New York:  A new survey that tracks securities class action settlements indicates that Milberg LLP continues to maintain its leadership position among plaintiffs’ law firms.   In 2009, Milberg LLP ranked second overall among the top 50 plaintiffs’ law firms for total dollars achieved in final securities class action settlements, according to a report by RiskMetrics Group’s Securities Class Action Services unit. Milberg ranked fourth in the number of settlements. The annual survey, the “SCAS 50,” tracks settlements in which firms were either lead or co-lead counsel.

2009 marks the third year in a row that Milberg has been in the top three for total dollars recovered in class action settlements, according to the “SCAS 50.”  Moreover, Milberg has been in the top four for total dollars recovered every year since the “SCAS 50” was first compiled in 2003.

“Our consistently high ranking in the SCAS survey shows that, year after year, Milberg has set the standard for securities class action litigation.  We continued to do so in 2009 and are maintaining this stellar track record in 2010,” said Ariana Tadler, a member of Milberg’s Executive Committee.  “Our ranking is a testament to the expertise and dedication of Milberg’s attorneys, in-house investigators, forensic accountants and other professionals.”

The firm recovered a total of $1.44 billion in 10 settlements in 2009, with an average of $144 million per settlement, according to the SCAS report.  The survey tracks federal and state shareholder class actions and does not include data on ERISA or derivative lawsuitss. 

According to another SCAS report, the “Top 100 Settlements Quarterly Report,” Milberg LLP was lead or co-lead counsel more often than any other law firm in the biggest 100 securities class actions filed since 1996.

Milberg has been responsible for more than $55 billion in recoveries since its founding in 1965, more than any of its peers.   In 2009, its major recoveries included a $750 million settlement in Carlson v. Xerox, a class action alleging massive global accounting improprieties.  In Initial Public Offering Securities Litigation, Milberg achieved a $586 million settlement in a class action against 55 prominent investment banks and 300+ corporate issuers.

This year, Milberg has remained on the forefront of class action securities litigation.  For example, it represented the lead plaintiff in a landmark case, Vivendi SA Securities Litigation, which led to a multi-billion dollar verdict in January, 2010 after a rare jury trial.   It was by far the largest award of its kind.  This case is on the cutting edge of securities law because it included foreign investors in a U.S. class action.

About Milberg

Milberg LLP is widely recognized as the premier class action and complex litigation firm, representing individual and institutional investors, pension funds, hedge funds, unions and consumers.  Founded in 1965, Milberg has offices in New York, Los Angeles, Tampa and Detroit.  The firm has taken the lead in landmark cases that have set groundbreaking legal precedents and prompted changes in corporate governance that have benefited shareholders in North America and abroad.  Please visit the Milberg website (www.milberg.com) for more information about the firm.

Reference:  www.riskmetrics.com

Contact: Dan Fleshler (646-552-1213)