Class Action Settlements

The parties in the SCOR Holding (Switzerland) AG class action securities litigation seem to have devised a “global” settlement strategy to resolve the problems arising from the cross-border distribution of would-be class members.

First, some background. The lawsuit relates to alleged misrepresentations and omissions purportedly made by SCOR Holding’s predecessor in interest, Converium. Converium was domiciled

On May 30, 2006, American Tower Corporation became the fourth company to be named in a securities class action lawsuit connected with the options backdating probe. (As noted in this prior post on The D & O Diary, the three companies previously named in securities class action lawsuits related to options backdating are Vitesse

Each of the various published studies of the 2005 securities class actions has its own average settlement amount for 2005 securities class action settlements. The Cornerstone study reported an average 2005 securities class action settlement of $28.5 million, not including the WorldCom settlement. The NERA study reported an average settlement of $24 million, not including