SECURITIES CLASS ACTION FILINGS 2023 Midyear Assessment Number of Securities Class Action Filings Increased in First Half of 2023
The report found that plaintiffs filed 114 securities class actions in federal and state courts in the first half of 2023, a 23% increase from the second half of 2022 and in line with the semiannual average between 1997 and 2022. Six securities class actions related to the recent turbulence in the banking sector were filed (five in the first half of 2023 and one in the second half of 2022). There were 11 cryptocurrency-related filings in 2023. Of these, over half included allegations related to cryptocurrency exchanges.
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ACCOUNTING CLASS ACTION FILINGS AND SETTLEMENTS 2022 Review and Analysis Total Value of Settlements in Accounting-Related Securities Class Actions Rises in 2022
The total value of settlements in securities class actions involving accounting allegations grew substantially in 2022, spurred by an increase in settlement volume and amounts. The report also found a slight year-over-year increase in the number of accounting-related case filings, although the volume was still well below the historical average.
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