Securities class action lawsuits increased in 2013
Wednesday, January 22, 2014 2:36 PM
The number of securities class actions filed in federal courts increased approximately 10 percent last year, while the value of settlements set a record, according to a survey released Tuesday, Business Insurance reported. The survey by National Economic Research Associates Inc. found that 234 securities class actions were filed in 2013, compared with 213 in 2012. By comparison, filings have averaged 224 per year from 2008 to 2012. Excluding certain less usual types of settlements, the average settlement reached $55 million, an increase of 53 percent from 2012.