Winstar Communications

In re Winstar Communications Securities Litigation, No. 01 Civ. 11522 (S.D.N.Y). The Firm represented Allianz of America Inc., Fireman’s Fund, and other large private institutional investors against Grant Thornton and other defendants arising out of plaintiffs’ investments in Winstar Communications Inc. The firm achieved a settlement on the eve of trial that provided a recovery rate more than 30 times higher than what class members received in a related class action. The recovery (after attorneys' fees) returned a remarkable 78.5 percent of the losses plaintiffs may have recovered at trial.

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