$78.7 million recovery for major municipal pension funds which invested in WorldCom securities

Case Abstract
After advising client to opt out and separately litigate claims, Stephen Lowey and Neil Selinger recovered 100% of damages for securities fraud claims.

Client
Major municipal pension funds which invested in WorldCom securities.

Case Name
In Re WorldCom Securities Litigation.

Result
$78.7 million recovery.

Case Details
In the WorldCom case, Lowey Dannenberg's innovative litigation strategy and aggressive prosecution produced an extraordinary recovery for a group of major municipal pension funds, substantially superior to that of any other WorldCom investor. Following our advice to opt out of a class action in order to litigate their claims separately, our clients recovered 100% of their damages resulting from investments in WorldCom bonds. LDBS partner Neil Selinger was appointed by the court as liaison counsel for all opt out cases.