Case Number: No. 02-20170
Practice Area: Securities Fraud & Investor Protection
Case Status: Settled
Settlement Amount: $22.25 million
Court: United States District Court for the Southern District of Florida
Berger Montague served as lead counsel in this derivative action on behalf of Florida Power & Light, which was resolved by payment to the corporation of $22.25 million, of which $9.75 million was paid by individual defendants and the remainder by insurers. The settlement also incorporated the company’s agreement to certain additional relief with respect to corporate governance. This additional relief included enhanced power to non-management directors; limits on the tenure of certain Board members; limits on related party transactions Board members could enter into with the company; and limits on the directorships of public companies that directors could hold. The case was litigated in the United States District Court for the Southern District of Florida.
If you are an investor and have questions about a potential securities fraud lawsuit, please contact Berger Montague.
About Berger Montague
Berger Montague is a national law firm focusing on complex civil litigation in federal and state courts throughout the United States. For over half a century, Berger Montague has played lead roles in consequential, precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago, Minneapolis, San Diego, San Francisco, Toronto, and Washington, D.C.