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 federal courts. More than 400 cases were filed each year between 2017 and 2019, and just shy of 200 were filed in 2022. During that same time period, the median settlement of a securities fraud class action has ranged from $5.8 million to $12.1 million in 2018.