Law360 Names BLB&G a Class Action Group of the Year
January 22, 2015
Recognizing litigation and corporate teams that “came through for their clients in 2014, sealing the big deals and winning the high-stake suits,” Law360 named BLB&G one of their Class Action Groups of the Year identifying BLB&G as one of only 8 firms selected nationally.
Among numerous other matters, Law360 highlighted some of the firm’s recent securities fraud class actions, including the $280 million settlement with J.P. Morgan in litigation related to its sale of mortgage-backed securities in the run-up to the financial crisis. It also noted the firm's $99 million settlement from Lehman Brother's former auditor Ernst & Young (E&Y) – one of the biggest-ever recoveries from an auditor, which brought the total amount recovered in the case to $615 million. According to BLB&G partner David Stickney, the lead litigator in the J.P. Morgan and Lehman litigations, this recovery was particularly notable because E&Y never disavowed the statements in question.
For the profile, Law360 interviewed Salvatore Graziano, one of BLB&G’s managing partners, who credited the firm with painting compelling portraits of the harm caused to investors in complex financial matters, a "client-first" attitude and the lawyers' skills in front of courts seen as defense-friendly.
"Our challenge is to take apart the perception some have that this is all about the lawyers and lawyers’ fees," Graziano said. "One thing I can say we've added to this field is that we've made these cases about the class and the investors again, and that's key to our success."