 § 1658(b).Other milestones in the Firm's history include its involvement in the "US Financial" litigation in the early 1970s, one of the earliest large class actions, which resulted in the $50 million recovery for purchasers of the securities of a failed real estate development company; Other cases included the Ninth Circuit decision in Blackie v. Barrack in 1975, which established the fraud-on-the-market doctrine for securities fraud actions; the Firm's co-lead counsel position in the In re Washington Public Power Supply System (WPPSS) Securities Litigation, a seminal securities fraud action in the 1980s in terms of complexity and amounts recovered; the representation of the Federal Deposit Insurance Corp. in a year-long trial to recover banking losses from a major accounting firm, leading to a precedent-setting global settlement; attacking the Drexel-Milken "daisy chain" of illicit junk-bond financing arrangements with numerous cases that resulted in substantial recoveries for investors; and representing life insurance policyholders defrauded by "vanishing premium" and other improper sales tactics and obtaining large recoveries from industry participants.Milberg's attorneys also argued another important case in 2007 before the high court in Tellabs Inc. v. Makor Issues & Rights Ltd.