Bernstein Liebhard & Lifshitz, LLP Announces Final Approval of Lumenis Securities Class Action Settlement

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On August 25, 2008, Judge Deborah A. Batts of the U.S. District Court for the Southern District of New York gave final approval to a $20.1 million securities class action settlement with Lumenis Ltd. and certain individual defendants in In re Lumenis Securities Litigation, No. 02-CV-1989 (S.D.N.Y.). The lead plaintiffs, represented by co-lead counsel Bernstein Liebhard & Lifshitz, LLP, had alleged that defendants engaged in improper revenue recognition.

Berntein Liebhard & Lifshitz - Recognized as one of the top Plaintiff's firms in the United States by the National Law Journal for the past six years. An achievment shared by only one other law firm.

the quality of the representation to achieve what they have achieved speaks for itself. The quality was extremely high.

Bernstein Liebhard & Lifshitz, LLP announced that on August 25, 2008, Judge Deborah A. Batts gave final approval to a $20.1 million settlement with Lumenis Ltd. and certain individual defendants in In re Lumenis Securities Litigation, No. 02-CV-1989 (S.D.N.Y.). The lead plaintiffs had alleged that defendants engaged in improper revenue recognition.

The case settled during the pendency of defendants' motion to dismiss, after lead plaintiffs, represented by co-lead counsel Bernstein Liebhard, had reviewed more than 100,000 pages of documents produced by Lunenis relating to lead plaintiffs' allegations.

In approving the settlement, Judge Batts noted that "the quality of the representation to achieve what they have achieved speaks for itself. The quality was extremely high."

The settlement, secured at an early stage of the litigation, represents an excellent result for the class. Said Bernstein Liebhard partner Jeffrey M. Haber, "We are happy to have achieved a result that is truly in the Class's best interests."

Bernstein Liebhard is one of the preeminent plaintiffs' law firms in the country, representing shareholders and consumers in both class and individual cases. The firm has been named to The National Law Journal's "Plaintiffs' Hot List" for the last six years.

For more information, contact Jeffrey M. Haber at haber@bernlieb.com.

Bernstein Liebhard & Lifshitz, LLP
10 East 40th Street
New York, New York 10016
(877) 779-1414

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