Class action securities litigation settlements reached $3 billion in 2021

Rick Steves

Over 850 organizations rely on Broadridge’s global class action services because of its worldwide reach, industry expertise and world-class standards.

Class action securities litigation settlements increased by 50% in 2021, according to a report by Broadridge Financial Solutions, which added that total settlements reached more than $3 billion.

Significant trends in the class action world, which are already continuing into 2022, include a rise in SPAC and cryptocurrency-related securities litigations, a substantial reduction in M&A class action filings, and an increased focus on ESG investors using securities class and collective actions as a tool for enforcing shareholder values.

Number of settlements rise by a dramatic 50%

Steve Cirami, Broadridge Class Actions leader, said: “Last year we watched the number of settlements rise by a dramatic 50% as cases continue to be increasingly complex and global. The landscape continues to change dramatically, with more countries enacting class action laws. At the same time, we are now seeing more settlements involving unique and complex financial instruments, commodities and new asset classes, such as cryptocurrencies.”

Broadridge noted that the Block.one settlement was one of the first cryptocurrency-related securities class action settlements.

Other changes worth of note is the growth in opt-in jurisdictions and the rise in collective investor actions; increased participation in opt-in litigation; and broker-dealers’ shift in service.

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.

Over 850 organizations rely on Broadridge’s global class action services because of its worldwide reach, industry expertise and world-class standards.

Dipti Kachru leads marketing efforts at Broadridge

In late 2021, Broadridge appointed Dipti Kachru as Global Chief Marketing Officer, based in New York and reporting to President Chris Perry.

The Global CMO will be responsible for brand and digital strategy, product positioning, lead generation, and thought leadership, all aspects of Broadridge’s global marketing organization.

Dipti Kachru was hired to drive measurable growth, build Broadridge’s global brand reputation, expand client relationships, and support the organization’s revenue growth ambitions.

Kachru joins Broadridge from J.P. Morgan where she most recently served as Chief Marketing Officer for the Wealth Management division.

She is credited for launching the J.P. Morgan Wealth Management brand and building an industry-leading client acquisition engine that delivered significant business growth.

Past senior consumer and wholesale marketing roles include firms such as JPMorgan Chase and Oppenheimer Funds (now Invesco) after an advertising career for Pepsi, American Express, and Microsoft.

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