Duane Morris Class Action Review - 2023 - Report - Page 418
Top Securities Fraud Class Action Settlements In 2022
The plaintiffs’ class action bar successfully converted class certification rulings into
class-wide settlement at a brisk pace. The top ten securities fraud class-wide
settlements totaled $3.25 billion in the past year.
1. $1 billion – In Re Dell Technologies Inc. Class V Stockholders Litigation,
Csse No. 2018-0816 (Del. Chan. Ct. Nov. 16, 2022) (settlement reached in a
class action alleging claims that the defendants breached their fiduciary duties to
the former holders of Dell Class V tracking stock).
2. $809.5 million – In Re Twitter Inc. Securities Litigation, Case No. 16-CV-531
(N.D. Cal. Nov. 17, 2022) (final settlement approval granted in a class action
alleging claims that Twitter artificially inflated its stock price by misleading
investors about user engagement).
3. $420 million – In Re Teva Securities Litigation, Case No. 17-CV-558 (D. Ct.
June 2, 2022) (final settlement approval granted in a class action alleging claims
by investors over an alleged conspiracy to fix generic-drug prices).
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© Duane Morris LLP 2023
Duane Morris Class Action Review – 2023
