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BLB&G Partners Max Berger and Sean Coffey are the Subject of
"Breaking The Banks" - the Cover Story in
The American Lawyer and Corporate Counsel Magazine's "Litigation 2005"
November 2005 - On the heels of the recent success for the firm in the
In re WorldCom, Inc. Securities Litigation,
BLB&G partners Max Berger and
Sean Coffey were the subjects of the cover story of "Litigation
2005," a supplement to The American Lawyer and Corporate Counsel. The article entitled
"Breaking the Banks - The Inside
Story of the $6.1 billion WorldCom Settlement," highlights the strategies used by the WorldCom team, led by firm partners
Max Berger,
Sean Coffey,
Steve Singer,
Chad Johnson, and
Erik Sandstedt, in getting some of the largest investment banks
in the world to pay unprecedented settlements for their failure to perform adequate due diligence prior to underwriting
billions of dollars of WorldCom bonds.
The article discusses the triumphs of the WorldCom litigation, due largely in part to the
unrelenting efforts of Lead Plaintiff, The New York State Common Retirement Fund led
by New York State Comptroller Alan Hevesi, and touches upon some of the obstacles
faced by Lead Plaintiff in proving that the underwriters were liable to defrauded
investors. Ultimately, it tells the tale of a "remarkable case," which resulted
in a previously unprecedented recovery of over $6.15 billion for the investor
class, and has forever changed the way Wall Street conducts business.
Click
here to read "Breaking
the Banks - The Inside Story of the $6.1 billion WorldCom Settlement."
For more information about the firm, please contact us at
blbg@blbglaw.com.
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