BLB&G’s Record Subprime Recoveries the Subject of Feature Coverage by The AmLaw Litigation Daily
March 19, 2013
In its feature article, “Deal Puts Bernstein Litowitz over $5 Billion Mark in Subprime-Era Settlements,” The AmLaw Litigation Daily profiles several of BLB&G’s recent recoveries, crediting the firm for obtaining “a whopping $5 billion in recoveries related to the subprime mess.”
According to the article, the nearly $5.5 billion in combined recoveries from 19 crisis-era settlements is “a good measure beyond any other securities class action plaintiffs firm,” and over three times its nearest competitor. With its recent $730 million bondholder settlement with Citigroup, BLB&G has the top three subprime recoveries ever achieved - having already obtained two other mega-settlements - including the $2.43 billion shareholder settlement in Bank of America and the $627 million settlement in Wachovia.
In the past five months alone, BLB&G has recovered nearly $4 billion of its total recoveries on behalf of investors. In addition to the Citigroup settlement, BLB&G has also recently obtained $688 million in two actions: In re Schering-Plough Corporation/ENHANCE Securities Litigation, ($473 million); and In re Merck & Co., Inc. Vytorin/Zetia Securities Litigation ($215 million). These settlements are subject to Court approval.