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September 3, 2019

Securities Class Action Filings Remain at High Tide

The first half of 2019 continued the heightened pace of federal court securities class actions with 199 cases filed, signaling a year-end total of around 400 such lawsuits. While 2019 may see slightly less than 2018’s total of 403 federal securities class actions, these numbers remain far in excess of the 1997-2017 annual average filing number of 203, writes Kevin LaCroix of The D&O Diary. LaCroix also points out that the federal securities class action litigation rate—the proportion of public companies facing such lawsuits in a given year—was 8.4 percent in the first half of 2019, which matches the unusually high rates seen in 2017 and 2018.

This trend has also been documented in recent ILR research, which predicts that unless Congress and the Securities and Exchange Commission take action, federal securities class actions will continue to proliferate at historic levels.

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