Securities class-action suits declined in first half
‘Core’ suits, which don’t involve M&A, totaled 117
New class-action securities lawsuits not involving mergers and acquisitions totaled 117 in the first half of the year, down 18% from the second half of 2019, according to a report by Cornerstone Research.
Despite the decline, the total number of filings is high based on historical averages, Cornerstone said.
Not surprisingly, the report said, “allegations related to issuers’ responses to Covid-19 began appearing in filings in mid-March.”
Suits against issuers of cryptocurrencies and cannabis companies continued in 2020, it noted.
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