According to the latest annual report from ISS Securities Class Action Services, there were two securities class action settlements in 2022 that were large enough to make the firm’s list of the Top 100 U.S. Securities Class Action settlements. These two settlements took place in a year in which there were a total of 141 approved monetary securities class action settlements totaling $4.77 billion. The details of the settlements included the two largest during 2022 can be found in the ISS Securities Class Action Services report entitled “The Top 100 U.S. Class Action Settlements of All-Time,” here.
Largely due to the decline in the numbers of merger objection class action lawsuit filings and a decline in the number of Rule 10b-5 filings, the number of new federal court securities class action lawsuit filings declined in 2022 for the fourth consecutive year, according to the latest annual report from NERA Economic Consulting. The report, entitled “Recent Trends in Securities Class Action Litigation: 2022 Full-Year Review” also shows that aggregate, average, and median securities class action lawsuit settlements increased in 2022 relative to 2021. NERA’s January 24, 2023, press release about the report, with a link to the full report, can be found here.…
Computer technology company Dell Technologies, Inc. recently announced that it had entered a $1 billion settlement in shareholder litigation relating to the company’s disputed 2018 stock swap transaction. In the following guest post Jeff Lubitz, Managing Director, ISS Securities Class Action Services, and Jarett Sena, Director of Litigation Analysis, ISS Securities Class Action Services, take a closer look at the Dell settlement and also put the massive settlement into context with other shareholder lawsuit settlements. A version of this article previously was published as an ISS Securities Class Action Services client alert. I would like to thank Jeff and Jarett for allowing me to publish their article as a guest post on this site. I welcome guest post submissions from responsible authors on topics of interest to this blog’s readers. Please contact me directly if you would like to submit a guest post. Here is the authors’ article.…
Continue Reading Guest Post: Dell Agrees to $1 Billion Shareholder Suit Settlement
In its latest annual report, ISS Securities Class Action Services reports that in 2021 the Robbins Geller law firm, for the second year in a row, secured the highest dollar value in securities class action lawsuit settlements during the year and also was involved in the highest number of separate settlements. The report, which includes both U.S. and Canadian settlements, ranks the top 50 plaintiffs law firms by total dollar value recoveries and the Top Ten plaintiffs law firms ranked by number of settlements achieved. The March 4, 2022 ISS SCAS report, which is entitled “The Top 50 of 2021” and was co-authored by ISS SCAS’s Jeff Lubitz and Lloyd Flores, can be found here.
Continue Reading ISS SCAS Report Ranks Top 50 Plaintiff’s Securities Law Firms by 2021 Settlement Values
There are a lot of different ways you might look at securities class action litigation settlement data. You might, for example, look at average or median settlement amounts. You might look at the data in the aggregate. Or you could look at it geographically – say, according to the U.S. state in which the case was pending. That is exactly what ISS Securities Class action Services has done. In its latest report, entitled “The Largest U.S. Settlements By State,” the authors identify the largest settlement by U.S. state. The report is interesting and does answer a question that does come up from time to time. A copy of the report can be found here.
Continue Reading Looking at the Largest Securities Suit Settlements by State