What Drove the 75% Jump in Global Settlements in Investor Lawsuits in 2022? And Will the Wave of Mega-Settlements Continue?
According to ISS Securities Class Action Services, 10 securities-related class actions settled for between $100 million and $1 billion in the U.S. last year. That more than doubled the number from 2021.
January 10, 2023 at 07:30 AM
4 minute read
The tally of settlements in investor lawsuits topped $7.4 billion worldwide last year, an increase of more than 75% year-over-year.
That's according to the folks at ISS Securities Class Action Services, who help institutional investors track and manage claims in litigation. Jeff Lubitz, the managing director of ISS SCAS, and his team are still a week or two away from putting out their annual "Top 100" report providing a deep-dive on 2022 settlement activity in the United States and inserting new entrants into the top 100 U.S. settlements of all-time. But last week they published an overview of the top-10 largest shareholder settlements finalized last year in the U.S., as well as a handful of international settlements and deals in investor-related antitrust suits that contributed to the jump in the overall jump in settlement value. Yesterday the Litigation Daily caught up with Lubitz to discuss the securities-related settlement landscape, especially when it comes to large settlements.
What stood out about last year's crop?
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