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Securities trading agreements hover: Cornerstone



Embedded by five "mega" deals, total dollar-class dealings settled $ 5.06 billion in 2018 compared to $ 1.5 billion in 2017, Cornerstone Research Inc. said in a report issued Tuesday.

The report from the San Francisco-based Cornerstone said, compared to 2017, historically low levels, in 2018, the average settlement is more than tripled to $ 64.9 million from $ 18.7 million, while median settlement has more than doubled to 11.3 million. dollars from $ 5.1 million.

Contributing to the increase in median and average settlement was that the number of settlements under $ 5 million decreased by almost 40%, from 40 cases in 2017 to 25 in 2018, according to the Securities Class Action Settlements report.

Among other trends, more than 1

4% of common cases involved an accompanying criminal act, which was the highest proportion over the past 10 years. Cases associated with a criminal act generally resolve for higher amounts according to the report.

The investigation also found that the defendant companies were decisively 50% larger than in 2017 and more than 20% larger than in the previous five years.

In addition, the share of settlements with divested and bankrupt companies was the lowest in the last decade, the report says. "Overall, this suggests that economic factors played an important role in the increase in settlement size in 2018," the report says.

                    


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