Number of US securities class action settlements drops
There were just 49 securities class action settlements in the US in the first six months of this year, leading to a projected full-year total of 98. This is a significant drop from the 123 settlements in 2011 and 128 settlements in 2010. comments powered by Disqus
The figures come from a study by NERA Economic Consulting, which points out that the number of securities class action suits recover money through settlements has not been this low since 1999.
The average amount awarded per settlement, however, is way up: this year’s average monetary settlement was $71 million, way up from an average of $31 million last year. NERA points out that the figures have been distorted by a single $1.01 billion settlement.