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Post-Reform Act Class Action Settlements Of Securities Lawsuits, 2018-2023 (1)
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(2023 dollars)

Settlements 2018-2022 2022 2023
Minimum $0.4 million $0.7 million $0.8 million
Median 11.7 million 13.5 million 15.0 million
Average 46.5 million 37.9 million 47.3 million
Maximum 3.6 billion 842.9 million 1.0 billion
Total settlements $19.5 billion $4.0 billion $3.9 billion
Number of settlements 420 105 83

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation by Cornerstone Research.

Source: Cornerstone Research, Securities Class Action Settlements--2023 Review and Analysis©2024 by Cornerstone Research, Inc.

 

Archived Tables

POST-REFORM ACT SETTLEMENTS OF SECURITIES LAWSUITS, 1996-2008 (1)
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  1996-2007 2008
Minimum $0.1 million $0.4 million
Median 7.4 million 8.0 million
Average 57.7 million 31.2 million
Maximum 7.7 billion 0.8 billion
Total settlements $53.6 billion $3.1 billion

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation.

Source: Cornerstone Research.
 
POST-REFORM ACT SETTLEMENTS OF SECURITIES LAWSUITS, 1996-2009 (1)
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  1996-2008 2009
Minimum $0.1 million $0.4 million
Median 7.4 million 8.0 million
Average 55.4 million 37.2 million
Maximum 7.7 billion 925.5 million
Total settlements $56.7 billion $3.8 billion

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation.

Source: Cornerstone Research.

 
POST-REFORM ACT SETTLEMENTS OF SECURITIES LAWSUITS, 1996-2010 (1)
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  1996-2009 2010
Minimum $0.1 million $0.5 million
Median 7.6 million 11.3 million
Average 54.8 million 36.3 million
Maximum 7.8 billion 624.0 million
Total settlements $61.6 billion $3.1 billion

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation.

Source: Cornerstone Research.

 
POST-REFORM ACT SETTLEMENTS OF SECURITIES LAWSUITS, 1996-2011 (1)
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  1996-2010 2011
Minimum $0.1 million $0.6 million
Median 8.1 million 5.8 million
Average 55.2 million 21.0 million
Maximum 8.1 billion 208.5 million
Total settlements $66.7 billion $1.4 billion

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation.

Source: Cornerstone Research.

 
POST-REFORM ACT SETTLEMENTS OF SECURITIES LAWSUITS, 1996-2013 (1)
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(2013 dollars)

  1996-2012 2013
Minimum $0.1 million $0.7 million
Median 8.3 million 6.5 million
Average 55.5 million 71.3 million
Maximum 8.4 billion 2.4 billion
Total settlements $73.7 billion $4.8 billion

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation by Cornerstone Research.

Source: Cornerstone Research.

 
Post-Reform Act Settlements Of Securities Lawsuits, 1996-2014 (1)
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(2014 dollars)

  1996-2013 2014
Minimum $0.1 million $0.3 million
Median 8.3 million 6.0 million
Average 57.2 million 17.0 million
Maximum 8.5 billion 265.0 million
Total settlements $79.8 billion $1.1 billion

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation by Cornerstone Research.

Source: Cornerstone Research, Securities Class Action Settlements—2014 Review and Analysis © 2015 by Cornerstone Research, Inc. All Rights Reserved. www.cornerstone.com.

 
Post-Reform Act Class-Action Settlements Of Securities Lawsuits, 1996-2015 (1)
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(2015 dollars)

Settlements 1996-2013 2014 2015
Minimum $0.1 million $0.3 million $0.4 million
Median 8.2 million 6.0 million 6.1 million
Average 55.6 million 17.0 million 37.9 million
Maximum 8.5 billion 265.3 million 970.5 million
Total settlements $80.9 billion $1.1 billion $3.0 billion
Number of settlements 1,457 63 80

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation by Cornerstone Research.

Source: Cornerstone Research.

 
Post-Reform Act Class Action Settlements Of Securities Lawsuits, 1996-2016 (1)
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(2016 dollars)

  1996-2015 2015 2016
Minimum $0.1 million $0.4 million $0.9 million
Median 8.3 million 6.1 million 8.6 million
Average 55.5 million 38.4 million 70.5 million
Maximum 8.6 billion 982.8 million 1.6 billion
Total settlements $85.3 billion $3.1 billion $6.0 billion
Number of settlements 1,536 80 85

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation by Cornerstone Research.

