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Cornerstone Research
has developed a database of securities class action settlements for cases filed
after the passage of the Private Securities Litigation Reform Act. This
database includes over 40 variables and provides the foundation for our
research on securities case settlements as highlighted here and at the
Securities Class Action Clearinghouse.
Our current research
analyzes settlements reported through December 2007. A list of the cases
comprising our database of settlements through 2007 is available
here.
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Settlement
Prediction Model
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| Our clients
are often interested in obtaining estimates of expected settlement amounts for
their securities cases. Accordingly, as part of our ongoing research, we have
analyzed the factors affecting the settlement outcomes of Post-Reform Act
lawsuits. We have developed a prediction model to estimate expected settlement
amounts for Post-Reform Act cases, based on significant factors. The model
explains over 60 percent of the variation in settlements amounts and includes
estimated plaintiff-style damages, the nature of the case allegations, the
defendants involved, and characteristics of the defendant firm. Settlement
estimates based on this model are available to Cornerstone Research clients.
For further information, please contact Ellen Ryan at
eryan@cornerstone.com or (617) 927-3027. |
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Current Research
Our most recent report,
Post-Reform Act Securities Settlements, 2006 Review and Analysis,
analyzes post-Reform Act settlements through December 2006. We focus on a
sample of settlements approved in 2006, with comparisons to post-Reform Act
settlements in prior years. This report also analyzes post-Reform Act
settlements to date as a group, including annual trends and data on the size of
settlements both in dollars and as a percentage of estimated plaintiff-style
damages. We analyze settlements by the nature of the allegations involved,
including the presence of accounting allegations, Section 11 and 12(a)(2)
claims, and insider trading allegations, as well as by the presence of third
party defendants. This report includes settlement statistics by court circuit
and several industry sectors. In addition to presenting descriptive statistics,
this report describes the results of our study of the determinants of
settlement outcomes using regression analysis.
Prior Publications
Post-Reform Act Securities Settlements, 2005
Review and Analysis
Post-Reform Act Securities Settlements,
Updated Through December 2004
Post-Reform Act Securities Case Settlements,
Cases Reported Through December 2003
Post-Reform Act Securities Lawsuits:
Settlements Reported through December 2002
Post-Reform Act Securities Settlements, 2002: A
Year In Review
Post-Reform Act Securities Lawsuits: Settlements
Reported through December 2001
Post-Reform Act Securities Settlements,
2001: A Year In Review
Securities Lawsuits: Settlement Statistics
for Post-Reform Act Cases
Securities Lawsuits: Settlement Statistics for
10b-5 cases
Settlement News
Current Settlement News
2006
Settlement News
2005
Settlement News
2004
Settlement News
2003
Settlement News
2002
Settlement News
Statistics
Securities
Fraud "Mega-Settlements"
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