Global Securities Class Action Cases Yielded Lower Payouts – Broadridge

Editorial Staff

23 February 2026

Global securities class action litigation secured more than $4 billion in investor recoveries last year, below the 2024 total of $5.2 billion, new figures show. However, the figure reveals that legal battles continue to produce high payouts amid volatile markets and increasingly complex cross-border frameworks.

The data comes from Broadridge, a US-based business that provides tech solutions to financial firms.

In a new report, that shows the most complex class-action cases, Broadridge said that 2025 marked a “turning point,” with surging AI-related litigation, growing momentum in opt-in and collective actions, expanding ESG focused claims, and a moderation in financial antitrust activity.

The way that class action cases’ settlements are handled is a process that forms part of the “plumbing” of the financial world – an area that tends not to be widely understood. But the total size of settlements involved shows that this is not just a fringe issue, but one that bankers and wealth managers must understand.

“Class action participation is no longer passive – it’s operational,” Christi Cannon, vice president and general manager of global class actions at Broadridge, said. “Cases move faster, span more jurisdictions, and demand greater precision.”

Nine settlements exceeded $100 million, just one short from the record set in 2024, the firm said. Antitrust cases lost momentum and financial antitrust activity moderated, with only four settlements taking place, at a total of $179 million, following last year’s record high of nine.

US securities filings remained near recent levels – there were 205 cases in 2025, just 3 per cent below the four-year rolling average, reflecting relative stability in enforcement activity.

Settlements tied to special purpose acquisition companies and merger transactions accounted for a disproportionate share of total recoveries, even as new case filings remained broader in scope.

The 10 most complex cases of 2025:

-- EQT Corporation Securities Litigation – $167,500,000;
-- Turquoise Hill Resources Ltd. Securities Litigation – $138,750,000;
-- BHP Group Ltd. Securities Litigation – AUD110,000,000 ;
-- Alta Mesa Resources Inc Securities Litigation – $126,300,000;
-- Interest Rate Swaps Antitrust Litigation – $71,000,000;
-- British American Tobacco Opt-in Litigation – Pending Litigation ;
-- BCS PLC Securities Litigation and Fair Fund – $219,500,000 ;
-- Viacom Archegos Securities Litigation – $120,000,000;
-- Grab Holdings Ltd. Securities Litigation – $80,000,000; and
-- Alibaba Group Holding Ltd. Securities Litigation – $433,500,000.