2016 Marks A Record Year For Securities Class Actions

The year 2016 was the biggest yet for U.S. securities class action settlements. On June 14, 2017, Securities Class Action Services, a division of Institutional Shareholder Services, Inc., released its updated list of the top 100 securities class action settlements of all time. The revised list featured 13 settlements in 2016 totaling over $5.6 billion. This, according to the report, was enough to make 2016 the biggest year ever in terms of total approved settlement funds.

Of the 13 settlements added in 2016, two landed in the top 11 on the all-time list. Both involved total amounts of over $1 billion. Household International, Inc. ranked number seven at $1,575,000,000, while Merck & Co., Inc. was number 11 at $1,060,000,000. The highest-ever settlement amount remains $7,242,000,000, which was reached in connection with the Enron Corp. securities litigation around 2010. There is a four-way tie for number 100 at $150,000,000.