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1/22/2009
Need a Read on the Merrill Sub-Prime Settlements?
12/15/2008
Siemens Signs off on Billions in Fines
Siemens Sends Notice of Coming Settlement
A Good Day for the Plaintiff Bar
Milberg Settlement Forthcoming
30 Months For Melvyn Weiss
Milberg Kickbacks, A Victimless Crime?
Parmalat Settles U.S. Class Action 4/30/2008
Milberg in Settlement Talks 3/27/2008
Biovail Quick to Settle on SEC Action
Citigroup Coughs up $1.7 billion to Close Out Enron Liability
KLA Backdating Case Reaches $65 Million Conclusion
Biovail Buys it sWay out of Class Action Suit
Settlement in Mercury Interactive Backdating Case
Siemens Settlement Criticized
Shell Pays $340 Million to Settle EU Class Action Suit
Need a Read on the Merrill Sub-Prime Settlements?
Look no further than Kevin LaCroix over at the D & O Diary.
-- MDT
-- MDT
Labels: Merrill Lynch, settlement, sub-prime mortgage
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Siemens Signs off on Billions in Fines
Looking to close the book on the massive bribery investigation, Siemens settles for big bucks on lesser charges.
-- MDT
11/06/2008
-- MDT
Labels: bribery, settlement, Siemens
Siemens Sends Notice of Coming Settlement
They've set aside a$1.3 billion to help resolve the ongoing corruption probes in Europe and the U.S. While some had suggested that closing out the various investigations could prove much more costly, market analysts have referred to the probes as "essentially over" at this point. More on this at CFO.com, along with some additional detail fits into the bigger picture of the current state of European business ethics.
-- MDT
9/10/2008
-- MDT
Labels: settlement, Siemens
A Good Day for the Plaintiff Bar
And the former shareholders of Enron, who will receive $1.7 billion, according to a recently approved settlement distribution plan. The law firm Coughlin Stoia Geller Rudman & Robbins (you may note the missing Lerach, there) will collect $688 million for their role in running the massive class action. If you're keeping score, both of those numbers have set new records, for settlement size and attorney fees.
-- MDT
6/12/2008
-- MDT
Labels: Bill Lerach, Coughlin Stoia, Enron, settlement
Milberg Settlement Forthcoming
$75 million is rumored number. The trial is set for August, but it seems increasingly likely we won't get there.
-- MDT
6/02/2008
-- MDT
Labels: kickbacks, Milberg, Milberg Weiss, settlement
30 Months For Melvyn Weiss
Well, they finally got their man...
With the firm itself set to go before a judge in August, it sounds like we can expect another settlement before too much longer.
The Weiss docs are up - you can check out the settlement terms for yourself right here.
-- MDT
5/30/2008
With the firm itself set to go before a judge in August, it sounds like we can expect another settlement before too much longer.
The Weiss docs are up - you can check out the settlement terms for yourself right here.
-- MDT
Labels: Melvyn Weiss, Milberg, Milberg Weiss, settlement
Milberg Kickbacks, A Victimless Crime?
Not so, says Michael Perino of St. John's University School of Law.
Perino, in a paper sponsored by the trial lawyer-loving fellas over at the American Enterprise Institute, compared 730 settlements negotiated by Milberg and found that those alleged to involve kickbacks actually saw a lower return to shareholders by a small but measurable percentage.
On the whole, Milberg collected some $25o million in legal fees on cases involving the kickbacks.
In addition to some interesting commentary on the impact of Milberg's illegal acts on the firm's clients, the paper also offers a pretty darn good re-cap of the kickback investigation and prosecution.
You can read Perino's The Milberg Weiss Prosecution: No Harm, No Foul right here.
-- MDT
5/06/2008
Perino, in a paper sponsored by the trial lawyer-loving fellas over at the American Enterprise Institute, compared 730 settlements negotiated by Milberg and found that those alleged to involve kickbacks actually saw a lower return to shareholders by a small but measurable percentage.
On the whole, Milberg collected some $25o million in legal fees on cases involving the kickbacks.
In addition to some interesting commentary on the impact of Milberg's illegal acts on the firm's clients, the paper also offers a pretty darn good re-cap of the kickback investigation and prosecution.
You can read Perino's The Milberg Weiss Prosecution: No Harm, No Foul right here.
-- MDT
Labels: kickbacks, Michael Perino, Milberg, settlement
Parmalat Settles U.S. Class Action 4/30/2008
Milberg in Settlement Talks 3/27/2008
Biovail Quick to Settle on SEC Action
Citigroup Coughs up $1.7 billion to Close Out Enron Liability
Ok, so it was 1.66 million but when the numbers get that high, who's counting.
-- MDT
2/04/2008
-- MDT
Labels: Citigroup, Enron, settlement
KLA Backdating Case Reaches $65 Million Conclusion
The final figures aren't out but KLA has reportedly signed a letter of agreement to settle class action litigation brought against the firm in relation to a $935 million loss of market cap resulting from reports of stock option backdating.
Word of the looming settlement comes from a 10-Q statement KLA recently filed with the SEC. Lawyers in the case are calling this one of the biggest awards yet in backdating-related litigation.
This won't end the problems for KLA, which is still facing several shareholder derivative suit and multiple state and Federal investigations.
-- MDT
12/14/2007
Word of the looming settlement comes from a 10-Q statement KLA recently filed with the SEC. Lawyers in the case are calling this one of the biggest awards yet in backdating-related litigation.
This won't end the problems for KLA, which is still facing several shareholder derivative suit and multiple state and Federal investigations.
-- MDT
Labels: backdating, KLA-Tencor, settlement, stock options
Biovail Buys it sWay out of Class Action Suit
Of the U.S. suit at least, without admitting any wrongdoing and with no liability. A parallel Canadian suit is still pending, but the company claims to have that just about resolved as well.
10/16/2007
Labels: Biovail, class action, securities, settlement
Settlement in Mercury Interactive Backdating Case
Lawfirm Labaton Sucharow has reached a $117.5 million settlement with the company.
--MDT
10/09/2007
--MDT
Labels: backdating, Labaton Sucharow, Mercury Interative, settlement, stock options
Siemens Settlement Criticized
While the recent settlement between Siemens and Munich prosecutors does not preclude other investigations moving forward, many have stepped forth to criticize German authorities for letting Siemens off so lightly for what seemed like wide ranging, brazen illegal activity.
--MDT
4/12/2007
--MDT
Labels: bribery, Germany, settlement, Siemens
Shell Pays $340 Million to Settle EU Class Action Suit
Royal Dutch Shell will make a massive, multi-million dollar settlement payment to over 50 European institutions in relation to Shell's downgrading of their oil reserves in 2004. According to the terms of the settlement Shell has already faced more millions in fines relating to their mis-reporting and several execs, including former company chairman Sir Philip Watts, lost their jobs over the fiasco.
The Shell settlement represents the largest class action settlement in Europe's history. It has been reported that Shell plans to offer a similar settlement to affected investors in the United States, but that may refer to the distribution of the millions in fines the company has already paid to the SEC on the reserves restatement matter.
-- MDT
The Shell settlement represents the largest class action settlement in Europe's history. It has been reported that Shell plans to offer a similar settlement to affected investors in the United States, but that may refer to the distribution of the millions in fines the company has already paid to the SEC on the reserves restatement matter.
-- MDT
Labels: accounting fraud, class action, Royal Dutch Shell, settlement
