The number of class-action plaintiffs opting out of settlements to pursue their own litigation has risen in recent years, according to a report issued Wednesday by Cornerstone Research. Pension funds, which previously appeared in almost half of the pre-2014 class-action cases, appeared in just four class-action cases between 2014 and 2018 in which parties were able to be identified, according …
The number of securities class action settlements approved by U.S. courts in 2016 was 85, the highest level since 2010, according to a report issued Wednesday by Boston-based Cornerstone Research. Total settlement dollars approved in 2016 was $5.99 billion, or almost double 2015’s $3.07 billion, according to the report, “Securities Class Action Settlements – 2016 Review and Analysis.” A total …
U.S. courts approved more securities class-action settlements in 2016 than in any year since 2010, according to a report from Cornerstone Research. The 85 settlements reached last year were just five more than the previous year. However, the aggregate dollar amount in the cases, just under $6 billion, was nearly double the 2015 total and the second-most in the past decade.
A Manhattan New York state appeals court on Thursday said the class action settlements should be assessed in approving a class action settlement involving a challenge by shareholders to Verizon Communications Inc’s ( VZ )$130 billion acquisition of Vodafone Group Plc’s (VOD.L)subsidiaries. The Appellate Division, First Department, decision said that shareholders and Verizon were …
The last time the U.S. Supreme Court ruled on a challenge to an approved class action settlement, AOL ruled the Internet, Bill Clinton was president and Donald Trump was months away from considering a run for the presidency in an October 1999 interview with Larry King. It was a long time ago, in other words. The National Football League and plaintiffs’ lawyers representing a …
The legal team behind the class action lawsuit against defunct digital currency exchange Cryptsy has launched a new site in a bid to locate potential claimants. The site, CryptsySettlement.com, details the process by which affected customers of the exchange can submit a claim or to request an exclusion â an option potentially preferred by those hoping to launch their own litigation related …
A federal judge has ordered that attorneys representing private individuals and companies who entered into economic and medical claims settlements with BP stemming from the Deepwater Horizon disaster are entitled to be paid $555.2 million to cover their legal fees and remaining court costs. The award equals about 4.3 percent of the estimated $13 billion that BP is expected to pay under the …
GM settled the final two of six bellwether cases designed to set the pattern for future settlements related to the maker’s faulty ignition switches. General Motors Co. agreed to settlements in the final two ignition-switch cases slated for trial in a New York federal court this year. Terms of the settlements were not disclosed.
In a 2-1 decision, the Seventh Circuit has joined the Delaware Court of Chancery’s call for enhanced scrutiny of “disclosure-only” M&A settlements that involve no monetary benefits to shareholders. As previously discussed here, M&A litigation, typically alleging breach of fiduciary duty by directors and insufficient disclosures, often ends in settlement, with defendants agreeing to provide …
Michigan pays $378 million in lawsuit judgments, settlements over decadeMichigan paid more than $41 million, while receiving more than $278 million in lawsuit settlement and judgment payments over a year, a new report by the Senate Fiscal Agency shows. Here are seven things about lawsuit payments and settlements made and received by the state, according to the annual Senate Fiscal Agency’s …