• Company
  • Description
  • Recovery Amount
  • Tyco
  • In re Tyco International, Ltd. Securities Litigation
  • $3.2 billion

 

District of New Hampshire

G&E represented two public pension funds as co-lead plaintiffs in a securities class action against Tyco International, Ltd., involving acquisition accounting fraud and looting of the company’s assets by its former officers and directors. After extensive discovery and litigation, the class reached a historic settlement with Tyco for $2.975 billion, the single largest payment from any corporate defendant in the history of securities class action litigation. The class also reached a settlement with Tyco’s former auditor, PricewaterhouseCoopers LLP, for $225 million, the second highest settlement ever reached with an auditor in securities litigation.