DRRT – Securities Law Firm of the Year
We congratulate Alexander Reus, the Managing Partner of DRRT, on winning the law firm of the year award for Securities Law. Below he speaks on how he got into the legal sector and what the award means to him and his firm.
Firstly, as a young scholar what initially prompted you to become a lawyer and how did you eventually become Managing Partner of DRRT?
My father was a judge, his father was a judge and all my uncles were lawyers, so I was early on confronted with legal issues and questions and liked the field. After going through law school in Germany, and having an interest in the common-law system I went to the U.S. on a scholarship to obtain a master’s degree in law at the University of Miami. I extended my stay to also obtain a Juris Doctorate degree in law and became a full-fledged U.S. attorney. I went through three different law firms as associate and partner and then decided to start my own law firm in the international specialty field of investor protection and shareholder litigation. Since 2004 I have been the founder and managing partner of DRRT.
What led you to specialize in securities law and litigation? How did this specialization develop you in your legal career?
The area of shareholder compensation litigation, especially through U.S. class actions, is something completely unknown to European investors, and was very interesting for me. Based on my general as well as international litigation background and the fortunate involvement in several interesting U.S. based shareholder litigation matters for some of the largest German institutions, I quickly developed a deep understanding of the U.S. securities laws and the class action system.
What would you say have been the firm’s biggest steps in the world of investor protection and litigation?
The 2007 landmark Royal Dutch Shell plc settlement for $385 million opened the eyes of every global investor and paved the way for future continental European shareholder litigation in cases against companies such as Vivendi, Fortis, Hypo Real Estate, Royal Bank of Scotland and Volkswagen. It also created precedence for the record-breaking Dutch foundation settlement in 2016 with Ageas fka Fortis for €1.204 billion, the largest in European history. The Olympus JPY 11 billion settlement in 2015 was also a very interesting and challenging achievement in a completely new jurisdiction, within a completely different culture.
On the other hand, what do you believe to have been its biggest professional challenges?
Being in the world of success fees and litigation funding, the financial aspects of taking the risk from the clients and assuming all financial burdens of litigation in various jurisdictions without much statistical data, are very challenging.
What does it feel like to be awarded law firm of the year in this segment, and how do you think it might impact the firm and its team?
It makes me very proud of my team, and the endless efforts and faith they put into each case development and pursuit until the end, to receive this award. The award is not for me but for the entire team, and they deserve it, as they are the reason why we have been the globally known and respected pioneer in shareholder loss recovery efforts.
Over the years, has the firm been able to achieve all its goals, and what are the future priorities of DRRT for the legal world, and for its clients?
The biggest goal is to deliver on promises to our clients, to commit to excellence and to never stop exploring recovery opportunities for our clients. We have made great strides and achievements with respect to expertise and manpower as well as technical abilities in the data review, storage and analysis process, including the claims filing for institutional clients. We want to continue to preserve our great reputation with claims administrators and our 100% client retention and satisfaction rate.
Does the firm have a motto or mantra it lives by in service to its clients?
Clients first, the rest will follow! Success is defined by what we achieve for our clients and investors in general, the rewards are just the secondary benefit.
Why do you think businesses should choose DRRT for investor loss recovery services?
At DRRT we do not only offer class action settlement claims filing in various countries, including the U.S., Canada and Australia, we also provide objective, knowledgeable and free legal analysis to global institutional investors. Given our legal representation and funding of litigation in jurisdictions all over the world on a no-risk basis for clients, we have a unique scope of services.
DRRT pioneers non-U.S. ‘class action alternatives’ by extensively researching foreign laws and leveraging our internal knowledge, experience and capacities in each jurisdiction, even when working together with local experts to pursue investor losses for our clients.
Is there anything else you would like to add?
DRRT generates Legal Alpha and is the place to go for personalised, professional and reliable services in the investor loss recovery area. We are 100% committed to our clients, our cases and covering (meeting) their legal needs from A to Z.