ISS’s Securities Class Action Services (“SCAS”) has issued a list of the top 50 plaintiffs’ law firms ranked by the total dollar amount of final securities class action settlements occurring in 2003 in which the law firms served as lead or co-lead counsel.
Securities Litigation Watch, the blog authored by Bruce Carton of SCAS, also has a post summarizing the results.
Not to be outdone, Cauley Geller Bowman & Rudman, another well-known plaintiffs’ securities class action firm, also has announced a split. Cauley Bowman Carney & Williams PLLC is based in Little Rock and Geller Rudman PLLC is based in New York. Each new firm has around 15 attorneys.
Addition: The official press release was issued on May 6.
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Initially announced last June, the breakup of Milberg Weiss Bershad Hynes & Lerach, widely recognized as the leading plaintiffs’ securities class action firm, is finally complete. With little fanfare, the firm has split as of May 1 into Milberg Weiss Bershad & Schulman LLP (headquartered in New York) and Lerach Coughlin Stoia & Robbins LLP (headquartered in San Diego).
Although the split generally follows geographical lines, it will not stay that way for long. An article in today’s Financial Times states that one of the name partners of Lerach Coughlin sees “the new firm growing to more than 150 lawyers by the end of the year and opening new offices in New York, Florida, Philadelphia and Washington, DC.” Indeed, the websites already show both firms as having offices in Los Angeles and Washington, D.C. (but only Lerach Coughlin has attorneys listed in those locations).
Addition: The new firms have issued a joint statement. Of course, they also have separate thoughts on the matter (click here for Lerach Coughlin’s press release).
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