For the second time in as many years, the “SCAS 50” ranked BLB&G # 1 with the highest total dollars recovered on behalf of investors. In 2005, BLB&G obtained 9 settlements totaling $3,745,600,714.00 - nearly half of all monies recovered in 2005 - and an average of over $416 million per settlement, the second highest average in history for firms obtaining 5 or more settlements in one calendar year.
The "SCAS 50" is a study of the top 50 plaintiff law firms in the U.S. by Securities Class Action Services (SCAS), a subsidiary of Institutional Shareholder Services (ISS). The list ranks the top plaintiffs' law firms 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.
Bruce Carton, Vice President of ISS, stated “We’ve pretty consistently seen the same firms at or near the top…We’ve seen the same pattern in terms of some firms having big-dollar, high impact but a low number of cases....The firms on our 'SCAS 50' list were the leaders in obtaining these recoveries. For the second year in a row Bernstein Litowitz Berger & Grossmann led the way, with over $3.7 billion in 2005."
"…Consistently bringing and settling high-impact cases…"
SCAS first compiled its “SCAS 50” securities settlement statistics in May 2004, and BLB&G achieved the highest average settlement amounts of firms with 5 or more settlements in both the 2003 and 2004 calendar years. “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.