img-page-entry-06.jpg

Cases

Featured Cases

Four Ohio public pension funds and the New York State Common Retirement Fund are lead plaintiffs in this securities case against BP stemming from one of the worst oil spills in history. Berman DeValerio is co-lead counsel.

The State of Michigan Retirement Systems, as lead plaintiff, negotiated $294.9 million in settlements in this marquee case arising from one of the highest-profile collapses of the 2008 financial meltdown.

This case was on appeal when the defendants agreed to a $300 million cash settlement following a district court judge’s dismissal of the claims.

Representing CalPERS, the nation's largest public pension fund, Berman DeValerio achieved settlements totaling $255 million from two rating agencies—Standard & Poor's and Moody's—for CalPERS' claims that the agencies top "AAA" ratings on the senior notes of three structured investment vehicles (SIVs) were negligent misrepresentations under California law. The settlements rank as the largest known recoveries from Moody's and S&P in a private lawsuit for civil damages relating to ratings.

Berman DeValerio brought the first action centered on so-called “reverse payments” between a brand name drug maker and a generic drug maker. It resulted in an $80 million settlement from the companies accused of keeping a generic version of the blood pressure medication Cardizem CD off the market.

The firm’s work in this $295 million case – believed to be the first successful prosecution of diamond giant DeBeers under U.S. antitrust laws – serves as a template for corralling foreign monopolists.

Defrauded investors ended up recovering more than $200 million – twice what they had lost – thanks to a carefully calculated decision to include undervalued stock in the settlement.

Recouping $170 million of investors’ losses in Fannie Mae without further burdening taxpayers required innovative legal strategies with the defendant company under U.S. government conservatorship.

Representing the Wyoming State Treasurer's Office and the Wyoming Retirement System as lead plaintiffs, Berman DeValerio achieved settlements totaling $346 million in a case regarding the securitization and sale of mortgage-backed securities by IndyMac Bank and related entities.

The firm represents a class of foreign investors who sought to obtain green cards by investing in the Jay Peak ski resort through the Federal EB-5 Immigrant Investor Program. The class seeks to recoup over $200 million of investor funds that were misappropriated by Ariel Quiros and William Stenger, with the assistance of Raymond James and People's Bank.

Attorneys cut an innovative deal with Belgian prosecutors to obtain seized documents that proved pivotal to plaintiffs’ success. Two lawsuits stemming from a fraud that left Lernout bankrupt settled for a total of more than $180 million.

In a derivative action on behalf of Oracle Corporation, Oracle Chief Executive Officer Lawrence J. Ellison made $100 million in charitable donations in Oracle's name to resolve insider trading claims.

This case accused Toys“R”Us of colluding with toymakers to keep popular toys out of discount stores. As part of the $56 million settlement, Toys”R”Us agreed to donate $36 million in toys to charity. The case developed the antitrust laws with respect to a “hub and spoke” conspiracy where a downstream power seller coerces upstream manufacturers to the detriment of consumers.

California consumers charged that Union Oil Company and Unocal Corporation manipulated the market for summertime reformulated gasoline. A creative settlement delivered clean air benefits and funding for alternative fuels research.

It took nearly a decade of hard-fought litigation, but when this shareholder lawsuit settled for $750 million, it ranked as the tenth largest of all time. The firm represented the only institutional lead plaintiff in the case, the Louisiana State Employees’ Retirement System.