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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInYou Aren’t Just Imaging Things: The Current SEC Really is More Active | The D&O Diary
If you have had the sense that under the current administration the SEC is more active and more aggressive, two reports issued this past week will confirm that your sense is correct. First, on November 15, 2022, the SEC’s Enforcement Division issued its Enforcement Results Report for FY 2022 (ended September 30, 2022), showing that […]
SEC Chairman’s Agenda Strains Resources, Internal Watchdog Finds – WSJ
The Securities and Exchange Commission’s fast-paced rule-making agenda under Chairman Gary Gensler has stretched staff resources, and some officials worry it could increase the risk of lawsuits, the agency’s internal watchdog said in a recent report. In meetings with the SEC’s inspector general, managers at the agency expressed concerns about short deadlines for staff to […]
Takeaways from the SEC Division of Enforcement’s FY 2021 Report and Predictions for FY 2022 | Patterson Belknap Webb & Tyler LLP
The report revealed mixed numerical trends. Although the Division brought fewer total enforcement actions, it nevertheless collected a sizeable amount of money in penalties and generously rewarded whistleblowers. In FY 2021, the Commission filed 434 new enforcement actions of 697 total enforcement actions. New enforcement actions increased by 7% from FY 2020, but the total […]
SEC Announces Enforcement Results for FY 2021
The Securities and Exchange Commission today announced that it filed 434 new enforcement actions in fiscal year 2021, representing a 7 percent increase over the prior year. Seventy percent of these new or “stand-alone” actions involved at least one individual defendant or respondent. The new actions spanned the entire securities waterfront, including against emerging threats […]
NERA: 2020 Securities Suit Filings Down vs. 2019, But Above Long-Term Levels | The D&O Diary
Federal court securities class action lawsuit filings declined 22% in 2020 compared to 2019, but the 2020 filings were still above the long-term historical average annual numbers of filings, according to NERA Economic Consulting’s annual securities litigation report. The 2020 securities suit filing drop-off reflected a decline in the number of federal court merger objection […]
Securities Suit Filings Declined in 2020 But Remained Above Historical Levels | The D&O Diary
The number of federal court securities class action lawsuit filings declined in 2020 relative to the most recent prior years, largely due to short-term filing lulls during the second and fourth quarters of the year. Though the number of filings last year was below the record-setting levels seen during the years 2017 to 2019, the […]
SEC Division of Enforcement Publishes Annual Report for Fiscal Year 2020
The Securities and Exchange Commission’s Division of Enforcement issued its annual report for fiscal year 2020 today. The report provides a comprehensive view of the Division’s accomplishments over the past year, discusses significant actions and key areas of strategic change, and details the Division’s COVID-19-related enforcement efforts. via SEC.gov | SEC Division of Enforcement Publishes Annual […]
First Half 2019 Securities Suits Against Foreign Issuers Outpaced Overall Filing Levels | The D&O Diary
The AIG report is based on data from Cornerstone Research. The report shows that during the year’s first six months, there were 35 core filings (that is, securities class action lawsuit filings excluding merger objection lawsuits) against non-U.S. companies with U.S. listings. (This filings tally does not include the several securities class action lawsuits that […]
NERA: Securities Suit Filings Down in the Year’s First Half | The D&O Diary
Securities class action lawsuit filings in the first half of 2020 were more than 15% below the number of filings in the first half of each of the last three years, according to a new report from NERA Economic Consulting. The report, entitled “Recent Trends in Securities Class Action Litigation: 2020 H1 Update” (here), projects […]
IN BRIEF: Securities class actions dropped in May amid pandemic, data shows – Reuters
The number of new federal lawsuits seeking class action status on behalf of investors seeking to recoup losses from stock drops or challenge mergers fell in May to their lowest level in four years, data released by Stanford University on Tuesday showed. Stanford’s Securities Class Action Clearinghouse, which maintains a database on securities class action […]