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Wednesday, July 19, 2006

Hatfields and McCoys Announce Proposed Settlement

400pxhatfieldclan

OK, it's not exactly the Hatfields and McCoys (the Hatfield clan is shown here, circa 1897), but in this press release dated June 29, 2006, Milberg Weiss and Lerach Coughlin announced a proposed settlement of the securities class action against Imperial Chemical Industries, PLC.  In an odd twist, the now-divided Milberg Weiss and Lerach Coughlin law firms somehow ended up as co-lead counsel in this case.  According to the SCAS database, however, these firms serving as co-lead counsel is not as rare as one might assume:  our database shows that this has occurred in 10 cases (8 settled, 1 dismissed, 1 still active).

The amount of the proposed settlement in the Imperial Chemical case?

[Drum roll...]

$3.8 million, less 1/3 for attorneys' fees and $100,000 in expenses.

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