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Berger & Montague In The News

Berger & Montague, and its attorneys and cases, are regularly featured and profiled in the media.

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Judge OKs $336M Settlement Over Credit Card Fees

October 22, 2009
A $336 million settlement a class of consumers reached with credit card companies and banks accused of breaching federal and state antitrust laws by colluding to fix foreign currency fees has been granted approval by a federal judge, three years after...

For 6th Time in 7 Years, Berger & Montague Named as Among Nation's Top Plaintiffs' Firms by National Law Journal

October 5, 2009
For the sixth time in seven years, Berger & Montague was selected as one of the nation's top plaintiffs' law firms. In naming the firm to its "Hot List," The National Law Journal cited the $475 million settlement with Merrill Lynch over its subprime mortgage securities, a $250 million settlement for an antitrust case against the makers of the drug Tricor, and a $45 million "opt-out" settlement with Qwest Communications.

Class Cert. Recommended In Nortel ERISA Case

September 3, 2009
A magistrate judge involved in multidistrict litigation against Nortel Networks Corp. has recommended certifying a class that claims the defendants breached their fiduciary duty by representing its stock as a prudent investment, though its value was...

Point Plaintiff Named In NetBank Securities Suit

August 10, 2009
A federal judge has named a lead plaintiff in a class action alleging that former executives and directors of online financial institution NetBank Inc. defrauded investors by not disclosing problems with its restructuring and accounting prior to the...

VIP Chancellor's Award

February 25, 2009
On February 25, 2009, Berger & Montague, P.C. was honored as one of this year’s recipients of the Chancellor’s Award presented by the Philadelphia Volunteers for the Indigent Program (“VIP”).

Judge OKs $24M Pet Food Settlement

November 19, 2008
A federal judge has signed off on a $24 million settlement in a multidistrict pet food litigation, putting to rest claims over a massive recall of contaminated dog and cat food that sickened and killed pets across North America. View the full article...

What Price Your Pet, or Peace of Mind?

October 6, 2008
Sherrie Savett has been busy putting price tags on unusual losses, including credit card holders' fear of identity theft and beloved family pets, whose worth can't be measured in dollars. The task demands flexibility, creativity and a careful calculation of the risks of a trial, said Savett, chairwoman of Philadelphia-based Berger & Montague's securities litigation department.

Data Security Suits Show No Signs Of Slowing

September 9, 2008
The threat of online hackers and the growing understanding among consumers of the dangers of identity theft have given rise to a new type of consumer class action. And while data security claims remain largely untested in court, attorneys expect to see...

Hannaford Hit with Class Action Suit in Data Breach

March 20, 2008
Hannaford Bros. Co. has been hit with two class action lawsuits filed on behalf of consumers whose credit and debit card numbers were stolen as a result of a security breach. A Philadelphia law firm, Berger & Montague, said it filed suit Wednesday in U.S. District Court in Portland, alleging that the supermarket chain was negligent for failing to provide adequate security for computer data. A similar lawsuit filed in U.S. District Court in Bangor named Melinda Ryan as lead plaintiff.

Groundbreaking Marks Start of Construction in Carlisle

January 24, 2008
Penn State's Dickinson School of Law celebrated the start of construction of its new $50 million Carlisle construction and renovation project with a groundbreaking ceremony on Jan. 23. . .

Berger & Montague again Named to National Law Journal's "Hot List"

October 22, 2007
Berger & Montague was named to the National Law Journal’s “Hot List” of the top 13 plaintiffs’ law firms in the country for 2007, as it has been in previous years. Citing the firm’s victories in a series of post-trial rulings upholding its $554 million jury verdict in Cook v. Rockwell Int'l Corp. in 2006, as well as significant recoveries in the employment discrimination, mass torts, antitrust, and securities fields, the Journal lauded Berger & Montague as having "a hand in some of the most important" cases in the last year. Firms that made the "Hot List" were selected on the basis of an "exemplary" record, with at least one significant victory, defined as "winning an awful lot of money through a bench or jury verdict, or otherwise defining industry practices or the progress of related litigation."

Q&A With Holland & Knight's Jerome Hoffman

September 26, 2007
Q. Outside your own firm, can you name one antitrust lawyer who's impressed you and tell us why? A. Laddie Montague has always impressed me as someone who is smart enough to convince other very smart lawyers and judges to see things his way, based on...

Judge OKs Settlement In Drug Securities Case

September 10, 2007
A judge has given his final approval to a $52.5 million settlement agreement in two related securities cases filed against pharmaceutical company Sepracor Inc. over statements made about the antihistamine, Soltara. ... "The settlement is excellent for...

