The total value of accounting case settlements grew by more than 67% in 2022 to $1.4 billion, up from $817 million the previous year. Key contributors to the significant jump in total settlement value were an increase in the average settlement amount to $31.7 million in 2022 from $24.7 million in 2021, coupled with a 30% year-over-year increase in the number of settled cases to 43 from 33 the prior year.
The median value of settled accounting cases also nearly doubled from the previous year to $15.5 million. The 91% year-over-year increase—the biggest jump since 2012—indicates that accounting settlements were a key driver of the 46% increase in the median value of all securities class action settlements, as discussed in Securities Class Action Settlements—2022 Review and Analysis.
Source: 2022 Accounting-related Securities Class Action Settlements Rise
