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$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$750 Million Settlement – Carlson v. Xerox Corp
In re Carlson v. Xerox Corp., No. 00-1621 (D. Conn.)Milberg served as plaintiffs’ Co-Lead Counsel in these consolidated cases alleging that Xerox and several officers violated the federal securities laws by issuing false financial statements. The plaintiffs’ claims survived three motions to dismiss and a motion for summary judgment, ultimately resulting in a $750 million settlement in 2009. -
See More$25 Million Settlement – U.S. ex rel. Gonzales v. J.W. Carell Enterprises, Inc.
U.S. ex rel. Gonzales v. J.W. Carell Enterprises, Inc. et al., No. 12-00389 (M.D. Tn.)Milberg represented a whistleblower or “relator” in a false claims act case against one of Tennessee’s largest home healthcare providers, which alleged the company’s fraudulent submissions of Medicare and Medicaid claims. The Government intervened and the case settled in November 2014 for $25 million and the relator’s share of the settlement was $3.9 million. -
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$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.)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.
