Bloomberg Markets magazine Profiles Sean Coffey and Highlights the Impact of the WorldCom Litigation in "Wall Street's New Nemesis"
September 2005Former partner John P. ("Sean") Coffey, lead trial counsel for the investor class in the In re WorldCom, Inc. Securities Litigation, is the subject of a feature article in the September 2005 issue of Bloomberg Markets magazine.
The article, entitled "Wall Street's New Nemesis," discusses both Mr. Coffey's personal history and professional standing, focusing in particular on the tactics and strategies he and the BLB&G legal team employed in the WorldCom case. By setting firm trial dates and penalizing the investment bank and auditor defendants who wait too long to settle, the BLB&G team muscled some of the world’s biggest banks into paying WorldCom investors more than $6 billion in settlement monies.
As the article details, Mr. Coffey’s “status among plaintiffs attorneys has forever elevated following the massive payoff – and the new legal precedents – stemming from the WorldCom case.” Many observers, including Mr. Coffey, believe that the value of WorldCom lies in the cases that will never occur. Coffey says:
"[H]aving hammered these banks in their wallet, where it really matters, they [the banks] are already taking steps to do better due diligence...the way you change behavior on Wall Street is by hurting them in the pocketbook because that is what the Street is all about.”
Also of Interest
BLB&G Allianz Structured Alpha Funds Team Announces New Case Filing
October 16, 2020
BLB&G Receives Multiple Honors - Including “Top Plaintiff Firm” Award - At Benchmark’s Annual Awards Ceremony
February 28, 2019
Forbes Highlights Pivotal Role of Private Shareholder Litigation in Checking Corporate Misconduct
June 29, 2018
BLB&G Chief Marketing Officer Lisa Olney profiled in Bloomberg Law article, "INSIGHT: New Law Firm CMOs Cite Hiring, Client Input"
December 30, 2019
Benchmark Again Names BLB&G the Top Plaintiff Firm in the Nation
BLB&G Named A Top Securities Practice by Law360
The American Lawyer Highlights the Hiring of BLB&G Chief Marketing Officer Lisa Olney
August 21, 2019
Katie Sinderson Honored As Law360 Titan of The Plaintiffs Bar
The New York Law Journal Names Mark Lebovitch Its 2019 “Attorney of the Year"
October 23, 2019
MarketWatch Documentary on #metoo Features Coverage of BLB&G’s Landmark Fox News Litigation
November 2, 2018