Global Securities Class Actions Surge in 2024, Broadridge Report Highlights $5.2 Billion in Settlements and an Increase in New Federal Filings Two Years in a Row

Rhea-AI Summary

Broadridge Financial Solutions (NYSE: BR) released its sixth Global Class Action Annual Report, revealing global securities class action settlements reached $5.2 billion across 136 settlements in 2024. The report highlights a 14% growth in U.S. settlements, exceeding the five-year average by 5%. Notable trends include:

- Ten mega-settlements surpassing $100 million each
- 28% increase in antitrust recoveries
- 222 new federal securities class action lawsuits
- Over 300 newly filed cases globally
- More than 1,000 unresolved cases tracked in 20+ countries

The report identifies key trends including the surge in ESG-related lawsuits, Europe's legal evolution under the Representative Actions Directive, increasing cryptocurrency litigation, cybersecurity settlements totaling $560 million, and rising AI-related cases. The largest settlement was the Stock Loan Antitrust Class Action at $580,008,750.

Positive

• Settlement values exceeded five-year average by 5%
• 14% growth in U.S. settlements
• Record-breaking antitrust recoveries with 28% increase
• Ten mega-settlements over $100 million each
• Expansion of business with over 1,000 organizations using BR's services

Negative

• Settlement values declined compared to previous year
• Increasing litigation risks with 300 new cases filed

News Market Reaction – BR

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On the day this news was published, BR gained 1.51%, reflecting a mild positive market reaction.

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Mega settlements on the rise as antitrust settlements maintain record pace

NEW YORK and LONDON, Jan. 30, 2025 /PRNewswire/ -- Global securities class action settlements soared to a value of more than $5.2 billion across 136 settlements worldwide in 2024, according to the sixth Global Class Action Annual Report by global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE: BR). The report findings highlight a dynamic year for investors seeking redress in an evolving global legal landscape.

"While settlement values dipped slightly below last year's figures, they exceeded the five-year average by 5%, driven by an impressive 14% growth in U.S. settlements," said Steve Cirami, Broadridge Global Securities Class Actions leader. "Moreover, our analysis uncovered more than 300 newly filed cases involving publicly traded securities, pushing the total number of unresolved cases Broadridge is tracking to more than 1,000 globally in over 20 countries. This continued increase in settlements is driving strong demand for Broadridge's leading class action services solution as they seek to maximize shareholder returns."

Key 2024 Global Class Actions Highlights:

• Mega Settlements on the rise: Ten cases each surpassed $100 million, exceeding a five-year mega-settlement average by 4%.
• Antitrust Records Broken: Nine antitrust claim deadlines matched last year's high, while total recoveries soared 28%.
• Unresolved Cases Expand: Influx of 300 new filings highlights increasing volume of unresolved securities disputes globally.
• Rise in Federal Filings: A total of 222 new securities class action lawsuits were initiated in U.S. federal courts, marking the second consecutive year of increased filings.

Read the full 2025 Global Class Action Annual Report

Major Trends Reshaping Global Securities Litigation

• Environmental, Social and Governance (ESG) Lawsuits Dominate – Related shareholder actions surged, fueled by investors leveraging collective actions to enforce ESG principles.
• Europe's Legal Evolution – The European Union (EU) continued its transition under the Representative Actions Directive (RAD), with compliance milestones met by Belgium, Germany, Ireland, Austria and Sweden in 2024. More than 100 collective redress claims were filed across Europe, setting a global precedent for opt-in litigation.
• Cryptocurrency Complexity – As cryptocurrencies gain institutional traction amidst regulatory scrutiny, cases involving digital assets are rising sharply. This evolving financial frontier poses challenges for institutional investors navigating claims related to crypto and other emerging financial instruments.
• Cybersecurity Takes Center Stage – The sharp increase in cybersecurity-related settlements, including three of the year's top ten cases totaling $560 million, underscores growing importance of disclosure regulations globally.
• AI Litigation Surges – Rapid advancements in artificial intelligence (AI) have invited legal challenges, with cases alleging insufficient AI disclosures doubling since 2020. Shareholders demand clarity on AI development risks and ethical implications, signaling a new wave of scrutiny.

The 10 Most Complex Cases of 2024

The report spotlights the 10 most administratively complex settlements of 2024. These cases provide vital lessons for navigating global asset recovery in an increasingly intricate legal ecosystem. According to Broadridge's 2025 Global Class Action Annual Report, these 10 cases are:

1. Stock Loan Antitrust Class Action - $580,008,750
2. Mesoblast Securities Litigation - AUD $26,500,000
3. European Government Bonds Antitrust Litigation - $120,000,000 (Combined)
4. Perrigo Securities Litigation - $97,000,000
5. Gatos Silver, Inc. Securities Class Actions - $24,715,600 (Combined)
6. Boohoo Group plc Opt-in Securities Litigation - Pending Litigation (International Opt-in)
7. BP Ordinary Shares Fair Fund - $60,923,821
8. Cleco Corporation Merger Settlement - $37,000,000
9. Oak Street Health Securities Settlement - $60,000,000
10. Under Armour Securities Litigation - $434,000,000

Report Methodology

The 2025 Global Class Action Annual Report examines global cases identified by the Broadridge Asset Recovery Advocate™ database involving publicly traded securities or financial instruments that use a class action process to recoup lost funds.

The report identified more than 135 global settlements involving securities and/or financial products with a 2024 claim filing deadline. The report provides a comprehensive summary of the most complex cases of 2024 and highlights several other cases we deem to be honorable mentions.

The study is for informational purposes only and should not be considered as investment, legal, or any other form of advice.

Broadridge Global Class Action Services

Broadridge's team of dedicated class action experts include attorneys, client advocates, class action auditors, data analysts, research professionals and client service representatives, all of whom on average have 15-20 years of class action experience. Learn more about the team here. Over 1,000 organizations rely on Broadridge's global class action services because of our best in-class standards, worldwide reach and industry expertise. With 160 million accounts under management, our experts analyze and match all investment positions to identify recovery opportunities for each security relevant to every case.

Broadridge's proprietary technology and processes—the backbone of which is our Advocacy Model—enable you to reduce risk, improve the client experience, protect program data, and increase filing participation and recoveries. Given our extensive knowledge of claims administration, global securities litigation and antitrust litigation, we know the importance of accuracy, timeliness and transparency. Our proactive approach and unique system of analysis and reconciliation ensures we do everything possible to maximize your recovery.

About Broadridge

Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. 

Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries. For more information, please visit www.broadridge.com. 

Media Contact:

Tatjana Kulkarni
Tatjana.Kulkarni@broadridge.com

 

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What was the total value of global securities class action settlements for Broadridge (BR) in 2024?

Global securities class action settlements reached $5.2 billion across 136 settlements worldwide in 2024.

How many mega-settlements did Broadridge (BR) report in 2024?

Broadridge reported ten mega-settlements exceeding $100 million each, surpassing the five-year average by 4%.

What was the largest settlement reported by Broadridge (BR) in 2024?

The Stock Loan Antitrust Class Action was the largest settlement at $580,008,750.

How many new federal securities class action lawsuits were filed in 2024 according to Broadridge (BR)?

222 new securities class action lawsuits were filed in U.S. federal courts in 2024.

What was the total value of cybersecurity-related settlements in Broadridge's (BR) 2024 report?

Cybersecurity-related settlements totaled $560 million, including three of the year's top ten cases.