After bouncing among a few judges, fending off a motion to dismiss and taking depositions in locations as far away as the Canary Islands, Bernstein Liebhard negotiated a $33 million settlement last year in the City of Austin Police Retirement System’s securities fraud case against Kinross Gold Corp.
For the Austin police pension fund, the settlement provided a “fairly high number” that represented 21 percent of the maximum estimated damages per share for the class, said partner Stanley Bernstein. For Bernstein Liebhard, it brought an end to three years of hard-fought litigation that fit with the New York firm’s style, Bernstein said.
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