to electoral campaigns for Chilean politicians and political parties as far back as 2009.

Before joining Robbins Geller, Drosman was an assistant district attorney in Manhattan, serving in both the appellate and trial sections; an associate in the New York City office of Weil, Gotshal & Manges LLP; and an assistant United States Attorney in the Southern District of California. He earned his law degree from Harvard Law School.

– Jennifer McEntee