|Court:||United States District Court for the Northern District of California|
The $259 million cash settlement obtained in this case was granted final approval from the Court on February 23, 2001, at the time making it the largest cash settlement ever recovered from a corporate defendant in a securities fraud class action in the Ninth Circuit.
The lawsuit was filed on behalf of purchasers of 3Com common stock during the period May 19, 1997 through November 6, 1997, alleging that defendants knowingly and recklessly caused 3Com to issue materially false and misleading statements to the financial community regarding the Company's products, inventory and distribution. The Consolidated Amended Class Action Complaint further alleged insider trading on these publicly disseminated materially false and misleading statements.
In this action the firm represented Lead Plaintiffs the Louisiana School Employees' Retirement System and the Louisiana Municipal Police Employees' Retirement System.
- Awards The National Black Lawyers Association Selects Associate Matthew Traylor for Membership & "Top 40 Under 40" List October 18, 2021 Learn More
- Awards Benchmark Litigation Again Names BLB&G One of the Top Firms in the Nation in 2022 Guide October 5, 2021 Learn More
- Events Katie Sinderson Serves as Panelist at OPFTEC 2021 on "The Role of Securities Litigation in Pension Funds" October 1, 2021 Learn More
- Events BLB&G Partners John C. Browne and Jeremy Robinson Present "Video Depositions: The Case for Their Continued Relevance in a Post-Quarantine World" Webinar October 1, 2021 Learn More
- Events BLB&G Partner Jeroen van Kwawegen Speaks at Broadridge Webinar on "International Opt-In Cases: Evolving Mechanisms for Collective Redress" September 30, 2021 Learn More