In the News Today - February 12, 2018

February 12, 2018

“The Anthem Class-Action Con”: The Wall Street Journal Editorial Board said the plaintiffs’ lawyers in the Anthem data breach class action should be “shamed” for “trying to con class-action victims.” Since so many lawyers worked on the case, less than half of the $115 million settlement would go to victims, with an average of $0.65 per victim. (Wall Street Journal) 

NY Judge Rejects 'Utterly Useless' Deal In Merger Lawsuit: A New York judge last week tossed a securities lawsuit that would have provided “utterly worthless” remedies to shareholders. The judge said it “is not a close call” and that the proposed settlement is “peppercorn and a fee.” (Law360

The Sum of All Securities Litigation Filing Trends: Last Thursday, “five securities class action lawsuit were filed.” D&O Diary’s Kevin LaCroix that day last week “managed to neatly encapsulate all of the important current securities litigation filing trends” in which the “torrid filing pace that we saw in 2017 has continued so far in 2018.” (D&O Diary)