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Accounting Class Actions Rise Slightly in 2013

Tammy Whitehouse | April 30, 2014

The number of U.S. accounting class action settlements increased slightly in 2013 with an average settlement amount of $26.6 million, although the number of cases still remained relatively low compared with the past decade, according to a research analysis of securities class action cases. 

In 2013, companies dealt with 47 accounting class action cases involving allegations of improper application of accounting principles and internal control over financial reporting, leading to settlements that averaged $26.6 million, according to Cornerstone Research. In 2012, companies faced 46 accounting-related actions, a significant decline from the 80 cases in 2011 or the decade high of 105 cases in 2004.

The...

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