Top 2018 Year-to-Date Settlements & Disbursements

POSTED OCT 22 2018

Institutional investors and public pension funds are benefiting from an active year as it relates to shareholder settlements. This activity is due to a combination of securities class action litigation, both in the U.S. and across the globe, as well as SEC Disgorgements, and a record-breaking year for antitrust cases. In fact, the top 15 settlements of 2018 total a significant $10 billion in shareholder recoveries, which includes five antitrust cases that combine for $3.9 billion being returned to investors.

The below tables detail the top settlements and disbursements from 2018. Included in this list are several notable cases:

  • Petrobras – fifth largest all-time securities class action settlement
  • F/X Benchmark Rates – largest all-time antitrust settlement
  • Ageas (f/k/a Fortis) – largest all-time settlement in Europe
  • Tesco – second largest all-time settlement in the United Kingdom
  • Wells Fargo – highly publicized sales scandal resulting in a relatively quick settlement
2018 – Top Settlements
Rank Case Settlement Amount Country Settlement Date
1 Petrobras $3,000,000,000 United States 25-Jun-18
2 Foreign Exchange Benchmark Rates (Antitrust) $2,310,275,000 United States Multiple
3 Ageas (f/k/a Fortis) $1,542,014,910* Netherlands 13-Jul-18
4 LIBOR-Based Financial Instruments (Antitrust) $590,000,000 United States Multiple
5 ISDAfix Transactions (Antitrust) $504,500,000 United States Multiple
6 Wells Fargo & Company $480,000,000 United States 18-Dec-18
7 Euro Interbank Offer Rate (Antitrust) $309,000,000 United States 18-May-18
8 Allergan, Inc. $250,000,000 United States 14-Aug-18
9 Euroyen-Based Derivatives (Antitrust) $236,000,000 United States Multiple
10 Wilmington Trust Corporation $210,000,000 United States 5-Nov-18
11 LendingClub Corporation $125,000,000 United States 20-Jul-18
12 comScore, Inc. $110,000,000 United States 7-Jun-18
13 Tesco Compensation Scheme $106,688,600** United Kingdom 30-Nov-18
14 Halliburton Company $100,000,000 United States 25-Apr-18
15 SNC-Lavalin Group Inc. $85,638,600*** Canada 31-Oct-18
*This case settled for €1,308,500,000
**This case settled for £85,000,000
***This case settled for CAD $110,000,000
“Multiple” settlement date is used as different defendants settled on different dates
2018 – Top Disbursements
Rank Case Settlement Amount Country Disbursement Date
1 BP p.l.c. (SEC) $525,000,000 United States 11-Sep-18
2 State Street Indirect FX $300,000,000 United States 8-Aug-18
3 Salix Pharmaceuticals, Ltd. $210,000,000 United States 10-Aug-18
4 JPMorgan Chase & Co. $150,000,000 United States 13-Mar-18
5 Convergex Global Markets (SEC) $109,440,738 United States 4-Apr-18
6 Tesco Compensation Scheme $106,688,600* United Kingdom 1-May-18
7 Halliburton Company $100,000,000 United States 17-Aug-18
8 Lehman Brothers Holdings, Inc. $99,000,000 United States 29-Aug-18
9 Cliffs Natural Resources Inc. $84,000,000 United States 23-Feb-18
10 MGM Mirage (n/k/a MGM Resorts) $75,000,000 United States 10-Jul-18
11 Dana Corporation $64,000,000 United States 6-Apr-18
12 NII Holdings, Inc. $41,500,000 United States 27-Apr-18
13 St. Jude Medical, Inc. $39,250,000 United States 15-Jun-18
14 Treasury Wine Estates Ltd. $38,893,750** Australia 1-Feb-18
15 L-3 Communications (n/k/a L3 Technologies) $34,500,000 United States 11-Jun-18
*This case settled for £85,000,000
**This case settled for AUD $49,000,000
This table includes initial disbursements only and does not include residual or secondary disbursements

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