SECURITIES CLASS ACTION FILINGS 2024 Year in Review AI-related filings more than double and 1933 Act filings continue to decline
The report found that the number of securities class action filings increased for the second consecutive year in 2024, with artificial intelligence (AI)-related filings more than doubling from the previous year. Plaintiffs filed 225 securities class action lawsuits in federal and state courts in 2024, up from 215 filings in 2023. The number of "core" filings—those excluding M&A filings—reached 220, 14% higher than the 1997–2023 historical average of 193.
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SECURITIES CLASS ACTION FILINGS 2024 Midyear Assessment Tracking of artificial intelligence–related filings began while the number of cryptocurrency-related filings declined
The report found that plaintiffs filed 112 securities class actions in federal and state courts in the first half of 2024, an increase from the 103 class actions filed in the second half of 2023. The number of core filings—those without merger and acquisition (M&A) allegations—in 2024 H1 (110) was above the number of core filings in 2023 H2 (101) and the historical semiannual average (96). Tracking of the Artificial Intelligence (AI) trend category began; there were six such filings in the first half of 2024. The number of filings in all other trend categories—including Cryptocurrency—is on pace to decline in 2024, except for COVID-19-related filings, which are on pace to increase.
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