Podell, Barbara A.

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Address: 1818 Market Street Suite 3600, Philadelphia, PA 19103
Lawyer Firm: Berger Montague
Phone: 888-615-2910
Fax: 215-875-4604
Email:
Website: https://bergermontague.com/practice-areas/false-claims-act-qui-tam-whistleblower-law-firm/

Areas of PracticeSecurities Fraud
Description

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.

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