Verdicts & Settlements
From the March 29, 1999 Michigan Lawyers Weekly.

ERISA

SECURITIES - FRAUD

Injuries alleged: Stock was sold at artificially low prices

Name of case: In re Michigan National Corporation Securities and ERISA Litigation

Court/case no.: U.S. District Court, Eastern District of Michigan, Southern Division, #95-CV-70647-DT

Name of judge: Anna Diggs Taylor

Jury demand: Yes

Amount of settlement: $13.3 million

Date: Dec. 1, 1998

Attorneys for the plaintiff: E. Powell Miller, Lionel Glancy, Andrew D. Friedman, Jeffrey Smith, Elwood S. Simon, Bruce E. Gerstein, Richard Levy Jr., Patrick E. Cafferty, and Richard A. Herman

Attorney for the defendant: Withheld

Other useful information: This was a class-action suit alleging securities fraud and ERISA violation.

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