Securities class action litigation has been lucrative for plaintiffs attorneys in the years following the financial crisis—but 2014 may signal the end of the big paydays.
A recently released report by consulting firm Cornerstone Research shows that in 2014 total settlement dollars paid out in these cases reached a 16-year low. “It’s been a very unusual year,” says Laura Simmons, a senior adviser at Cornerstone and one of the report’s authors. According to the report, total payouts in securities class action settlements in 2014 declined 78 percent compared with 2013. This was 80 percent lower than the average for the nine years leading up to 2014.
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