Michael Schrag has nearly 20 years of experience representing individual and small business plaintiffs in a broad range of complex class actions against large corporations in litigation concerning banking, credit cards, telecommunications, and real estate. He has also successfully litigated product liability, personal injury, medical malpractice, employment, and contingent breach of contract cases.
Michael currently serves as Co-Lead counsel in Beaver v. Tarsadia Hotels, in which the court granted plaintiffs’ summary judgment on the issue of liability in a large unfair competition class action against real estate developers. He represents small business owners in a RICO and fraud action against insurer AIG. Michael also represents purchasers of fractional condominium units in actions against developers.
He has helped initiate and prosecute several class actions against Visa, MasterCard, and major U.S. banks, such as Chase and Bank of America, for failing to disclose and fixing the price of currency conversion fees charged to cardholders using credit and debit cards abroad.
Michael is a 1996 graduate of the University of California at Berkeley School of Law (Boalt Hall) and received his undergraduate degree in 1989 from Columbia College at Columbia University. He began his career prosecuting securities class actions and serving as a law clerk to the Honorable Judith N. Keep, U.S. District Judge, Southern District of California. Before joining Gibbs Law Group, Michael was a partner and co-founder of Meade & Schrag, LLP, where he prosecuted class actions and also litigated personal injury, medical malpractice, breach of contract, and business litigation matters.
Michael is of counsel to Girard Gibbs and a partner at Gibbs Law Group.
Ammari v. Pacific Bell Directory – Represented consumers who overpaid an AT&T subsidiary for advertising in Yellow Pages directories. Plaintiffs prevailed at trial and on two appeals to obtain a $27 million judgment for class members, a result the National Law Journal deemed as one of the top 100 verdicts in 2009.
In re Currency Conversion Fee Antitrust Litigation – After prevailing at trial in a related state court action, plaintiffs negotiated a $336 million global settlement for the class in this multidistrict antitrust litigation against the country’s largest credit card issuers and networks.
In re Sulzer Hip Prosthesis and Knee Prosthesis Liability Litigation – Recovered over $10 million on behalf of his clients in this multidistrict litigation that awarded a total of $1 billion to patients who received defective hip implants.