Battea – Class Action Services, LLC, the industry’s leading provider of securities class action recovery services for institutional investors, reported quarterly securities class action settlement fund payouts for first quarter 2013 and fourth quarter 2012.
During the first quarter of 2013, there were primary distributions in 27 cases, representing total settlement funds of approximately $678 million. The average settlement fund size was approximately $25 million, with the largest settlement exceeding $205 million. A total of six settlements were disbursed in January, ten settlements in February and 11 settlements in March.
The table below lists the five largest securities class action settlements that distributed in the first quarter of 2013:
|1/16/2013||CENTRO PROPERTIES GROUP||CNP AU||205,120,000|
|3/4/2013||MF GLOBAL, LTD.||MF||90,000,000|
|3/29/2013||MFS MASSACHUSETTS FINANCIAL SERVICES COMPANY - MUTUAL FUNDS||MFS FUNDS||75,042,250|
|3/14/2013||ALLIANCEBERNSTEIN MUTUAL FUNDS||AB FUNDS||74,586,650|
|2/28/2013||SIGMA PHARMACEUTICALS, LTD.||SIP AU||59,000,000|
During the fourth quarter of 2012, there were primary distributions in 30 cases, representing total settlement funds of over $1.9 billion. The average settlement fund size was approximately $63 million, with largest settlement exceeding $620 million. A total of six settlements were disbursed in October, ten settlements in November, and 14 settlements in December.
The table below lists the five largest securities class action settlements that were distributed in the fourth quarter of 2012:
|12/26/2012||COUNTRYWIDE FINANCIAL CORP||CFC||624,000,000|
|11/30/2012||IPO SECURITIES LITIGATION||Multiple Tickers||586,000,000|
|11/5/2012||MORGAN KEEGAN STATES FUND||RHIIX||100,000,000|
|10/10/2012||DEL MONTE FOODS CO.||DLM||89,400,000|
|11/13/2012||CREDIT SUISSE GROUP||CS||70,000,000|