Case 3:10-Cv-04841-FLW-DEA Document 113-7 Filed 10/10/13 Page 1 of 46 Pageid: 2340
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Case 3:10-cv-04841-FLW-DEA Document 113-7 Filed 10/10/13 Page 1 of 46 PageID: 2340 UNITED STATES DISTRICT COURT DISTRICT OF NEW JERSEY RONALD MONK, Individually and on Behalf of Civil Action No. 10-4841 (FLW) (DEA) All Others Similarly Situated, Plaintiff, vs. JOHNSON & JOHNSON, WILLIAM C. WELDON, DOMINIC 1. CARUSO, COLLEEN A. GOGGINS and PETER LUTHER, Defendants. DECLARATION OF DAVID KESSLER IN SUPPORT OF LEAD COUNSEL'S MOTION FOR AN AWARD OF ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES FILED ON BEHALF OF KESSLER TOPAZ MELTZER & CHECK, LLP DAVID KESSLER declares as follows: 1. I am a partner of the law firm of Kessler Topaz Meltzer & Check, LLP. I submit this declaration in support of Lead Counsel's application for an award of attorneys' fees in connection with services rendered in the above-captioned action (the "Action"), as well as for reimbursement of expenses incurred by my firm in connection with the Action. 2. My firm, which served as Lead Counsel in this Action, was involved in all aspects of the litigation and its settlement as set forth in the Declaration of Matthew L. Mustokoff in Support of Final Approval of Settlement, Plan of Allocation and Application for an Award of Attorneys' Fees and Expenses. 3. The schedule attached hereto as Exhibit 1 is a summary indicating the amount of time spent by each attorney and professional support staff employee of my firm who was involved in the Action, and the lodestar calculation based on my firm's current billing rates. For Case 3:10-cv-04841-FLW-DEA Document 113-7 Filed 10/10/13 Page 2 of 46 PageID: 2341 personnel who are no longer employed by my firm, the lodestar calculation is based upon the billing rates for such personnel in his or her final year of employment by my firm. The schedule was prepared from contemporaneous daily time records regularly prepared and maintained by my firm, which are available at the request of the Court. Time expended in preparing this application for fees and reimbursement of expenses has not been included in this request. 4. The hourly rates for the attorneys and professional support staff in my firm included in Exhibit 1 are the same as the regular rates that would be charged for their services in non-contingent matters and/or which have been accepted in other securities or shareholder litigation. 5. The total number of hours expended on this Action by my firm from its inception through and including August 23, 2013, is 8,362.80. The total lodestar for my firm for that period is $3,543,961.75, consisting of $3,193,823.00 for attorneys' time and $350,138.75 for professional support staff time. 6. My firm's lodestar figures are based upon the firm's billing rates, which rates do not include charges for expense items. Expense items are billed separately and such charges are not duplicated in my firm's billing rates. 7. As detailed in the schedule attached hereto as Exhibit 2, my firm has incurred a total of $360,474.21 in unreimbursed expenses in connection with the prosecution ofthis Action. 8. The expenses incurred in this Action are reflected on the books and records ofmy firm. These books and records are prepared from expense vouchers, check records and other source materials and are an accurate record ofthe expenses incurred. 9. With respect to the standing of my firm, attached hereto as Exhibit 3 is a brief biography of my firm and attorneys in my firm who were principally involved in this Action. Case 3:10-cv-04841-FLW-DEA Document 113-7 Filed 10/10/13 Page 3 of 46 PageID: 2342 I declare, under penalty ofperjury, that the foregoing facts are true and correct. Executed on October!t, 2013. DAVID KESSLER Case 3:10-cv-04841-FLW-DEA Document 113-7 Filed 10/10/13 Page 4 of 46 PageID: 2343 EXHIBIT 1 KESSLER TOPAZ MELTZER & CHECK, LLP Monk v. Johnson & Johnson et al. Civil Action No. 10-cv-4841 (FLW) (DEA) LODESTAR REPORT Time Period: Inception through August 23,2013 ~......... HOURLY NAMEIDESIGNATION HOURS LODESTAR RATE Partners Abadou, Ramzi $675.00 42.30 $28,552.50 , Amjed, Naumon A. $600.00 30.60 $18,360.00 I I Berman, Stuart L. $700.00 41.90 $29,330.00 • Gregory $700.00 98.50 $68,950.00 Justice, Kimberly $625.00 309.20 $193,250.00 Mustokoff, Matthew $625.00 1,009.20 $630,750.00 Topaz, Marc A. $735.00 0.70 $514.50 Associates D' Ancona, Joshua E. $425.00 366.60 $155,805.00 Danek, Mark $500.00 48.50 $24,250.00 Enck, Jennifer $475.00 91.30 $43,367.50 Kaskela, Seamus $400.00 22.80 $9,120.00 Lambert, Meredith $360.00 847.40 $305,064.00 • Pederson, Lauren (Counsel) $550.00 238.10 $130,955.00 Case 3:10-cv-04841-FLW-DEA Document 113-7 Filed 10/10/13 Page 5 of 46 PageID: 2344 Staff Attorneys ~ Audi, Ali $395.00 144.90 $57,235.50 Mattuc<?