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Increased complexity makes asset recovery significantly more challenging.
Our Global Class Action report provides an analysis of the top cases and trends of the industry in 2023.
Speaker 1 : Nine class actions were filed in the wake of the 2023 banking crisis. Dig deeper and you'll see how cryptocurrency played an outsized role. These trends and more are examined in our 2023 Global Class Action Annual Report, an in-depth look at the year's most complex cases. Inside, we identify several key trends for 2024. First, shareholder activism via securities litigation continues at full steam, mirroring the increased focus on ESG investing by the market at large. Second, cybersecurity related class actions are on the rise. A growing concern for issuers as they attempt to navigate new disclosure requirements in the United States and abroad. Third and related new regulations are on the horizon that could expose insurers to new claims, particularly with regard to ESG related disclosures. Lastly, although Spac related securities litigation led federal court dockets in the United States in 2023, the substantial decline in both Spac offerings and traditional IPOs means we should expect to see fewer cases being filed. This is especially true when considering the truncated statues of Proposed and Limitations for Securities Act claims. Our advocates closely monitor emerging trends and have expertise in the numerous administrative challenges presented in each case. This enables you to recover more. Download a copy of our global Class Actions and report today.
Collective actions are increasing worldwide. But, surge doesn’t come without its challenges – and opportunities.
Speaker 1 : Securities litigation was once a US phenomenon. Now it's going global. A 2023 Class Action annual report highlights new legislation developments for collective actions in Australia, China, Singapore and Europe. Collective redress claims increase worldwide, with more than 100 cases initiated in Europe alone. 30% of these were securities related actions. Each jurisdiction has its own dynamics and challenges. But investors globally are showing an increased interest in opt in litigation, highlighting the importance of being able to handle these types of cases. A securities litigation becomes the global standard. Advocates can help you recover more. Download an annual report today.
In 2023, we saw more $100M+ settlements than ever before. Our Global Class Actions Annual Report looks closer at a select few of the top cases.
Speaker 1 : With respect to class actions, 2023 was a record year with more 100 plus million dollar settlements than any year prior. These cases are discussed in detail in our Global Class Action Annual Report, a must read for institutional investors looking to maximize their recoveries in the months ahead. In this report, our team of advocates provides insights into the trends, new legislation, and administrative challenges that could impact your ability to boost your recoveries all around the world. Mega settlements are on the rise and it pays to know why they are so complex. Download the report today.
Class action cases are more diverse now and growing in complexity. Topics like derivatives, swaps, crytpo, FX, and other financial instruments made a mark in 2023.
Speaker 1 : Class actions are already complex, but now more of them involve complex securities and financial instruments. Our 2023 annual report details how these cases are on the rise, including derivatives, swaps, crypto effects and more. The Broadridge Global Class Action Team evaluates the most complex cases, providing insights into claim eligibility, portfolio monitoring, data requirements, and custom procedures required to maximize recovery. Every type of security or financial instrument presents its own set of unique challenges. Let us be your guide. Download the annual report today.
Contact Us about what’s next for you
Contact UsIn a year with a record-setting number of mega-settlements (over $100 million) and high average settlement value of $44 million, claimants had to clear many more hurdles to collect the funds to which they (or their investors) were entitled.
The reason? Cases are quickly evolving to unprecedented levels of complexity. Our new report details the trends that make securities class action cases more challenging than ever.
In recent years, a complex case typically involved three administrative challenges or less. In 2023, only one case had three challenges. Five cases had four challenges, three had five challenges and one had six.
As many as tens of thousands of CUSIPs and ISINs may be involved in a single case. Much more effort is required to identify all of the affected securities, each of which presents unique challenges. Then, all data must be correctly populated into the proper filing formats.
For example, separate reviews are needed to ensure that any shares exchanged in a merger are correctly categorized. Even corporate actions that occur outside the class period can influence filing of claims.
Portfolio monitoring is significantly more intricate in cases involving complex instruments. It can also be more challenging to determine eligibility to file a claim.
When recovery is sought under both the Securities Act and the Exchange Act, the settlement class is often divided into two sub-classes. This requires preparation of two distinct claims to maximize recovery.
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