Secured a landmark $1.5 billion settlement – one of the largest securities recoveries in European history
Plaintiff(s):
More than 180 institutional investors holding more than 80 million Fortis shares
Defendant(s):
Fortis N.V. and Fortis SA/NV (now Ageas N.V./S.A.)
Case type / claims:
Securities fraud action alleging materially misleading statements regarding solvency, subprime exposure and the ABN Amro acquisition.
Jurisdiction:
The Netherlands (Dutch and Belgian courts)
Year:
2018
Outcome:
- Achieved a record-breaking $1.5 billion (€1.3 billion) settlement – at the time, the largest securities settlement in European history.
- Represented over 180 major institutional investors across at least four coordinated claimant groups.
- Settlement exceeded nearly all U.S. securities recoveries and set a new benchmark for global investor protection.
