Banking
Apr. 5, 2008
Number of Settlements Rises, Value Declines
Cornerstone Research is reporting the number of securities class actions settled last year rose 21 percent, from 92 to 111 in 2006. The total value of those settlements plummeted 60 percent from the all-time high of $17.2 billion to $7 billion during the same year.
Daily Journal Staff Writer
This article appears on Page 2
A sharp rise in the number of securities class-action settlements in 2007 was offset by an even more dramatic decline in the overall value of those settlements.
The numbers indicate that the largest cases filed in the wake of the economic downturn five years ago have worked their way throug...
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