Class Action Settlements Past Their Peak
The decline of securities class actions is seen in the lower number of filings rather than the size of the settlements. Professor Grundfest is quoted:
"With the largest part of the WorldCom and Enron settlements now wrapped up, and with fewer huge pieces of litigation in the pipeline waiting to be resolved, aggregate settlement amounts have only one way to move, and that's down," asserted Prof. Joseph Grundfest of Stanford Law School. Grundfest is also director of the Securities Class Action Clearinghouse, a joint project of Stanford and Cornerstone Research.