The Securities Class Action Filings—2019 Midyear Assessment, released Thursday by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse, shows that plaintiffs filed 198 new federal securities class actions in the first half of 2019. The number of filings continued this year at a near record level.
“The likelihood of a lawsuit of this type has increased substantially over the last 10 years,” said Sasha Aganin, vice president of Cornerstone Research and co-author of the report. “If you go back to 2010, the likelihood was slightly above 2%. Now it’s above 5%.” And even higher for Standard & Poor’s 500 firms at 6.4%.
Aganin said the increased number of filings carry a financial impact beyond the mere cost of litigation and settlements.
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