Zealous Institutions Drive D&O Settlement Skyward
With the noise of IPO laddering claims figuring into this year's statistics, there isn't total agreement about whether the level of more traditional securities cases in 2001 will be slightly up or slightly down from last year. But the dismissal rate of such cases is no longer rising and settlement values are ballooning, according to a plaintiffs' attorney.
“I believe the trends are positive for plaintiffs' securities class action litigation–and, conversely, negative for your industry,” Sherrie Savett, managing principal for Berger & Montague in Philadelphia, told insurers and brokers gathered at the annual meeting of the Professional Liability Underwriting Society in November.
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