2021 was another big year for securities class action settlements in the U.S., according to a new report out this morning from ISS Securities Class Action Services.

Last year in the U.S, according to ISS SCAS data, courts gave final sign-off to securities class action settlements tallying $3.51 billion in payouts to shareholders, a 7.6% increase over the prior year. The total number of settlements in state and federal courts was up 17.2% from 99 in 2020 to 116 last year. Only two mega settlements from the year, however, landed on the top 100 list ISS SCAS tracks of the largest settlements reached since the passage of the Private Securities Litigation Reform Act of 1995.