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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.
February 7, 2003
Campbell Soup Co. has agreed to a $35 million settlement of a class-action lawsuit alleging that it artificially inflated sales and earnings in the late 1990s by setting up "sham shipments" of soup.
The Camden company said yesterday that the payment would be covered by insurance and that it was not admitting misconduct. . . .
November 10, 2000
Rite Aid, the large drugstore chain that was forced to restate its earnings last year, settled shareholder class-action lawsuits yesterday by agreeing to pay $200 million in cash and securities and by agreeing to help shareholders in their lawsuits against the company's former top management and auditors. The agreement left Martin Grass, Rite Aid's former chairman; Timothy Noonan, its former president; and Frank Bergonzi, its former chief financial officer, to fend for themselves. The company assigned to the plaintiffs any claims it had against the three men, as well as any claims it might have against KPMG, its former auditors.
May 31, 1999
As of late May, 1999, the price of gold has slumped to a record 20-year low. Some pro-gold lobby groups have asserted that the decline in the price of gold is due to a conspiracy involving large corporations and the government. These two groups have combined together to cut the price of gold. Conspiracy theories were given a boost by the Bank of England's decision to sell off its gold stocks during the week of 24-28 May, 1999. Berger & Montague, a United States-based legal firm, has been requested by the Gold Anti-Trust Action Committee to examine whether or not gold prices have been manipulated.
November 27, 1998
. . . Investigations are under way. Class-action lawyers are having a field day. "We are judicious about suing accountants," says Sherrie Savett, partner at Berger & Montague in Philadelphia. "We don't sue them unless we have the evidence." Berger & Montague are class-action terriers. In January, 1997, they settled out of court with Ernst & Young over its work for Regal Communications, an infomercial outfit that had reported phony earnings. The firm is currently either lead or supporting counsel in suits against Boston Chicken and its auditors, Arthur Andersen; Waste Management and its auditors, Arthur Andersen; Livent and theirs, Deloitte Touche; and Cendant and, thereby, Ernst & Young. . . .
July 19, 1996
Following through on months of threats, state Attorney General Richard Blumenthal on Thursday filed a $1 billion lawsuit against the tobacco industry -- the largest civil lawsuit ever brought by the state of Connecticut. The suit names 10 companies as defendants, including four tobacco giants who filed a pre-emptive suit against Blumenthal in federal court last month: Philip Morris, R.J. Reynolds, Brown & Williamson and Lorillard. Blumenthal called the suit historic and said it was "unprecedented, not only in the amount of money it is seeking to recover, but in the level of public interest" in winning damages from the tobacco companies.
June 12, 1993
A fund set up by the former Wall Street arbitrager Ivan F. Boesky distributed $31 million yesterday to investors who were defrauded by his insider-trading activities in 1985 and 1986. The payments, approved by Federal Judge Milton Pollack in Manhattan, are being made to 6,001 investors, according to David Berger, a lawyer for investors who sued Mr. Boesky.
April 21, 1992
Somewhere out there - in New York, probably, but perhaps also in Sweden, Mexico or even tiny Liechtenstein - Michael Milken had victims we haven't heard from yet. Daniel Berger, of Berger &Montague law firm in Philadelphia, hopes some of them read newspapers. Tomorrow, Berger &Montague, one of the country's pre-eminent practitioners of the class-action lawsuit, will launch what Berger says is the most exhaustive effort ever to...
June 24, 1989
The Department of Energy has reversed its longstanding policy and agreed to make available to independent researchers the health records of 600,000 people who have worked at nuclear weapons plants since the early 1940's. . .
March 31, 1989
The pent-up anger and frustration of townspeople here spilled over today as an expanding oil slick sent its first tentacle out of Prince William Sound into the Gulf of Alaska. Angry shouting broke out at a news conference called by officials of the Exxon Shipping Company, whose tanker the Exxon Valdez ran onto a reef last Friday and spilled 240,000 barrels of crude oil into waters rich in salmon, herring and other marine life. Townspeople said the effort to contain and clean up the spill had been slow and ineffective, and a lawsuit was filed against Exxon and the pipeline consortium in Federal District Court Thursday seeking relief for all people who suffer damages. F.B.I. Opens Inquiry
In 2010, Berger & Montague was named to the National Law Journal's "Plaintiff's Hot List" for the 7th time in 8 years. The NLJ designated the firm to it's Hall of Fame for having been recognized on the list in 2003-2005 and 2007-2010.
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