ACCOUNTING CLASS ACTION FILINGS AND SETTLEMENTS 2021 Review and Analysis Federal securities class action filings involving SPACs became the dominant filing trend in 2021.
The report found that plaintiffs filed 46 securities class actions with accounting allegations (accounting case filings), the second-lowest level in the last 10 years and down from 70 filings in 2020. Filings involving special purpose acquisition companies (SPACs) was one area of focus that grew. Approximately 20% of accounting case filings in 2021 involved a SPAC, and in the second half of the year that figure was nearly one in three.
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SECURITIES CLASS ACTION SETTLEMENTS 2021 Review and Analysis Number of Securities Class Action Settlements Reaches 10-Year High
The number of securities class action settlements reached a 10-year high in 2021, but the combined dollar amount of all settlements and the median settlement value fell to their lowest levels since 2017, according to a new Cornerstone Research report released today.
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