Richard Schiffrin, the Radnor lawyer who helped fashion yesterday's huge payment by Tyco International Ltd. to aggrieved shareholders, said the case might have been the most complex securities litigation ever. Tyco provided 80 million e-mails, spreadsheets and other documents as part of discovery.May 16, 2007
What was the FDIC v. PwC case?
FDIC & Colonial BancGroup v. PwC (M.D. Ala. 2017-2018)#N#Defended PwC against Colonial Bank and the FDIC in a suit filed after the collapse of PwC's audit client Colonial Bank. Colonial Bank sought several hundred million dollars in damages. The FDIC sought over $2 billion in actual damages, plus unspecified punitive damages. Following a bench trial on liability, the court ruled for PwC on the entirety of Colonial Bank's claim. The court ruled against PwC on some of the FDIC's claims and in favor of PwC on others. The court also ruled in favor of PwC on the FDIC's request for punitive damages. Following a bench trial on damages, the court awarded the FDIC $625 million. Before judgment was entered, and while post-trial motions were pending, the parties settled the case for $335 million. One member of the FDIC's board of directors publicly dissented from the settlement because it did not contain an acknowledgment of liability by PwC.
Who is Mark Levine?
Mark Levine has served as lead counsel in trials before judges, juries and arbitrators in various types of commercial litigation, with a focus on patent and trade secret matters. Mark has tried over twenty cases, with a majority as lead counsel.
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