The number of securities class action lawsuit filings involving accounting allegations increased slightly in 2022 compared to 2021, but the number of 2022 accounting-related securities suit filings remained below the long-term annual average of such filings, according to the latest annual report from Cornerstone Research. At the same time, the total number, aggregate total value, and median and average values of accounting-related securities suit settlements increased in 2022 compared to the 2021. The Cornerstone Research report, which is entitled “Accounting Class Action Filings and Settlements: 2022 Review and Analysis,” can be found here. Cornerstone Research’s April 12, 2023, press release about the report can be found here.Continue Reading Cornerstone Research: Accounting Related Case Filings and Settlements Increased in 2022

The total number of securities class action lawsuit settlements reached the highest level in 15 years in 2022, and median, average, and aggregate settlement amounts also rose significantly in 2022 compared to the year prior, according a recently published annual report from Cornerstone Research. The report, entitled “Securities Class Action Settlements: 2022 Review and Analysis,” analyzes the 105 securities class action lawsuit settlements finalized in 2022 and compares them statistically with prior years’ settlements. The report can be found here. Cornerstone Research’s March 8, 2023, press release about the report can be found here.Continue Reading Cornerstone Research: Securities Suit Settlements at High Levels in 2022

According to the latest report from Cornerstone Research, the number of securities class action lawsuit filings declined slightly in 2022 relative to 2021, although the number of “core” securities suit filings increased slightly compared to 2021. The report, which is entitled “Securities Class Action Filings: 2022 Year in Review,” and which was published in conjunction with the Stanford Law School Securities Class Action Clearinghouse, notes that the number of new lawsuits involving Section 11 allegations rose 2022, likely due to the surge in IPOs during 2021. A copy of the report can be found here. Cornerstone Research’s February 1, 2023 press release about the report can be found here.Continue Reading Cornerstone Research: Securities Suit Filings Declined in 2022

Securities class action lawsuits involving tech companies increased for the fourth consecutive year in 2019, according to the latest report from Cornerstone Research. The report, examining securities litigation activity against tech companies, supplements Cornerstone Research’s previously released report on 2019 securities litigation filing activity generally. The most recent report, which is entitled “Tech Company Securities Class Action Lawsuit Filings and Settlements: 2015 – Q1 2020 Review and Analysis,” and which examines securities filings and settlements related to tech companies between 2015 and Q1 2020, can be found here. Cornerstone Research’s August 20, 2020 press release about the report can be found here.
Continue Reading Securities Suit Filings Against Tech Companies at Record High Levels in 2019

Among the more significant securities class action filing trends in recent years has been the rise in event-driven litigation – that is, lawsuits based on adverse developments in the defendant company’s business operations, as opposed to allegations based on alleged financial or accounting misrepresentation. But while event-driven suits arguably have garnered the most attention, the reality is that the number of federal court securities class action lawsuits involving accounting allegations was at “record levels” in 2019, at least when merger-related accounting suits are taken into account. According to a new report from Cornerstone Research, the number of securities suit filings in 2019 involving accounting allegations was nearly double the historical average. The March 25, 2020 report, entitled “Accounting Class Action Filings and Settlements: 2019 Review and Analysis” can be found here. Cornerstone Research’s press release describing the report can be found here.
Continue Reading Accounting-Related Securities Suit Filings at “Record Levels” in 2019

There were slightly fewer securities class action lawsuits and for fewer total dollars in 2019 compared to 2018, but the median settlement amount was unchanged in 2019 from the year prior, according to the annual securities suit settlement report from Cornerstone Research. The report, which is entitled “Securities Class Action Settlements: 2019 Review and Analysis,” states that the $11.5 million median securities class action settlement in 2019 was 34 percent higher than the 2010-2018 median. The report can be found here. Cornerstone Research’s February 26, 2020 press release about the report can be found here.
Continue Reading Total and Average Securities Settlements Down, Median Settlements Unchanged

Cornerstone Research has released its annual survey of securities class action lawsuit filings for 2019. The year’s version of the report introduces some notable innovations. In prior years, the annual report focused exclusively on federal court securities suit filings. In last year’s report, the survey also incorporated significant state court securities litigation data. This year for the first time the report fully incorporates the state court data in the presentation and analysis. The updated report also includes several new interesting perspectives on the past year’s securities litigation filings, particularly with respect to state court lawsuit filings. As the report details, the state court filings “helped push filing activity to record levels.”
Continue Reading Cornerstone Research: Combined Federal and State Data Shows Securities Filings at “Record Levels”

Plaintiffs filed federal court securities class action lawsuits at  “near-record levels” during the first six months of 2019, according to a new report from Cornerstone Research. The July 31, 2019 report, entitled “Securities Class Action Filings: 2019 Midyear Assessment,” notes that the elevated filing levels continued in the year’s first half despite reduced numbers of merger objection lawsuit filings. In addition to the number of federal court filings, there were a significant number of state court securities suit filings, bringing overall filing levels close to all-time highs. The new report can be found here. Cornerstone Research’s July 31, 2019 press release about the report can be found here. My own analysis of the first half filings can be found here.
Continue Reading Federal Court Securities Suit Filings at Near Record Pace in Year’s First Half

cornerstone reserach pdfSecurities class action lawsuit filings in the first half of 2016 leapt to their highest level in years, according to a recent report from Cornerstone Research. According to the report, which is entitled “Securities Class Action Filings: 2016 Midyear Assessment,” both the number of lawsuit filings and the rate of litigation were well above long-term historical semiannual averages in the first six months of 2016. The increases are attributable in part to the increase in federal court M&A-related securities litigation, as discussed below. The report can be found here. Cornerstone Research’s July 26, 2016 press release about the report can be found here. Cornerstone Research’s analysis is largely consistent with my own review of the first half securities suit filings, which can be found here.
Continue Reading Cornerstone Research: First Half Securities Suit Filings at Highest Level in Years