~, Patrick $375.00 1,130.20 $423,825.00 QIShea, William F. $395.00 1,269.60 $501,492.00 Rosseel, Allyson M. $395.00 173.80 $68,651.00 Washington, Zakiya M. $375.00 105.90 $39,712.50 • Weiler, Kurt W. $395.00 1,176.30 $464,638.50 Investigators • Rabbiner, David I $450.00 115.05 $51,772.50 Bochet, Jason $325.00 102.50 $33,312.50 Evans, John $325.00 9.50 $3,087.50 Maginnis, Jamie $325.00 62.80 $20,410.00 Marshall, Kate $225.00 39.30 $8,842.50 Molina, Henry $325.00 426.55 $138,628.75 Paralegals Chiappinelli, Christiane $225.00 18.00 $4,050.00 Hebard, Sarah $250.00 17.00 $4,250.00 Maytorena, Dafne $200.00 405.80 $81,160.00 Nguyen, Katherine $250.00 18.50 $4,625.00 TOTALS: 8,362.80 $3,543,961.75 Case 3:10-cv-04841-FLW-DEA Document 113-7 Filed 10/10/13 Page 6 of 46 PageID: 2345 EXHIBIT 2 KESSLER TOPAZ MELTZER & CHECK, LLP Monk v. Johnson & Johnson et al. Civil Action No. 10-cv-4S41 (FLW) (DEA) EXPENSE REPORT CATEGORY AMOUNT i • Court Fees $2,791.00 Process Server $290.00 On-Line Research $12,422.07 TelephoneslFaxes $125.02 • • Postage & Express Mail $911.45 i Internal Reproduction Costs $5,722.50 Travel (Meals, Hotels and Transportation) $9,705.66 Web Hosting Document Review $16,744.21 Press Releases and Notices $200.00 Mediation $37,1 Experts $274,405.68 TOTAL EXPENSES: $360,474.21 Case 3:10-cv-04841-FLW-DEA Document 113-7 Filed 10/10/13 Page 7 of 46 PageID: 2346 EXHIBIT 3 KESSLER TOPAZ MELTZER & CHECK, LLP Monk v. Johnson & Johnson et at. Civil Action No.10-cv-4S41 (FLW) (DEA) FIRM RESUME AND BIOGRAPHIES Case 3:10-cv-04841-FLW-DEA Document 113-7 Filed 10/10/13 Page 8 of 46 PageID: 2347 KESSLERTOPAZ ME;LTZERCHECKLLP 280 King of Prussia Road, Radnor, Pennsylvania 19087·610-667-7706· Fax: 610-667-7056· [email protected] One Sansome Street, Suite 1850, San Francisco, CA 94104·415-400-3000· Fax: 415-400-3001 • [email protected] www.ktmc.com FIRM PROFILE Since 1987, Kessler Topaz Meltzer & Check, LLP has specialized in the prosecution of securities class actions and has grown into one of the largest and most successful shareholder litigation firms in the field. With offices in Radnor, Pennsylvania and San Francisco, California, the Firm is comprised of 94 attorneys as well as an experienced support staff consisting of over 80 paralegals, in-house investigators, legal clerks and other personnel. With a large and sophisticated client base (numbering over 180 institutional investors from around the world -- including public and Taft-Hartley pension funds, mutual fund managers, investment advisors, insurance companies, hedge funds and other large investors), Kessler Topaz has developed an international reputation for excellence and has extensive experience prosecuting securities fraud actions. For the past several years, the National Law Journal has recognized Kessler Topaz as one of the top securities class action law firms in the country. In addition, the Legal Intelligencer recently awarded Kessler Topaz with its Class Action Litigation Firm of The Year award. Lastly, Kessler Topaz and several of its attorneys are regularly recognized by Legal500 and Benchmark: Plaintiffs as leaders in our field. Currently, Kessler Topaz is serving as lead or co-lead counsel in many of the largest and most significant securities class actions pending in the United States, including actions against: Bank of America, Duke Energy, Lehman Brothers, Hewlett Packard, Johnson & Johnson, JPMorgan Chase, Morgan Stanley, Pfizer, and MGM Mirage, among others. As demonstrated by the magnitude of these high-profile cases, we take seriously our role in advising clients to seek lead plaintiff appointment in cases, paying special attention to the factual elements of the fraud, the size of losses and damages, and whether there are viable sources of recovery. Kessler Topaz has recovered billions of dollars in the course of representing defrauded shareholders from around the world and takes pride in the reputation we have earned for our dedication to our clients. Kessler Topaz devotes significant time to developing relationships with its clients in a manner that enables the Firm to understand the types of cases they will be interested in pursuing and their expectations. Further, the Firm is committed to pursuing meaningful corporate governance reforms in cases where we suspect that systemic problems within a company could lead to recurring litigation and where such changes also have the possibility to increase the value of the underlying company.