Sean Coffey Quoted in Numerous Publications Regarding $2.4 Billion Nortel Settlement
February 8, 2006
The $2.4 billion settlement in the Nortel securities class action, in which BLB&G was lead counsel, has received widespread coverage from several major media outlets such as USA Today, Bloomberg Markets and The New York Times. Nortel was charged with making false and misleading statements with respect to their financial results during 2003 through 2004. This is the fifth largest class action settlement in history.
Former partner Sean Coffey, commenting in Bloomberg Markets, said the settlement "is a result of our careful and in depth scrutiny of Nortel's proprietary financial information, which was analyzed by our investment banking team." The New York Times additionally quoted Mr. Coffey as saying, "The lead plaintiff team came away impressed with the new management's vision and integrity. It's our view that the company is very interested in good corporate governance."
The Nortel Settlement is now one of the ten largest settlements in history, six of which were recoveries where Bernstein Litowitz Berger and Grossmann served as Lead Counsel in the case.
View Significant Recoveries.
Also of Interest
Bernstein Litowitz Dominates ISS SCAS List of Top 100 Securities Settlements of All Time
ISS SCAS Releases Top Securities Settlements Report: Bernstein Litowitz Leads the Field for Ninth Consecutive Year
February 11, 2019
BLB&G Tops List of ISS SCAS Top 50 Securities Fraud Settlements in 2019
March 11, 2020
BLB&G Again Tops SCAS All-Time List With More Top Recoveries Than Any Other Firm
Law360 Highlights BLB&G’s Top Ranking in Review of ISS/SCAS All-Time Top Settlements Report
June 14, 2017
Historic Settlement Establishes Landmark Fox News Workplace Professionalism and Inclusion Council to Remedy Workplace Harassment Issues
November 20, 2017
BLB&G Partner Sal Graziano Quoted in Law360 article, "As Investor Suits Tick Up, Loss Causation May Be A Hard Sell"
May 4, 2020
BLB&G Leads SCAS All-Time List Scoring More Top Recoveries Than Any Other Firm
Chambers Again Ranks BLB&G Top Securities Litigation Firm With Band 1 Rankings In All Categories
April 23, 2020
BLB&G Partner Mark Lebovitch Quoted in Fortune magazine on Business Roundtable’s Repudiation of Shareholder Primacy