Berman Tabacco

Bristol-Myers II

In re Bristol-Myers Squibb Securities Litigation, No. 02-cv-2251 (S.D.N.Y.)

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