Milberg has built its name and reputation upon representing consumers and investors in class-actions suits against corporate misconduct and is among the best at what it does. Its specialties in mass tort law, securities, antitrust, bankruptcy, ERISA, consumer, insurance and human rights have attracted clients like Sears Roebuck and PriceWaterhouseCoopers and sends big companies like Xerox, from which it, as co-lead counsel, won a $750 million settlement, one of the largest recoveries in the history of securities litigation, even after three motions to dismiss, running for the hills.
Larry Milberg and Melvyn I. Weiss formed the firm formerly known as Milberg, Weiss in 1965, around the time of the Supreme Court’s new amendment of Rule 23 of the Federal Rules of Civil Procedure. The firm played a vital role in ironing out the implications of this amendment, which meant that securities fraud cases could be prosecuted as class-action lawsuits. Throughout the 1970s, Milberg took on several history-making cases that increasingly bridged the connections between these two areas of law, such as Blackie v. Barrack (1975), which set a precedent for the “fraud on the market rule,” a measure of judging plaintiff claims. In 1994, the firm continued to make history by serving as co-lead counsel in In Re Washington Public Power Supply System Securities Litigation to acquire a securities fraud settlement of $775 million--the largest for its time. In the 1990s, the firm grew to over 200 lawyers and was the biggest firm to represent shareholders in securities fraud lawsuits. Financial analyst group RiskMetrics released a report that found that in the 100 largest settlement securities class action cases since 1996, Milberg had been either lead or co-lead counsel, and in 2007, it was ranked the first among 50 national class-action firms in numbers of cases prosecuted.
After its 2008 setback, in which four guilty partners were sent to prison for bribery, Milberg rebounded with a shortened name and revitalized practice. Milberg has since landed on the National Law Journal’s“Plaintiffs’ Hot List,” Legal 500 top-tier plaintiffs’ firm, Law360 Plaintiffs’ Securities Firm of the Year, LawDragon, Super Lawyers and Chambers USA. Nowadays it makes its name with cases like its $180 million antitrust settlement against Sirius XM Radio, which had been accused of merging Sirius Satellite Radio with XM Satellite Holdings to monopolize the satellite radio industry.
Taking on the Big Guys: Enron and Madoff
Milberg has fought for victims of some of the most infamous corporate scandals. The firm was lead counsel in the Enron class-action suit of 2002 and was instrumental in achieving a $72 billion settlement for shareholders. Milberg famously participated with theatrical flair, to boot; a partner publicly pushed a wheelbarrow full of shredded documents to the steps of the Enron building. In 2009, Milberg took on representation and counsel for 100 victims of the Madoff Ponzi scheme who had suffered total losses of $1.5 billion to $2 billion.
Queen-Approved, Emmy-Winning Appellate Lawyer
Working here won’t guarantee you an Emmy or a British commandership, but you’ll be in good company. The head of Milberg’s appellate practice group and Special Counsel, NYU School of Law Professor Arthur R. Miller, was named Commander of the Order of the British Empire (CBE) by Queen Elizabeth II for his gift of more than 1,800 Japanese woodblock prints by the 19th century artist Utagawa Kuniyoshi to American Friends of the British Museum. Miller was also recognized for being a BBC moderator and public policy commentator for Granada Television, where he led a series of panel discussions modeled after his Emmy-winning PBS “Fred Friendly” dialogues.
One Pennsylvania Plaza
New York, NY 10119-0165
Phone: (212) 594-5300
Employer Type: Private
Total No. Attorneys 2014: 48
New York, NY (HQ)
Los Angeles, CA
False Claims Act Litigation
Human Rights Litigation
Mass Tort/Environmental Litigation