Outstanding Recoveries

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Verdicts & Settlements

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  $500 Million Settlement – Managed Care Litigation

  In re Managed Care Litigation, MDL 1334 (S.D. Fla.)

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  This litigation involved a series of lawsuits by physicians and medical associations alleging that the defendant insurers engaged in a scheme to obstruct, reduce, delay, and deny payments and reimbursements to health care providers. The court approved a similar settlement between a nationwide class of physicians and defendant CIGNA Healthcare valued in excess of $500 million. The settlements produced sweeping changes in the health care industry.
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  $2.4 Billion Settlement – ACTOS Antitrust Litigation

  In re Actos End Payor Antitrust Litigation, Case No. 1:13-cv-09244 (U.S. District Court for the Southern District of New York)

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  Milberg attorneys played a significant role in this litigation, including appointment to the MDL Discovery Committee, which accused Takeda Pharmaceuticals of failing to warn patients of the risks of bladder cancer, heart failure and other side effects associated with the Type 2 diabetes drug. In 2015, roughly 9,000 claims were settled for $2.4 billion and significant injunctive relief.
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  $100 Million Settlement – Chase Bank USA, N.A. “Check Loan” Contract Litigation

  In re Chase Bank USA, N.A. “Check Loan” Contract Litig., No. 09-2032 (N.D. Cal.)

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  Milberg served on the Executive Committee representing the class in this action against JP Morgan Chase & Co. The complaint alleged that Chase improperly increased by 150% the minimum monthly payment required for customers who entered into balance transfer loans with “fixed” interest rates that were guaranteed to remain so for the “life of the loan.” Milberg and its Co-Counsel achieved a $100 million settlement for the class.
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  $775 Million Settlement – Washington Public Power Supply System Securities Litigation

  In re Washington Public Power Supply System Securities Litigation, MDL 551 (D. Ariz.)

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  In this massive securities fraud litigation, Milberg served as Co-Lead Counsel for a class that obtained, after several months of trial, settlements totaling $775 million, the largest securities fraud settlement at that time.
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  $1 Billion+ Trial Verdict – Vivendi Universal, S.A. Securities Litigation

  In re Vivendi Universal, S.A. Securities Litigation, No. 02-CV-5571 (S.D.N.Y.)

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  Milberg was one of two Lead Trial Counsel in this securities fraud case tried to a jury over four months in 2009-2010. The jury found Vivendi liable for dozens of false or misleading statements and awarded damages valued at well over a billion dollars. Six months later, in an unrelated case, the Supreme Court ruled that purchasers on foreign securities exchanges could not recover under U.S. law. Our case against Vivendi continued with post-verdict proceedings under the new standard, and damages have been distributed to U.S. class members totaling over $100 million.