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Particularly with regard to securities class action lawsuits, the size of D&O settlements has increased dramatically over the past several years. For example, since mid-1999, there have been more than a dozen settlements or judgments in excess of $100 million, with at least one-third of those being in excess of $200 million.
Perhaps even more troubling than the size and frequency of these enormous settlements and judgments is the fact that this level of settlement inflation is occurring in securities class actions of all sizes. Even smaller cases are often settling for as much as 30 percent to 50 percent more than what would have been expected in 1999.
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