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Berger & Montague, P.C.
Berger & Montague, P.C. Successfully Defends Its Plan of Allocation for Distribution of Settlement Proceeds on Behalf of Former Class a Shareholders of PHLX
February 22nd, 2009
Berger & Montague, P.C. on behalf of the former Class A shareholders of the PHLX successfully defended its plan of allocation for distribution of settlement proceeds in an opinion issued by the Supreme Court of the State of Delaware (en banc) on February 3, 2009 (Steele, C.J.). Thus, the remaining settlement funds that have been held in escrow by counsel for the benefit of the class can now be prepared for distribution to class members who have submitted valid claims. The total settlement is valued at over $99 million. This case was litigated against the Philadelphia Stock Exchange ("PHLX"), the Board of Governors of the PHLX and six major investment firms (UBS...
Source: Pharma Investments, Ventures & Law Weekly (2009-02-22)
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