Outstanding Recoveries

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Verdicts & Settlements

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  Trump Hotels Shareholder Derivative Litigation

  In re Trump Hotels Shareholder Derivative Litigation, No. 96-7820 (S.D.N.Y.)

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  The plaintiff shareholders asserted various derivative claims on behalf of the company against certain Trump entities and senior Trump executives in connection with the sale of a casino to a company in which the plaintiffs owned stock. Milberg negotiated a settlement requiring the company to increase the number of directors and the review of certain future transactions by a special committee.
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  $1+ Billion Settlement – Merck & Co., Inc. Securities Litigation

  In re Merck & Co., Inc. Securities Litigation, Nos. 05-1151 and 05-2367 (D.N.J.)

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  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.”
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  $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.)

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  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.
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  $586 Million Settlement – Initial Public Offering Securities Litigation

  In re Initial Public Offering Securities Litigation, No. 21-92 (S.D.N.Y.)

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  Milberg represented investors in 310 securities class actions alleging a market manipulation scheme involving hundreds of initial public offerings and approximately 55 defendant investment banks. This scheme, plaintiffs alleged, significantly contributed to the high-tech “bubble” of the late 1990s and early 2000. In approving a $586 million settlement in 2009, the court described the law firms on the Plaintiffs’ Executive Committee as the “cream of the crop.”
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  $750 Million Settlement – Carlson v. Xerox Corp

  In re Carlson v. Xerox Corp., No. 00-1621 (D. Conn.)

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  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.