$311 Million Recovery in the Williams Securities Litigation Featured in The American Lawyer's "Big Suits" Section
September 2006In June 2006, BLB&G obtained a recovery of $311 million on behalf of defrauded investors in the In re Williams Securities Litigation. The recovery, which includes a $21 million payout from Williams’ outside auditors, Ernst & Young LLP, is one of the largest securities class action settlements in history, in which a corporate defendant did not restate its financial results. After a massive discovery effort of more than 150 depositions and 18 million pages of document review, the case settled just a month before trial.
The September 2006 issue of The American Lawyer (“ALM”) featured In re Williams Securities Litigation in its “Big Suits” section. BLB&G Partners Chad Johnson, Blair Nicholas and Mark Lebovitch, BLB&G former partner Beata Gocyk-Farber, and associate Brett Middleton are responsible for prosecuting this action.