SOURCE: Bernstein Litowitz Berger & Grossmann LLP
NEW YORK, NY--(Marketwire - Aug 8, 2012) - The law firm of Bernstein Litowitz Berger & Grossmann LLP continues to dominate the field of securities litigation according to several rankings recently released by industry observers, including Benchmark, Legal 500 USA and Chambers USA. Since the inception of the categories featured by these publications, BLB&G has been named a top firm and is recognized as one of the nation's most highly-regarded litigation boutiques every year.
Chambers Gives BLB&G the Top Ranking
For the seventh year in a row, BLB&G was ranked among the top litigation firms in the field of plaintiff securities litigation by Chambers and Partners' Guide to America's Leading Lawyers for Business. Chambers created this category to recognize a select number of firms who do high-profile work in the area, and has ranked BLB&G a "Band 1" firm since the category's inception. According to Chambers, BLB&G "stands at the forefront of securities plaintiff litigation. The group offers exceptional expertise in prosecuting class and private actions on behalf of both individuals and companies." In their praise for BLB&G, sources have described the firm as "very powerful," noting that it is "very involved in major litigation;" they also refer to the firm as "a leader in mortgage-backed securities litigation, and doing cutting-edge kind of work."
Benchmark - BLB&G is "Highly Recommended"
Compiled by publishers of leading financial news magazines Institutional Investor and Euromoney, Benchmark Plaintiff -- The Definitive Guide to America's Leading Plaintiff Firms and Attorneys recognized BLB&G as one of a select group of firms and attorneys "most capable of handling complex cases." Honored with the publication's top ranking -- "highly recommended" -- in both New York and California, BLB&G is credited for its "impressive achievements and excellent reputation."
Legal 500 Recognizes BLB&G for Both Securities Litigation and M&A Litigation
BLB&G was also named a first-tier firm in securities litigation by the Legal 500 USA guide for the sixth consecutive year. The guide credits BLB&G for providing "excellent service, a very strong legal team, and highly skilled representation in very difficult cases," and is "one of the best law firms for representing plaintiffs in federal securities class actions.'"
In addition, this year is the first in which Legal 500 has recognized plaintiff litigation firms in the "Mergers, Acquisitions and Buyouts - M&A: Litigation" category. BLB&G is one of only a handful of firms named in this category for the groundbreaking work the firm has done "on behalf of institutional investor clients in lawsuits seeking to enforce fiduciary obligations in connection with M&A and going-private transactions that deprive shareholders of fair value."
Obtaining the Highest Recoveries for Investors
As further testament to the firm's accomplishments and reputation, earlier this year BLB&G again topped the "SCAS 50" rankings released by ISS's Securities Class Action Services ("SCAS"), obtaining nearly $1.4 billion in recoveries in 2011 -- more than any other firm in the nation. In addition to achieving the highest total recoveries among all securities class action firms in 2011, BLB&G also has the highest settlement average (nearly $106 million) of any firm. SCAS has compiled the "SCAS 50," its annual report of the top firms prosecuting securities litigation in the U.S., for a decade. Every year since the list's inception, BLB&G has been at or near the top of the rankings -- often with the highest total recoveries, the highest settlement average, or both.
In addition, SCAS publishes the "SCAS 100" which lists the 100 largest securities class action recoveries on record. BLB&G has served as lead or co-lead counsel in nearly 30% of these cases -- more than any other firm in the nation. The firm also has obtained four of the top ten securities fraud recoveries in history -- WorldCom ($6.15 billion), Cendant ($3.3 billion), Nortel ($1.07 billion) and McKesson ($1.04 billion) -- more multi-billion dollar recoveries for investors than any other firm.
Representing the Institutional Investor Community in the Wake of the Credit Crisis
Widely recognized as one of the leading firms advising institutional investors in securities litigation, corporate governance and shareholder rights issues, BLB&G represents a variety of institutional clients in class and private litigation arising from the subprime mortgage meltdown and ensuing global credit crisis. The firm has already recovered well over $2 billion on behalf of its clients in these cases -- including high-profile matters against Wachovia ($627 million), Lehman Brothers ($516 million to date -- ongoing) and Merrill Lynch ($315 million). Further, BLB&G is lead counsel in many significant subprime/credit crisis cases still pending, including actions against Bank of America, Citigroup, Goldman Sachs, Morgan Stanley and J.P. Morgan, as well as dozens of other major Wall Street banks and financial institutions.
About the Firm
Since its founding in 1983, BLB&G has obtained nearly $25 billion in recoveries for investors and achieved precedent-setting corporate governance reforms on behalf of its institutional investor clients. Regularly entrusted by its clients and appointed as lead counsel by the courts in major securities class actions, BLB&G has litigated numerous seminal cases establishing precedents which have increased market transparency, held wrongdoers accountable, and changed corporate business practices in groundbreaking ways. From establishing an industry-accepted definition of director independence and altering the makeup and accountability of corporate boards of directors, to comprehensively upgrading the due diligence process of investment banks, addressing stock options abuses by corporate executives, or protecting the rights of investors and individuals in the wake of the subprime mortgage collapse, the firm's cases have addressed wrongdoing and yielded results which have served as models for public companies going forward.
To read more about the firm's experience and remarkable litigation track record, visit www.blbglaw.com.