ROCKVILLE, M.D. (April 4, 2018) – Bernstein Litowitz Berger Grossmann ranks first among plaintiffs’ firms with $639 million in total settlement funds recovered during 2017, according to a new report released today by Securities Class Action Services LLC, a subsidiary of Institutional Shareholder Services.
The SCAS Top 50 analysis shows just one plaintiffs’ law firm surpassed the $500 million threshold, while 10 law firms surpassed the $100 million mark. Bernstein Litowitz Berger Grossmann ranks first among plaintiffs’ firms with $639 million in total settlement funds recovered during 2017, $210 million of which was obtained from the largest 2017 settlement of the Salix Pharmaceuticals Ltd. case. Robbins Geller Rudman & Dowd came in second place with $344 million in total settlement funds recovered. Notably, Bernstein Litowitz and Robbins Geller have both finished in the top two, in various orders, for five straight years.
“With 2017 being a ‘down’ year with regard to North American settlement dollars, it’s not surprising to see the total amounts appear lower than in previously published Top 50 reports,” remarked Jeff Lubitz, Head of ISS Securities Class Action Services. “However, as the Securities Class Action Services team recently reported, 2018 YTD settlement totals have already surpassed all of 2017. As such, I expect next year’s report to show a significant jump for many of the top plaintiff law firms.”
The annually published report, which lists the top 50 plaintiffs’ law firms ranked by the dollar value of final North American class action settlements occurring in 2017 in which the law firm served as lead or co-lead counsel, also ranks the top ten law firms based upon the number of settlements represented for the year. Leading this latter category are two firms: The Rosen Law Firm with 22 settled cases and Robbins Geller Rudman & Dowd, with 21 settled cases.
To download a copy of the report and for further information on ISS’ Securities Class Action Services division, please visit us at: https://www.issgovernance.com/scas.
Editors: Please note that any citation of information, rankings, and statistics contained within the report should be attributed, in full, to “ISS Securities Class Action Services.”