Dollar Amount of Class Action Settlements Increased in 2009

Reuters reports that the amount of class action settlements rose in 2009.  The article states:

"The total dollar amount of settlements of U.S. class-action securities lawsuits rose 39 percent in 2009 and could rise further this year as cases stemming from the financial crisis wind on.

There were 103 settlements totaling $3.83 billion last year, up from 97 settlements totaling $2.75 billion in 2008, according to a study released on Wednesday by Stanford Law School and Cornerstone Research."

For more details about the rise in class action settlements as well as discussion about trends and predictions for the future, see here.

~clf