Although securities class-action filings fell 38 percent in 2006, the costs of settling such actions soared to new heights, according to a recent report.
The total value of settled cases in 2006–excluding settlements totaling $7.1 billion relating to the Enron collapse–grew to $10.6 billion, more than 300 percent above the 2005 level of $3.5 billion, according to Washington-based Cornerstone Research.
Back in January, Cornerstone reported that securities fraud class-action filings dipped to 110 last year–down from 178 filings in 2005–and nearly 43 percent lower than the 10-year historical average of 193.
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