2023 delivered a banner year for investor recoveries. The $7.9 billion in settlement proceeds across the globe was the highest total in the past five years. Recorded settlement funds in 2023 surpassed last year’s robust year by approximately $600 million.

In the U.S. alone, $5.8 billion was secured in securities-related class action settlements for eligible class members in 2023, up 18% from 2022. ISS Securities Class Action Services (“ISS SCAS”) verified 127 approved monetary securities-related class action settlements in the United States in 2023. While the number of approved settlements decreased by 10% from last year, the average value of the settlement increased significantly to $45.4 million or by 18%.

The record year was driven in part by thirteen mega settlements (equal to or greater than $100 million), which amounted to more than $4.4 billion for investors. For the first time since 2020, four settlements in the calendar year delivered significant enough value to be included within this Top 100 publication of the largest U.S. settlements of all-time. These four settlements in the aggregate amounted to $3.4 billion in shareholder recoveries or over 59% of the total value from all U.S. class action settlements in 2023.