Practice Area: Securities / Investment Fraud
Outcome: Settlements of more than $2.5 Billion
Description: Mr. Mogin initiated, litigated and coordinated prosecution of 11 separate class and derivative actions involving the investment banking firm of Drexel Burnham Lambert and the head of its junk bond operations, Michael Milken, including MDL 834, MDL 871, MDL 880 and MDL 901. These actions were filed in state and federal courts throughout California and some were later joined by the Federal Deposit Insurance Corporation and the Resolution Trust Corporation. Mr. Mogin served as one of a core group of "Pooled Claims Counsel." The Pooled Claims resulted in settlements valued at over $2.5 billion. The Drexel and Milken portions of the Class A settlements involving cases handled by Mr. Mogin exceeded $225 million. Approximately $100 million was also recovered from other defendants, including the alleged "auditor of choice" of the Drexel Daisy Chain as well as directors and officers of the many companies involved.