It means that they have paid a fee of $400, and filled out a form claiming that they have achieved a verdict or settlement on behalf of a client in an amount of $1 Million dollars or more. That's it.
There's no verification process, there's no organization that checks or confirms that the lawyer did in fact achieve such a result. Rather, this organization relies on the lawyer to accurately state that this is the result they achieved. Oh yes, did I mention that they have to pay a $400 to get their fancy "Certificate" that they can now hang in their office to show everyone who walks in?
Here's my question: Why does a lawyer feel the need to display a certificate, that they paid for, to show clients and friends what they have achieved? In my opinion, they don't. Instead, why don't these lawyers simply enlarge an exhibit from that million-dollar case, and with a title, or sub-heading, indicate that the attorney achieved a result of "X Million Dollars." This way the lawyer saves the $400, and doesn't need to hang an expensive certificate that has nothing to do with any official legal organization or bar association.