Securities Class Action Lawsuits: Settlements & Disbursements (Q4, 2024)
Two $1 billion settlements paid out to investors during the fourth quarter of 2024, as cases involving Dell Technologies and Wells Fargo accounted for roughly two-thirds of the overall distribution volume from Oct. 1 through Dec. 31.
FRT tracked 31 securities class actions settling for a combined $1.4 billion in Q4, almost exactly matching the level of activity we observed in the prior quarter. Additionally, 33 cases disbursed nearly $3 billion to claimants during the quarter. More on these matters below.
Largest Case Settlements (Q4:24)
- Alibaba ($433.5m)
- TuSimple ($189m)
- Scusa ($162.5m)
- VMware ($102.5m)
- Earthlink ($85m)
The two largest settlements of the quarter both involve defendants with ties to China. Alibaba, dual-listed on the NYSE and the Hong Kong Stock Exchange, was the third-largest settlement of 2024 in a case centered on the tech conglomerate’s American Depositary Shares. TuSimple is an autonomous trucking company based in the U.S., but with significant operations and investor backing in China as well as tentative plans to relocate there.
The Scusa class action resolved in Delaware’s Court of Chancery, meaning that claim forms are not required for eligible investors.
As is the case most years, the 10 largest securities class actions of 2024 represented approximately 50% of all new settlement dollars, including six cases of $200 million or more.
Most Active Claims Administrators by Settlement Funds (Q4:24)
- A.B. Data (9 cases, $750.6m)
- Gilardi & Co (2 cases, $291.5m)
- JND Legal Administration (6 cases, $198.3m)
- Veritas Global (2 cases, $104.5m)
- Strategic Claims Services (5 cases, $53.7m)
Largest Case Disbursements (Q4:24)
- Dell Technologies ($1b)
- Wells Fargo ($1b)
- McKesson ($141m)
- Alexion Pharmaceuticals ($125m)
- Micro Focus ($107.5m)
Like Scusa, the Dell litigation was also a Delaware class action, which involved a 2018 stock swap related to the tech giant’s interest in VMware. The Wells Fargo case was a standard securities class action settlement stemming from a series of well-publicized scandals involving the bank.
Dell and Wells Fargo, along with the $809 million Twitter settlement that disbursed in May, were the three largest payouts of 2024 by far and accounted for almost half of last year’s total distributions for U.S. class actions.
Related: Delaware Shareholder Recovery 101: Class Actions vs. Appraisal Rights
Most Active Claims Administrators by Total Disbursements (Q4:24)
- A.B. Data (9 cases, $1.2b)
- Epiq Systems (5 cases, $1.1b)
- Gilardi & Co (7 cases, $282.2m)
- KCC Class Action Services (1 case, $125m)
- JND Legal Administration (2 cases, $50.2m)
Tracked Case Disbursements (Q4:24)
Securities class action settlements paid out from Oct. 1, 2024 through Dec. 31, 2024.
| Disbursement Date | Case Name | Claim Deadline | Settlement Fund |
|---|---|---|---|
| 10/04/2024 | OCLARO INC | 12/21/2023 | $15,250,000.00 |
| 10/04/2024 | JAGGED PEAK ENERGY INC, | 12/12/2023 | $8,250,000.00 |
| 10/07/2024 | CD PROJEKT S.A | 05/02/2023 | $1,850,000.00 |
| 10/09/2024 | PRECIGEN INC | 11/25/2023 | $13,000,000.00 |
| 10/16/2024 | Mylan N.V. Fair Fund | 04/25/2022 | $30,000,000.00 |
| 10/17/2024 | STERICYCLE, INC., | 08/07/2019 | $45,000,000.00 |
| 10/21/2024 | INTERFACE INC. | 09/13/2023 | $7,500,000.00 |
| 10/21/2024 | 3D SYSTEMS CORP | 10/24/2023 | $4,000,000.00 |
| 10/23/2024 | WELLS FARGO & Company | 10/05/2023 | $1,000,000,000.00 |
| 10/25/2024 | IANTHUS CAPITAL HOLDINGS INC | 04/17/2024 | $2,900,000.00 |
| 10/29/2024 | SEAWORLD ENTERTAINMENT INC Fair Fund | 10/19/2023 | $5,266,679.00 |
| 11/08/2024 | TACTILE SYSTEMS TECHNOLOGY INC | 08/23/2023 | $5,000,000.00 |
| 11/12/2024 | Micro Focus Intl PLC | 05/30/2023 | $107,500,000.00 |
| 11/12/2024 | INOVIO PHARMACEUTICALS INC | 12/19/2022 | $30,000,000.00 |
| 11/12/2024 | FARADAY FUTURE | 02/12/2024 | $7,500,000.00 |
| 11/12/2024 | 22ND CENTURY GROUP INC | 10/10/2023 | $3,000,000.00 |
| 11/14/2024 | PAYSIGN INC | 03/04/2024 | $3,750,000.00 |
| 11/20/2024 | MCKESSON CORP | 05/10/2023 | $141,000,000.00 |
| 11/20/2024 | CLOOPEN GROUP HOLDING LIMITED | 02/14/2024 | $12,000,000.00 |
| 11/22/2024 | ORRSTOWN | 06/22/2023 | $15,000,000.00 |
| 11/22/2024 | AAC HOLDINGS INC | 11/24/2023 | $3,750,000.00 |
| 11/27/2024 | DELL TECHNOLOGIES INC | N/A | $1,000,000,000.00 |
| 11/27/2024 | CVR REFINING LP | N/A | $78,500,000.00 |
| 11/27/2024 | COTY INC | N/A | $35,000,000.00 |
| 11/27/2024 | BROADWIND ENERGY INC, Fair Fund | 06/14/2022 | $1,691,467.00 |
| 12/06/2024 | GEO GROUP INC | 11/28/2023 | $3,000,000.00 |
| 12/12/2024 | NUTANIX INC | 09/06/2023 | $71,000,000.00 |
| 12/16/2024 | ALEXION PHARMACEUTICALS INC | 12/15/2023 | $125,000,000.00 |
| 12/16/2024 | TERRAVIA HOLDINGS INC. | 05/23/2024 | $2,500,000.00 |
| 12/20/2024 | MAXAR TECHNOLOGIES INC Securities Litigation | 10/23/2023 | $27,000,000.00 |
| 12/23/2024 | SPECTRUM BRANDS HOLDINGS Securities Litigation | 10/02/2020 | $9,000,000.00 |
| 12/27/2024 | MYRIAD GENETICS INC. Securities Litigation | 01/16/2024 | $77,500,000.00 |
| 12/27/2024 | ROMEO POWER INC. Securities Litigation | 05/29/2024 | $14,900,000.00 |
Live Session: 2025 Shareholder Recovery Trends
Join FRT’s in-house legal experts on Jan. 22, 2025, for an in-depth discussion of:
- The SEC’s philosophy toward Fair Fund rejections
- Which verticals produce the most class actions (and why)
- The largest settlements and payouts of 2024
- Learnings from the massive FX and Euribor antitrust distributions
Register Here > FRT Market Insider: 2025 Shareholder Recovery Trends
This session is approved 0.5 hours of general CLE credits by The Florida Bar and any other state that accepts Florida CLE credits.