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$330+ Million Settlement – Rite Aid Corp. Securities Litigation
In re Rite Aid Corp. Securities Litigation, No. 99-1349 (E.D. Pa.)Milberg served as Co-Lead Counsel in this case, in which plaintiffs asserted federal securities fraud claims based on Rite Aid’s alleged failure to disclose material problems with its store expansion and modernization program resulting in artificially inflated earnings. The court-approved settlements totaled over $330 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$15.3 Million Settlement – Upright Builders, Inc. v. Town of Apex
Upright Builders, Inc. v. Town of Apex, Wake Co. File No. 18-CVS-3720 (NC)$15.3 million class settlement on behalf of developers and home builders for illegally charged water and sewer capacity replacement fees and transportation fees. -
See More$178.6 Million Settlement – AK Steel ERISA Class Action
Merkner et al. v. AK Steel Corp., No. 09-423 (S.D. Ohio)Milberg attorneys were part of a team that won a $178.6 million class action settlement for a class of retired workers of the AK Steel Butler Works Plant. Retirees claimed that AK Steel negotiated to reduce their medical benefits without their consent, in violation of the Employee Retirement Income Security Act (ERISA). -
See More$54 Million Settlement – Miller v. CareCore National LLC
U.S. ex rel. Miller v. CareCore National LLC et al., No. 13-1177 (S.D.N.Y)Milberg, along with Co-Counsel, represented a whistleblower or “relator” in a false claims act case against CareCore, a company that provides benefit management services to Medicare Advantage and Medicaid Managed Care Organizations. The relator alleged that CareCore violated the False Claims Act by approving “prior authorizations” for expensive diagnostic procedures (such as MRIs) without reviewing them for medical necessity, as required. The Government intervened and the case settled in May 2017 for $54 million and the relator’s share of the settlement was $10.5 million.
