Shareholder class action settlements in the first half of 2022 remain on track to match 2021’s numbers, with more than $2.32 billion in recovery from over 73 shareholder class actions resolved in the first six months of the year.
The most popular venues for shareholder class settlements in 2022 continue to be federal district courts in California, New York, New Jersey, and Delaware.
The largest of the settled matters so far in 2022 was the Teva securities litigation, which settled for $420 million. The case, dating all the way back to 2016, was presided over by Connecticut federal Judge Stefan Underhill, who granted final approval to the massive settlement in early June. Of the 73 securities cases settled so far in 2022, the average length of the litigation was 3.58 years.
With the increasing volatility of the markets so far in 2022, it is expected that securities class actions will tick up through the year as investors take a closer look at stock performance and related economic metrics. We will continue to monitor these developments and update these bulletins as 2022 progresses.
The select mediators and arbitrators at UWWM’s Center for National Class & Mass Actions have decades of specific experience in class and mass actions and are uniquely qualified to assist you in resolving these legal disputes. For further information and scheduling, please visit our website.