Cohen Milstein Sellers & Toll PLLC, lead counsel for the plaintiff class, negotiated a $20 million settlement of this securities fraud lawsuit near the end of the second week of the trial in the case.  This is one of only a handful of securities class actions to go to trial since the passage of the Private Securities Litigation Reform Act of 1995.  It involved claims that defendants made misleading statements about projected revenue in Globalstar’s first year of business operations, one of the most difficult types of cases for plaintiffs to prove.  In preliminarily approving the settlement, Judge P. Kevin Castel remarked that plaintiffs’ counsel had “done a terrific job in presenting the case for the plaintiffs.”