The cost of settling class actions against directors and officers hit an unprecedented level last year even as insurance prices for the group continued on a downward trend, experts said.
A report issued by Cornerstone Research said the total value of cases settled during 2005 grew to an all-time high of $3.5 billion, surpassing last year's figure of $2.9 billion by more than 17 percent.
And that figure excludes the more than $13 billion in settlements reached with Enron and WorldCom last year following their record bankruptcies.
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