Jump In Securities Class Action Settlements
Cornerstone Research has reported that a total of $3 billion worth of securities class-action settlements occurred in 2015, involving 80 cases – a 184 percent increase over the previous year.
Last year there were eight “mega settlements” – cases with a value at $100 million or more – compared with only one in 2014. In 2015, there were more cases featuring very high estimated damages. Average estimated damages rose 151 percent from 2014. The average settlement increased in size from $17 million in 2014 to $37.9 million in 2015.
The proportion of securities class action settlements involving financial sector firms was lower in 2014 and 2015 than in previous years. However, the cases continue to be the leaders when measured by estimated damages. In 2015, 55 percent of financial sector cases had estimated damages greater than $1 billion.
The team of investment fraud lawyers at Starr Austen & Miller LLP are experienced in securities fraud class actions and fight for the protection of investors, handling cases involving securities arbitration misrepresentation, overconcentration, broker fraud, negligence and breach of trust.