Outstanding Recoveries
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Verdicts & Settlements
Since Milberg’s founding in 1965, the firm has recovered more than $50 billion for our clients while prompting meaningful changes in corporate governance.
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See More$330+ Million Settlement – Rite Aid Corp. Securities Litigation
In re Rite Aid Corp. Securities Litigation, No. 99-1349 (E.D. Pa.)Milberg served as Co-Lead Counsel in this case, in which plaintiffs asserted federal securities fraud claims based on Rite Aid’s alleged failure to disclose material problems with its store expansion and modernization program resulting in artificially inflated earnings. The court-approved settlements totaled over $330 million. -
See More$100 Million Settlement – General Electric Co. ERISA Litigation
In re General Electric Co. ERISA Litigation, No. 04-1398 (N.D.N.Y.)Milberg, serving as Co-Lead Counsel, achieved a $40 million settlement on behalf of current and former G.E. employees who claimed that G.E.’s 401(k) Plan fiduciaries imprudently invested more than two-thirds of the Plan’s assets in company stock. The settlement included important structural changes to G.E.’s 401(k) plan valued at more than $100 million. -
See More$1.14 Billion Settlement – Nortel Networks Corp. Securities Litigation
In re Nortel Networks Corp. Securities Litigation, No. 01-1855 (S.D.N.Y.)Milberg served as Lead Counsel for the class and the court-appointed lead plaintiff, the Trustees of the Ontario Public Service Employees’ Union Pension Plan Trust Fund, in this federal securities class action. In January 2007, the court approved a settlement valued at more than $1.14 billion. -
See More$120 Million Settlement – Deutsche Telekom AG Securities Litigation
In re CVS Corp. Securities Litigation, No. 01-11464 (D. Mass.)Milberg served as Co-Lead Counsel in this securities action on behalf of a class of purchasers of American Depository Receipts. The plaintiffs alleged that Deutsche Telekom improperly failed to disclose plans to make a major corporate acquisition and overstated the value of real estate assets. In 2005, following extensive discovery, including depositions in Germany, the court approved a $120 million cash settlement. -
See More$1+ Billion Settlement – Merck & Co., Inc. Securities Litigation
In re Merck & Co., Inc. Securities Litigation, Nos. 05-1151 and 05-2367 (D.N.J.)Milberg served as Co-Lead Counsel in this federal securities fraud class action, and after more than 12 years of hard-fought litigation, ultimately obtained a combined settlement totaling $1.062 billion, the largest securities class action settlement ever against a pharmaceutical company. The Court described the settlement as “a settlement which is fair and just and which, in fact, is the best settlement which possibly could have been achieved in this case.”
