$11 Million Recovery for Investors Against Radisson
Gilman and Pastor, LLP served as lead counsel in Sullivan, et al. v. Shearson California Radisson Plaza Partners, Limited Partnership, et al., No. 89-5472-JMI (C.D. Cal.), a case arising out of a publicly offered limited partnership wherein claims under the 1934 Exchange Act and the 1933 Securities Act were asserted on behalf of the investors. The case involved complex issues of hotel appraisal and valuation, and resulted in a settlement valued in excess of $11 million on behalf of the class.
$15 Million Settlement in Securities Fraud Action for Securities Market Manipulation.
The firm served as Co-Lead Counsel in In re Blech Securities Litigation, 94-CIV-7696-RWS (S.D. N.Y.) asserting market manipulation claims against the brokerage firm of D. Blech & Co., its principals, its clearing broker, Bear Stearns & Company and several other alleged participants in connection with an alleged scheme to inflate the prices of various biotechnology securities. In a vigorously litigated case, the firm obtained certification of a class of purchasers of 22 separate securities, successfully opposed various motions to dismiss, and, subsequently, motions for summary judgment, and after extensive discovery and trial preparation, negotiated over $15 million in cash settlements on behalf of the class. This case resulted in extremely important reported judicial opinions concerning clearing broker and other liability issues. In re Blech Securities Litigation, 961 F. Supp. 569 (S.D. N.Y. 1997).
$50 Million Recovery for Investors In re Transkaryotic Therapies, Inc. Securities Litigation
In In re Transkaryotic Therapies, Inc. Securities Litigation, No. 03-10165-RWZ (D. Mass.), Gilman and Pastor represented the lead plaintiff in a securities fraud case involving the company’s misrepresentations about correspondence from the FDA with respect to prospects for approval of one of the company’s key products. The litigation resulted in a recovery for the class of $50 Million.
$25 Million Recovery for Investors in Oxford Securities Litigation
Gilman and Pastor, LLP, as lead class counsel, achieved successful settlements in the case of Hutson, et al. v. Merrill Lynch, Pierce, Fenner & Smith, et al. (S.D.N.Y.) and Oxford Tax Exempt Fund Securities Litigation, No. 95-3643 (D.Md.). The cases were resolved after prosecution with total settlements valued in excess of $25 Million. As lead counsel, Gilman and Pastor, LLP was responsible for and managed all aspects of the complex litigation which also involved the subject areas of real estate financing and valuation, secured lending and foreclosure.
$18 Million Recovery in Shareholder Derivative Action Arising from Merger
Gilman and Pastor, LLP served as Co-Lead Counsel in Caven v. Miller, et al. No. H-96-CV-3464 (EW) (S.D. Tex.), a shareholder derivative action arising out of the merger of a publicly held hospital company with and into a firm in the same industry that had been privately held. After the merger, the successor firm downwardly restated its financial results due to its own previously undisclosed accounting irregularities and losses. After defeating motions to dismiss on various grounds, conducting discovery, and engaging in mediations, Plaintiffs recovered over $18 million in benefits on behalf of the successor company from various insiders of both companies involved.
$14 Million Recovery for Investors In re Immunex Securities Litigation
The firm served as one of four co-lead counsel representing a class of securities purchasers in In re Immunex Securities Litigation, No. C92-548 (W.D. Wash.), and obtained a settlement of $14 million.
$14 Million Recovery for Investors In re Granada Partnership Securities Litigation
Gilman and Pastor, LLP was one of five firms actively involved in the In re Granada Partnership Securities Litigation, MDL No. 837 (S.D. Tex.), in which settlements in excess of $14 million were reached with certain of the defendants. This was an extremely contentious lawsuit in which every procedural step was a pitched battle. After protracted litigation with extensive motion practice, the partial settlement was reached, which accounted for virtually all of the available financial resources of the settling defendants.
$25 Million Settlement in Enstar Group Securities Litigation
Gilman and Pastor, LLP successfully obtained settlements totaling in excess of $29 Million from several defendants, including a major accounting firm, a major law firm, and former outside directors for securities law violations.
$60 Million Settlement In Alert Income Parties Securities Litigation
Gilman and Pastor successfully prosecuted a securities action against the promoters of a series of limited partnerships and their auditors, reaching settlement valued at $60 Million.