Securities class actions soared in 2017, jumping from 271 filings in 2016 to a near record 412 filings in 2017 — well above the average of 193 per year for the years 1997 to 2016. Only 2001 was comparable, although both 2001 and 2017 were inflated by special factors. Now add to this growth the $3 billion settlement in the Petrobras litigation earlier this year (plus the highly favorable ruling by the Second Circuit in Petrobras last year). The result may be the same as when the discovery of gold at Sutter’s Mill was announced to the world. The plaintiff’s bar may come running.
‘Enforcement 40’ for 2020
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