Securities Class Action Settlements "Substantially Higher" in 2016 Than Previous Years
Harvard Law School’s Forum on Corporate Governance and Financial Regulation found that “the number of [securities class action] settlements approved in 2016 increased by 85, which is substantially higher than the levels in previous years.”
Additionally, there were ten “mega settlements” in 2016 – the highest number over the last 10 years—that contributed to an almost twofold increase in the average settlement amount from 2015 to 2016. Two of the mega settlements exceeded $1 billion.
The report found that “the record number of case filings in 2016, coupled with four consecutive year-over-year increases, may continue to fuel growth in the number of [securities class action] settlements in the coming years.”