With more than $3.8 billion in recoveries, Milberg Weiss tops the list of plaintiffs' law firms ranked by the largest total dollar amount of final securities class action suits settlements in 2007 in which the firms served as lead or co-lead counsel.
"There were more settlements in 2007 than at any other time in history," said Adam Savett of RiskMetrics, which released the Securities Class Action Services annual list of the top 50 plaintiffs firms.
The other top firms and their settlement totals are:
- Grant & Eisenhofer -- $3,451,300,000
- Schiffrin Barroway Topaz & Kessler -- $3,302,265,000
- Coughlin Stoia Geller Rudman & Robbins -- $1,853,990,000
- Bernstein Litowitz Berger & Grossmann -- $1,338,110,000
In a RiskMetrics Group press release, Savett said he expects the number of new cases to continue to rise, in part due to the ongoing expansion of the subprime fallout.