Source: Cornerstone Research, Securities Class Action Settlements--2016 Review and Analysis© 2017 by Cornerstone Research, Inc.

 
Post-Reform Act Class Action Settlements Of Securities Lawsuits, 1996-2017 (1)
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(2017 dollars)

Settlements 1996-2016 2016 2017
Minimum $0.1 million $0.9 million $0.5 million
Median 8.5 million 8.7 million 5.0 million
Average 57.7 million 72.0 million 18.2 million
Maximum 8.8 billion 1.6 billion 210 million
Total settlements $93.2 billion $6.1 billion $1.5 billion
Number of settlements 1,616 85 81

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation by Cornerstone Research.

Source: Cornerstone Research, Securities Class Action Settlements—2017 Review and Analysis© 2018 by Cornerstone Research, Inc.

 
Post-Reform Act Class-Action Settlements Of Securities Lawsuits, 1997-2018 (1)
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(2018 dollars)

Settlements 1996-2017 2017 2018
Minimum $0.2 million $0.5 million $0.4 million
Median 8.6 million 5.1 million 11.3 million
Average 57.1 million 18.7 million 64.9 million
Maximum 9.0 billion 215.1 million 3.0 billion
Total settlements $97.0 billion $1.5 billion $5.1 billion
Number of settlements 1,697 81 78

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation by Cornerstone Research.

Source: Cornerstone Research, Securities Class Action Settlements—2018 Review and Analysis. © 2019 by Cornerstone Research, Inc.

 
Post-Reform Act Class Action Settlements Of Securities Lawsuits, 1996-2019 (1)
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(2019 dollars)

Settlements 1996-2018 2018 2019
Minimum $0.2 million $0.4 million $0.5 million
Median 8.8 million 11.5 million 11.5 million
Average 58.6 million 66.1 million 27.4 million
Maximum 9.2 billion 3.0 billion 390 million
Total settlements $104.0 billion $5.2 billion $2.0 billion
Number of settlements 1,775 78 74

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation by Cornerstone Research.

Source: Cornerstone Research, Securities Class Action Settlements--2019 Review and Analysis ©2020 by Cornerstone Research, Inc.

 
Post-Reform Act Class Action Settlements Of Securities Lawsuits, 1996-2020 (1)
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(2020 dollars)

Settlements 1996-2019 2019 2020
Minimum $0.2 million $0.5 million $0.3 million
Median 9.0 million 11.6 million 10.1 million
Average 58.1 million 27.8 million 54.5 million
Maximum 9.3 billion 394.4 million 1.2 billion
Total settlements $107.3 billion $2.1 billion $4.2 billion
Number of settlements 1,848 74 77

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation by Cornerstone Research.

Source: Cornerstone Research, Securities Class Action Settlements--2020 Review and Analysis ©2021 by Cornerstone Research, Inc.

 
Post-Reform Act Class Action Settlements Of Securities Lawsuits, 2016-2021 (1)
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(2021 dollars)

Settlements 2016-2020 2020 2021
Minimum $0.3 million $0.3 million $0.6 million
Median 9.9 million 10.6 million 8.3 million
Average 51.9 million 57.1 million 20.5 million
Maximum 3.2 billion 1.3 billion 187.5 million
Total settlements $20.5 billion $4.4 billion $1.8 billion
Number of settlements 395 77 87

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation by Cornerstone Research.

Source: Cornerstone Research, Securities Class Action Settlements--2021 Review and Analysis©2022 by Cornerstone Research, Inc.

 
Post-Reform Act Class Action Settlements Of Securities Lawsuits, 2017-2022 (1)
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(2022 dollars)

Settlements 2017-2021 2021 2022
Minimum $0.3 million $0.7 million $0.7 million
Median 10.2 million 8.9 million 13.0 million
Average 42.3 million 22.2 million 36.2 million
Maximum 3.5 billion 202.5 million 809.5 million
Total settlements $16.7 billion $1.9 billion $3.8 billion
Number of settlements 395 87 105

(1) Private Securities Litigation Reform Act of 1995; adjusted for inflation by Cornerstone Research.

Source: Cornerstone Research, Securities Class Action Settlements--2022 Review and Analysis©2023 by Cornerstone Research, Inc.