Securities class action case filings remained flat in 2024, with 229 filings equaling the number of new cases filed in 2023. The number of filings in 2024 tied with 2023 for the highest number of filings since 2020. The...more
The Supreme Court is set to hear arguments in two cases concerning the pleading standard in securities fraud class actions....more
11/5/2024
/ Annual Reports ,
Certiorari ,
Class Action ,
Disclosure Requirements ,
Facebook Inc v Amalgamated Bank ,
Misleading Statements ,
Nvidia Corp v E Ohman J or Fonder AB ,
Pleading Standards ,
PSLRA ,
Rule 10b-5 ,
SCOTUS ,
Securities Exchange Act of 1934 ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation
The Securities and Exchange Commission ("SEC") won at trial in its first "shadow trading" case, holding a corporate official liable for insider trading for using nonpublic information about his company's acquisition to trade...more
4/19/2024
/ Acquisition Agreements ,
Enforcement Actions ,
Insider Trading ,
Material Nonpublic Information ,
Pharmaceutical Industry ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Securities Violations ,
Third-Party
During 2023, securities lawsuit filings rose for the first time in four years. Settlements declined last year; there were nine mega-settlements of more than $100 million, including a $1 billion settlement. Case filings...more
2/28/2024
/ Class Certification ,
Cryptocurrency ,
False Statements ,
Fiduciary Duty ,
Financial Institutions ,
Financial Services Industry ,
Misleading Statements ,
Scienter ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation ,
Securities Violations ,
Special Purpose Acquisition Companies (SPACs) ,
Standing ,
Statute of Limitations
A recent decision by the First Department of the New York Appellate Division held that the Private Securities Litigation Reform Act's automatic stay of discovery applies in state court, but not during the pendency of an...more
According to the Stanford Law School/Cornerstone Research Securities Class Action Clearinghouse, each year since 2001, with just one exception (2006), investors have filed more than 150 securities fraud class actions in the...more
During 2022, securities case filings fell for the fourth consecutive year and were down slightly from 2021. The number of announced settlements rose substantially last year, as did total settlement amounts. The 2022...more
2/8/2023
/ Class Action ,
Class Certification ,
Corporate Counsel ,
Cryptocurrency ,
Cybersecurity ,
Initial Public Offering (IPO) ,
Popular ,
Scienter ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Special Purpose Acquisition Companies (SPACs)
2020 was another active year for securities litigation in the United States. Federal securities class actions continued to be filed at record levels notwithstanding the COVID-19 pandemic. In fact, a number of those newly...more
2/8/2021
/ Attorney-Client Privilege ,
Class Action ,
Class Certification ,
Corporate Counsel ,
D&O Insurance ,
Derivative Suit ,
Forum Selection ,
Loss Causation ,
Pleading Standards ,
Scienter ,
Securities Exchange Act ,
Securities Fraud ,
Securities Litigation ,
Short-Swing Trading ,
Special Purpose Acquisition Companies (SPACs)