Noteworthy Settlements
The success of Abbey Spanier in prosecuting large, complex litigation in the fields of securities, mergers and acquisitions, corporate governance, consumer protection, unfair employment practices and antitrust is demonstrated by the significant results the Firm has achieved for its clients and others. The following is a representative list of some of the more notable cases and settlements achieved as a result of Abbey Spanier’s efforts:

Securities Fraud Litigation

In re BankAmerica Corp. Securities Litigation,
MDL No. 1264 (E.D. Mo.) ($490 million recovery)

In re Waste Manangement, Inc. Securities Litigation,
Master File No. 97-C-7709 (N.D. Ill.) ($220 million recovery)

In re Petro-Lewis Securities Litigation,
No. 84-C-326, (D. Colo.) ($100 million recovery)

In re Chambers Development Securities Litigation,
92 Civ. 0679 (W.D. Pa.) ($95 million recovery)

In re Wedtech Corp. Securities Litigation,
No. 86 Civ. 8628 (S.D.N.Y.) ($77.5 million recovery)

In re IDB Communications Group, Inc. Securities Litigation,
Master File No. CV 94-3618 (C.D. Cal.) ($75 million recovery)

In re Westinghouse Securities Litigation,
No. 91-354 (W.D. Pa.) ($67.5 million recovery)

In re National Health Labs. Securities Litigation,
CV-92-1949 (S.D. Cal.) ($64 million recovery)

In re National Medical Enterprises, Inc. Securities Litigation,
CV-91-5452-TJH (C.D. Cal.) ($60.7 million recovery)

Corporate Governance and Shareholder Rights

In re Cox Communications, Inc. Shareholders Litigation,
Consolidated C.A. No. 613-NC (Del. Ch.) ($700 million increase in purchase price)

In re Seagate Technologies, Inc. Securities Litigation,
C.A. No. 17932-NC (Del. Ch.) ($200 million increase in purchase price)

In re AXA Financial, Inc. Shareholders Litigation,
C.A. No. 18268-NC (Del. Ch.) ($631 million increase in purchase price)

In re Warner-Lambert Co. Shareholders Litigation,
C.A. No. 17519-NC (Del. Ch.) (Warner-Lambert shareholders received approximately $20 billion more than the value of the originally proposed merger with American Home Products.)

In re Cyprus Amax Minerals Co. Shareholders Litigation,
C.A. No. 17383 NC (Del. Ch.) ($900 million benefit to shareholders)

In re Tele-Communication, Inc. Shareholders Litigation,
C.A. No. 16370 (Del. Ch.) ($52 million benefit to shareholders)

Carmody v. Toll Brothers., Inc.,
723 A.2d 1180 (Del. Ch.) (Landmark decision successfully challenging “dead hand” poison pill)

Wage and Hour Litigation

Iliadis, et al. v. Wal-Mart Stores, Inc., Case No. A-69-06 (N.J. Sup. Ct.) (The Court reversed the trial court and Appellate Division’s refusal to certify a class of 72,000 current and former Wal-Mart employees who were forced to work off the clock and miss meal breaks)

Consumer Litigation

Henry v. Sears, Roebuck & Co., No. 98 C 4110 (N.D. Ill.) ($156 million settlement on behalf of Sears Credit card holders, representing approximately 66% of all class members damages distributed automatically to each class member without filing a proof of claim form)

Kropinski v. Johnson & Johnson, Docket No. L-8886-96 (N.J. Sup. Ct.)

Specht v. Netscape Communications Corp., 150 F. Supp. 2d 585 (S.D.N.Y. 2001), aff’d, 306 F.3d 17 (2d Cir. 2002)

Antitrust Litigation

In re Nine West Shoes Antitrust Litigation, 80 F. Supp. 2d 181 (S.D.N.Y. 2000) (Action brought on behalf of purchasers of shoes sold by Nine West and its affiliates resulting in an agreement between Nine West with the Attorneys General of all 50 States and all United States Territories to settle price-fixing claims for $54 million)