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Securities Fraud Representative Settlements

Michael Milken and Associates Securities Litigation

Status:Settled
Settlement Amount: $1.3 billion
Practice Area(s): Securities Litigation
As court-appointed liaison counsel, the firm was one of four lead counsel who structured the $1.3 billion "global" settlement of all claims pending against Michael R. Milken, over 200 present and former officers and directors of Drexel Burnham Lambert,...

Mutual Funds Investment Litigation (Scudder)

Status:Settled
Settlement Amount: $14 million
Practice Area(s): Securities Litigation
The firm served as Lead Counsel for a class of investors in Scudder/Deutsche Bank/ mutual funds in the nationwide Mutual Funds Market Timing cases. These cases recovered over $300 million for mutual fund purchasers and holders against various...

New Jersey v. Qwest Communications International

Status:Settled
Settlement Amount: $45 million
Practice Area(s): Securities Litigation
The Berger firm represented the pension funds for public employees in the State of New Jersey seeking to recover losses on their investments in Qwest common stock. The action settled for $45 million.

Nuvelo, Inc. Securities Litigation

Status:Settled
Settlement Amount: $8.9 million
Practice Area(s): Securities Litigation
Berger & Montague is co-lead counsel for the class in the Nuvelo Securities Litigation. The consolidated complaint alleges, among other things, that defendants misled investors by repeatedly trumpeting prior clinical success in the ongoing clinical...

Oppenheimer Rochester Funds Group Securities Litigation

Status:Settled
Settlement Amount: $89.5 million
Practice Area(s): Securities Litigation
Berger & Montague is pleased to inform shareholders who invested in certain municipal bond funds managed by OppenheimerFunds, Inc. and distributed by OppenheimerFunds Distributor, Inc. that the Lead Plaintiffs in six consolidated class action lawsuits have reached an $85.9 million settlement with OppenheimerFunds, Inc. and other Defendants.

Pennsylvania Public School Employees' Retirement System v. Time Warner, Inc.

Status:Settled
Settlement Amount: $23 million
Practice Area(s): Securities Litigation
The Berger firm represented a group of pension funds seeking to recover for losses on their investments in AOL/Time Warner common stock. The case settled for $23 million.

Premiere Technologies, Inc. Securities Litigation

Status:Settled
Settlement Amount: $20 million
Practice Area(s): Securities Litigation
The firm, as co-lead counsel, obtained a class settlement of over $20 million in combination of cash and common stock

PSINet, Inc. Securities Litigation

Status:Settled
Settlement Amount: $17.8 million
Practice Area(s): Securities Litigation
The firm, as co-lead counsel, obtained a settlement of $17.83 million on behalf of investors.

Rite Aid Corp Securities Litigation

Status:Settled
Settlement Amount: $334 million
Practice Area(s): Securities Litigation
The firm, as co-lead counsel, obtained settlements totaling $334 million against Rite Aid's outside accounting firm and certain of the company's former officers.

RJR Nabisco Securities Litigation

Status:Settled
Settlement Amount: $72 million
Practice Area(s): Securities Litigation
In this action, Berger & Montague represented individuals who sold RJR Nabisco securities prior to the announcement of a corporate change of control. This securities case settled for $72 million.

Rossdeutscher v. Viacom

Status:Settled
Settlement Amount: $14.2 million
Practice Area(s): Corporate Governance & Shareholder Rights , Securities Litigation
The firm, as lead counsel, obtained a settlement resulting in a fund of $14.25 million for the class. The Complaint alleged that defendant Viacom artificially inflated its stock price to avoid paying the CVR/VCR holders the full amount of consideration to which they were entitled.

Safety-Kleen Corp. Securities Litigation

Status:Settled
Settlement Amount: $45 million
Practice Area(s): Securities Litigation
The firm, as co-lead counsel, obtained a class settlement in the amount of $45 million against Safety-Kleen's outside accounting firm and certain of the Company's officers and directors. The final settlement was obtained 2 business days before the...

Sepracor Inc. Securities Litigation

Status:Settled
Settlement Amount: $52.5 million
Practice Area(s): Securities Litigation
The firm, as co-lead counsel, obtained a settlement of $52.5 million for the benefit of bond and stock purchaser classes.

Silver v. UICI

Status:Settled
Settlement Amount: $16 million
Practice Area(s): Securities Litigation
The firm, as co-lead counsel, obtained a settlement resulting in a fund of $16 million for the class.

Sotheby's Holding, Inc. Securities Litigation

Status:Settled
Settlement Amount: $70 million
Practice Area(s): Securities Litigation
The firm, as lead counsel obtained a $70 million settlement, of which $30 million was contributed, personally, by an individual defendant

Sunbeam Inc. Securities Litigation

Status:Settled
Settlement Amount: $141 million
Practice Area(s): Securities Litigation
As co-lead counsel, the firm obtained a settlement on behalf of investors of $141 million in the action against Sunbeam's outside accounting firm and Sunbeam's officers.

The City of Hialeah Employees' Retirement System v. Toll Brothers Inc.

Status:Settled
Settlement Amount: $25 million
Practice Area(s): Securities Litigation
Plaintiffs alleged Defendant Toll Brothers Inc. made misleading statements between December 2004 and November 2005 regarding its current and future conditions and failed to disclose adverse developments that were negatively affecting the business. ...

The Drexel Burnham Lambert Group, Inc.

Status:Settled
Settlement Amount: $2 billion
Practice Area(s): Securities Litigation
The firm was appointed co-counsel for a mandatory non-opt-out class consisting of all claimants who had filed billions of dollars in securities litigation-related proofs of claim against The Drexel Burnham Lambert Group, Inc. and/or its subsidiaries....

Walco Investments, Inc. v. Thenen

Status:Settled
Settlement Amount: $141 million
Practice Area(s): Securities Litigation
The firm, as a member of the plaintiffs' steering committee, obtained settlements of $141 million for investors Walco; 947 F. Supp. 491 (S.D. Fla. 1996)). Plaintiffs invested in funding entities that were formed "exclusively" for the purpose of...

Waste Management, Inc. Securities Litigation

Status:Settled
Settlement Amount: $220 million
Practice Area(s): Securities Litigation
In 1999, the firm, as co-lead counsel, obtained a class settlement for investors of $220 million cash which included a settlement against Waste Management's outside accountants.

Xcel Energy Inc. Securities, Derivative & "ERISA" Litigation

Status:Settled
Settlement Amount: $80 million
Practice Area(s): Securities Litigation
The firm, as co-lead counsel in the securities actions, obtained a cash settlement of $80 million on behalf of investors against Xcel Energy and certain of its officers and directors.
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