An Opportunity To Slow The Rise Of Securities Class Actions

By Joshua Briones, Esteban Morales and Matthew Novian (November 8, 2018, 3:03 PM EST) -- Plaintiffs are filing more securities fraud class actions than ever before. To date, 328 cases have been filed in 2018, surpassing the 271 filed in 2016, and on pace to match (if not exceed) 2017's 412.[1] Further, average settlement amounts in the first half of 2018 raised fivefold to $124 million from $25 million in 2017. This rise in filings is concerning because the Private Securities Litigation Reform Act was designed to protect issuers and deter plaintiffs from filing low-quality complaints. The U.S. Supreme Court has the opportunity to slow this rise when addressing securities cases in this term and beyond....

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