Berman Tabacco

Todd A. Seaver

Partner

Todd A. Seaver

Todd A. Seaver, a partner in the San Francisco office of Berman Tabacco, provides financial justice through his litigation of antitrust and investment-related matters, with a primary focus on litigating antitrust cases. Todd has litigated antitrust cases involving a variety of industries, including high-tech, pharmaceutical, financial derivative, automobile, chemical, consumer electronic, biotech, diamonds and online retailing. He co-leads the firm’s antitrust practice group.

Todd also litigates asset recovery cases on behalf of institutional clients, including leadership of the firm’s landmark action against the major credit rating agencies Moody’s and Standard & Poor’s in connection with structured investment vehicles (SIVs), the most complex type of structured finance product ever marketed.

Todd was ranked in 2017 and 2018 as a Recommended Attorney in Securities Litigation by The Legal 500 and as a Super Lawyer by Northern California Super Lawyers magazine.

He began his career representing large and small businesses in commercial litigation and has participated in trial work. In 2003, Todd was an adjunct law professor with the New England School of Law. While in law school, Todd served as a law clerk at the Federal Trade Commission’s Bureau of Competition and as a judicial extern for the Honorable Ricardo M. Urbina of the U.S. District Court for the District of Columbia, and for the Honorable Judith Retchin of the District of Columbia Superior Court.

Todd is married with two children. His hobbies include wine making and motorcycle racing. He speaks Portuguese and is competent in German.

Experience

  • Presently leads the firm’s class action litigation teams in the firm’s price-fixing/market manipulation cases alleging that major banks colluded to fix the prices of derivatives and other financial instruments by manipulating numerous financial benchmark rates.  Todd represents (i) California State Teachers’ Retirement System in the Euribor, Yen Libor and Swiss franc Libor actions; (ii) Fresno County Employees’ Retirement Association in the Forex action; (iii) the Fire & Police Pension Association of Colorado in the Canadian Dollar Offered Rate (CDOR) action; and (iv) Oklahoma Firefighters Pension and Retirement System and IBEW in the Mexican Bonds price-fixing action.
  • Partner who oversaw, on behalf of direct purchaser plaintiffs, the day-to-day prosecution of the major multi-district antitrust litigation In re Lithium Ion Batteries Antitrust Litigation 13-md-2420-YGR (N.D. Cal.). The lawsuit resulted in settlements totaling $139.3 million for the benefit of battery purchasers, which are pending final approval.
  • Spearheaded the firm’s landmark litigation on behalf of the nation’s largest state pension fund, the California Public Employees’ Retirement System, against the major credit rating agencies in California Public Employees’ Retirement System v. Moody’s Corp. CGC-09-490241 (Cal. Super. Ct. San Francisco Cty.), an action alleging negligent misrepresentations. The firm recovered $255 million from Moody’s and Standard & Poor’s for their “Aaa” ratings on three Structured Investment Vehicles.  The case resulted in the only known court of appeals’ decision that places credit ratings outside free speech protection and designates them actionable opinions.
  • Led efforts for the firm in an antitrust action against Netflix and Wal-Mart in In re Online DVD Rental Antitrust Litigation, 09-cv-2029 (N.D. Cal.), which alleged an unlawful agreement between Netflix and Wal-Mart whereby Wal-Mart agreed to exit the online DVD rental market in exchange for Netflix agreeing not to sell new DVDs to its subscribers. As co-lead counsel, firm achieved a settlement of $27.25 million.
  • Led efforts for the firm as part of the leadership of the direct purchaser plaintiffs’ price-fixing action against makers of optical disk drives in In re Optical Disk Drive, No. 10-md-02143-RS (N.D. Cal.). The case settled in 2013 for a total of $74.9 million.
  • Key member of the firm’s litigation team on the high-profile case In re Cardizem CD Antitrust Litigation, No. 99-01278 (E.D. Mich.), still the leading generic drug competition case, which settled in 2003 for $80 million.

Publications, Presentations & Appearances

  • Presentation, ABA Luncheon CLE series: New Issues In Bringing, Certifying and Settling Antitrust Class Actions
  • ExecSense Webinar presentation, Sept. 21, 2009: EU Decision on the Intel Matter: What Antitrust Counselors Need to Know
  • Presentation, National Conference on Public Employee Retirement Systems, Oct. 11, 2011: Day of Reckoning Nears for Credit Rating Agencies
  • Webinar panel presentation, The Knowledge Group’s Antitrust Expert discussion panel, Sept. 28, 2017: Recent Developments in Antitrust and Competition Law
Todd A. Seaver Partner
San Francisco
44 Montgomery Street
Suite 650
San Francisco, CA 94104

Todd A. Seaver, a partner in the San Francisco office of Berman Tabacco, provides financial justice through his litigation of antitrust and investment-related matters, with a primary focus on litigating antitrust cases. Todd has litigated antitrust cases involving a variety of industries, including high-tech, pharmaceutical, financial derivative, automobile, chemical, consumer electronic, biotech, diamonds and online retailing. He co-leads the firm’s antitrust practice group.

Todd also litigates asset recovery cases on behalf of institutional clients, including leadership of the firm’s landmark action against the major credit rating agencies Moody’s and Standard & Poor’s in connection with structured investment vehicles (SIVs), the most complex type of structured finance product ever marketed.

