Blessing v. SiriusXM Radio, Inc.
Case No. 09-cv-10035(HB)(S.D.N.Y.)
A settlement was obtained in this antritrust class action which arose from the merger of Satellite Radio Inc. and XM Satellite Radio Holdings, Inc.  Sirius XM subscribers alleged that the merger resulted in a monopoly that the merged company abused when it raised prices in an anti-competitive manner. The settlement provides that Sirius XM will forego about $180 million in fees and hold or lower base prices for approximately 14 million subscribers in 2011.

Blank v. Jacobs, et al.
Consolidated Case No. 03-CV-2111 (E.D.N.Y.)
Abbey Spanier has reached settlement agreements with accounting firm defendants Arthur Andersen LLP and KPMG LLP pursuant to which they will pay a total of $1.2 million to resolve Blank v. Jacobs, Consolidated Case No. 03-CV-2111, presently pending in the United States District Court for the Eastern District of New York. The court has preliminarily approved the settlements in this securities class action which involves now bankrupt Allou Health & Beauty Care, Inc. Read More

In re Marsh & McLennan Companies, Inc. Derivative Litigation
C.A. No.753-VCS (Del. Ch., New Castle County)
This case was brought on behalf of nominal defendant Marsh & McLennan Companies, Inc. and its wholly-owned subsidiary, Marsh, Inc. Plaintiffs alleged the failure of oversight and breach of the duty of loyalty by 22 Marsh officers and directors who permitted Marsh to receive kickbacks and steer clients' businesses to insurers that paid Marsh contingent commissions under "market service agreements." Having survived the defendants' motions to dismiss after the Delaware Supreme Court decision in Stone v. Ritter made plain the perils of pleading a failure of oversight claim, the case settled following significant discovery. The settlement provided several benefits to the nominal defendants including substantial insurance proceeds and imposed important corporate governance provisions intended to prevent the recurrence of the wrongs alleged.

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 Sovereign Bancorp Inc. Shareholders Litigation
Case No. 2587 (Court of Common Pleas, Philadelphia County)
This class action and shareholder derivative suit arose out of the announcement of the merger of Banco Santander, S.A. and ("Santander") Sovereign Bancorp, Inc. ("Sovereign"). Plaintiffs alleged that defendants breached their fiduciary duties and issued materially false and misleading statements in connection with Banco Santander's proposed purchase of the shares of Sovereign that Santander did not already own pursuant to a transaction agreement. Read More

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