February 2006
Former partner Sean Coffey, Co-Lead Counsel in In re WorldCom Inc., Securities Litigation, was featured in the February 2006 New York Law Journal supplement “The Top Trials of 2005,” as the lead trial attorney responsible for recovering over $6.15 billion on behalf of the investor class in the WorldCom case.
BLB&G served as Co-Lead Counsel for Lead Plaintiff, The New York State Common Retirement Fund, represented by the New York State Comptroller. After nearly three years of litigation, the Lead Plaintiff team muscled the largest recoveries ever from several of the largest banks in the world, extracted unprecedented out-of-pocket payments totaling nearly $25 million from WorldCom's outside directors, and, after four weeks of trial obtained a $65 million settlement from Arthur Andersen, WorldCom's former auditor.