Securities class actions and shareholder derivative actions in 2011

The Securities and Futures Investors Protection Center has released updated figures for 2011.

By the end of 2011, the Center had filed 150 class action lawsuits on behalf of more than 97,000 investors seeking total damages of over NT$41.6 billion (c. US$ 1.39 billion).

The Center has now prevailed in 35 final cases. It has also won 21 cases on the first or second instance. These lawsuits have yielded a total of NT$12.8 billion (c. US$427 million) in damages. The Center has also negotiated settlements worth NT$1.5 billion (c. US$50 million).   The Center entered into settlements valued at NT$110 million (c. US$3.6 million) in 2011.

Through 2011, the Center had filed nine shareholder derivative actions and six petitions for orders to discharge directors.