Outstanding Recoveries

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Verdicts & Settlements

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  $460 Million Settlement – Raytheon Co. Securities Litigation

  In re Raytheon Co. Securities Litigation, No. 99-12142 (D. Mass.)

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  Milberg served as Lead Counsel in this case, which alleged that a major defense contractor failed to properly write down assets on construction contracts. In 2004, Raytheon and its auditor, PricewaterhouseCoopers LLP, settled for a total of $460 million.
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  $75 Million Settlement – Irvine v. ImClone Systems, Inc.

  Irvine v. ImClone Systems, Inc., No. 02-0109 (S.D.N.Y.)

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  Milberg served as Co-Lead Counsel in this case, in which the plaintiffs alleged that ImClone misrepresented the likelihood that its drug, Erbitux, would be approved, thereby artificially inflating the price of ImClone stock. The court approved a $75 million cash settlement in 2005.
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  Confidential Settlement – Adkisson v. Jacobs Engineering Group

  Adkisson et al v. Jacobs Engineering Group, Inc. (TV3), No. 3:2013cv00505 (E.D. Tenn. 2018)

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  Milberg attorneys represented a group of hundreds of workers and their families who were injured when cleaning up a large coal ash spill in Kingston, Tennessee. The workers alleged, among other things, that the defendant had denied them essential personal protection equipment. After several rulings, the parties reached a confidential settlement agreement in 2023.
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  $4 Billion Settlement – Prudential Insurance Co. Sales Practice Litigation

  In re Prudential Insurance Co. Sales Practice Litigation, No. 95-4704 (D.N.J.)

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  Serving as Lead Counsel, Milberg recovered more than $4 billion for certain policyholders in this landmark case challenging Prudential’s insurance sales practices.
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  $138 Million Settlement – Biovail Corp. Securities Litigation

  In re Biovail Corp. Securities Litigation, No. 03-8917 (S.D.N.Y.)

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  Milberg, representing Local 282 Welfare Trust Fund and serving as Co-Lead Counsel, litigated this securities action alleging that defendants made misleading statements concerning Biovail’s financial results and its drug, Cardizem LA. Following substantial discovery, including depositions across the U.S. and Canada, Milberg obtained a $138 million settlement for the class, and Biovail agreed to institute significant corporate governance changes.