Berman Tabacco

Digital Lightwave

In re Digital Lightwave Securities Litigation, No. 98-152-cv-T-24C (M.D. Fla.)

As co-lead counsel, Berman Tabacco negotiated a settlement that included changing company management and strengthening the company’s internal financial controls. The class received 1.8 million shares of freely tradable common stock that traded at just below $4 per share when the court approved the settlement. At the time the shares were distributed to the members of the class, the stock traded at approximately $100 per share and class members received more than 200% of their losses after the payment of attorneys’ fees and expenses. The total value of the settlement, at the time of distribution, was almost $200 million.

Case Information

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