In the News Today – August 18, 2015

The U.S. Securities and Exchange Commission reportedly has extracted a $180 million settlement from Citigroup related to hedge fund accusations. (Wall Street Journal)

After a judge presiding over New York City’s controversial asbestos docket ordered three trials in which separate plaintiffs will be grouped together, defendants cited a Bates White study which showed that, on average, a plaintiff receives more than $23 million when his or her case is consolidated with other claims during the period 2010-2014. According to that study, these consolidated verdicts “are 250% more per plaintiff than NYCAL awards in individual trial settings over that same span and 315% more per plaintiff than the national average award.” (Legal Newsline)