Settlements

Goldweber v. Sterling Equities Assocs., et al.
Case No.10-cv-5786 (PAC)
On February 27, 2012, Abbey Spanier as counsel for Plaintiff Elyse Goldweber, entered into a settlement agreement with Defendants Sterling Equities Associates, Fred Wilpon, Arthur Friedman and Michael Katz (owners of the New York Mets) to resolve a class action lawsuit brought on behalf of a class consisting of all persons, and their successors in interest, who were participants or beneficiaries of the Sterling Equities Associates Employees Retirement Plan at any time between May 1, 1997 and December 12, 2008, and whose Plan account included investments with Bernard L. Madoff Investment Securities, LLC (the "Settlement Class"). Read More

Iliadis, et al. v. Wal-Mart Stores, Inc.
Case No. MID-L-5498-02 (N.J. Sup. Ct., Middlesex Co.)
Abbey Spanier successfully appealed the denial of class action certification by the trial court in the New Jersey Supreme Court. On May 31, 2007, in its first full treatment of the state's class action rule since 1983, the New Jersey Supreme Court reversed the trial court and directed an entry of an order certifying the class.  After class certification and further proceedings, a settlement was reached providing for injunctive relief and the payment by Wal-Mart of up to $28 million.  On November 17, 2009, the trial court approved the settlement.

On May 16, 2011, the First and Second Distributions for Class Members was made. Anyone for whom the claims administrator had a correct address, and did not opt-out of the Settlement was mailed a check for their portion of the settlement. These checks expire in 90 days.

For more information regarding this case please go to the following website: www.walmartnjclassaction.com

In re Adelphia Communications Corp. Securities & Derivative Litigation
Case No. 03 MD 1529 (LMM) (S.D.N.Y.)
This class action arises out of one of the most egregious financial frauds ever uncovered at a public company. From 1998 through 2002, Adelphia Communications Corporation --- the nation's sixth largest cable company --- systematically and fraudulently failed to report billions in loans. Plaintiffs entered into partial settlements with Adelphia's independent auditors, Deloitte & Touche, LLP, and with investment banking firms and lending banks. Judge Lawrence M. McKenna observed: "If the Lead Plaintiff(s) had been represented by less tenacious and competent counsel, it is by no means clear that [they] would have achieved the success [they] did here on behalf of the Class." On August 18, 2009, Lead Plaintiffs, on behalf of themselves and the members of the settlement class, entered into a stipulation and agreement of settlement with many of the former director and officer defendants of Adelphia, including members of the Rigas family. Read More

In re Medco Health Solutions Pharmacy Benefits Management Litigation
Case No. 03-MD-1508 (CS) (S.D.N.Y.)
This case was litigated through summary judgment motions and a settlement that provides for a cash settlement fund in the amount of $42.5 million and significant changes in practice at Medco. The settlement has been approved by the Court and counsel anticipates that the settlement fund will be distributed to those class members that submitted identification forms within the first half of 2010. Read More