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The success of Berger & Montague in prosecuting class actions and other complex litigation is best demonstrated by the firm's significant results for its clients. The following is a partial list of some of the more notable judgments and settlements from the past few years:
In re Rite Aid Inc. Securities Litigation:
The firm, as co-lead counsel, has obtained settlements totalling $334 million against Rite Aid's accounting firm and certain of the company's former officers (99 CV 1349 (E.D. Pa. 2001)).
In re Sunbeam Inc. Securities Litigation:
As co-lead counsel, the firm obtained a settlement on behalf of investors of $110 million in the action against Sunbeam's accounting firm. The action against Sunbeam's officers remains pending. (98 CV 8258 (S.D. Fla. 2001)).
In re Waste Management, Inc. Securities Litigation:
In 1999, the firm, as co-lead counsel, obtained a class settlement for investors of $220 million cash. (97CV 7709 (N.D. Ill. 2000)).
In re IKON Office Solutions Inc. Securities Litigation:
The firm, serving as both co-lead and liaison counsel, obtained a cash settlement of $111 million in an action on behalf of investors against IKON and certain of its officers in 2000. (MDL Dkt. No. 1318 (E.D. Pa. 2000)).
In re Melridge Securities Litigation:
The firm served as lead counsel and co-trial counsel for a class of purchasers of Melridge common stock and convertible debentures. A four-month jury trial yielded a verdict in plaintiffs' favor for $88.2 million, and judgment was entered on RICO claims against certain defendants for $239 million. The court approved settlements totaling $55.4 million. (CV-87-1426FR (D. Or. 1998)).
Walco Investments, Inc. et al. v. Kenneth Thenen, et al. (Premium Sales):
The firm, as a member of the Plaintiffs' Steering Committee, obtained settlements of $141 million for investors victimized by a ponzi scheme. (Reported at: 881 F. Supp. 1576 (S.D. Fla. 1995);168 F.R.D. 315 (S.D. Fla. 1996); 947 F. Supp. 491 (S.D. Fla. 1996)).
In re The Drexel Burnham Lambert Group, Inc.:
The firm was appointed co-counsel for a mandatory non-opt-out class consisting of all claimants who had filed billions of dollars in securities litigation-related proofs of claim against The Drexel Burnham Lambert Group, Inc. and/or its subsidiaries. Settlements in excess of $2.0 billion were approved in August 1991 and became effective upon consummation of Drexel's Plan of Reorganization on April 30, 1992. (90 Civ. 6954 (MP), Chapter 11, Case No. 90 B 10421 (FGC), Jointly Administered, reported at, inter alia, 960 F.2d 285 (2d Cir. 1992), cert. dismissed, 506 U.S. 1088 (1993) ("Drexel I") and 995 F.2d 1138 (2d Cir. 1993) ("Drexel II")).
In re Michael Milken and Associates Securities Litigation:
As court-appointed liaison counsel, the firm was one of four lead counsel who structured the $1.3 billion "global" settlement of all claims pending against Michael R. Milken, over 200 present and former officers and directors of Drexel Burnham Lambert, and more than 350 Drexel/Milken-related entities. (MDL Dkt. No. 924, M21-62-MP (S.D. N.Y.1993)).
RJR Nabisco Securities Litigation:
In this action, Berger & Montague represented individuals who sold RJR Nabisco securities prior to the announcement of a corporate change of control. This securities case settled for $72 million. (88 Civ. 7905 MBM (S.D. N.Y. 1992)).
In re Cardizem CD Antitrust Litigation:
The firm served on the Executive Committee of this antitrust class action on behalf of direct purchasers of the brand-name drug, Cardizem CD, which yielded a settlement of $110 million (MDL No. 1278 (E.D. Mich. 2002)).
In re Brand Name Prescription Drugs Antitrust Litigation:
The firm served as co-lead counsel in this antitrust price-fixing class action on behalf of a class of purchasers of brand name prescription drugs. Following certification of the class by the district court, settlements exceeded $717 million. (No. 94 C 897 (N.D. Ill. 2000)).
In re Carbon Dioxide Antitrust Litigation:
The firm was co-trial counsel in this antitrust class action which settled with the last defendant days prior to trial for total settlements approximating $53 million, plus injunctive relief. (MDL No. 940 (M.D. Fla. 1995)).
In re Infant Formula Antitrust Litigation:
The firm served as co-lead counsel in an antitrust class action where settlement was achieved two days prior to trial, bringing the total settlement proceeds to $125 million. (MDL No. 878 (N.D. Fla. 1992)).
Red Eagle Resources Corp., Inc., v. Baker Hughes, Inc.:
The firm was a member of the plaintiffs' executive committee in this antitrust class action which yielded a settlement of $52.5 million. (C.A. No. H-91-627 (S.D. Tex. 1991)).
In re Corrugated Container Antitrust Litigation:
The firm, led by H. Laddie Montague, was co-trial counsel in an antitrust class action which yielded a settlement of $366 million, plus interest, following a trial. (MDL No. 310 (S.D. Tex., 1981)).
Environmental/Mass Tort
Litigation
In re Exxon Valdez Oil Spill Litigation:
On September 16, 1994, a jury trial of several months duration resulted in a record multi billion dollar punitive damages against the Exxon defendants as a consequence of one of the largest oil spills in U.S. history. David Berger was co-chair of the Plaintiffs' Discovery Committee (appointed by both the federal and state courts). H. Laddie Montague was specifically appointed by the federal court as one of the four designated trial counsel. Both Mr. Montague and Peter Kahana shared (with the entire trial team) in the 1995 "Trial Lawyer of the Year Award" given by the Trial Lawyers for Public Justice. (No. A89-0095-CVCHRH (D. Ala. 1996)).
In re Ashland Oil Spill Litigation:
The firm served as co-lead counsel and obtained a $30 million settlement for damages resulting from a very large oil spill. (Master File No. M-14670 (W.D. Pa. 1990)).
In re School Asbestos Litigation:
As co-lead counsel, the firm successfully litigated a case in which a nationwide class of elementary and secondary schools and school districts suffering property damage as a result of asbestos in their buildings were provided relief. Pursuant to an approved settlement, the class received $70 million in cash and $145 million in discounts toward replacement building materials. (No. 83-0268 (E.D. Pa. 1986)).
Civil/Human Rights
Litigation
In re Holocaust Victim Assets Litigation:
Through Stephen A. Whinston's membership on the Executive Committee in cases brought by Holocaust survivors against the three largest Switzerland-based banks, this litigation was settled for $1.25 billion. (105 F. Supp.2d 139 (E.D. N.Y. 2000)).
In re Nazi Era Cases Against German Defendants Litigation:
Through the firm's co-lead counsel role, cases against German industry and banks for the use of slave and forced labor during the Nazi era were ultimately settled in the context of international negotiations which created a fund for victims of $4.5 billion. (198 F.R.D. 429 (D. N.J. 2000)).
Healthcare/ERISA
Litigation
In re Unisys Corp. Retiree Medical Benefits:
The firm, as co-lead counsel, handled the presentation of over 70 witnesses, 30 depositions, and over 700 trial exhibits in this action that has resulted in partial settlements of over $110 million for retirees whose health benefits were terminated. (MDL No. 969 (E.D. Pa.)).
Local 56 U.F.C.W. v. Campbell Soup Co.:
The firm represented a class of retired Campbell Soup employees in an ERISA class action to preserve and restore retiree medical benefits. A settlement yielded benefits to the class valued at $114.5 million. (No. 93-MC-276 (SSB) (D. N.J. 1984)).
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