March 13, 2009

Cornerstone Releases Report On Settlements

Cornerstone Research has released its annual report on securities class action settlements. The notable findings include:

(1) There were 99 settlements in 2008. The aggregate value of those settlements was $3.1 billion.

(2) The median amount for cases settled in 2008 was $8 million (down from the all-time high of $9 million in 2007). The average settlement amount was $31.2 million - which is in line with the historic average if the top four settlements of all time are removed from the analysis.

(3) Reversing a recent upward trend, the number of settled cases involving companion derivative suits fell from 55% in 2007 to 40% in 2008.

The press release accompanying the report can be found here.

Posted by Lyle Roberts at March 13, 2009 10:41 PM | TrackBack
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