Outstanding Recoveries

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Verdicts & Settlements

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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.
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  $500 Million Settlement – Exxon Valdez

  In re Exxon Valdez, No. 89-095 (D. Alaska)

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  Milberg was a member of the Plaintiffs’ Coordinating Committee and co-chair of the Plaintiffs’ Law Committee in the massive litigation resulting from the Exxon Valdez oil spill in Alaska. The plaintiffs obtained a jury verdict of $5 billion, which, after years of appeals by Exxon, was reduced to approximately $500 million by the United States Supreme Court. The United States Court of Appeals for the Ninth Circuit has since held that plaintiffs are entitled to post-judgment interest on the award in the amount of approximately $470 million.
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  $118+ Million Settlement – Disposable Contact Lens Antitrust Litigation

  In re Disposable Contact Lens Antitrust Litigation, 3:15-md-02626 (U.S. District Court for the Middle District of Florida)

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  Milberg represented indirect purchasers in a class action alleging that defendants conspired to maintain artificially high prices for disposable contact lenses through policies that prevented resale of the subject contact lenses below a minimum price. Settlements exceeded $118 million.
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  $110 Million Settlement – CVS Corp. Securities Litigation

  In re CVS Corp. Securities Litigation, No. 01-11464 (D. Mass.)

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  Milberg served as Co-Lead Counsel in this securities class action alleging that defendants issued false and misleading statements, which artificially inflated the price of CVS stock. In 2005, the court approved a $110 million settlement.
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  $1 Billion Settlement – W.R. Grace & Co

  In re W.R. Grace & Co., Nos. 02-2210 and 02-2211 (D. Del.)

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  In this case, Milberg acted as Lead Counsel for the asbestos personal injury and property damage committees in two separate fraudulent conveyance actions within the W.R. Grace bankruptcy. Two settlements were achieved, consisting of cash and stock valued at approximately $1 billion.