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$62 Million Settlement – Comverse Technology, Inc. Derivative Litigation
In re Comverse Technology, Inc. Derivative Litigation, No. 601272/2006 (N.Y. Sup. Ct. N.Y. Cnty.)As Co-Lead Counsel, Milberg negotiated a $62 settlement which was approved by the court in 2010. The settlement also resulted in significant corporate governance reforms, including the replacement of various directors and officers; the amendment of the company’s bylaws to permit certain shareholders to propose in the company’s proxy materials nominees for election as directors; and the requirement that all equity grants be approved by both the compensation committee and a majority of the non-employee directors. -
See More$90 Million Settlement – Royal Dutch/Shell Transport ERISA Litigation
In re Royal Dutch/Shell Transport ERISA Litigation, No. 04-1398 (D.N.J.)An ERISA breach of fiduciary duty class action against the Royal Dutch/Shell Oil Group of Companies on behalf of certain of the companies’ U.S. employee investment plan participants. The $90 million settlement included important provisions regarding the monitoring and training of individuals appointed to be ERISA fiduciaries. -
See More$500 Million Settlement – Managed Care Litigation
In re Managed Care Litigation, MDL 1334 (S.D. Fla.)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. -
See More$200 Million Settlement – CMS Energy Corp. Securities Litigation
In re CMS Energy Corp. Securities Litigation, No. 02-72004 (E.D. Mich.)Milberg served as Co-Lead Counsel for the class in this securities fraud case arising out of CMS Energy’s alleged “round-trip” trading practices. The court approved a cash settlement of more than $200 million. -
See More$10 Million Settlement – Target Corporation Customer Data Security Breach Litigation
In re Target Corporation Customer Data Security Breach Litigation, No. 14-md-02522-PAM (D. Minn.)Milberg represented as many as 110 million Target customers whose personal information was compromised in this landmark data breach case. Milberg, together with Co-Counsel, achieved compensation of $10 million, entitling individual consumers to recover losses of up to $10,000.
