Class Action Settlements and Certifications
Print PageLDGR announces final approval of a $193 million settlement in the nationwide securities fraud class action against Motorola, Inc. LDGR serves as Co-Lead Counsel for the Class, and for the court-appointed Lead Plaintiff, the State of New Jersey, Division of Investment. The settlement was reached shortly before trial was scheduled to begin, after four years of hotly contested litigation, in the United States District Court for the Northern District of Illinois. The settlement is one of the largest securities fraud settlements ever in the Seventh Circuit.
LDGR announces final approval of a $216.5 million settlement in the nationwide securities class action against Tenet Healthcare Corporation. LDGR serves as Co-Lead Counsel for the Class. The case was filed in 2003 in the United States District Court for the Central District of California. $215 million of that settlement will come from Tenet, while $1.5 million is being paid by former officers of Tenet, who are also defendants. The Class is continuing to pursue claims against KPMG in the litigation.
LDGR announces final approval of a $768 million settlement in a nationwide insurance sales practices class action against Massachusetts Mutual Life Insurance Company. LDGR serves as Co-Lead Counsel for the Class. The settlement, which has been approved by the United States District Court for the District of New Jersey, is the third largest insurance sales practices settlement in history. It represents the culmination of nearly ten years of litigation in courts around the country.
LDGR announces final approval of a $185 million settlement of a nationwide securities class action against Bristol-Myers Squibb. LDGR serves as liaison counsel for the Class. The settlement was granted final approval by the United States District Court for the District of New Jersey at a hearing on May 11, 2006.
LDGR announces final approval of a settlement in a consumer fraud case involving model year 2000 and 2001 Ford F-150 vehicles. The settlement covers four states, New Jersey, Pennsylvania, California, and South Carolina. LDGR obtained certifications of New Jersey and Pennsylvania classes and was named Co-Lead Counsel for those classes. The plaintiffs alleged that Ford had charged extra for towing packages on the F-150 vehicles, that part of that extra charge was for an upgraded radiator, and that, as Ford later admitted, Ford did not equip any of those vehicles with the upgraded radiator. The settlement provides every class member with the right to make a claim for what discovery revealed was the full value of the difference between the standard and upgraded radiators, or for 50% of the actual cost that a class member paid to have the upgraded radiator installed.
LDGR announces two partial settlements in In re Insurance Brokerage Litigation, a multi-district litigation that is pending in the United States District Court for the District of New Jersey. LDGR serves as Liaison Counsel for the Commercial Case in that matter. The Zurich Defendants have agreed to pay at least $121.8 million, and the Gallagher Defendants have agreed to pay $28 million. Both of those partial settlements have received final approval from the court. For further information on the settlement, including important deadlines, please visit www.insurancebrokerageantitrustlitigation.com. For current information on the litigation, please visit www.insurancebrokerageclasscounsel.com. Click here to read the Class Notice. Click here to view the Claim Form.