Cases & Investigations

The Drexel Burnham Lambert Group, Inc. Securities Litigation

CASE NUMBER: 90 Civ. 6954 (MP), Chapter 11, Case No. 90 B 10421 (FGC)
CASE STATUS: Settled
SETTLEMENT AMOUNT: $2 billion

Berger Montague 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 billion were approved in August 1991 and became effective upon consummation of Drexel’s Plan of Reorganization on April 30, 1992.

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