PHLX Settles Lawsuit

September 6, 2007
The Philadelphia Stock Exchange has settled a shareholder lawsuit that stems from the sale of a stake in the market to Wall Street brokerages. The agreement in Ginsburg v. Philadelphia Stock Exchange, et al. reached in the Delaware Court of Chancery calls for shareholders to receive between $67 million and $80 million depending on the market value of the exchange, according to plaintiff lawyers from Berger & Montague of Philadelphia.

PHLX Shareholder to Get up to $80 million as Settlement

September 5, 2007
Philadelphia Stock Exchange shareholders will receive a settlement of up to $80 million in relation to a lawsuit regarding a sale of the exchange, the law firm representing the shareholders said on Wednesday.

Berger & Montague Named Among Nation's 3 Most In-demand Plaintiff's Antitrust Firms

February 16, 2007
In a survey of the nation's 300 largest law firms, Berger & Montague was identified as the third most active plaintiffs' antitrust firm. The antitrust and competition law newswire "Competition Law 360," a wholly independent publication of Portfolio Media, conducted the survey, which based its findings on the number of new antitrust cases filed in 2006. Berger & Montague had 28 new antitrust actions, including cases against giants in the pharmaceutical, banking, and credit card industries, among others.

Cigna to pay $93 million to settle class action

December 9, 2006
A computer nightmare from early in the decade is still haunting Cigna Corp. The Philadelphia insurance company will pay $93 million in the settlement of a class-action shareholder lawsuit, it was announced yesterday. . . . "This case would have been a battle of the experts," said lead plaintiffs' attorney Sherrie Savett, a partner at Berger & Montague P.C. in Philadelphia.

Cigna Strikes Deal To End Class Action

December 8, 2006
Cigna Corp. has agreed to shell out $93 million to settle a securities class action filed in Pennsylvania in 2002, accusing the health insurer and its executives of lying to investors about its plan to overhaul its outdated computer systems. ... The...

Settlement Reported on Foreign-Charge Fees

July 27, 2006
Two class-action law firms announced yesterday that they had reached a $336 million agreement with Visa USA, MasterCard and a number of other credit and debit card issuers over charges for foreign currency conversions. The settlement is subject to approval by the Federal District Court in Manhattan.

Phila. in lead in Newsday lawsuit; The city is part of a class-action effort to recoup lost funds against the Tribune Co.

February 17, 2006
The City of Philadelphia is the lead plaintiff in a federal, class-action lawsuit in Chicago stemming from the circulation scandal at Newsday, the New York newspaper. Philadelphia is suing the Chicago-based Tribune Co., the vast media company that owns Newsday, for $310,600. . . . "Tribune misstated its circulation and also its earnings; it had to refund money to advertisers as a result," said attorney Sherrie R. Savett of the Center City law firm of Berger & Montague P.C., which is representing the city. "They put forward a picture of their finances that looked much more rosy than it really was."

Now, Execs Pay for Firm's Sins

January 31, 2005
Almost before the ink dried on two landmark settlements this month, corporate watchdogs were debating whether to cheer or cry at the fact that former directors were spending their own cash to settle notorious fraud cases. . . .

It's Time for a Big Payout

December 16, 2004
It's been a long and heavy slog, but Time Warner said Wednesday it's about to close the book on a record 21/2-year probe by federal authorities with two settlements worth a total of $ 510 million. The Justice Dept. and the Securities and Exchange Commission have been conducting investigations into suspect accounting and financial disclosure at America Online both before and after the Netco and the media conglom merged in 2001. . . .

Red Hat to Restate Last Three Years; Stock Blanches on Credibility Issues

July 16, 2004
Red Hat is going to restate its financials for fiscal 2002, 2003 and 2004 based on the advice it's been given by a new auditor from PricewaterhouseCoopers, who thinks that the company should recognize subscription revenues daily rather than monthly, the method it's used for the last five years . . . . Unhappiness was such that the law firm of Goodkind Labaton Rudoff & Sucharow LLP has sued charging Red Hat mislead its investors in its past financial statements and Berger & Montague PC filed a class action naming Szulik and departing CFO Kevin Thompson.

Residents file suit against the E.P.A.

March 12, 2004
Residents, workers and students in Lower Manhattan and Brooklyn filed a lawsuit against the Environmental Protection Agency on March 10, saying the agency failed in its duty to protect citizens from the environmental fallout of the World Trade Center disaster. The suit accuses the E.P.A. of misleading the public about the air quality Downtown after the terror attack.

Putnam Woes Dog 401(k) Plans

November 11, 2003
Jim Hageney says the phones are ringing a lot these days as the mutual fund scandals continue to unfold. Hageney, a retirement plan consultant with Sterling Investment Advisors Ltd. in Berwyn, says many local companies have their 401(k) plans with Putnam Investments and Alliance Capital Management -- two respected fund companies at the center of the scandals. And it's getting to the point where people are going to have to make some decisions about whether they should stay put or jump ship.
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