For the second time in as many years, the “SCAS 50” - a study of the top 50 plaintiff law firms in 2004 by Securities Class Action Services (SCAS), a subsidiary of Institutional Shareholder Services (ISS) - ranked BLB&G # 1 with the highest average settlement (over $288 million – four times the total of the second ranked firm) among firms with at least 5 settlements.
BLB&G also achieved by far the highest total of final settlements of any firm in the nation, serving as lead or co-lead counsel in settlements totaling $3.466 billion. “Bernstein Litowitz had a hand in well over one half of the record $5.98 billion in securities class-action settlement dollars obtained in 2004…. Bernstein Litowitz also led the way in terms of average settlement amount,” said Bruce Carton, Executive Director of SCAS.
"…Consistently bringing and settling high-impact cases…"
SCAS first compiled its “SCAS 50” securities settlement statistics in May 2004, with BLB&G achieving the highest average settlement amount for the 2003 calendar year. “The average settlement amount is an important measure because it is an indicator of which law firms are consistently bringing and settling high-impact cases,” Carton said in 2004.
The "SCAS 50" lists the top plaintiffs' law firms ranked by the total dollar amount of final securities class action settlements occurring in a calendar year, in which the law firm served as lead or co-lead counsel.
Click here to view the SCAS' Top 50 for 2004.