SECURITIES CLASS ACTION FILINGS 2022 Year in Review Securities Class Action Filing Activity Fell for Third Straight Year as Volume of M&A Class Actions Declined
The report found that plaintiffs filed 208 securities class action lawsuits in federal and state courts in 2022, down 5% from 218 filings in 2021 and well below the 332 filings in 2020. The 2022 decline was largely due to a continued decline in federal M&A filing activity. Conversely, core filings increased by one in 2022 despite SPAC-related core federal filings falling.
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SECURITIES CLASS ACTION FILINGS 2022 Midyear Assessment Number of Securities Class Action Filings Remains Steady in First Half of 2022. Lawsuits related to SPACs and cryptocurrency on pace to exceed 2021 totals
The report found that cases concerning special purpose acquisition companies continued to be the dominant trend. The 18 SPAC filings in the first half of 2022 are on pace to exceed 2021’s all-time high of 33. Cryptocurrency-related filings are on pace to reach an all-time high, as crypto-related lawsuits in the first half of 2022 were filed against an increasingly diverse pool of defendant types.
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