Two of 50 Largest Class Action Settlements Since 1995 Approved This Year, Securities Class Action Services Reports
September 2016
RecoverMax Monitor
An overview of securities class action settlements, opt-in litigations and disbursements alongside illustrative indices covering both new cases and historical settlements.
ROCKVILLE, Md. (September 22, 2016) – The first half of 2016 saw two of the 50 largest approved class action settlements since passage of the Private Securities Litigation Reform Act of 1995, according to a new report released today by Securities Class Action Services, a subsidiary of Institutional Shareholder Services. The “Top 100 Class Action Settlements Semi-Annual Report” also noted that 7 settlements from the first half of 2016 made the top 100 list, including two partial settlements. Below is a list of those 7 class action settlements for 2015, ranked by the total value of the settlement fund with recovery amount denoted parenthetically.
- Merck & Co., Inc. ($1,060,000,000)
- General Motors Company ($300,000,000)
- GS Mortgage Securities Corp. ($272,000,000)
- Bernard L. Madoff Investment Securities LLC ($230,250,000)
- Washington Mutual, Inc. ($216,750,000)
- HCA Holdings, Inc. ($215,000,000)
- JPMorgan Chase & Co. ($150,000,000)
Among the top 100 class actions tracked by Securities Class Action Services, the first half of 2016 had over $3.1 billion in approved settlements, in comparison to $1.8 billion in the second half of 2016.
“As expected, the first half of 2016 was another period of significant settlement monies available to claimants,” said Andy Cottrell, Head of Class Action Client Service. “While there have been significant settlements in the second half of 2016, we are more focused on the Opt-In Settlements that have or will occur in Australia during 2016.”
The Top 100 Class Action Settlements Semi-Annual Report identifies the largest securities class action settlements approved since the passage of the Private Securities Litigation Reform Act of 1995, ranked by total value of the settlement fund. Charts and graphs break down the settlement data in areas such as identity of institutional lead plaintiff, institutional lead plaintiff participation, most frequent lead counsel, lead counsel participation, most frequent claims administrator, claims administrator participation, restatements, the number of settlements that were added to Securities Class Action Services’ top 30 SEC disgorgements, and the top 30 SEC disgorgements.
