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Cases & Investigations
Sunbeam Corp. Securities Litigation

Overview
Overview

Type: Notable Cases

Case Number: 98-8258-Civ.-Middlebrooks

Court: United States District Court for the Southern District of Florida

Settlement Amount: $141,000,000

In In re Sunbeam Sec. Litig., 98-8258-Civ.-Middlebrooks (S.D. Fl.), Wolf Popper, representing institutional investor, A.L. Sarroff, was appointed co-lead counsel. The case was brought against Sunbeam, its auditors, and former officers and directors of the company, including “Chainsaw” Al Dunlap. Plaintiffs reached an aggregate settlement of $141 million, including a partial settlement with Sunbeam’s auditors, Arthur Andersen, for $110 million - one of the largest settlements ever with an accounting firm in a securities class action - and reached a separate settlement with the individual defendants that included more than $18 million in cash plus a separate $13 million recovery from the company’s excess insurance policies.

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Related Attorneys

  1. Robert C. Finkel
  2. Carl L. Stine
  3. Chet B. Waldman

Related Practice Areas

  1. Securities Litigation

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