ISS SCAS: BLB&G Dramatically Leads the Field with More Top Recoveries than Any Other Firm in History

February 11, 2019

ISS/Securities Class Action Services ("ISS/SCAS") has published its "Top 100 U.S. Class Action Settlements of All Time" report (data compiled through December 31, 2018). 

BLB&G is once again alone at the top of the industry, having been Lead or Co-Lead Counsel prosecuting 35 of top 100 cases in history – more top recoveries than any other firm and more than double the nearest competitor.

The report highlights BLB&G's remarkable track record, this year adding 3 new historic recoveries to the list:  Wells Fargo & Company ($480 million), Allergan, Inc. ($250 million); and Wilmington Trust Corp. ($210 million). 

The report highlights several data about BLB&G’s achievements as it has:

  • Served as lead or co-lead counsel in 35 of the top 100 U.S. securities fraud settlements
  • Recovered nearly 40% of all the settlement dollars represented in the report (over $25 billion – billions more than any other firm on the list); and
  • Secured a dozen settlements over $500 million and six over $1 billion - more multi-billion dollar recoveries than any other firm.

Also, according to the report, 92% of the top cases of all-time have been led by institutional investors, representing an increase by 1% over last year.  The institutional investor community continues to make strides in holding wrongdoers accountable and increasing market transparency by prosecuting meritorious securities cases and securing billions of dollars of recoveries for investors.

In an interview with legal newswire Law360, BLB&G Partner Jerry Silk said that institutional investors’ willingness to lead these big cases sends a signal to the markets that inappropriate conduct won’t be tolerated.  “The people with the largest positions in the securities markets are prepared to step up and litigate if that’s what’s required…We’re honored and privileged to represent the institutional investor community in so many of these high-profile matters, and grateful for the faith our clients have placed in us.”

Mr. Silk also gives due credit to institutional investors who have placed their trust and confidence in BLB&G, allowing the firm to “go toe-to-toe with large corporations and global firms” on their behalf.  According to him, the “cases share the commitment of institutional investors who have a stake in the financial markets, who when they see wrongdoing are willing to stand up against some very powerful corporations with the best law firms representing them and fight the fight in what they believe to be right."

External Link: Click here to view report. (link will open in a new window)