The number of securities class action lawsuit filings in the year’s first half was up slightly compared to the number of filings in the first half of 2022, though roughly in line with the long-term average number of half-year securities suit filings. As discussed below, several factors contributed to the number of filings in the first six months of 2023, including the number of crypto and digital currency-related filings and the number of filings related to macroeconomic factors (such as interest rates, labor supply, and inflation). Concerns that drove securities suit filings in recent periods, including COVID-related suits and SPAC-related suits, were less of a factor in the year’s first half.
There were 113 securities class action lawsuits filed in the first half of 2023, compared to 110 in the first six months of 2022. The number of first half filings in 2023 is in line with the 1997-2021 average number of half year filings of 114. The number of first half 2023 filings implies a projected full-year number of filings by year-end 2023 of 226 securities suit filings, which would represent an increase compared to the full-year 2022 total number of filings of 197. Were 2023 to finish the year with a total of 226 securities suit filings, that would represent the highest annual number of securities suit filings since 2020 (when 318 securities suits were filed).
Source: Securities Suit Filings Up Slightly in Year’s First Half | The D&O Diary
