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Securities Class Action Settlements Reach Record Level

Publication Date: 
March 30, 2007
Source: 
New York Law Journal
Author: 
Beth Bar

The dollar amounts in securities class action settlements have reached record levels in 2006. But according to observers those amounts are most likely going to drop. The following quotes from the article give Professor Grundfest's opinion:

In a statement accompanying the latest report, Stanford Law School professor Joseph Grundfest said the 2006 record is a peak and predicted that 2007 is virtually certain to generate a far smaller aggregate settlement amount.

"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," he said.

Grundfest is also director of the Cornerstone-sponsored Securities Class Action Clearinghouse.