Corporations paid $5 billion to settle shareholder class actions last year, a sum more than triple that of 2017, and more of them are resolving for larger amounts, according to a report by Cornerstone Research.

The annual report found that there were 78 securities class action settlements in 2018, three fewer than in 2017, but five surpassed $100 million, including the $3 billion deal with Brazilian energy giant Petrobras. More significantly, the average settlement tripled to $64.9 million, when compared to 2017, exceeding the average over the past nine years and reflecting a trend toward larger settlements overall. In fact, the report found that 32 cases settled between $10 million and $49 million in 2018.

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