We are pleased to announce that the Daily Journal (subscription) has named Lieff Cabraser partners Elizabeth J. Cabraser and Richard M. Heimann to its third annual listing of “Leading Commercial Litigators in California” The award recognizes attorneys who have been lead counsel on major litigation that has significantly impacted the state.
Elizabeth was recognized for her leadership in securing $2 billion in settlements with vaping companies accused of addicting youth to nicotine. She was also honored for her work in ongoing opioid litigation, representing third-party payors such as labor union health and welfare funds. Her efforts include negotiating a $300 million class settlement with three major distributors to help recover costs associated with the opioid crisis.
Richard was honored for his role as Co-Lead Plaintiffs’ Counsel in the Wells Fargo shareholder derivative litigation, which secured a historic $240 million settlement—the largest insurer-funded derivative settlement in history. The case alleged that Wells Fargo’s Board and executives knowingly allowed employees to create millions of unauthorized accounts to inflate sales metrics, leading to major corporate governance reforms.
Additionally, Richard is actively engaged in a high-profile shareholder derivative lawsuit against Elon Musk and several of Tesla’s board members, alleging Musk manipulated Tesla’s stock price and misused corporate resources. The case, brought on behalf of the Employees’ Retirement System of Rhode Island, claims Musk engaged in unlawful stock sales tied to his Twitter (now X) acquisition and diverted Tesla employees to work on his personal ventures.
Congratulations to Elizabeth and Richard on this prestigious and well-deserved recognition!
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