TheCorporateCounsel.net

According to reports published last week by National Economic Research Associates (NERA) and Cornerstone Research, securities class action lawsuits are having a big year: Both the number of filings and the total value of settlements are on track to exceed annual figures from the past 5 years.

The reports from NERA and Cornerstone Research are both available in our “Securities Litigation” Practice Area, along with other commentary about trends, cooperation credit, liability theories and more.

This D&O Diary blog from Kevin LaCroix gives color on the recent reports:

The increase in the number of filings in the year’s first six months is attributable to a number of filing trends. For example, according to the NERA report, there were 18 first half AI-related filings, already exceeding the 17 AI-related cases filed in all of 2025. There was also an increase in the number of cases with pump-and-dump allegations, from no more than two filings annually during the period 2022-2025 to 11 the first half of 2026. On the other hand, the number of crypto and SPAC-related filings declined sharply from 2025 levels, with only 2 crypto-related filings in the year’s first six months compared to 14 for the full year 2025, and only one SPAC-related filing in the 1H26 compared to five for the full year 2025.

Kevin shares his own analysis here, which includes these nuggets:

– Two industry groups that stood out in particular for the number of first half filings. Industry Group 283 (Drugs) had a total of 19 first half 2026 filings, representing about 16% of all first-half 2026 filings. Industry Group 737 (Computer Programming and Data Processing) had a total of 17 first-half 2026 filings, representing about 14% of all first-half 2026 filings. These two industry groups together accounted for 36 first-half 2026 filings, or nearly 31% of all first half 2026 filings.

– Among the first half 2026 securities suit filings were nine cases against IPO companies. The IPO companies named as defendants completed their IPOs in 2024 (one company); 2025 (seven companies); and 2026 (one company).

– Liz Dunshee