May 15, 2015
Motley Rice in top 10 of ISS 2014 Securities Class Action Services Top 50 report
In its 2014 Securities Class Action Services (SCAS) Top 50 report released on May 13, 2015, Institutional Shareholder Services recognized Motley Rice for recovering the sixth highest aggregate amount for investors in United States securities fraud class actions.
Listing a total of 105 court approved settlements at a combined value of $2.4 billion from 50 firms, the report lists Motley Rice as recovering more than $225 million for clients through five separate settlements in 2014*. This number of settlements also tied the firm for the number 5 ranking in total number of settlements achieved for the year.
Motley Rice securities settlements in 2014 included:
- Hill v. State Street Corp.: $60 million recovered*
- City of Sterling Heights General Employees’ Retirement System v. Hospira, Inc.: $60 million recovered*
- In re Hewlett-Packard Co. Securities Litigation: $57 million recovered*;
The Motley Rice securities team has since secured additional decisions on behalf of shareholders, including a significant settlement with Sprint concerning allegations of false and misleading statements that led up to a 70 percent decline in the company’s stock value in less than six months.
*Prior results do not guarantee a similar outcome.
The SCAS Top 50 reflects all final settlements that resulted in a cash settlement on behalf of shareholders, and is based on historical settlement data from the Institutional Shareholder Services’ database, which tracks federal, state and international shareholder class and group actions, among other information.
Motley Rice brings experienced personnel and financial resources to securities cases through all phases of litigation. Our securities team is backed by an extensive in-house support services team, including professional staff with financial and regulatory backgrounds.