Outstanding Recoveries
- Home
- Outstanding Recoveries
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.
-
$500 Million Settlement – Exxon Valdez
In re Exxon Valdez, No. 89-095 (D. Alaska)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. -
$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. -
$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. -
$400+ Million Settlement – Chantix (Varenicline) Products Liability Litigation
In re Chantix (Varenicline) Products Liability Litigation, MDL 2092 (U.S. District Court for the Northern District of Alabama, Southern Division)Milberg attorneys served as Co-Lead Counsel in the Chantix Coordination in New York State Court and court-appointed member of the Plaintiffs Steering Committee in the MDL in Alabama. -
$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.