Contact Information: Contact: Bernstein Litowitz Berger & Grossmann LLP New York, N.Y. Alexander Coxe Marketing Director (212) 554-1423 alex@blbglaw.com
Bernstein Litowitz Berger & Grossmann LLP Announces #1 Ranking in Securities Class Action Litigation by Chambers and Legal 500; Also Ranked #1 in Subprime Related Litigation by Legal 500
NEW YORK, NY--(Marketwire - July 1, 2008) - The law firm of Bernstein Litowitz Berger &
Grossmann LLP ("BLB&G") was once again given top rankings in the field of
plaintiff securities litigation by both Chambers and Partners' ("Chambers")
2008 Guide to America's Leading Lawyers for Business and the Legal 500
United States ("Legal 500"). Chambers awarded the firm the highest ranking
in Plaintiff Securities Litigation and the Legal 500 gave the firm the top
ranking for both Securities Class Action Litigation and Subprime Related
Litigation.
According to Chambers, "BLB&G continues to be selected for the most highly
visible securities fraud litigations... The firm monitors the portfolios,
and is retained as securities litigation counsel, for over 75 of the
country's most significant public pension plans and institutional investors
-- more than any other firm in its field," and Chambers also accredited the
firm as "client-focused" and "trial-driven." Chambers dubbed senior
founding partner, Max Berger, "among the most formidable adversaries in his
field" and co-managing partner, Sean Coffey, "a first-class trial lawyer."
For the third year in a row, BLB&G has received this prominent ranking.
The Legal 500 praised the firm for its "undeniable dominance" in the field,
"snatch[ing] the lead role in many of the largest securities recoveries in
US history," including the record-setting $920 million recovery in the
UnitedHealth stock options backdating derivative action.
The Legal 500 also recognized the firm for its groundbreaking
representation of its clients in connection with the collapse of the
subprime mortgage sector, receiving the top ranking in plaintiff-side
subprime related litigation. According to Legal 500, "best known for its
stellar reputation for plaintiff-side class-action securities work, [BLB&G]
is leveraging this reputation on sub-prime matters" and is "a strong choice
for lead counsel in many matters... due partly to its ability to prosecute
the full spectrum of claims arising in the sub-prime area." Clients praise
the efforts of partner Gerald Silk, who heads the firms Subprime Litigation
Group, stating that they are "very pleased" with the level of
representation he provides. Mr. Silk "regularly appears as a commentator on
news bulletins due to his experience and track record in the market." The
firm is currently representing investors in subprime related actions
against Accredited Home Lenders, American Home Mortgage, and Countrywide
Financial Corporation, among others and is representing retirees in ERISA
class actions, including State Street Bank and State Street Global
Advisors.
Earlier this year, BLB&G was again recognized as the "Class Action Law Firm
of the Year" by Global Pensions for "excellence in service" to the pension
industry. The firm was also given this honor in 2007. The UK based
international pension publication surveyed over 15,000 online readers, and
the final process included a distinguished panel of international judges
made up of key decision makers from pension funds and pension consultants.
Since its founding in 1983, BLB&G has obtained over $20 billion in
recoveries for investors and achieved precedent-setting corporate
governance reforms on behalf of its institutional investor clients. Over
the last several years, the firm has received substantial media recognition
from the many high profile cases it has resolved and is currently
prosecuting. In addition to obtaining unprecedented monetary recoveries,
the firm 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, or
addressing stock options abuses by corporate executives, the firm's cases
have yielded results which have served as models for public companies going
forward.
To read more about our experience and track-record in representing
investors in securities class action litigation and subprime related
litigation, please visit www.blbglaw.com.