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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$120 Million Settlement – Deutsche Telekom AG Securities Litigation
In re CVS Corp. Securities Litigation, No. 01-11464 (D. Mass.)Milberg served as Co-Lead Counsel in this securities action on behalf of a class of purchasers of American Depository Receipts. The plaintiffs alleged that Deutsche Telekom improperly failed to disclose plans to make a major corporate acquisition and overstated the value of real estate assets. In 2005, following extensive discovery, including depositions in Germany, the court approved a $120 million cash settlement. -
$4 Billion Settlement – Prudential Insurance Co. Sales Practice Litigation
In re Prudential Insurance Co. Sales Practice Litigation, No. 95-4704 (D.N.J.)Serving as Lead Counsel, Milberg recovered more than $4 billion for certain policyholders in this landmark case challenging Prudential’s insurance sales practices. -
$7.5 Million Settlement – Meritage Homes of the Carolinas, Inc. v. Town of Holly Springs
Meritage Homes of the Carolinas, Inc. v. Town of Holly Springs, Wake Co. File No. 20-CVS-14511 (NC)$7.5 million class settlement on behalf of developers for illegal recreation fees in lieu of land dedication. -
$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. -
$3.2 Billion Settlement – Tyco International Securities Litigation
In re Tyco International Ltd., Securities Litigation, MDL 1335 (D.N.H.)Milberg served as Co-Lead Counsel in this litigation, which involved federal securities claims against Tyco and its former CEO, CFO, general counsel, and certain former directors arising out of alleged insider trading and the overstatement of billions of dollars in income. In 2007, the court approved a $3.2 billion settlement.