Securities Class Actions Hit 20-Year High: Report

Securities class action filings last year rose to the highest level in 20 years, according to a Cornerstone Research and Stanford Law School Securities Class Action Clearinghouse report released Jan. 31.

There were 270 securities class lawsuits filed in 2016, 82 more than in the previous year, and 44 percent above the 1997-2015 historical average of 188 filings, the report said. The increase was largely due to 80 suits over merger and acquisition transactions, more than four times more than in 2015, according to the report. The number of M&A filings in 2016 marks the highest number of federal filings ...