New York - Private securities class-action lawsuits spiked 16 percent from 2003 to 2004, with aggregate settlements topping $5 billion - the largest amount on record, according to a securities litigation study by Big Four firm PricewaterhouseCoopers.
The study said that the mammoth amounts were anchored by partial settlements at companies such as WorldCom, which has thus far paid out $2.7 billion, followed by Raytheon ($510 million) and Bristol Myers ($300 million).
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access