9 May – LAWFUEL – The Law News Network – For the second time in as many years, the SCAS 50- a study of the top 50 plaintiff law firms in 2003 by Securities Class Action Services (SCAS), a subsidiary of Institutional Shareholder Services (ISS) – ranked BLB&G # 1 with the highest average settlement (over $288 million four times the total of the second ranked firm) among firms with at least 5 settlements.
BLB&G also achieved by far the highest total of final settlements of any firm in the nation, serving as lead or co-lead counsel in settlements totaling $3.466 billion. 밄ernstein Litowitz had a hand in well over one half of the record $5.98 billion in securities class-action settlement dollars obtained in 2004? Bernstein Litowitz also led the way in terms of average settlement amount,?said Bruce Carton, Executive Director of SCAS.
SCAS first compiled its 밪CAS 50?securities settlement statistics in May 2004, with BLB&G achieving the highest average settlement amount for 2003. 밫he average settlement amount is an important measure because it is an indicator of which law firms are consistently bringing and settling high-impact cases,?Carton said in 2004.
The “SCAS 50” lists the top plaintiffs’ law firms ranked by the total dollar amount of final securities class action settlements occurring in a calendar year, in which the law firm served as lead or co-lead counsel.