Securities class actions were filed at historic levels during the first half of 2017 and well above last year’s “elevated pace,” writes Kevin LaCroix for Law360.
There were a total of 225 securities class actions filed in the first half of 2017, which projects to a year-end total of 450 securities class actions. This projected year-end total, if realized, would represent the highest number of securities class action filings since 2001.
“Why are securities suit filings now so far greater than historic levels,” writes LaCroix. “The one that seems likeliest is that these levels of securities suit filings reflect changes in the plaintiffs securities class action bar… a significantly larger number of securities class actions are now being filed by a group of small plaintiffs firms that were not previously active in filing securities lawsuits.”