The Daniel Patrick Moynihan U.S. Courthouse in the Southern District of New York. Photo: Ryland West/ALM Securities Litigation Cases Continued to Decline Nationally in 2023, Report Finds
New York's Southern District continued to be the leading destination for cases, with Delaware second. The Brooklyn-based Eastern District was third and the Northern District of California fourth, the study said.
March 07, 2024 at 11:01 AM
4 minute read
The original version of this story was published on New York Law Journal
What You Need to Know
- In the highly active deal environment of 2021, the volume of securities litigation peaked at 2,647 cases filed, according to the report.
- The most active defendants are all major financial institutions.
- The top law firms representing defendants in securities cases include Latham & Watkins, Skadden and Gibson Dunn.
The Southern District of New York remains by far the busiest district for federal securities litigation, but the number of cases filed fell nationwide between 2021 and 2023, according to a new report from Lex Machina.
In the highly active deal environment of 2021, the volume of securities litigation peaked at 2,647 cases filed, according to the report. The number of cases fell to 1,937 in 2022 and then 1,758 in 2023, the lowest number of new cases since 2017, according to the report.
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Law Firms Mentioned
- Wilmer Cutler Pickering Hale and Dorr LLP
- Wilson Sonsini Goodrich & Rosati
- Amarchand & Mangaldas & Suresh A Shroff & Co
- Freshfields Bruckhaus Deringer
- Latham & Watkins
- Goodwin Procter
- Davis Polk & Wardwell
- Paul, Weiss, Rifkind, Warton & Garrison
- Gibson, Dunn & Crutcher
- Cooley
- Skadden, Arps, Slate, Meagher & Flom LLP
- Sullivan & Cromwell LLP
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