Todd was ranked in 2017 and 2018 as a Recommended Attorney in Securities Litigation by The Legal 500 and as a Super Lawyer by Northern California Super Lawyers magazine.

He began his career representing large and small businesses in commercial litigation and has participated in trial work. In 2003, Todd was an adjunct law professor with the New England School of Law. While in law school, Todd served as a law clerk at the Federal Trade Commission’s Bureau of Competition and as a judicial extern for the Honorable Ricardo M. Urbina of the U.S. District Court for the District of Columbia, and for the Honorable Judith Retchin of the District of Columbia Superior Court.

Todd is married with two children. His hobbies include wine making and motorcycle racing. He speaks Portuguese and is competent in German.

Education
  • American University Washington College of Law (J.D., cum laude, 1999)
  • London School of Economics (M.Sc., 1995)
  • Boston University (B.A., International Relations, magna cum laude, 1994)
Experience
  • Presently leads the firm’s class action litigation teams in the firm’s price-fixing/market manipulation cases alleging that major banks colluded to fix the prices of derivatives and other financial instruments by manipulating numerous financial benchmark rates.  Todd represents (i) California State Teachers’ Retirement System in the Euribor, Yen Libor and Swiss franc Libor actions; (ii) Fresno County Employees’ Retirement Association in the Forex action; (iii) the Fire & Police Pension Association of Colorado in the Canadian Dollar Offered Rate (CDOR) action; and (iv) Oklahoma Firefighters Pension and Retirement System and IBEW in the Mexican Bonds price-fixing action.
  • Partner who oversaw, on behalf of direct purchaser plaintiffs, the day-to-day prosecution of the major multi-district antitrust litigation In re Lithium Ion Batteries Antitrust Litigation 13-md-2420-YGR (N.D. Cal.). The lawsuit resulted in settlements totaling $139.3 million for the benefit of battery purchasers, which are pending final approval.
  • Spearheaded the firm’s landmark litigation on behalf of the nation’s largest state pension fund, the California Public Employees’ Retirement System, against the major credit rating agencies in California Public Employees’ Retirement System v. Moody’s Corp. CGC-09-490241 (Cal. Super. Ct. San Francisco Cty.), an action alleging negligent misrepresentations. The firm recovered $255 million from Moody’s and Standard & Poor’s for their “Aaa” ratings on three Structured Investment Vehicles.  The case resulted in the only known court of appeals’ decision that places credit ratings outside free speech protection and designates them actionable opinions.
  • Led efforts for the firm in an antitrust action against Netflix and Wal-Mart in In re Online DVD Rental Antitrust Litigation, 09-cv-2029 (N.D. Cal.), which alleged an unlawful agreement between Netflix and Wal-Mart whereby Wal-Mart agreed to exit the online DVD rental market in exchange for Netflix agreeing not to sell new DVDs to its subscribers. As co-lead counsel, firm achieved a settlement of $27.25 million.
  • Led efforts for the firm as part of the leadership of the direct purchaser plaintiffs’ price-fixing action against makers of optical disk drives in In re Optical Disk Drive, No. 10-md-02143-RS (N.D. Cal.). The case settled in 2013 for a total of $74.9 million.
  • Key member of the firm’s litigation team on the high-profile case In re Cardizem CD Antitrust Litigation, No. 99-01278 (E.D. Mich.), still the leading generic drug competition case, which settled in 2003 for $80 million.
Honors & Distinctions
  • Ranked as a Recommended Attorney in Securities Litigation by The Legal 500 (U.S. edition 2017 and 2018)
  • Named a Super Lawyer in 2017 and 2018 by Northern California Super Lawyers magazine, which features the top 5% of attorneys in the region
  • Named by Global Competition Review’s Who’s Who Legal: Competition in 2017 and 2018
  • Named a 2019 Thought Leader in Competition by Who’s Who Legal
  • Ranked as Local Litigation Star by Benchmark Litigation in 2019
Admissions
  • State Bar of California
  • State Bar of New Hampshire
  • State Bar of Massachusetts
  • U.S. Court of Appeals for the Ninth Circuit
  • U.S. District Court for the District of Massachusetts
  • U.S. District Court for the District of New Hampshire
  • U.S. District Court for the Northern District of California
  • U.S. District Court for the Eastern District of California
  • U.S. District Court for the Central District of California
  • U.S. District Court for the Southern District of California
Affiliations
  • Member of the executive committee of the Antitrust Section of the Bar Association of San Francisco for a two-year term (2012-2014)
Publications, Presentations & Appearances
  • Presentation, ABA Luncheon CLE series: New Issues In Bringing, Certifying and Settling Antitrust Class Actions
  • ExecSense Webinar presentation, Sept. 21, 2009: EU Decision on the Intel Matter: What Antitrust Counselors Need to Know
  • Presentation, National Conference on Public Employee Retirement Systems, Oct. 11, 2011: Day of Reckoning Nears for Credit Rating Agencies
  • Webinar panel presentation, The Knowledge Group’s Antitrust Expert discussion panel, Sept. 28, 2017: Recent Developments in Antitrust and Competition Law