Berman Tabacco

Heartland High-Yield Municipal Bond Fund

White v. Heartland High-Yield Municipal Bond Fund, No. 00-C-1388 (E.D. Wis.)

Berman Tabacco attorneys conducted a three-week jury trial against final defendant, PwC, before a settlement was reached for $8.25 million. The total settlement amount was $23.25 million. This was one of the first cases to go to trial after the passage of the Private Securities Litigation Reform Act of 1995. After the conclusion of the proceedings, the presiding judge commented that “… [I]n the context of the trial of this case, the lawyers did what I would describe as a masterful job… And I truly commend counsel for the approach that they took in not only pulling all of the appropriate data together, but the industry with which they approached the entirety of the litigation.”

Case Information

  • Settlement Amount:
    $8,250,000 (total settlement was $23,250,000)