Berman Tabacco represented the Fresno County Employees’ Retirement Association and Louisiana State Employees’ Retirement System as co-lead plaintiffs and negotiated a settlement of $300 million in July 2004, when the case was on appeal from an order dismissing the claims. At that time, the settlement was the largest by a drug company in a U.S. securities fraud case. In this case, plaintiffs charged that Bristol-Myers and several of its top officers reported false financial results during the class period, failing to adhere to the standard accounting practices the company claimed to follow.
Case Information- Settlement Amount:
$300,000,000
$300,000,000