Facts & Figures: 6 sets of newsworthy data
From law firm billing practices to class action settlement rankings, an inside look at the numbers that count
June 01, 2012 at 07:36 AM
5 minute read
The original version of this story was published on Law.com
Uneasy Execs
Executives may have been biting their nails this proxy season, thanks to relatively new say-on-pay- provisions that allow shareholders to cast advisory votes on top executives' pay packages. They needn't have worried.
According to a new executive compensation survey from Skadden, Arps, Slate, Meagher & Flom the vast majority of proposals passed with more than 70 percent support.
70% Say-on-pay proposals that passed with more than 90 percent support
21% Proposals that passed with between 70.1 percent and 90 percent support
7% Proposals that passed with between 50 percent and 70 percent support
2% Proposals that got less than 50 percent support
Soaring Settlements
Even though class action settlements are down industry wide, some law firms still managed to rake in impressive profits last year, according to a new report from Institutional Shareholders Services Inc.
This seeming paradox is explained by the “increased concentration” of plaintiffs firms: The top securities class action firms—Bernstein Litowitz Berger & Grossman, Robbins Geller Rudman & Dowd and Labaton Sucharow—accounted for more than half of all securities class action settlements last year.
13 Total number of cases that Bernstein Litowitz settled as lead or co-lead counsel in 2011
$1.37 billion Total earnings for the firm's investors from those cases, an increase of 37 percent from 2010
$300 million Attorneys' fees and expenses resulting from those cases
$1.4 billion Total securities class action settlement funds in 2011—the lowest in 10 years—according to Cornerstone Research
More Mergers
Companies continue to predict that 2012 will be a big year for mergers, but smaller deals and strategic alliance transactions are even more popular, according to a new report from Deloitte. The professional services firm notes that businesses are less enthused about divestitures, leading them to miss out on valuable deals.
The report also noted the following statistics:
20% Companies that are actively pursuing major transactions, according to CFOs
46% Respondents who expect an increase in M&A activity
54% Respondents who expect an uptick in strategic alliance transactions over the next two years
40% Companies that regularly review their portfolios for divestiture opportunities
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