Looking back at the full year of 2021, ISS Securities Class Action Services (“ISS SCAS”) verified 116 approved monetary class action settlements in the United States. These cases amounted to $3.51 billion of settlement funds available for distribution to eligible members of the settlement classes.
In both Federal and State courts – the quantity of traditional class action settlements increased by 17.2 percent from 99 in 2020, while the settlement amounts increased by 7.6 percent from $3.26 billion in 2020.
Of the 116 U.S. settlements in 2021, 91 cases received judgment in the Federal Courts amounting to $3.06 billion, while 25 cases received judgment in the State Courts amounting to $453.1 million. The timing of settlements had ebbs and flows, as the first and third quarters of 2021 had 23 and 26 settlements, respectively, while the second and fourth quarters of 2021 had 34 and 33 settlements, respectively.
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