Building on the industry’s most comprehensive databases on securities class action litigation, ISS Securities Class Action Services Top 100 Settlements Semi-Annual Report for 2H 2012 identifies the largest securities class action settlements filed after the passage of the Private Securities Litigation Reform Act of 1995, ranked by the total value of the settlement fund. The report provides the settlement date, filing court, settlement fund, and identifies the key players for each settlement.

These days, more than 1,700 clients rely on ISS to help them make informed corporate governance decisions.  ISS is a known provider of proxy advisory and corporate governance solutions to financial market participants. Its services include objective proxy research and analysis, end-to-end proxy voting and distribution solutions, turnkey securities class-action claims management, and reliable governance data and modeling tools.

Here are all 12 securities class action settlements for 2013, ranked by the total value of the settlement fund:

  • Bank of America Corporation – $2,425,000,000
  • American International Group, Inc. – $1,009,500,000
  • Citigroup Bonds – $730,000,000
  • Lehman Brothers Holdings, Inc. – $636,218,000
  • Citigroup, Inc. – $590,000,000
  • Countrywide Financial Corp. – $500,000,000
  • Adelphia Communications Corp. – $478,725,000
  • Schering-Plough Corp. – $473,000,000
  • Bernard L. Madoff Investment Securities LLC – $219,857,694
  • Merck & Co., Inc. – $215,000,000
  • Pharmacia Corp. – $164,000,000
  • Federal National Mortgage Association – $153,000,000

“Last year ranked as an active one for securities class-action settlements, with 12 making our Top 100 settlements list. This ties 2009 and 2006, which both saw 12 settlements added to the Top 100, as the biggest year for additions to the list since the passage of the Private Securities Litigation Reform Act of 1995,” said J. Scott Berniker, executive director and head of Securities Class Action Services at ISS, in a statement.

This year’s data was broken down using charts and graphs of settlements represented by institutional lead plaintiff, institutional lead plaintiff participation, most frequent lead counsel, lead counsel participation, most frequent claims administrator, claims administrator participation, restatements, the number of settlements that were added to Securities Class Action Services’ top 30 SEC disgorgements, and the top 30 SEC disgorgements.

For the full report, click here.


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