Results in ActionLabaton Sucharow has earned an enviable position – and accolades from both the bench and bar – for our landmark successes in some of the largest and most complex securities cases in history. On behalf of major public pension funds and other institutional investors, we have won precedent-setting decisions and billions of dollars in monetary recoveries. In recent years, we have taken on – and defeated – some of the most notorious architects of the recent credit crisis. Against AIG and Countrywide alone, we secured combined settlements in excess of $1.6 billion. We continue to litigate cases against other major participants in the economic downturn, including Goldman Sachs, Bear Stearns, Fannie Mae and Morgan Stanley.
Beyond the billions of dollars we have recovered for our clients, our efforts have compelled sweeping corporate governance reforms and re-shaped how many organizations operate. By way of example, in In re Waste Management, Inc. Securities Litigation, in addition to the $457 million settlement – one of the largest securities class action recoveries in history -- we negotiated corporate governance measures to strengthen the role and independence of the audit committee, improve board accountability and protect whistleblowers. In another action, In re Bristol-Myers Squibb Securities Litigation, we secured a $185 million settlement and sweeping corporate governance reforms that meaningfully altered pharmaceutical industry practices.
For more information about our record recoveries in the area of investor protection, please see our case studies.